Here’s something you don’t see every day: Franchise owners so out of touch with how their chain is doing, they have no idea their corporate parent is a takeover target. After Wendy’s/Arby’s Group (WEN) chairman and major shareholder Nelson Peltz announced earlier this week he’d been contacted about a possible sale of the struggling company, the head of Wendy’s biggest franchise-owner association told Nation’s Restaurant News members were shocked and dismayed at the news.
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Monday, June 21, 2010
“Even slight reductions in ADR can yield dramatic increases in occupancy”
Hotel room pricing is a difficult subject within the larger school of revenue management, and as such it has garnered much study over the years. At the heart of any pricing discussion is the balance between healthy average daily rate and high occupancy; the metric representing this balance is revenue per available room, or RevPAR.
Pricing strategies generally take three forms: those that try to maximize ADR, those that try to maximize occupancy and those that try to maximize RevPAR. Though each of these categories of strategy may be applicable in different situations, the only consistently workable pricing strategy is one that focuses on keeping RevPAR at a high, sustainable level.
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Pricing strategies generally take three forms: those that try to maximize ADR, those that try to maximize occupancy and those that try to maximize RevPAR. Though each of these categories of strategy may be applicable in different situations, the only consistently workable pricing strategy is one that focuses on keeping RevPAR at a high, sustainable level.
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Battle of the Buns: Wendy's Takes 2nd Shot at Dismissing Antitrust Suit
Fast food restaurant chain Wendy's International Inc. is taking a second shot at dismissing a closely watched antitrust case filed by a franchisee against Wendy's and a subsidiary that makes hamburger buns.
On June 16 in Burda v. Wendy's International Inc. in the Southern District of Ohio, Wendy's and another defendant filed a motion to dismiss franchisee Robert Burda's amended complaint. The defendants argue that Burda and the corporate entities he controls are not properly prosecuting the case. They also argue that Burda and the other plaintiffs have failed to comply with a court order requiring them to obtain new counsel by June 3.
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On June 16 in Burda v. Wendy's International Inc. in the Southern District of Ohio, Wendy's and another defendant filed a motion to dismiss franchisee Robert Burda's amended complaint. The defendants argue that Burda and the corporate entities he controls are not properly prosecuting the case. They also argue that Burda and the other plaintiffs have failed to comply with a court order requiring them to obtain new counsel by June 3.
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P.F. Chang's, Burger King, Jamba Juice sell frozen food
Some of the most familiar names in the restaurant world are moving into the grocer's freezer.
P.F. Chang's, Burger King and Jamba Juice all have recently licensed their names for new products to be sold in supermarkets. They join other high-profile restaurant chains including Marie Callender's, Starbucks, T.G.I. Friday's and California Pizza Kitchen, which already have substantial presence at the grocery store.
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P.F. Chang's, Burger King and Jamba Juice all have recently licensed their names for new products to be sold in supermarkets. They join other high-profile restaurant chains including Marie Callender's, Starbucks, T.G.I. Friday's and California Pizza Kitchen, which already have substantial presence at the grocery store.
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Has the Rio lost its shine for buyers?
When billionaire Phil Ruffin bought Treasure Island last year, speculation swirled about other Las Vegas hotels that could be sold by cash-strapped casino giants.
The name game fizzled, however, as the big corporations chipped away at their massive debts. Banks are helping out by granting extensions and more flexible terms on loans, some in exchange for higher interest rates. And few potential buyers — less than half a dozen entities, by some measures — have Ruffin’s resources and industry background.
For those casino companies that have not fallen into bankruptcy or defaulted on loans, the desire to sell has waned. As long as they can restructure their debts outside the courtroom, they are not going to be eager to unload casinos that are still earning money.
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The name game fizzled, however, as the big corporations chipped away at their massive debts. Banks are helping out by granting extensions and more flexible terms on loans, some in exchange for higher interest rates. And few potential buyers — less than half a dozen entities, by some measures — have Ruffin’s resources and industry background.
For those casino companies that have not fallen into bankruptcy or defaulted on loans, the desire to sell has waned. As long as they can restructure their debts outside the courtroom, they are not going to be eager to unload casinos that are still earning money.
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California Pizza Kitchen cuts outlook
The company, known for its Barbecue Chicken pizza and other offbeat creations, said based on early results in the quarter it now expects second-quarter earnings in the range of 10 to 15 cents a share, down from its prior forecast of 24 to 26 cents a share. Analysts polled by Thomson Reuters I/B/E/S were expecting 26 cents.
California Pizza also said it now expects same-store full-service restaurant sales in the range of negative 6 percent to negative 7 percent. Before, it had forecast a decline of 0.5 percent to 2.5 percent.
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California Pizza also said it now expects same-store full-service restaurant sales in the range of negative 6 percent to negative 7 percent. Before, it had forecast a decline of 0.5 percent to 2.5 percent.
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Prostitution ring scandal hits Hilton hotel chain in China
THE Hilton Hotel chain was hit by scandal in China today as a branch was shut down by police investigating a prostitution ring.
Police in southwest China's Chongqing municipality closed the local Hilton Hotel and arrested 22 people suspected of running a prostitution ring, state press reported.
Chongqing police were investigating the owner of the property, Qinglong Property Development Co, and its alleged links to an underworld gang running a prostitution ring at the hotel, China National Radio said.
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Police in southwest China's Chongqing municipality closed the local Hilton Hotel and arrested 22 people suspected of running a prostitution ring, state press reported.
Chongqing police were investigating the owner of the property, Qinglong Property Development Co, and its alleged links to an underworld gang running a prostitution ring at the hotel, China National Radio said.
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Four Seasons is now the Park Hyatt Aviara
Four Seasons will officially part company today from the Aviara resort in Carlsbad and will now be known as a Park Hyatt hotel.
The changeover follows what had been a months-long, acrimonious dispute between the hotel owner, Broadreach Capital Partners, and the hotel’s longtime operator, Four Seasons Hotels and Resorts.
Although Broadreach had sought to immediately remove Four Seasons more than a year ago, alleging that it had failed to run the property in a “cost-effective manner,” the matter ultimately went to arbitration.
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The changeover follows what had been a months-long, acrimonious dispute between the hotel owner, Broadreach Capital Partners, and the hotel’s longtime operator, Four Seasons Hotels and Resorts.
Although Broadreach had sought to immediately remove Four Seasons more than a year ago, alleging that it had failed to run the property in a “cost-effective manner,” the matter ultimately went to arbitration.
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