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Negril Travel

We recently went to Negril Jamaica and had a great time. The jerk chicken there was really good. We spent our first night at Bourbon Beach on 7 mile beach and then went back every night. They had great live music and the vibe was out of this world.

Delano to expand outside U.S.

Morgans Hotel Group, owner of the famous South Beach boutique lodging pioneer, announced Thursday that it had signed hotel management agreements that will expand the Delano brand to Mexico and Turkey.
The 114-room Delano in Cabo San Lucas, on Mexico’s Baja Peninsula, is under construction and expected to open in early 2013.
In Turkey, the 200-room hotel will be on the Aegean Sea. Also pegged to a 2013 opening, the resort will have several restaurants and bars, a Turkish spa and a focus on water sports.

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Hotel Workers Protest Outside Hyatt Regency

SAN FRANCISCO -- Hotel workers picketed and held a sit-in Thursday afternoon to protest management at the Hyatt Regency San Francisco near the Embarcadero, a spokeswoman for the workers' union said.

Hundreds of members and supporters of Unite Here Local 2, which represents hospitality workers for the Chicago-based hotel chain, gathered for the protest, which was scheduled to begin at about 4:30 p.m., union spokeswoman Riddhi Mehta-Neugebauer said.

Most of the protesters are picketing in front of the Hyatt Regency, located at 5 Embarcadero Center, while dozens of others are risking arrest by staging a sit-in somewhere on the hotel's property, Mehta-Neugebauer said.

The group is protesting what they say is hotel management's refusal to agree to a fair contract with more than 800 of its workers in San Francisco.

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Buffalo Wild Wings, Inc. Announces Fourth Quarter Earnings per Share of $0.55 and Annual Net Earnings Growth of Over 25% for 2010

Image via WikipediaBuffalo Wild Wings, Inc. (Hospitality Business News), announced today financial results for the fourth quarter ended December 26, 2010. Highlights for the fourth quarter versus the same period a year ago were:

• Total revenue increased 13.1% to $163.9 million
• Company-owned restaurant sales grew 13.3% to $148.7 million
• Same-store sales decreased 0.3% at company-owned restaurants and 1.1% at franchised restaurants
• Net earnings increased 22.0% to $10.2 million from $8.3 million, and earnings per diluted share increased 19.6% to $0.55 from $0.46

Sally Smith, President and Chief Executive Officer, commented, "The fourth quarter completed another successful year for Buffalo Wild Wings. We increased our brand presence with 80 additional restaurants across the United States, and our system-wide sales topped $1.7 billion! We delivered earnings per diluted share of $0.55 to our shareholders in the fourth quarter and accomplished net earnings growth of over 25% for the year."
Total revenue increased 13.1% to $163.9 million in the fourth quarter compared to $145.0 million in the fourth quarter of 2009. Company-owned restaurant sales for the quarter increased 13.3% over the same period in 2009, to $148.7 million, mainly the result of 27 additional company-owned restaurants at the end of fourth quarter 2010 relative to the same period in 2009. Same-store sales at company-owned locations for the fourth quarter decreased 0.3%. Franchise royalties and fees increased 10.3% to $15.2 million versus $13.8 million in the fourth quarter of 2009. This increase is attributed to 53 additional franchised restaurants at the end of the period versus a year ago, partially offset by a franchised same-store sales decrease of 1.1%.
Average weekly sales for company-owned restaurants were $45,595 for the fourth quarter of 2010 compared to $44,583 for the same quarter last year, a 2.3% increase. Franchised restaurants averaged $49,837 for the period versus $50,115 in the fourth quarter a year ago, a 0.6% decrease.
For the fourth quarter, net earnings increased 22.0% to $10.2 million versus $8.3 million in the fourth quarter of 2009. Earnings per diluted share were $0.55, as compared to fourth quarter 2009 earnings per diluted share of $0.46.
2011 Outlook
Ms. Smith remarked, "We're just coming off the excitement of Super Bowl Sunday, and our same-store sales for the first six weeks of 2011 are strong at 3.8% in company-owned and 1.5% at franchised locations. As sports fans turn their focus to basketball, we'll increase our media presence with attention-getting programming that supports our Home Court Advantage(TM) campaign. In our restaurants, our Team Members are dedicated to delivering an exceptional 'courtside' experience to our Guests."
Ms. Smith concluded, "2011 is another year of growth for Buffalo Wild Wings. We expect to open more than 100 new restaurants, including our first units in Canada, and reach our goal of 13% unit growth for the year. With our strategic emphasis on the core elements that have built our success: wings, beer, and sports, and our proven track record of results, we are confident in our ability to achieve our net earnings goal of over 18% growth for 2011."

Chipotle Workers Fired over Immigration Status Sue for Backpay

Two former employees of Chipotle Mexican Grill restaurants in Minnesota have filed a lawsuit claiming that the chain failed to pay them wages in a timely fashion. 

The workers, who were among hundreds who were fired by the Chipotle chain after an immigration audit raised questions about their immigration status, are seeking class action status.

The lawsuit says that Chipotle did not comply with Minnesota state law when it did not immediately give them their earned compensation upon their dismissal.

The workers are identified in the lawsuit, filed in Hennepin County Court, as Tanya Cortes and Alejandro Juárez, according to the Pioneer Press.

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Starwood slashes rate in key Mexican destinations

WHITE PLAINS, N.Y., Feb 09, 2011 (BUSINESS WIRE) --
With the worst winter season in decades upon us Starwood Hotels & Resorts Worldwide Inc. (NYSE:HOT) is making it easier than ever to book a sun-filled, affordable getaway to the top vacation destinations in Mexico. The global hospitality giant announced today a new promotion offering spectacular, all-inclusive packages at its Westin, Sheraton and Le Meridien resorts in Cancun, Puerto Vallarta and Los Cabos.

Starwood resorts offering all-inclusive packages include The Westin Resort & Spa, Los Cabos; The Westin Lagunamar Ocean Resort Villas, Cancun; The Westin Resort & Spa, Puerto Vallarta; The Westin Resort & Spa, Cancun; and Sheraton Hacienda del Mar Golf & Spa Resort, Los Cabos; Sheraton Buganvilias Resort & Convention Center, Puerto Vallarta and the Le Meridien Cancun Resort & Spa.
Fewer Hotel Deals to be had as Rates Continue to Rise but Mexico is the Exception
As hotel occupancies near pre-crisis levels and the economic recovery continues to build, hotels are filling up and rates are on the rise making travel deals harder to come by, but Mexico is a notable exception.
"Due to the recent negative headlines people are thinking twice about vacationing in Mexico, but what many travelers don't realize is that the vast majority of incidents are occurring hundreds of miles away from Mexico's most popular vacation spots. It is like avoiding Florida because of forest fires in California," said Trip Barrett, Vice President, Brand Management, Starwood Hotels Latin America Division. "As a result, Mexico is a great deal right now, and Starwood boasts some of the country's best resorts in idyllic locations that are safe, fun and easily accessible."
Starting today, travelers can book stays through December 15, 2011 by visiting starwoodhotels.com/mexicoallinclusive. Rates for two people start as low as $155 USD per night, based upon availability, for the all-inclusive packages, which include:

• Three meals a day at any of the resorts' restaurants and pool bars
• Free meals for children under 4 and 50% off meals for children ages 5-12
• Open bar with selection of domestic and imported drinks
• Pool-side beverage service
• Minibar including soft drinks, water and beer and free internet

Wyndham Worldwide Reports Strong Fourth Quarter

PARSIPPANY, N.J. 02-09-2011 —(Hospitality Business News) Wyndham Worldwide Corporation (NYSE:WYN) today announced results for the three months and year ended December 31, 2010.

Highlights:

• Fourth quarter adjusted diluted earnings per share (EPS) was $0.46, compared with $0.40 in the fourth quarter of 2009, an increase of 15%. Fourth quarter 2010 reported diluted EPS was $0.43, an increase of 8% from the same period in 2009.
• Free cash flow increased 11% to $603 million for the year ended December 31, 2010, compared with $541 million in 2009. The Company defines free cash flow as net cash provided by operating activities less capital expenditures, equity investments and development advances and excluding a previously announced cash payment related to contingent IRS tax liabilities.
• The Company's Board of Directors authorized an increase of the quarterly cash dividend to $0.15 from $0.12 per share, beginning with the dividend that is expected to be declared in the first quarter of 2011.
• During the quarter, the Company repurchased approximately 1.6 million shares of its common stock at an average price of $29.20. For the full-year 2010, the Company repurchased approximately 9.3 million shares of its common stock at an average price of $25.52.

"We are pleased to report these results, which are further evidence of the strength of our business models and great execution throughout the company," said Stephen P. Holmes, chairman and CEO, Wyndham Worldwide. "We delivered strong cash flow and look to continue to deploy free cash flow to create more value for our shareholders in 2011 through acquisitions, share repurchases and dividends."

FOURTH QUARTER 2010 OPERATING RESULTS

Fourth quarter revenues increased 3% from the prior year period to $937 million. Excluding the $47 million of Vacation Ownership revenue associated with the percentage-of-completion (POC) accounting method in the fourth quarter of 2009, fourth quarter 2010 adjusted revenue growth was 8%. The adjusted revenue growth reflects continued sales momentum across the Company's three business units and incremental contributions from acquisitions.
For the fourth quarter of 2010, adjusted net income increased by 15% to $84 million, compared with $73 million for the same period in 2009. The increase primarily reflects higher RevPAR in the Lodging business, strong operational performance by the Vacation Ownership business and a lower effective tax rate. Adjusted net income for the fourth quarter of 2010 excludes a $6 million after-tax restructuring charge, a $2 million after-tax loss incurred for the repurchase of a portion of the Company's 3.50% convertible notes and a $3 million after-tax net benefit related to the adjustment and resolution of certain contingent liabilities and assets.
Reported net income for the fourth quarter of 2010 was $78 million, or $0.43 per diluted share, compared with net income of $73 million, or $0.40 per diluted share, for the fourth quarter of 2009.

FULL YEAR 2010 OPERATING RESULTS

Reported revenues for full year 2010 were $3.9 billion, an increase of 3% over the prior-year period. Excluding the $187 million of Vacation Ownership revenue associated with the POC accounting method for the full year 2009, full year 2010 adjusted revenue growth was 8%. The adjusted revenue growth reflects continued sales momentum across the Company's three business units and incremental contributions from acquisitions.
Adjusted net income for the full year 2010 increased by 13% to $368 million, compared with $327 million for the prior-year period. The increase primarily reflects higher RevPAR in the Lodging business, strong operational performance by the Vacation Ownership business, contributions from acquisitions in the Exchange and Rentals and Lodging businesses and a lower effective tax rate. Adjusted net income for the full year 2010 excludes a $41 million after-tax net benefit principally related to the resolution of the IRS examination of taxable years 2003 through 2006, an $18 million after-tax charge for the early extinguishment of debt, a $6 million after-tax charge for acquisition costs and a $6 million after-tax restructuring charge.
Reported net income for full year 2010 was $379 million, or $2.05 per diluted share, compared with net income of $293 million, or $1.61 per diluted share, for the prior-year period.
Free cash flow increased 11% to $603 million in the twelve-month period ended December 31, 2010 compared with $541 million in the same period in 2009. The growth of free cash flow reflects higher cash earnings and more efficient working capital utilization. For the twelve months ended December 31, 2010, cash provided by operating activities was $635 million, or $780 million excluding the previously announced one-time payment of $145 million related to a contingent IRS tax liability. Cash provided by operating activities was $689 million for the prior-year period.

BUSINESS UNIT RESULTS

Lodging (Wyndham Hotel Group)

Revenues were $163 million in the fourth quarter of 2010, an increase of 9%, compared with the fourth quarter of 2009 reflecting RevPAR improvement of 10% as well as incremental revenue from the recently acquired Tryp hotel brand and higher fees generated from ancillary services provided to franchisees.
EBITDA was $40 million, an increase of 25%, compared with the fourth quarter of 2009 reflecting the RevPAR improvement and the absence of a $6 million impairment charge recorded in 2009, partially offset by higher operating costs.
As of December 31, 2010, the Company's hotel system consisted of approximately 7,210 properties and 612,700 rooms. The development pipeline included over 900 hotels and approximately 103,000 rooms, of which 55% were new construction and 51% were international.

Vacation Exchange and Rentals (Wyndham Exchange & Rentals)

Revenues were $282 million in the fourth quarter of 2010, an increase of 9% compared with the fourth quarter of 2009. In constant currency, revenues increased by 12%.
Exchange revenues were $153 million, relatively flat compared with the fourth quarter of 2009. Exchange revenue per member and the average number of members were flat.
Vacation rental revenues were $114 million, a 16% increase compared with the fourth quarter of 2009. In constant currency, vacation rental revenues increased 24% from the fourth quarter of 2009, primarily reflecting the contribution of incremental revenues from acquired businesses.
Excluding restructuring costs of $9 million and costs related to the acquisition of James Villa Holidays of $1 million, fourth quarter 2010 adjusted EBITDA decreased 13% compared with the prior-year period, reflecting the seasonality of the acquired rental businesses. Excluding the impact of acquisitions, adjusted EBITDA for the fourth quarter of 2010 was flat compared with the fourth quarter of 2009.
Wyndham Exchange & Rentals acquired James Villa Holidays on November 30, 2010, resulting in the addition of approximately 2,300 villas and unique vacation rental properties in over 50 destinations across Mediterranean vacation locations. This acquisition enhances the Company's leading position as the world's largest serviced vacation rentals business, providing access to approximately 97,000 vacation properties worldwide.

Vacation Ownership (Wyndham Vacation Ownership)

Gross Vacation Ownership Interest (VOI) sales were $373 million in the fourth quarter of 2010, up 9% from the fourth quarter of 2009, reflecting a 13% increase in tour flow. Volume per guest was flat compared with the prior year.
Total segment revenues were $497 million in the fourth quarter of 2010, compared with $508 million in the fourth quarter of 2009, which included the recognition of $47 million of previously deferred POC revenues. The absence of these revenues in the fourth quarter of 2010 was partially offset by an increase in gross VOI sales, a lower provision for loan losses and incremental sales under the Wyndham Asset Affiliation Model (WAAM).
EBITDA for the fourth quarter of 2010 was $131 million, compared with EBITDA of $132 million in the fourth quarter of 2009. Excluding an estimated $22 million impact from the POC method of accounting in the fourth quarter of 2009, fourth quarter 2010 adjusted EBITDA growth was 19%. This growth reflected the lower provision for loan losses and the increase in VOI sales.

Other Items

• The Company repurchased approximately 1.6 million shares of its common stock during the fourth quarter of 2010 at an average price of $29.20 and an additional 455,000 shares at an average price of $29.51 through February 8, 2011.
• During the fourth quarter of 2010, the Company repurchased $22 million face value of its 3.50% convertible notes and retired the proportionate share of the call options and warrants associated with these notes.
• Net interest expense in the fourth quarter of 2010 was $34 million, an increase of $1 million from the fourth quarter of 2009, primarily reflecting a $3 million loss incurred for the repurchase of a portion of the Company's 3.50% convertible notes during the fourth quarter of 2010.

Balance Sheet Information as of December 31, 2010:

• Cash and cash equivalents of approximately $155 million, unchanged from December 31, 2009
• Vacation ownership contract receivables, net, of $3.0 billion, compared with $3.1 billion at December 31, 2009
• Vacation ownership and other inventory of approximately $1.2 billion, compared with $1.3 billion at December 31, 2009
• Securitized vacation ownership debt of $1.7 billion, compared with $1.5 billion at December 31, 2009
• Other debt of $2.1 billion, compared with $2.0 billion at December 31, 2009. The remaining borrowing capacity on the revolving credit facility was $788 million, compared with $869 million as of December 31, 2009.

A schedule of debt is included in the financial tables section of this press release.

Outlook

The Company's full-year 2011 guidance is:

• Revenues of approximately $4.0 – $4.2 billion
• Adjusted EBITDA of approximately $925 – $955 million

The guidance reflects assumptions used for internal planning purposes. All guidance excludes legacy items, restructuring costs, debt extinguishment and acquisition costs, if any, which may have a positive or negative impact on reported results. If economic conditions change materially from current levels, these assumptions and our guidance may change materially. It is not practicable to provide a reconciliation of forecasted adjusted EBITDA to the most directly comparable GAAP measure because certain items cannot be reasonably estimated or predicted at this time. Any such items could be significant to our financial results.

Travel companies sue North Carolina over taxes

DURHAM -- Orbitz and five other Web-based travel companies are suing Durham County and the state over a new law that's trying to make them pay sales and occupancy taxes on Internet-arranged hotel stays.

The lawsuit, filed Feb. 4, alleges the governments are violating both the U.S. and North Carolina constitutions, along with a federal law that's supposed to protect e-commerce from multiple or discriminatory taxes.

The filing put Durham in the front lines of a major nationwide fight between the online travel industry and states that feel they're being cheated out of tax revenue. It has produced similar litigation in places like New York City.

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Summit Hotel Properties to launch IPO

Hotel investment company Summit Hotel Properties Inc. is expected to go public this week in an initial public offering of about 23 million shares priced between $10.50 and $12.50 each.

The Sioux Falls, S.D. company was recently organized to continue the hotel investment business of Summit Hotel Properties LLC. The company plans to operate as a real estate investment trust, focusing on acquiring and owning midscale and upscale hotels without food and beverage segments.

Following completion of the offering, the company will have a portfolio of 65 hotels in 19 states.

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Woman Dies After Receiving Butt Injections at Hotel

PHILADELPHIA (KTLA) -- Police in Philadelphia say a young woman after receiving silicone butt injections at a Hampton Inn Hotel.

The woman was in her 20s and was from England, according to police. She died 12 hours after receiving the injections.

Paramedics were called to the hotel because she was having trouble breathing, according to Lt. John Walker of the Philadelphia police. The woman was taken to Fitzgerald Murphy Hospital, where she died.

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Why more Americans don't travel abroad

That's just too low for such an affluent country, said Bruce Bommarito, executive vice president and chief operating officer for the U.S. Travel Association.

"Americans are comfortable in their own environment," Bommarito said.

There were 61.5 million trips outside the United States in 2009, down 3% from 2008, according to the Office of Travel and Tourism Industries. About 50% of those trips were to either Mexico or Canada, destinations that didn't require a passport until 2007.

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Hotel project gone wrong, Russian billionaire flees to the U.S.

A wealthy Russian businessman has fled to the U.S. after receiving death threats when he launched a lawsuit against a close friend of Prime Minister Vladimir Putin.

Ashot Egiazaryan, 45, said he was considering seeking asylum after accusing some of Russia's most influential people of swindling him in a real estate deal in Moscow.

He claims he was subjected to groundless police raids, personal smears and anonymous death threats for two years as he struggled to hold on to his $2billion stake in the Moskva hotel project.

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Kenya govt plans to dispose of 11 hotels

Investors in East Africa are keen on a fresh opportunity to invest millions of dollars in the privatisation of some of Kenya’s finest hotels in the coming months, as the country seeks to reduce its ballooning domestic debt.

Kenya plans to sell its stake in 11 hotels, among them the Intercontinental and Hilton Hotels — some of Kenya’s most profitable hotels and part of Nairobi’s architectural landmarks — through strategic partnerships or share issues.

The plan is also hoped to help the country spruce up its tourism sector, one of its leading hard currency earner.

Most of the government hotels managed by the Kenya Tourist Development Corporation (KTDC) have been run down over the years and continue to struggle financially, prompting the government to restructure them through sale to investors. 

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