THE COMPANY that operates the Kentucky Fried Chicken (KFC) franchise across Ireland went into the red last year, sustaining after-tax losses of €469,722.
Documents just filed with the Companies Office show Herbel Restaurants (Ireland) Ltd recorded a 10 per cent drop in operating profits from €5.1 million to €4.6 million to the end of December last.
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Monday, November 29, 2010
‘BAHA Career Investment Scholarships’ announced
(Hospitality Business News) At yesterday’s (25 November) 5th Annual Hospitality Finance Conference and Exhibition, BAHA – the UK’s leading educational organisation for professionals involved in financial management, revenue management and IT within the hospitality industry – announced and publicly recognised the first ever recipients of ‘BAHA Career Investment Scholarships’, awarded to outstanding young employees working in finance, revenue management or IT within the UK hospitality industry.
Nominated by senior practitioners within the profession, the five lucky winners of 2010 ‘BAHA Career Investment Scholarships’ – designed to provide career development for upcoming young people currently working in the hospitality industry – are: Kate Baudouin, Assistant Director of Finance at Grosvenor House (European flagship of JW Marriott), Park Lane, London; Daniel Bensusan, Finance Clerk, Starwood Hotels and Resorts, Central London; Michelle Jump, Inventory Manager, Travelodge; Andrew Wells, Financial Controller, Macdonald Windsor Hotel (owned by Macdonald Hotels and Resorts) in Windsor, Berkshire; and Chantal Beukes, Sales Executive/Pipeline Coordinator, STR Global. The respective nominators were: Joanna Chugh, Director of Finance, Grosvenor House; Patrick Divall, Area Director of Finance England, Starwood Hotels & Resorts; Patricia Griffin, Regional Revenue Manager – Provincial, Travelodge; Barry Dawson, Hotels Finance Director, Macdonald Hotels; and Thomas Emanuel, Director of Sales, STR Global.
The scholarships afforded the five lucky winners – who had to be 30 years-old and under – an unique opportunity to learn from, be noticed and publicly recognised at, yesterday’s one-day BAHA Annual Conference and IT Exhibition, held at the Sofitel Hotel, London Heathrow at Terminal 5. Pictured from left to right at the prestigious event are: Kate Baudouin; Daniel Bensusan; Michelle Jump; Andrew Wells; and Chantal Beukes.
The prize for winning each of the five Scholarships comprised full-day attendance at the Conference and IT Exhibition – where the candidates’ outstanding achievements were officially and publicly recognised; as well as a place last night at the BAHA Conference Gala Dinner – one of the traditional social networking highlights of the hospitality industry year. And that’s not were it ended – each scholarship recipient will be now featured in BAHA’s monthly magazine ‘BAHA Times’’!
Commenting on the new awards, BAHA Chief Executive Carl Weldon said: “I would like to congratulate all five recipients and their nominators. The winners have each demonstrated, at an early stage in the careers, why they are very worthy recipients of these our first ever annual ‘BAHA Career Investment Scholarships’. Michelle Jump, for instance, won the ‘Travelodge Head Office Team Member of the Year’ award 2009 for her continued dedication, commitment and professionalism. She has been instrumental in a very impressive group growth of the company.
“The ‘BAHA Career Investment Scholarships’ gave the five winners an unrivalled chance to enhance their continuing professional development (CPD) at yesterday’s Conference. They were able to mix with senior delegates and learn from them as well as the comprehensive programme of highly topical ‘best-practice’ educational workshops and presentations, led by a distinguished array of speakers – all experts in their own fields – who addressed the most pressing current issues in hospitality finance, revenue management and IT.”
Operations analytics, looking at your establishment from a different perspective
Many innovative companies use lean operating principles on a daily basis. At Hillstone Restaurant Group, operators of Houston’s Restaurants, every move, abbreviations, and kitchen pickup time is scrutinized under a microscope. They manage to have 3-minute pickup times for appetizers, and 8-minute pickups for entrees, without precooking anything. They accomplish this by embracing the concept of lean production.
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Foreign Hacker Suspected in Seattle Restaurant Data Breach
Federal authorities now say the recent Seattle cyber attack was a much bigger crime than first believed. A U.S. Secret Service agent says more than 1,000 credit and debit cards may have been compromised.
The attack happened in late October, and the forensic trail leads overseas, officials say. Card data was stolen on Oct. 22 in a one-day attack by what authorities say for now was one hacker. The Seattle Capitol Hill area restaurant, Broadway Grill, appears to be ground zero for the attack. Secret Service agent Bob Kierstead of the Seattle Electronic Crimes Task Force says the overseas hacker who was able to access the network through Broadway Grill's system appears to have been able to leapfrog from the restaurant's access to a critical server in the transaction process, where account information was available.
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The attack happened in late October, and the forensic trail leads overseas, officials say. Card data was stolen on Oct. 22 in a one-day attack by what authorities say for now was one hacker. The Seattle Capitol Hill area restaurant, Broadway Grill, appears to be ground zero for the attack. Secret Service agent Bob Kierstead of the Seattle Electronic Crimes Task Force says the overseas hacker who was able to access the network through Broadway Grill's system appears to have been able to leapfrog from the restaurant's access to a critical server in the transaction process, where account information was available.
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Hooters of America in buyout talks
Private equity firm Wellspring Capital Management is in talks to buy Hooters of America Inc., franchiser of more than 400 beer, boobs and wings establishments throughout the world.
Fortune has learned that the process began nearly a year ago, with North Point Advisors representing the Atlanta-based company. No info yet on financial terms, although the company is believed to generate around $1 billion in annual revenue.
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Fortune has learned that the process began nearly a year ago, with North Point Advisors representing the Atlanta-based company. No info yet on financial terms, although the company is believed to generate around $1 billion in annual revenue.
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Senate Widens Its Probe Of Bare-Bones Health Plans .
WASHINGTON—A congressional committee is widening its investigation of bare-bones health-insurance policies to encompass potentially hundreds of plans offered by low-wage employers.
What started as a probe into McDonald's Corp.'s insurance plan for store workers is expanding into broad scrutiny of "mini-med" policies that could ensnare large mini-med carriers including Aetna Inc. and Cigna Corp.
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What started as a probe into McDonald's Corp.'s insurance plan for store workers is expanding into broad scrutiny of "mini-med" policies that could ensnare large mini-med carriers including Aetna Inc. and Cigna Corp.
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A gaze into the future of what travellers’ hotel experience will be like in 2020
A major new report, Hotels 2020: Beyond Segmentation, reveals the emerging behaviours and demands of the future hotel guest and what this means for the types of hotels we will see in the future.
The study commissioned by the chosen technology partner and transaction processor for the global travel and tourism industry, Amadeus and carried out by Fast Future Research reveals that the industry faces three major impacts in the next decade which it has to respond to:
· The long-term impact of the recession on travellers’ budgets
· The changing demands of an ageing Western population
· The shift of demand from Europe to emerging markets of Asia and beyond
The report also recognises the industry’s need to innovate and paints a picture of a future hotel featuring such innovations as intelligent furniture, personalized nutrition plans and responsive technologies that cater to individual guests needs. It highlights the new hotel models that may emerge such as invitation-only hotels, hotels co-branded with luxury brands, white-label hotels and catch-all hotel chains that will deliver one-star budget to six-star luxury hotel properties.
As well as looking to a future where increased choice, control and comfort are commonplace, the report acknowledges that the industry must respond to the demographic and economic changes in their guests circumstances.
With an ever aging population globally, hotel groups must consider layout, access issues and facilities to cater to the requirements of older holidaymakers. Additionally, it is predicted that there will be an increase in multi generational holidays, which will bring with herald its own set of requirements.
In addition to this, the report may have some good news for 2020’s business travellers. While currently hotels charge high rates for internet access, far from viewing it as a revenue stream, hotels may well be offering free wifi as standard in order to attract guests.
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Maureen McQuade Named Master of New England Innkeeping
(Hospitality Business News) Cape Elizabeth, Maine November 29, 2010………Maureen McQuade, former Innkeeper and owner of Inn by the Sea in Cape Elizabeth Maine was awarded the prestigious title of Master of New England Innkeeping by New England Inns and Resorts Association (NEIRA) at their annual meeting held at the Stage Neck Inn and York Harbor Inn on October 23, 2010. The NEIRA program, launched in 2003, assigns Masters of New England Innkeeping to outstanding individuals who make a profound and lasting contribution to the culture of hospitality in the region.
NEIRA plans to award Masters’ titles to only twenty-five Innkeepers in order to preserve and archive a living culture of New England Innkeeping at its best over the last century.
Toowoomba Fiveways Hotel brings back topless waitresses
TOOWOOMBA’S religious leaders have condemned the return of topless waitressing to the city.
Patrons packed the Fiveways Hotel on Friday afternoon for the first appearance of the waitresses in more than six years.
But the popularity of the event has been matched by a growing chorus of opposition led by the city’s church leaders.
Garden City Baptist Church Senior Pastor Tim Bunch said the hotel’s promotion was further proof Toowoomba had gone “too far, too fast”.
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Patrons packed the Fiveways Hotel on Friday afternoon for the first appearance of the waitresses in more than six years.
But the popularity of the event has been matched by a growing chorus of opposition led by the city’s church leaders.
Garden City Baptist Church Senior Pastor Tim Bunch said the hotel’s promotion was further proof Toowoomba had gone “too far, too fast”.
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A burglar has walked off with a hotel cash register in broad daylight in Sandown.
Police say it is alleged someone went into the Parkbury Hotel on the Broadway and stole a cash register from behind the bar at approximately 2.30pm on Thursday, November 18, 2010.
The register contained approximately £100 in cash.
Investigating officer PC Rob Quick of the Isle of Wight's Targeted Patrol Teams (TPT) said: "This was a burglary carried out in broad daylight by someone who we believe knew exactly what they wanted to steal. Enquiries over the past week have established that the area around the hotel was busy with passing pedestrians and motorists. It's believed the burglar walked out of the hotel carrying the cash register. I'm appealing to anyone who may have noticed someone acting suspiciously near the Parkbury Hotel last Thursday afternoon to contact police."
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The register contained approximately £100 in cash.
Investigating officer PC Rob Quick of the Isle of Wight's Targeted Patrol Teams (TPT) said: "This was a burglary carried out in broad daylight by someone who we believe knew exactly what they wanted to steal. Enquiries over the past week have established that the area around the hotel was busy with passing pedestrians and motorists. It's believed the burglar walked out of the hotel carrying the cash register. I'm appealing to anyone who may have noticed someone acting suspiciously near the Parkbury Hotel last Thursday afternoon to contact police."
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Hot $99, 3-Day Cheap Vacations on JetBlue!
JetBlue just announced nine cheap vacation packages starting at $99 per person, including airfare and a 3-day hotel stay. Travel between Dec. 5-14, 2010. You pick the destination and the flight, they pick the hotel. Even though you can't pick your hotel, JetBlue guarantees it is a three- to five-star hotel. Taxes and airline fees are extra.
The flights depart from JFK and/or Boston and go to Barbados, Las Vegas, St. Lucia, Tampa/St. Petersburg, Orlando and Cancun. Four of the nine packages cost $99 per person, the other five range from $109-$205.
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The flights depart from JFK and/or Boston and go to Barbados, Las Vegas, St. Lucia, Tampa/St. Petersburg, Orlando and Cancun. Four of the nine packages cost $99 per person, the other five range from $109-$205.
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Hotel Phoenicia caught up in Ireland’s financial storm
Hotel Phoenicia operators Cuffe (Malta) Limited is in the process of refinancing its debt with beleaguered INBS Bank in Dublin, to an “alternative banking institution outside of Ireland.”
The news was revealed to MaltaToday by the operating company, that explained that these negotiations will be concluded by the end of the year.
The hotel property is owned by six Irish investors, who took over the hotel in 2007. Among the hotel’s directors is 65 year-old Paddy Kelly, Ireland’s most notorious developer, who is reported to owe Irish banks almost €1 billion.
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The news was revealed to MaltaToday by the operating company, that explained that these negotiations will be concluded by the end of the year.
The hotel property is owned by six Irish investors, who took over the hotel in 2007. Among the hotel’s directors is 65 year-old Paddy Kelly, Ireland’s most notorious developer, who is reported to owe Irish banks almost €1 billion.
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Pebblebrook buys another hotel
Pebblebrook Hotel Trust continues to add to its portfolio of hotel properties. The Bethesda-based company announced last week it had acquired the boutique-style Sheraton Delfina Santa Monica Hotel for $102.8 million. The 310-room upscale hotel in Santa Monica, Calif., is Pebblebrook's seventh acquisition since the company went public last December.
Chicago's Hotel Blake joins Wyndham Hotel Group
CHICAGO— Hotel Blake, a boutique hotel in Chicago's South Loop will become The Wyndham Blake Chicago, joining Wyndham Hotel Group’s international collection of hotels and resorts on Dec. 8.
At the Wyndham Blake Chicago, guests will enjoy the many benefits of staying at a Wyndham, including:
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At the Wyndham Blake Chicago, guests will enjoy the many benefits of staying at a Wyndham, including:
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Wyndham Grand to operate spa hotel in Colorado Springs
The Mining Exchange, a Wyndham Grand Hotel, is set in four early 20th century buildings and facilities include a large spa.
The property, owned and operated by Mining Exchange Group, is currently under redevelopment and expected to open in Q2 2011.
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The property, owned and operated by Mining Exchange Group, is currently under redevelopment and expected to open in Q2 2011.
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Banks Increase Hotel Financing
JPMorgan Chase & Co. and Wells Fargo & Co. are seeking to increase financing for hotels as lenders recover more money from loans backed by lodging than from debt secured by other types of commercial real estate.
Lenders’ losses on non-performing hotel loans were about 53 percent this year through September, compared with 63 percent for retail property loans, 62 percent for industrial, 61 percent for multifamily and 57 percent for office, according to data from Trepp LLC, a New York-based mortgage-information provider. The figures exclude loans with losses of 2 percent or less. Read More:
L.A. Council may expand worker-retention law
When the city of Los Angeles four years ago made airport-area hotels retain their employees after any sale of the hotel, politicians promised that the law wouldn’t spread across the city.
Nevertheless, Councilwoman Janice Hahn now wants the City Council to extend the worker-retention ordinance to cover all large hotels in Los Angeles. And local business leaders and hotel executives have few reservations about their anger.
Gary Toebben, Los Angeles Area Chamber of Commerce chief executive, said business leaders are upset that the city appears to be breaking its promise to limit the ordinance to Los Angeles International Airport-area hotels.
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Nevertheless, Councilwoman Janice Hahn now wants the City Council to extend the worker-retention ordinance to cover all large hotels in Los Angeles. And local business leaders and hotel executives have few reservations about their anger.
Gary Toebben, Los Angeles Area Chamber of Commerce chief executive, said business leaders are upset that the city appears to be breaking its promise to limit the ordinance to Los Angeles International Airport-area hotels.
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Hell’s Kitchen Winner: Gordon Ramsay “Betrayed Me”
What? It didn’t work out? The winner of last season’s Hell’s Kitchen thought she’d scored an epic job: head chef at the Savoy Grill, a Gordon Ramsay restaurant project inside the massively renovated (£220 million) Savoy Hotel in London, which opens today.
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Merukh acquires Singapore hotel and office complex
Merukh Enterprises, a major Indonesian investment company in the mining industry, officially began the operation of its first property in Singapore over the weekend, one of the company’s important steps in its expansion program outside of the mining sector.
The company’s president director, Rudy Meruck, said in Singapore on Sunday that the property unit, which comprises a hotel and office building, was recently acquired from Singapore-based leading property company Royal Brothers Group for S$218 million (about Rp 1.05 trillion).
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The company’s president director, Rudy Meruck, said in Singapore on Sunday that the property unit, which comprises a hotel and office building, was recently acquired from Singapore-based leading property company Royal Brothers Group for S$218 million (about Rp 1.05 trillion).
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181-room Sheraton Metairie - New Orleans Hotel sold
The Plasencia Group announced the company served as the exclusive advisor in the marketing and sale of the Sheraton Hotel in Metairie, Louisiana.
The seller was The Situs Companies as special loan servicer to a CMBS trust; the buyer was Songy Partners Limited of Atlanta in a joint venture with Aimbridge Hospitality and Argonaut Private Equity. The transaction, which closed in mid-October, was completed for a purchase price of $9.8 million.
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The seller was The Situs Companies as special loan servicer to a CMBS trust; the buyer was Songy Partners Limited of Atlanta in a joint venture with Aimbridge Hospitality and Argonaut Private Equity. The transaction, which closed in mid-October, was completed for a purchase price of $9.8 million.
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Setai Fifth Ave. sued over brand name
The Setai Fifth Avenue, a striking 60-story luxury hotel and condo that opened to guests earlier this month, has been hit with a lawsuit by the Setai Group, which wants its brand name taken off the property.
The Setai Group, a hotel and development company, alleges that the building's owners are in breach of contract, according to the complaint filed in New York state Supreme Court Monday. The suit alleges that the hotel's developer, Bizzi & Partners Development, owes Setai $1.4 million and improperly marketed the hotel. It is also seeking for the property to cease using its brand name.
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The Setai Group, a hotel and development company, alleges that the building's owners are in breach of contract, according to the complaint filed in New York state Supreme Court Monday. The suit alleges that the hotel's developer, Bizzi & Partners Development, owes Setai $1.4 million and improperly marketed the hotel. It is also seeking for the property to cease using its brand name.
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Paris-based Carlyle Group Plans $200 Million Hotel Expansion in France, Germany and Italy
The Carlyle Group, a Paris-based investment firm with 400 professionals in 19 countries, says its recent entry in bed and breakfast-style hotels was an opportunity to help its budget hotel brand expand throughout Europe.
The company's growth goal will add at least 100 hotels to the portfolio in key countries such as its home base of France, Germany and other smaller European countries, Franck Falezan, managing director with The Carlyle Group, told HotelNewsNow.com
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The company's growth goal will add at least 100 hotels to the portfolio in key countries such as its home base of France, Germany and other smaller European countries, Franck Falezan, managing director with The Carlyle Group, told HotelNewsNow.com
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Carlyle's $614 Million Takeover Bid of Malaysia Fast-Food Company Rejected
Kulim (Malaysia) Bhd. rejected a 1.94 billion ringgit ($614 million) takeover bid from Carlyle Group and a matching rival offer for Southeast Asian fast-food chain operator QSR Brands Bhd., saying it has no desire to sell.
“As QSR and subsidiaries are currently experiencing robust growth, the board believes that more value can be realized in the long term and therefore the companies should be retained within the group,” Kulim, QSR’s biggest shareholder, said in a statement today. Read More:
Kraft Challenges Starbucks Attempt to End Coffee Distribution Agreement
Kraft Foods Inc. said it would challenge Starbucks Corp.’s attempt to end a retail grocery coffee-distribution agreement between the two companies and has initiated an arbitration proceeding.
To end the deal Starbucks must compensate Northfield, Illinois-based Kraft for the “fair market value” of the business, plus possibly a premium of as much as 35 percent of that value, Kraft said today in a statement.
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