Top iPhone Travel Apps

The mobile platform is reshaping the way consumers plan, book and consume travel. In particular, the impact of the iPhone on the travel experience is and will continue to be highly disruptive and progressive. Apple's iPhone is a new breed of mobile device with distinct features that differentiate it from competitors' products. The major difference is that, despite its name, the iPhone is much more than a phone

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MGM MIRAGE TAPS NAME POWER IN GLOBAL PUSH

Hotel and casino giant MGM Mirage is looking to expand its global empire -- with other companies footing the bill.
As the economy gouges gambling profits and cuts casinos' borrowing capacity, MGM Mirage has cut 10 new franchising deals to manage hotels abroad without spending on land or development

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Woombye hotel fraud ends in jail

A motel manager was jailed on Monday after stealing almost $30,000 from his employer over five months in 2007.
Glenn Heinz Vollmer, 45, provided 14 different business clients of the Red Bridge Motor Inn, part of the Best Western chain, on Nambour Connection Road at Woombye with his own personal banking details instead of the motel banking details for invoice payments.

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Former hotel manager admits to embezzling $173,000

DAYTON — A former general manager of the Holiday Inn Express Hotel & Suites in Centerville pleaded guilty Wednesday, Aug. 27 to one count of aggravated theft of more than $100,000.

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Catch Me If You Can: Conman Taunts Police

An alleged conman who poses as an Arab prince and is said to have run-up £20,000 in unpaid hotel bills has taunted police to "catch me if you can".

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Westin's project manager pleads guilty to fraud charges

A Florida man responsible for managing and ultimately deciding which general contractor would build the condominiums at the Westin Huntsville has pleaded guilty to mail/wire fraud and money laundering.

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Irish Hoteliers furious over 'cash grab' by banks

Finance Minister Brian Lenihan is considering proposals from angry Irish hoteliers to stop banks from undercutting the market by keeping unviable Irish hotels operating in a desperate cash grab, the Sunday Independent has learned.
The Irish hotel sector is up in arms over the shameless cash grab by the banks, who have installed management companies to run loss-making hotels offering rock bottom prices to fill the rooms. They are also angry that many of these hotels are simply being kept open to benefit from the arrival of Nama, the State's bad bank.

Read more:
http://www.independent.ie/national-news/hoteliers-furious-over-cash-grab-by-banks-1873251.html

Punch Taverns to put fizz back into Spirit pub division

Punch Taverns is planning an overhaul of Spirit, its managed pubs arm, home to brands including Chef & Brewer, in its quest to raise funds and reduce its £3.5 billion debt pile.
A raft of new brands are to be introduced, including a carvery chain called Roast Inn and Fayre & Square, a value food offering. Chef & Brewer will also get a makeover.

Read more:
http://business.timesonline.co.uk/tol/business/industry_sectors/leisure/article6815084.ece

Turnberry's next role -- asset management

Seeking to generate additional income and capitalize on a need in the real estate market, Turnberry Associates has launched a new division offering its services as an asset manager.
Turnberry Asset Management will focus the majority of its business on commercial properties, offering leasing, marketing and operations support for retail centers, office complexes, hotels and resorts. The Aventura company also has the capability of providing similar service for residential properties through its affiliated Turnberry Ltd.

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City picks new Tavern on the Green leaseholder

The most anticipated restaurant deal in the New York was announced Friday when the city selected Dean Poll, owner and operator of the Loeb Boathouse in Central Park, to run the eatery where Tavern on the Green has stood for more than three decades.

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Resort at Singer Island to lay off 230

The Resort at Singer Island has filed a notice with the state of plans to lay off 230 employees.
The hotel, at 3800 N. Ocean Drive in Riviera Beach, said in its Worker Adjustment and Retraining Notification Act (WARN) notice that White Plains, N.Y.-based Starwood Hotels & Resorts Worldwide, which manages the hotel, has been told by the hotel’s owner – WCI Communities of Bonita Springs – that it will not be honoring its management contract.

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Accor's Volte-Face

It has taken a recession, a profit warning and a boardroom shake-up, but activist shareholders calling for strategic changes at French hotels group Accor may at last get their way.
Chief Executive Gilles Pelisson has agreed to separate Accor's hotels and services units, a move that Mr. Pelisson has resisted. That is good news for shareholders, particularly as it may be the catalyst for a much wider shake-up.

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Restaurant Group boosted by growth plans

Shares in The Restaurant Group, the owner of the Garfunkel’s and Frankie & Benny’s chains, surged 19p, or 11 per cent, to 193p in early deals today after it posted a 3 per cent increase in first-half profits and boasted plans for a further eight new outlets before the end of the year.
Investors cheered the group, which also owns the Chiquito and Blubeckers chains, for continuing to grow despite the economic downturn, partly by offering its diners more chicken and less steak.

Read more:
http://business.timesonline.co.uk/tol/business/industry_sectors/retailing/article6813299.ece

Trump Casinos Must Face Examiner’s Review of Donald Trump Deal

Aug. 28 (Bloomberg) -- Donald Trump’s effort to regain control of Trump Entertainment Resorts Inc. will be investigated by a court-approved bankruptcy examiner, the judge overseeing the casino operator’s Chapter 11 case ruled.
U.S. Bankruptcy Judge Judith Wizmur in Camden, New Jersey, yesterday approved a request by Trump Entertainment’s bondholders to investigate the company’s decision endorsing Trump’s reorganization plan. Bondholders urged the judge in court papers to investigate whether the board acted in good faith

Read more:
http://www.bloomberg.com/apps/news?pid=20601206&sid=ajx31iU6jhlQ

Billionaire Tan and Star Cruises Open Manila Casino

Aug. 28 (Bloomberg) -- Philippine billionaire Andrew Tan and Star Cruises Ltd. today opened their $700 million Resorts World Manila, which will double the tables in the city and may boost its casino revenue more than 120 percent.
“Our expectation is this will contribute to earnings within the first year of operations,” said Kingson Sian, president of Alliance Global Group Inc., the holding company of Tan, the Philippines’ fourth-richest person. The venture will tap Star Cruises’ network of more than 2.5 million customers and will bus in people from outside Manila, he said.

Read more:
http://www.bloomberg.com/apps/news?pid=20601205&sid=aS22lEJCBnXE

Washington Hotels Defy U.S. Travel Slump on Government Bailouts

Aug. 28 (Bloomberg) -- Washington politicians, many of whom led the backlash against lavish spending on business travel, are helping the city’s hotels outperform the rest of the country.

Read more:
http://www.bloomberg.com/apps/news?pid=20601205&sid=abRrhjhnKUaA

Is Marriott Taking Out a Hit On The Ritz-Carlton?

We got a tip late last night that told us things could be changing drastically at Ritz-Carlton Hotels which as you all know is a part of the Marriott Hotels.

Read more:
http://www.hotelchatter.com/story/2009/8/26/21443/5697/hotels/Is_Marriott_Taking_Out_a_Hit_On_The_Ritz_Carlton_

Dubai's desert theme park suddenly a mirage

DUBAI, UNITED ARAB EMIRATES -- Walk through the grand arched entrance of Universal Studios' Dubai theme park, and you step into ... wind-swept desert.
No Hollywood thrill rides, no ticket kiosks, no studio backlots. Even the guard house and the construction office sat empty during a recent visit.
The planned park is part of a vision by Dubai officials to turn a patch of sand on the edge of the Mideast city-state into Dubailand - a vast amusement complex twice the size of Walt Disney World studded with theme parks including Universal Studios, Six Flags and Legoland, along with resorts, the world's biggest shopping mall and the first golf course designed by Tiger Woods.
Read more:
http://www.globeinvestor.com/servlet/story/GAM.20090825.IBDUBAILAND25ART1900/GIStory/

MGM Mirage announces debt-exchange deal

MGM Mirage announced a debt-exchange deal Thursday in which it plans to swap some of its $782 million in 8.5 percent notes due in 2010 for up to $500 million in 10 percent notes due in 2016.

Read more:
http://www.lasvegassun.com/news/2009/aug/27/mgm-mirage-announces-debt-exchange-deal/

Why InterContinental Chose to Relaunch Holiday Inn

NEW YORK (AdAge.com) -- InterContinental Hotels Group earlier this summer announced the opening of its 1,000th relaunched Holiday Inn hotel: the Holiday Inn Express New York Times Square. The opening was part of an overall $1 billion relaunch of more than 3,200 Holiday Inn and Holiday Inn Express hotels worldwide, as well as the opening of another 1,050 hotels featuring the new branding over the next few years, with the completion of the global relaunch set for 2010

Read more:
http://adage.com/cmostrategy/article?article_id=138687

Starbucks to open second ‘stealth’ coffee shop

Call it stealth Starbucks II. The Seattle-based coffee chain plans to add a second coffee house in the style of the much-talked about 15th Avenue Coffee & Tea cafe that opened recently in Seattle’s Capitol Hill neighborhood.
The new cafe will be called Roy Street Coffee & Tea and will open this fall, also in Capitol Hill, at 700 Broadway East.

Read more:
http://seattle.bizjournals.com/seattle/stories/2009/08/24/daily39.html?ana=yfcpc

Send This Restaurant Stock Back

At first blush, Burger King's (NYSE: BKC) fourth-quarter results look downright tasty. The company's earnings of $0.43 per share came in well ahead of analyst estimates of $0.33. The market's reaction to the news was, well, fit for a king. Burger King shares jumped more than 6% on the news.
On second thought When looking deeper into the report, however, Burger King's results didn't quite hit the spot. Sales trends remain dismal. Fourth-quarter sales fell 15.8% versus the year-ago quarter, and global same-store sales decreased 2.4%. Comps in its U.S. and Canadian restaurants were even worse with a decline of 4.5%.

Read more:
http://www.fool.com/investing/small-cap/2009/08/27/send-this-restaurant-stock-back.aspx

Creditors probe deal that took Station private

A group of creditors in the Station Casinos Inc. bankruptcy case revealed Wednesday it's investigating the 2007 deal in which the Las Vegas company was taken private -- a deal the creditors say involved questionable terms that now threaten recovery of funds by the creditors.
Attorneys for the Official Committee of Unsecured Creditors made the revelation in a motion objecting to plans by Station and some of its bank lenders to spend cash during the bankruptcy process.

Read more:
http://www.lasvegassun.com/news/2009/aug/27/creditors-probe-deal-took-station-private/

Perkins & Marie Callender’s Inc. Reports Results for the Quarter Ended April 19, 2009

Highlights for the first quarter of 2009 as compared to the first quarter of 2008 were:
• Restaurant segment income increased by $0.9 million, or 10.8%, due to lower commodity costs, menu price increases and operational efficiencies. Foxtail segment income increased by $0.2 million due to higher sales prices and lower commodity costs. Overall, adjusted EBITDA, as defined below, increased by $1.0 million.
• Total revenues were down 7.2% to $169.3 million in the first quarter of 2009, primarily due to decreases in comparable sales at Perkins and Marie Callender’s restaurants, resulting from decreased comparable guest counts due to unfavorable economic conditions. Comparable sales for the first quarter of 2009 decreased by 4.9% at Perkins Company-operated restaurants and 6.9% at Marie Callender’s Company-operated restaurants.
• Since the first quarter of 2008, the Company has opened one new Perkins restaurant and closed one Perkins restaurant. One Company-operated Marie Callender’s restaurant has closed since the first quarter of 2008. One Perkins franchised restaurant opened since the first quarter of 2008, and four Perkins franchised restaurants were closed.

Read more:
http://www.perkinsrestaurants.com/news_financials/46Microsoft%20Word%20-%20Press%20Release%20Q1%202009-FINAL.doc.pdf

Miami Fontainebleau battling creditors

As the Fontainebleau Las Vegas battles creditors in a bankruptcy fight, its namesake, the Fontainebleau Miami Beach, faces claims of unpaid bills, too.
More than 30 construction companies, designers, installers and others hired for the $500 million renovation of South Florida's largest resort have filed court claims totaling nearly $65 million -- the result, they say, of bills still unpaid nine months after the 1,504-room oceanfront property reopened amid a global financial crisis

Read more:
http://www.miamiherald.com/business/story/1203923.html

Accor reports 2009 First-Half Results

 Prepaid Services: firm resistance of revenue (up 5.7% like-for-like1) and margin (up
0.4 points like-for-like)
 Hotels:
 Economy hotels outside the US: resilient revenue (down 7.3% like-for-like) and
margin (down 2.3 points like-for-like), led by a solid performance in France
 Upscale and Midscale Hotels and Economy Hotels in the United States: two
segments severely impacted by the crisis
 Operating profit before tax and non-recurring items: €182 million (down 44.5% likefor-
like)
 Robust balance sheet: Funds from operations/adjusted net debt ratio of 21.5%
 Cost-cutting plans already 50% completed in the first half: owned/leased hotels
operating costs reduced by €72 million and support costs by €37 million
Operating costs reduction plan in the owned/leased hotels raised to €150 million from
€120 million
 Full-year target for operating profit before tax and non-recurring items:
€400 million to €450 million

Read more:
http://www.accor.com/fileadmin/user_upload/Contenus_Accor/Finance/PDF/EN/CP_S12009_EN.pdf

Accor Says It May Spin Off Services Unit; Stock Jumps

Aug. 27 (Bloomberg) -- Accor SA, Europe’s biggest hotel owner, said it may spin off its service-voucher unit, reversing previous plans to keep the division and prompting the shares’ biggest gain in almost a year.

Read more:
http://www.bloomberg.com/apps/news?pid=20601205&sid=aZajnbQnGPWs

THE HONGKONG AND SHANGHAI HOTELS, LIMITED

Key financial results
• Turnover decreased by 18% to HK$1,962 million.
• EBITDA decreased by 41% to HK$411 million.
• Profit before non-operating items and taxation decreased by 62% to HK$182 million.
• Profit attributable to shareholders decreased by 71% to HK$462 million.
• Earnings per share decreased by 71% to HK$0.32.
• Shareholders’ funds as at 30 June 2009 amounted to HK$21.3 billion (HK$14.49 per share).
• Adjusted net asset value as at 30 June 2009 amounted to HK$26.3 billion (HK$17.96 per share).
• Gearing ratio increased to 9% (2008: 5%).
• Interim dividend of 3 HK cents (2008: 6.5 HK cents) per share.

Read more:
http://www.hshgroup.com/uploadedfiles/News_Centre/News/pdf/2009%20Interim%20Result%20Press%20Release%20-%20English.pdf

Hotel Receivers Face Long Stay -- and Rich Rewards

The growing wave of U.S. hotels defaulting on their debt has spawned a growth industry for companies that oversee and operate hotels seized by lenders. In many cases, the companies taking over the ailing properties own their own hotels as well. The new business is helping them hang tough during one of the worst hotel markets since World War II.

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http://online.wsj.com/article/SB125124003973558497.html

Oceanfront resort Terranea facing financial challenges

The oceanfront Terranea Resort, built on the former site of the Marineland of the Pacific theme park on the Palos Verdes Peninsula, opened this summer amid much fanfare. But its long-running financial challenges remain.The 582-room luxury hotel and spa, completed in June at a cost of $480 million, remains open and is performing better than expected, according to Bob Lowe, chairman of Lowe Enterprises, the resort's principal.

Read more:
http://www.latimes.com/business/la-fi-terranea20-2009aug20,0,6238518.story

STR Global posts July 2009 results for Europe

LONDON—The European hotel industry posted mixed year-over-year results when reported in U.S. dollars, euros and British pounds for July 2009, according to data compiled by STR Global.
Figures for occupancy, average daily rate and revenue per available room ranged from double-digit losses to double-digit gains, depending on the market and the currency used for comparison

Read more:
http://www.hotelnewsnow.com/articles.aspx?ArticleId=1771

STR Global posts July 2009 results for Middle East/Africa

LONDON—The Middle East/Africa region suffered declines in all three key measurements in year-over-year results when reported in U.S. dollars for July 2009, according to data compiled by STR Global.
The region’s occupancy dropped 11.0 percent to 62.0 percent; average daily rate decreased 3.0 percent to US$135.02; and revenue per available room decreased 13.6 percent to US$83.77.

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http://www.hotelnewsnow.com/articles.aspx?ArticleId=1777

STR Global posts July 2009 results for Asia/Pacific region

LONDON—Hotels in the Asia/Pacific region experienced decreases when reported in U.S. dollars for all three key performance metrics for July 2009, according to data compiled by STR Global.
In year-over-year measurements, the Asia/Pacific region’s occupancy dropped 6.3 percent to 61.7 percent; average daily rate declined 15.9 percent to US$113.20; and revenue per available room fell 21.2 percent to US$69.83.

Read more:
http://www.hotelnewsnow.com/articles.aspx?ArticleId=1778

Diplomats Help Boost Rates at World's Most Expensive Hotels

Amid the recession, rock stars, diplomats and other celebrities find solace from the doom and gloom by spending their time in sanctuary provided by the world's most luxurious, and expensive, hotels. While many of us are tightening our belts, shortening our summer holidays or even abandoning them, hoteliers to the rich and famous claim to have no trouble filling their most exclusive accommodations, and in the case of the most expensive suite in the world, managing to double its rate to $65,000 (€45,642) a night.

Read more:
http://online.wsj.com/article/SB125129933050760795.html

Occupancy rates rise in London, decline elsewhere

PKF's latest survey shows a continuing rise in occupancy in London, in part probably driven by the 27 per cent fall in sterling value against other currencies. It is a measure of the lack of foreign tourists in other parts of the country that despite all the talk about 'staycationing' there has been a small fall in occupancy levels outside the capital.

Read more:
http://www.hoteldesigns.co.uk/file_download.php?ts=1251241200&fn=UK_Hotels_end_of_July_2009.doc

NJ approves new Tropicana ownership led by Icahn

ATLANTIC CITY, N.J. -- New Jersey regulators approved a plan Wednesday for the former corporate parent of Atlantic City's bankrupt Tropicana Casino and Resort to operate the business again as a reorganized company owned by a group of investors led by billionaire Carl Icahn.
The state Casino Control Commission revoked Tropicana Entertainment LLC's casino license in December 2007 after finding that cost-cutting by its former owner, William J. Yung III, left the casino understaffed and dirty.

Read more:
http://www.newsobserver.com/1566/story/1663552.html

Kingdom Hotel Investments H1 profit falls 61%

Kingdom Hotel Investments said first half net profit fell 61 percent, due to weaker results at Four Seasons in Paris and Cairo, as well as lower real estate sales and an impairment charge.Controlled by Saudi billionaire Prince Alwaleed bin Talal, the company also said revenues fell by almost 11 percent, to $103.3m.

Read more:
http://www.arabianbusiness.com/565946-kingdom-hotel-investments-h1-profit-falls-61

Nakheel to Sell Stake in Mirvac for $166 Million

Aug. 26 (Bloomberg) -- Nakheel PJSC, the real-estate developer controlled by Dubai’s government, agreed to sell its stake in Mirvac Group for A$200 million ($166 million).
Deutsche Securities Australia Ltd. will purchase Nakheel’s 172 million shares in Mirvac, an Australian real-estate investment trust, at A$1.1625 a share, according to a regulatory filing to the Australian Stock Exchange today.

Read more:
http://www.bloomberg.com/apps/news?pid=20601206&sid=akN9efAT6bNM

Chipotle Releases Ordering App

[2009-08-25] Chipotle Mexican Grill announced that its new ordering application is available on the Apple App Store. The mobile ordering app gives iPhone and iPod Touch users the ability to create their Chipotle order, place it at the Chipotle location of their choice, and also pay for their food from their device.

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http://www.qsrmagazine.com/articles/news/story.phtml?id=9211&utm_source=RSS_Feed&utm_medium=RSS&utm_campaign=RSS_Syndication

China's hotel and catering report 18% growth

According to the Chinese Ministry of Industry and Information Technology, the accommodation and catering industry recorded total retail sales of approximately US$125 billion in the first half of 2009, reflecting an 18% growth when compared to the same period in 2008
Read more:
http://www.4hoteliers.com/4hots_nshw.php?mwi=6228

Debt-for-equity swap likely at Admiral

Documents state that Admiral Taverns has been in discussions since last October over debts of £855m with Lloyds Banking Group and £106m of loan finance with a secondary banker.
Lloyds Banking Group is likely to write around £450m worth of debt off in line with Admiral Taverns earnings dropping from around £100m to just over £50m after the recession hit the performance of the company.

Read more:
http://www.morningadvertiser.co.uk/news.ma/article/84189

San Francisco Hotel losses mount, hurting city's coffers

On July 8, owners of the stately, 97-year-old Renaissance Stanford Court on Nob Hill defaulted on an $89 million loan. Three weeks later, the glitzy Four Seasons Hotel, built on Market Street in 2001, withheld payment on $90 million it owed.

Read more:
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/08/24/MNBU19ACV5.DTL&type=travel

Hotel per diems to decline in some large cities

The hotel industry’s recession woes will lead to lower hotel per diem rates in many popular federal travel destinations, beginning Oct. 1.

GSA said in a statement that rates overall will increase slightly over fiscal 2009 levels.
“With these new rates, federal employees on official travel can perform their duties on behalf of the American taxpayer while being fairly reimbursed for their travel expenses,” said Michael Robertson, associate administrator for GSA’s Office of Governmentwide Policy.

Read more:
http://www.federaltimes.com/index.php?S=4248796

The Greenbrier resort takes a leap

WHITE SULPHUR SPRINGS, W.Va. -- Hard-charging, sleep-deprived coal baron Jim Justice claims to have never taken a vacation, has four phone lines running into his home to handle business -- he runs 47 companies -- and indeed seems too busy to exhale. But he says he has both the time and energy to save The Greenbrier resort

Read more:
http://www.roanoke.com/news/roanoke/wb/216497

The restaurant lame name shame game

Naming restaurants, like figure skating and sexing puff adders, is a tricky business. It requires that uneasy mix of craft and inspiration. The name must be easy to remember while also telling you all you need to know about what the restaurant is

Read more:
http://www.guardian.co.uk/lifeandstyle/wordofmouth/2009/aug/25/restaurant-names-best-worst

Atlantic City's Hilton casino defaults on mortgage

The Hilton Casino Resort disclosed in a financial statement filed with the New Jersey Casino Control Commission that it failed to make its monthly loan payment on July 9 due to the "severe impact of the current economic conditions."

Read more:
http://www.forbes.com/feeds/ap/2009/08/21/business-financial-impact-us-new-jersey-casinos-missed-payments_6804260.html

Hotwire Reveals Hotel Rate Report for August 2009

SAN FRANCISCO, Aug. 24 /PRNewswire/ -- Hotwire.com®, a leading discount travel site, today announced the results of the August 2009 Hotwire® Hotel Rate Report. This monthly report features the top 10 cities in North America where hotel rates have dropped the most. When combined with Hotwire's already discounted prices, the Hotel Rate Report will help guide customers to the destinations that will maximize their travel dollars. New York City and Vancouver top the list with the largest reductions in hotel prices compared to the previous year, with Minneapolis placing in the top 10 for the first time.

Read more:
http://hotwire.mediaroom.com/index.php?s=43&item=202

Buy or sell a hotel recovery?

NEW YORK (Fortune) -- With its focus on luxury hotels brands like the St. Regis and Westin, Starwood Hotels has been especially hurt by the downturn. The third largest U.S. hotel operator recently cut its 2009 earnings estimate, and CEO Frits van Paasschen expects a slow recovery.
Revenue per available room, the metric that reflects occupancy and the room rates hotels can charge, fell 34% in the last quarter at Starwood's North American hotels. Meanwhile, the company is cutting costs to make up for reduced bookings and selling some properties to raise cash. Yet its stock is up 190% since its March low of $9.52.

Read more:
http://money.cnn.com/2009/08/21/pf/starwood_stock_analysts.fortune/index.htm?section=money_latest

STR reports US performance for July 2009

In year-over-year measurements, the industry’s occupancy fell 7.3 percent to 64.1 percent, ADR dropped 9.1 percent to US$97.18, and RevPAR decreased 15.7 percent to US$62.34.

Read more:
http://www.hotelnewsnow.com/articles.aspx?ArticleId=1763

Want a $10 room in Orlando? Hotels slash rates

Not too long ago, most people didn't want to see the inside of a $10 hotel room.But with travel down noticeably this year because of the recession, even high-end hotels in Orlando are offering eye-opening specials in an increasingly desperate attempt to put more heads in beds.The Monumental Hotel — a former Crowne Plaza on International Drive south of Sea World — offered rooms for $10 one night last weekend. A couple of days later, the Red Roof Inn across the street from the Orange County Convention Center beat it out with a 1-cent promotion.

Read more:
http://www.orlandosentinel.com/travel/orl-travel-orlando-hotel-discounts-082209,0,7106891.story

HVS Publishes the 2009 U.S. Hotel Franchise Fee Guide: A Comparative Analysis of Hotel Brands

“The purpose of our guide is to provide a comparative analysis of various hotel brands, based on the fees they charge,” explains Rushmore, who co-authored the study with Teresa Lam and Kelly Fitzpatrick. “The selection of an appropriate franchise affiliation affects a property’s ability to compete in the local market, generate profits, achieve a certain image or market orientation, and benefit from referral business

Read more:
http://www.hvs.com/bookstore/2009FFGuide.pdf

Global Hotel Market Sentiment Survey

The second half of 2009 may be even bleaker for the hotel industry than the first according to the second Horwath HTL Global Sentiment Survey.
The sentiment scores of the survey, decreased to a global average of negative 40, compared to negative 34, recorded in the initial survey in January.

Read more:
http://www.hotelnewsresource.com/pdf8/horglobmarjul09.pdf

Demand for Hotel Day Rooms Surges

Booking hotel rooms for the day is proving to be the new trend as demonstrated by the success of the world's first website specialised in online day room bookings - www.between9and5.com. Despite only being launched last year, the website has already more than doubled the number of hotels participating in 2009 while the number of bookings has risen by more than 230 percent. This is part of an ongoing trend of more and more hotels selling "day rooms" with same day check-in and check-out to cater to travellers needing to book day rooms to rest and freshen up after a long haul flight or because of delay or long layover between flights

Read more:
http://ehotelier.com/hospitality-news/item.php?id=P16964

UK: Punch Taverns downbeat on pub sector prospects

Punch Taverns, the UK's largest pub owner, has warned that it sees no upturn in trading in the near future.
Consumers are spending less money in the on-trade and there is unlikely to be an improvement in the short-term, Punch said in a full-year trading update today (25 August).

Read more:
http://www.just-drinks.com/article.aspx?id=98262

Luxury Hotel Chains Dropping Five-Star Ratings to Conserve Cash

Aug. 25 (Bloomberg) -- Luxury-hotel chains, the biggest losers in the lodging industry’s decline, are giving up some of their hard-won stars to save money.
Starwood Hotels & Resorts Worldwide Inc., the U.S. owner of luxury brands including St. Regis and W Hotels, will let some of its properties reduce their level of service -- and number of stars -- until the industry begins to recover, spokeswoman K.C. Kavanagh said. Hilton Hotels Corp. and InterContinental Hotels Group Plc have already cut the ratings for some locations.

Read more:
http://www.bloomberg.com/apps/news?pid=20601103&sid=a0Jx2BsWXajo

Burger King Holdings Inc. Reports Fourth Quarter and Full Fiscal 2009 Results

Fourth Quarter Highlights:
- Strong development growth continued with net restaurant count increasing by 115
- Worldwide comparable sales were negative 2.4 percent compared to positive 5.3 percent in the same period last year
- U.S. and Canada company restaurant margins improved 130 basis points to 13.5 percent from 12.2 percent in the same period last year
- Earnings per share were $0.43, including $0.03 per share of negative impact from currency translation, compared to $0.37 in the same period last year

Read more:
http://investor.bk.com/phoenix.zhtml?c=87140&p=irol-newsArticle&ID=1323910&highlight=

Jamba, Inc. Reports Financial Results for the Fiscal Second Quarter of 2009

Highlights for the 12 weeks ended July 14, 2009, compared to the 12 weeks ended July 15, 2008:
- Consolidated EBITDA increased $0.3 million to $10.3 million from $10.0 million for 2Q08.*
- Store-level EBITDA decreased 6.9% to $18.5 million from $19.9 million for 2Q08.*
- Total revenue for 2Q09 decreased 15.1% to $83.2 million from $98.0 million for 2Q08.
- Net loss for 2Q09 of $(5.1) million showed significant improvement when compared to a net loss for 2Q08 of $(89.2) million. Included in the net loss for 2Q09 are a non-cash store impairment charge of $7.5 million, a write-off of $2.9 million for loan fees and discounts relating to the payoff of our senior term note, offset by a gain from derivative liabilities of $1.4 million associated with senior note holder's exercise of its' put option and the June expiration of the Company's warrants. Included in the net loss for 2Q08 are a non-cash charge of $49.7 million for trademark impairment, net of tax, and $3.3 million for store impairment charges, offset by $2.5 million in gain from derivative liabilities.
- Diluted loss per share for 2Q09 of $(0.10) compared to a diluted loss per share for 2Q08 of $(1.69).
- Company-owned comparable store sales for 2Q09 decreased 13.7%(1) ,which contributed to the decrease in store-level EBITDA.

Read more;
http://ir.jambajuice.com/releasedetail.cfm?ReleaseID=404310

Tourist imprisoned in French town hall

A young British woman was locked in the town hall of a small French town overnight after mistaking the "hôtel de ville" for a "hotel".

Read more:
http://www.newsnow.co.uk/h/Industry+Sectors/Tourism/Hotels

Yet another confirmation on why the internet is the only growth channel in 2009-10

The latest eTRAK Q1 2009 report on hotel bookings by channel confirms yet again that today the online channel is the only growth channel in hospitality. In these difficult times, when travel supply outweighed travel demand by far, Internet bookings for the top 30 hotel brands increased by a remarkable 6.3% in Q1 2009 vs. Q1 2008 (eTRAK).

Read more:
http://www.4hoteliers.com/4hots_nshw.php?mwi=6232

Buyers Redefining Dynamic Pricing

AUGUST 17, 2009 -- Travel buyers and hoteliers, fatigued with repeated renegotiations to keep up with constantly falling hotel rates, are exploring dynamic pricing in hotel program negotiations this year, but largely coming to the table with disparate views of what such pricing would entail.During the seller's market of the past few years, the push for dynamic pricing—negotiating a percentage off the best available rate rather than using a flat rate—came largely from hoteliers, while most buyers saw it as a budgeting nightmare (BTNonline, July 31, 2006).

Read more:
http://www.btnonline.com/businesstravelnews/headlines/frontpage_display.jsp?vnu_content_id=1004003459

Marriott Disowns One Hotel's Defense in Rape Case

Marriott International is seeking to distance itself from a legal defense employed by one of its franchise hotels, which suggested that a Connecticut woman "failed to exercise due care" before she was raped at gunpoint in front of her children in a hotel parking garage.

Read more:
http://www.washingtonpost.com/wp-dyn/content/article/2009/08/18/AR2009081803491.html

Cambrian Hotels is liquidated

Cambrian Hotels, which owned the Castle of Brecon hotel in Wales, has been liquidated following its collapse into administration in January this year.
Cambrian Hotels, which owned the 37-bedroom hotel in Powys, appointed Robert Lewis and Derek Howell of PricewaterhouseCoopers (PwC) to handle the administrative process.

Read more:
http://www.caterersearch.com/Articles/2009/08/24/329360/former-castle-of-brecon-owner-cambrian-hotels-is-liquidated.html

Demand for bottom-end pubs remains strong

Demand for bottom-end freehold pubs continues to be strong despite the pressures facing the sector, according to property agent Christie & Co.
Christie’s has just completed the sale of two such pubs in Edinburgh which had been closed for three years and one of which sold within a week of being placed on the market.

Read more:
http://www.caterersearch.com/Articles/2009/08/24/329361/demand-for-bottom-end-pubs-remains-strong.html

Restuarnt Stock Performance - Update

Updated stock performance as of Friday August 21, 2009

http://workspace.office.live.com/?id=pACQ1ZDcxYzM1MS01ZTc1LTRjMmMtYTEwOC1kNmE1NDYyMWM5YmMAe-ErNRhlSFNIk3-1-lgw21x9ACdlcmljLmhlcnRoYUBob3NwaXRhbGl0eWJ1c2luZXNzbmV3cy5jb20AABQ6jNJEgtTOoo12_fkSnyhkfWMtOAAA&cid=40

Chipotle Mexican Grill: Healthy Balance Sheet, Smoking Stock

CMG has become highly successful by offering fast service and high-quality Mexican food in a casual atmosphere. All dishes are prepared using fresh ingredients. The company emphasizes the use of raw ingredients that are raised without the use of animal byproducts, antibiotics or hormones, as well as produce that is grown using sustainable farming methods.

Read more:
http://seekingalpha.com/article/157866-chipotle-mexican-grill-healthy-balance-sheet-smoking-stock?source=yahoo

Unity House bids $8.5M for former W hotel

A nonprofit organization that serves union workers was the high bidder at a foreclosure auction Tuesday for the Lotus at Diamond Head hotel.
Unity House Inc. bid $8.5 million for the former W Honolulu hotel, outbidding lenders First Hawaiian Bank and Central Pacific Bank at the public auction outside 1st Circuit Court in Honolulu.

Read more:
http://www.bizjournals.com/pacific/stories/2009/08/17/daily27.html

London restaurants ride out recession

The economic downturn has not dimmed Londoners’ appetite for eating out with fewer restaurants closing in the past year than at any time since 2000 according to the latest edition of Harden’s London Restaurants.
Only 64 London restaurants have closed over the past year which is slightly below the normal annual level while the average price of dining out rose 1.6 per cent to £40.73.

Read more:
http://business.timesonline.co.uk/tol/business/industry_sectors/leisure/article6804384.ece

That order taker may be at home

Instead of getting the usual greeting from a restaurant worker shouting over the din of a noisy kitchen, customers who drive through the McDonald's in Sellersburg, Ind., might have their orders taken by a stay-at-home mom in North Dakota.

Read more:
http://www.courier-journal.com/apps/pbcs.dll/article?AID=2009908150334

Host Hotels to sell up to $400 mln shares

NEW YORK, Aug 20 (Reuters) - Host Hotels & Resorts (HST.N) plans to sell up to $400 million of shares, which it expects to use for future acquisitions, repaying debt and general purposes, the hotel owner said in a filing on Thursday.
Based on its Wednesday closing price of $9.67, Host, which owns 113 luxury and upper-upscale properties, could sell slightly more than 41 million shares.

Read more;
http://uk.reuters.com/article/idUKN2051204720090820?rpc=401&

Militants behind Indonesia hotel bombs plotted to shoot Barack Obama

Militants behind the hotel bombings in Jakarta also planned to use snipers to attack Barack Obama’s convoy, according to an intelligence expert.
A link between the suicide bombings at the JW Marriott and Ritz-Carlton hotels on July 17, which killed nine people and wounded 53, and funding from a group linked to al-Qaeda is also being investigated, Dynno Chressbon, from the Centre for Intelligence and National Security, said.

Read more;
http://www.timesonline.co.uk/tol/news/world/asia/article6804565.ece

Rotherham seeks minimum price for pubs

Rotherham licensees are being asked to sign up to a “voluntary” code of conduct that includes a form of minimum pricing at £1 per drink.

The code, drawn up by the police and local council with the help of licensees, will also outlaw all-inclusive deals and ensure door prices aren’t connected to the sale of alcohol. It also commits venues to abide by Challenge 21, mirroring “contracts” signed by hosts in Bexley, Kent

Read more:
http://www.morningadvertiser.co.uk/news.ma/article/84136

New Issue-Yum Brands sells $500 mln in two parts

Aug 20 (Reuters) - Yum Brands Inc (YUM.N) on Thursday sold$500 million of senior notes in two parts, said IFR, a ThomsonReuters service.

Read more;
http://www.reuters.com/article/marketsNews/idINN2055059820090820?rpc=44

Egypt's Travco buys German hotel firm Steigenberger

CAIRO, Aug 20 (Reuters) - Egyptian tourist company Travco said on Thursday it had acquired Germany's Steigenberger Hotels as part of efforts to expand its international operations.
Travco, which values its assets in excess of 1.25 billion euros ($1.78 billion), did not disclose a value for the deal, citing an agreement between the two family-owned firms.

Read more:
http://in.reuters.com/article/consumerproducts-SP/idINLK69273620090820

Sandals Resorts International Purchases Four Seasons In Great Exuma, Bahamas

MONTEGO BAY, Jamaica, Aug. 20 /PRNewswire/ -- Sandals Resorts International (SRI), parent company of Sandals Resorts, Beaches Resorts, The Royal Plantation Collection and Grand Pineapple Beach Resorts, today announced the purchase of the recently shuttered Four Seasons Resort Great Exuma at Emerald Bay for an undisclosed sum. According to Sandals Resorts Founder and Chairman, Gordon "Butch" Stewart, the 500-acre property, which features a championship Greg Norman golf course and world-class marina, is set to become a Sandals Resort and will be called Sandals Emerald Bay, Great Exuma, Bahamas. Following certain enhancements customary to the Sandals Resorts brand, including an expansive new pool complex and additional dining establishments, the resort will open January 22, 2010.

Read more:
http://news.prnewswire.com/ViewContent.aspx?ACCT=109&STORY=/www/story/08-20-2009/0005081017&EDATE=

California's $19 luxury hotel room without a bed

Destination California is not its usual robust self. Hotel foreclosures are up, room occupancy is down, and according to a report released by the Los Angeles County Economic Development Corporation (LAECD), "tourist activity literally fell off the table" at the end of last year. The picture is notably bleak in San Diego, where the average daily room rate fell by 13.1% in the first half of 2009.

Read more:
http://www.guardian.co.uk/travel/2009/aug/20/19-dollar-hotel-without-bed

Glenview hotel loan set to sell at big discount

(Crain’s) — A Georgia hotel investor has agreed to buy a loan on a Wyndham hotel in Glenview at a 60% discount as the property’s lender moves forward with a foreclosure suit.
Douglas Artusio, whose Chicago-area investments include a stalled River North hotel development, plans to buy the note on the Wyndham Glenview Suites, a transaction that ultimately would allow him to take control of the 253-room hotel, which was slapped with a foreclosure suit in February.

Read more:
http://www.chicagorealestatedaily.com/cgi-bin/news.pl?id=35180

Hotel Burnham misses interest payments

(Crain’s) — The owner of the Hotel Burnham in the Loop has stopped making interest payments on a $36-million loan, joining a growing list of local hotels that have run into loan trouble.
The drop-off in business and leisure travel this year has sent occupancies and room rates plunging at Chicago-area hotels, leaving many with little cash flow to cover loan payments.
The victims now include the Burnham, a historic 122-room hotel at 1 W. Washington St. owned by a joint venture between Chicago developers Dan McCaffery and E. Barry Mansur.

Read more:
http://www.chicagorealestatedaily.com/cgi-bin/news.pl?id=35178

Stanley Ho Shows He Makes Macau Money Vegas Men Can’t Replicate

Aug. 20 (Bloomberg) -- On a sultry June morning in Macau, casino billionaire Stanley Ho strode into the Venetian, the gambling palace of American archrival Sheldon Adelson, and reflected on life, death and how not to succeed in the world’s biggest gaming market.

Read more:
http://www.bloomberg.com/apps/news?pid=20601205&sid=atoSngbDQRzI

AFC Reports Financial Results for Second Quarter 2009; Announces Amendment to Credit Facility

ATLANTA Aug. 19 /PRNewswire-FirstCall/ -- AFC Enterprises, Inc. (Nasdaq: AFCE), the franchisor and operator of Popeyes , today reported results for its second fiscal quarter of 2009 which ended July 12, 2009, and announced an amendment to its current credit facility. The Company also updated earnings guidance for fiscal 2009 and provided an update on its strategic plan.

Read more;
http://phx.corporate-ir.net/phoenix.zhtml?c=125194&p=irol-newsArticle&ID=1322513&highlight=

Suit claims MGM Mirage misled shareholders

Multiple law firms announced Wednesday they are taking MGM Mirage to court on behalf of shareholders they say were damaged by misleading information about the gaming company's financial prospects.
At least one shareholder lawsuit against MGM Mirage was filed. It wasn't immediately clear if the law firms were participating in the same suit, or if they had filed separate suits.

Read more:
http://www.lasvegassun.com/news/2009/aug/19/suit-claims-mgm-mirage-misled-shareholders/

Notable Financing at Empire Resorts

MONTICELLO, N.Y.--(BUSINESS WIRE)--Empire Resorts, Inc. (NASDAQ: NYNY - News) (the “Company”) announced today that it has entered into an Investment Agreement with Kien Huat Realty III Limited (“Kien Huat”) under which $55 million in new equity capital will be invested in the Company in two tranches in exchange for Common Stock representing just under 50% of the voting power of the Company.

Read more:
http://seekingalpha.com/article/157187-notable-financing-at-empire-resorts?source=yahoo

Authorities investigate hacking of Radisson’s US computer systems

Federal authorities are investigating the hacking of computer systems which include guests’ names and credit card information, across various Radisson Hotels & Resorts in the United States and Canada.
The hotel group, whose major shareholder is US company Carlson, confirmed yesterday that its computer systems were accessed between November 2008 and May of this year.

Read more;
http://www.caterersearch.com/Articles/2009/08/20/329327/authorities-investigate-hacking-of-radissons-us-computer.html

Wyndham CEO: Vacation timeshare business still a bright spot for us

This the final installment of my Q & A with Wyndham CEO Steve Holmes.
Since Wyndham Worldwide's known for its vacation timeshare units, I asked him how that portion of the business is doing in light of the recession and the credit crunch. Earlier this year, Wyndham

Read more:
http://content.usatoday.com/communities/hotelcheckin/post/2009/08/68497366/1

Harp Group Puts Two Hotels In Chapter 11

Hotel owner Harp Group Inc. put two of its properties, the InterContinental Chicago O’Hare and the Radisson at Los Angeles International Airport, into Chapter 11 bankruptcy protection after failing to renegotiate $278m of debt.

Read more:
http://www.financierworldwide.com/article.php?id=4780

Cheap rents spur retail expansion

Despite the hoard of bankruptcy filings and closures of store locations, more than four dozen national retailers have actually expanded in New York City within the last year.
According to a report issued by the Center for an Urban Future, 53 chains have opened more stores here. Among them are fast food purveyors Dunkin’ Donuts, McDonald’s and Subway, as well as drugstore Walgreens. Even Starbucks, which closed about a dozen New York City locations last summer, expanded its fleet by 13 outposts.

Read more:
http://www.crainsnewyork.com/article/20090818/FREE/908189985

Analyst: FelCor could forfeit hotels, boost value

FelCor shares gained 16 cents, or 5 percent, to $3.39 in midday trading. Shares have traded between 66 cents and $10.19 in the past 12 months.
R.W. Baird analyst David Loeb wrote in a note to investors that the hotel real estate investment trust could forfeit to lenders its "underwater," or negative-equity mortgages, where the property's value is less than the debt still owed on it. Abandoning the properties to lenders, he said, would boost the value of the remainder of the company. He calculated that its equity value could increase by $2 per share.

Read more:
http://finance.yahoo.com/news/Analyst-FelCor-could-forfeit-apf-107231653.html?x=0&.v=1

June a Severe Blow for the French Hotel Industry

Get the full report from Deloitte, France
http://www.hotelnewsresource.com/pdf8/del081809.pdf

STR forecast: Supply growth to stifle RevPAR in 2010

HENDERSONVILLE, Tennessee—RevPAR declines are expected to continue into the convention season according to STR’s revised monthly forecast. The company also revised its forecasts for year-end 2009 and 2010.

STR’s forecast projects 2009 occupancy to be down 8.4 percent to 55.4 percent and ADR to decline 9.7 percent to US$96.43. It projects RevPAR to end 2009 with a 17.1-percent decrease to US$53.41. Supply in 2009 is projected to increase 3.0 percent, while demand is expected to end the year down 5.5 percent.

Read more;
http://www.hotelnewsnow.com/articles.aspx?ArticleId=1716

Prepare for Commercial Real Estate Bust?

Hotel rooms in London to grow by 12% by 2012

London is due to experience a 12% increase in new hotel rooms by 2012, according to new research from Visit London and TRI Hospitality Consulting.

Read more;
http://www.caterersearch.com/Articles/2009/08/19/329273/hotel-rooms-in-london-to-grow-by-12-by-2012.html

Wynns sell 2 million shares of stock ahead of divorce

Wynn Resorts Ltd. of Las Vegas today said Chairman and Chief Executive Steve Wynn and his wife Elaine Wynn sold 2 million shares of Wynn Resorts stock Friday in anticipation of the completion of their divorce proceedings.

Read more:
http://www.lasvegassun.com/news/2009/aug/18/wynns-sell-2-million-shares-stock-ahead-divorce/#comments

Manhattan Hotels Fill Rooms at Rock-Bottom Rates

In June, the average occupancy rate nationwide was 54.6 percent — by far the worst performance since Smith Travel Research of Hendersonville, Tenn., began keeping track in 1987. Distress is rampant, with increasing numbers of hotel owners surrendering control of their properties to their lenders.
As often happens, however, the Manhattan hotel market is a special case. Hotels in Manhattan also lost business in the financial crisis. But in April, rooms began filling up, sending the occupancy rate back over 80 percent. In July, 83.3 percent of the rooms were filled, a 5.6 percent decline since last year but still the highest occupancy rate in the nation, preliminary Smith Travel data shows.

Read more:
http://travel.nytimes.com/2009/08/19/realestate/commercial/19hotel.html?partner=rssnyt&emc=rss

Blumenthal and Ramsay top restaurant guide

Heston Blumenthal's Fat Duck restaurant was rated as a perfect 10 in the new edition of the Good Food Guide 2010, its editor said today.
It beat Gordon Ramsay's eponymously named Chelsea establishment, which was the only place in the country to score nine out of 10.

Read more;
http://www.independent.co.uk/life-style/food-and-drink/news/blumenthal-and-ramsay-top-restaurant-guide-1774168.html

Brinker International Inks Franchise Deal to Expand Into Russia

DALLAS, Aug. 18 /PRNewswire-FirstCall/ -- Brinker International, Inc. (NYSE: EAT), has entered into a development agreement with developer Trio's Group Ltd. to establish Chili's(R) Grill & Bar in Russia. As part of the deal, 25 restaurants are planned for development in the Russian Federation by June 2017, with the first Chili's opening in November 2010 in Moscow.

Read more;
http://news.prnewswire.com/ViewContent.aspx?ACCT=109&STORY=/www/story/08-18-2009/0005079610&EDATE=

Brazil Fast Food Announces Second Quarter 2009 Results

Second Quarter 2009 Highlights
-System-wide sales reached R$ 150.7 million, up 33.5% from the second quarter of 2008
-Total revenue reached R$42.0 million, up 64.2% from the second quarter of 2008
-Operating income totaled R$1.7 million
-Net income was R$350 thousand, or R$0.04 per basic and diluted share

Read more;
http://www.businesswire.com/portal/site/home/permalink/?ndmViewId=news_view&newsId=20090818006310&newsLang=en

Arby’s® Expands with Development Agreements for 47 New Locations in the U.S. and Canada

ATLANTA--(BUSINESS WIRE)--Arby’s Restaurant Group, Inc., a subsidiary of Wendy’s/Arby’s Group, Inc. (NYSE: WEN), announced today that it has signed agreements in the first half of 2009 with 11 new and seven existing franchisees for the development of 47 new Arby’s restaurants in the U.S. and Canada.

Read more:
http://www.businesswire.com/portal/site/home/permalink/?ndmViewId=news_view&newsId=20090818006011&newsLang=en

CKE Restaurants, Inc. Reports Period Seven and Second Fiscal Quarter Same-Store Sales and Gives Guidance on Restaurant Operating Costs

“Our management team’s focus on stemming the decline in same-store sales looks to have gained some traction in period seven,” said Andrew F. Puzder, chief executive officer. “During period seven, we continued to see the benefit of our popular Teriyaki Burgers at Carl’s Jr. supported with an ad starring Audrina Patridge from ‘The Hills’ television show. Since we rolled out this product mid-way into period six, the Teriyaki Burgers have been among the best selling premium burgers on our menu. We offer it on all three of our burger platforms starting at approximately $2.89.

Read more:
http://finance.yahoo.com/news/CKE-Restaurants-Inc-Reports-bw-4166334525.html?x=0&.v=1

Making Money In China's Economy Hotels

SHANGHAI -- After turning itself into one of the world's largest economy hotel chains in the seven years, Home Inns & Hotels Management of Shanghai is gearing up for a new feat: It wants to become one of the most successful franchisers in this economically booming country, too.

Read more:
http://www.forbes.com/2009/08/18/home-inns-shanghai-markets-equities-china.html?partner=yahootix

Alleged Dave & Buster's card data thief faces more charges

WASHINGTON (Aug. 18, 2009) A man arrested last year for allegedly stealing credit and debit card data from the Dave & Buster's chain on Monday was named in a federal indictment accusing him of illegally gathering information tied to more than 130 million cards, including those handled by Heartland Payment Systems, a processor that serves an estimated 60,000 restaurants.
Albert Gonzalez, 28, of Miami, and two unnamed co-conspirators were accused of conspiracy and conspiracy to engage in wire fraud related to what federal officials called the largest alleged credit and debit card data breach ever charged in the United States. The indictments were outlined in a statement from the Department of Justice citing officials from the U.S. attorney general's office and the Secret Service.

Read more;
http://www.nrn.com/article.aspx?id=371466

Recession Chills Sunshine State Tourism

Florida's hotels, theme parks and restaurants have suffered as out-of-state travelers vacation closer to home, or spend less time and money on trips to the Sunshine State. With tourism generating as much as 15% of total state tax revenue, and responsible for as many as one million jobs, many see the tepid summer season as evidence that good times are still a long way off.

Read more:
http://online.wsj.com/article/SB125029395091933479.html?mod=dist_smartbrief

Steak n Shake to buy Western Sizzlin

The Steak n Shake Co.’s announcement this morning that it plans to purchase Western Sizzlin Corp. for about $23 million puts the Indianapolis restaurant company back in the steakhouse business for the first time since exiting it nearly a decade ago.In 2000, the company — then known as Consolidated Products Inc. — sold off its 11 Colorado Steakhouses in order to focus on its core Steak n Shake business.

Read more;
http://www.ibj.com/html/detail_page.asp?content=43869AmpersandRedirected=true

O’Hare hotel developer files Chap. 11

(Crain’s) — The developer of the new InterContinental Chicago O’Hare in Rosemont has filed for Chapter 11 bankruptcy protection.

The 556-room hotel, which opened last September, has struggled amid the sharp downturn in travel brought on by the recession. Reasons for the bankruptcy weren’t disclosed in the petitions, which were filed Monday in U.S. Bankruptcy Court in Chicago by six development entities led by Oak Brook-based Harp Group Inc.

Read more;
http://www.chicagorealestatedaily.com/cgi-bin/news.pl?id=35163

US Construction Update - Q2 - 2009

For the first time, Lodging Econometrics (LE) has compiled and announced its forecast for New Hotel Openings for 2011. New hotel openings are projected at 759 hotels/74,493 rooms. LE has also adjusted its forecasts for 2009 and 2010. The 2009 forecast has been reduced to 1,425 new hotels/156,653 rooms, down by 5,036 rooms, a decrease of 3%. The 2010 forecast has been adjusted to 1,073 projects/
124,439 rooms, down 21,277 rooms or 15%.

Read more:
http://www.hotelnewsresource.com/pdf8/LE081709US.pdf

Hotel Owners walk away from mortgages

Morgans Hotel: A Zombie Company Bleeding Cash and Defaulting on Loans

Morgan Hotel Group (MHGC) “owns” several heavily mortgaged hotels, operates a few more, and is involved in several others as joint ventures. These properties are generally high end independent hotels, which is the single worst performing segment of the very weak lodging industry. In the most recent quarter, MHGC’s Revenue per Available Room plummeted 39.5%, by contrast for the overall hotel industry this metric was around -20%. MHGC’s hotels are suffering from severe double whammy: less overall travel and substitution from high-end to mid-priced and business class hotels

Read more:
http://seekingalpha.com/article/156544-morgans-hotel-a-zombie-company-bleeding-cash-and-defaulting-on-loans?source=yahoo

Weekly Restaurant Stock Update

Here is the link to the stock update:

Houston’s refuses to submit to NYC law; challenging in court

California-based restaurant chain Houston’s doesn’t like New York City’s calorie labeling law, and it has refused to submit to it, setting the stage for a battle with city health officials.
With more than 30 restaurants across the country, including two in Manhattan, the upscale chain falls under the city’s definition of a company required to include caloric information on its menus here. But diners won’t find calories listed anywhere at either of the restaurants, on East 53rd Street and Third Avenue and East 27th Street and Park Avenue South.

Read more:
http://www.crainsnewyork.com/article/20090816/FREE/908159995

Lack of finance could stifle restaurant industry recovery

A survey of members of the British Hospitality Association's National Restaurants Group, and conducted by the accountancy firm BDO Stoy Hayward, reveals that over one-third of businesses believe there will be slight growth in both 2009 and 2010 while a similar number believes there will be strong growth in 2010.

The survey warns, however, that growth in the future will be curtailed if finance is not made more readily available. This is widely considered to be one of the most inhibiting factors to restaurant expansion.
Read more:
http://www.costsectorcatering.co.uk/online_article/lack-of-finance-could-stifle-restaurant-industry-recovery/8369

Chain Restaurants Q2 Earnings: What's Going on?

Most of the chain restaurant earnings for the quarter are now in, but it will be interesting to watch Burger King (BKC) on August 25. This quarter, virtually all companies beat analysts estimates based on commodity and other cost structure reductions, all of which essentially fall 100% through to the bottom line.
So beating projections on cost decreases is good but should be no surprise in this sector right now.

Read more:
http://seekingalpha.com/article/156468-chain-restaurants-q2-earnings-what-s-going-on?source=yahoo

Alternative Hotel Group in debt talks with Lloyds

The company behind some of Britain’s most prestigious hotels is set to open talks about a restructuring of its £1.4 billion debt pile.
Alternative Hotel Group, which owns properties such as Cameron House in Scotland and Slaley Hall in Northumberland through its De Vere chain, is to begin negotiations with its lender Lloyds Banking Group after the bank appointed Deloitte to carry out an independent review of the business.

Read more:
http://business.timesonline.co.uk/tol/business/industry_sectors/leisure/article6797711.ece

Dubai Holding to Focus on Four Businesses

Aug. 16 (Bloomberg) -- Dubai Holding LLC, a diversified group owned by Dubai ruler Sheikh Mohammed Bin RashidAl Maktoum, plans to focus on four businesses, including property and hospitality, as part of a restructuring.

Read more;
http://www.bloomberg.com/apps/news?pid=20601206&sid=aC7phLh7NeIY

2011 Latin America Pipeline: 132 Hotels, 23,693 Rooms

Lodging Econometrics (LE) has compiled and released its first 2011 Forecast for New Hotel Openings in Latin America, projected to be 132 hotels/23,693 rooms. Adjusted for the global recession, LE has made further downward revisions to its forecasts for 2009 and 2010.Still, Latin America remains in the midst of a four-year New Openings surge that began in 2008. 151 new hotels/26,204 rooms are expected to open in 2010, a cyclical high for room counts. The 2009 forecast calls for 220 new hotels/20,754 rooms to come online, of which 73 hotels/10,678 rooms opened in Q1-Q2.

Read more:
http://www.hotelsmag.com/article/ca6676859.html

NPC International, Inc. Reports Second Fiscal Quarter 2009 Earnings

OVERLAND PARK, KANSAS, (AUGUST 14, 2009) - NPC International, Inc. (the "Company"), today reported results for its second fiscal quarter and year-to-date period ended June 30, 2009.
SECOND QUARTER HIGHLIGHTS:
-Non-GAAP Adjusted EBITDA from continuing operations (reconciliation attached) of $25.6MM exceeded the prior year by $6.4MM or 33.1%.
Income from continuing operations of $3.4MM was $2.3MM greater than the $1.1MM recorded last year.
-Debt declined $12.1MM from the first quarter to $438.7MM and our Leverage Ratio remained largely the same as our first quarter at 3.83X Consolidated EBITDA, as defined in our credit agreement.
-Comparable store sales from continuing operations declined -12.6% rolling over an increase of +7.2% last year.

Read more:
http://www.npcinternational.com/investors/financial_report/66

Restaurant Marketing: iPhone Revolutionizing Restaurant Marketing

Restaurant Marketing: The iPhone, Blackberry and other smartphones are revolutionizing restaurant marketing and the way guests find restaurants. Specific dining “apps” have been developed that that can be downloaded onto smartphones that are either exclusive to specific chains or exclusive to specific food categories. Most apps feature location-based technology. For the user, they provide instant information just with the tap of your finger. For the restaurants, they get in front of the millions who are depending on their smartphones for instant dining information.

Read more:
http://www.restaurantmarketingblog.com/index.php/weblog/restaurant_marketing_iphone_revolutionizing_restaurant_marketing/

Analyst increases Las Vegas Sands price target

NEW YORK -- An analyst boosted Las Vegas Sands Corp.'s price target Friday after the casino operator reworked a credit agreement so that it could potentially sell a minority stake in its Macau operations to raise cash.
Thursday, the Sheldon Adelson-led Las Vegas Sands said the amended Macau facility would improve its financial flexibility.

Read more:
http://www.newsobserver.com/1566/story/1647242.html

Hotel's rooms for 1p blunder costs thousands

It was an offer to lure even the most committed "staycationer" away from UK shores: a two-night stay at a four-star hotel near Venice for €0.01, or less than a penny.
Rooms at the Crown Plaza Venice East Quarto D'Altino normally cost between £90 and £150 a night, so when the deeply discounted rate started appearing on travel websites it prompted a sudden flurry of reservations.

Read more:
http://www.guardian.co.uk/world/2009/aug/14/crown-hotel-venice-promotion-error

Unpaid debt leads to $1 million lawsuit in Turks and Caicos

PROVIDENCIALES, Turks and Caicos Islands -- On July 24, Condé Nast Publications, a leading publishing company that is home to numerous magazines and websites, filed a lawsuit in a New York District Court seeking to recover more than one million dollars in unpaid advertising, attorney’s fees, and interest from the Turks and Caicos Tourist Board. According to the court papers, the TCI Tourist Board failed to pay for advertising that appeared in 2007 and 2008 issues of W magazine, Elegant Bride, and Vanity Fair, as well as ads in the 2007 Fashion Rocks.

Read more:
http://www.caribbeannetnews.com/turks/turks.php?news_id=18047&start=0&category_id=37

Las Vegas Hilton’s earnings tumble in second quarter

The decline in visitation to Las Vegas this spring hurt business at the Las Vegas Hilton, which sustained a loss for the second quarter ended June 30.
The 3,174-room Paradise Road property is owned by affiliates of Los Angeles investment group Colony Capital and other investors.
It lost $10.552 million during the June quarter vs. a profit in the year-ago period of $3.394 million, a regulatory filing showed Thursday.
Revenue declined from $75.5 million to $45.2 million.

Read more:
http://www.lasvegassun.com/news/2009/aug/13/hiltons-earnings-tumble-second-quarter/

Renaissance Syracuse Hotel faces foreclosure

SYRACUSE, N.Y. -- The downtown Renaissance Syracuse Hotel, a 20-story landmark that was reborn in 2003 following a $19 million renovation, has fallen on hard times. The 279-room hotel is under the control of a court-appointed receiver while the hotel's mortgage lender pursues foreclosure.
The recession, and a resulting drop in room occupancy, are largely to blame, according to Hypo Real Estate Capital Corp., a German-owned lender that holds the $28 million mortgage on the hotel.

Read more:
http://www.syracuse.com/news/index.ssf/2009/08/syracuse_renaissance_hotel_fac.html

Brighton the worst of UK's 'poor value' hotels

To anyone with a little experience of the world, it will hardly come as a surprise: British hotels are poor value compared to their international counterparts.

While it may not be something that anyone working outside the UK hotel trade needed empirical evidence to confirm, a survey by online outfit hotel.info has found that UK establishments fare badly on value for many ratings compared to dozens of cities worldwide.

Read more:
http://www.thisismoney.co.uk/news/article.html?in_article_id=489582

Hotel florist smuggled in explosives for suicide blasts

WHEN bomb blasts tore through two luxury hotels in Indonesia's capital where Andi Suhandi worked as a florist, he tried to phone a colleague to make sure he was safe.
There was no answer. Flower arranger Ibrohim Muharram went missing after the twin suicide attacks at the Marriott and Ritz-Carlton hotels on 17 July that killed seven people and wounded more than 50 others. Within days, it emerged he had resigned from his job on the morning of the bombings

Read more:
http://news.scotsman.com/latestnews/Hotel-florist-smuggled-in-.5554060.jp

Dubai hotels draw investors

More foreign buyers eye hotel properties in Dubai for investment as returns remain high despite the global crisis, but sellers are scarce and deals are hampered by the difficulty to get loans, industry experts said.
"If you compare five-star properties in Paris and Dubai, both well-located, your return on investment is much better in Dubai," said Amine Hamdani, manager and surveyor at global real estate service company CB Richard Ellis

Read more:
http://www.tradearabia.com/news/newsdetails.asp?Sn=TTN&artid=165797

Bankruptcy for Burger King franchisee

A major Brooklyn Burger King franchisee, AJA New York Restaurant Holdings, filed for Chapter 11 bankruptcy protection. Citing assets between $1 million and $10 million, and liabilities in the same range, the company owes money to fewer than 50 creditors.
AJA New York, under the leadership of Chief Executive Alfred Poe, three years ago acquired the nine Burger Kings, located in Brooklyn and Queens, from N.J.-based Coastal Management Corp.
Mr. Poe could not be reached on Thursday. His legal counsel, Daniel Brown of law firm Damon Morey, said the downturn prompted the filing.

Read more:
http://www.crainsnewyork.com/article/20090813/FREE/908139985

Demand Decline To End In Q2 2010—PKF

PKF Hospitality Research (PKF-HR) today announced that, according to an advance release of the September 2009 edition of Hotel Horizons, nine consecutive quarters of declining lodging demand will come to an end in the second quarter of 2010.

Read more:
http://www.hotelsmag.com/article/ca6676606.html

500 pubs sign up for parcel delivery scheme

Householders and licensees who sign up to the scheme on www.useyourlocal.com arrange for their packages to be delivered to their local when they aren’t home to collect them.
The scheme is the brainchild of former Scottish & Newcastle employee Stuart Mills. He said: “I adore the British pub and its importance as part of the fabric of our country. With the number of pub closures in Britain reaching 52 a week, useyourlocal.com helps pubs to take back their place in the community.

Read more:
http://www.morningadvertiser.co.uk/news.ma/article/84071

EPL Intermediate, Inc. (El Pollo Loco) Announces Results for the 13 Weeks and 26 Weeks Ended June 30, 2009

El Pollo Loco reported operating revenue for the 13-week second quarter ended June 30, 2009 of $72.7 million, which is a decrease of $3.7 million, or 4.9%, below operating revenue for the 13-week quarter ended June 30, 2008 of $76.4 million. Operating revenue includes sales at company-operated stores and franchise revenue. The decrease in company-operated restaurant revenue was primarily attributed to a 7.0% decrease in company-operated same-store sales for the second quarter of 2009 compared to the second quarter of 2008 and lost sales of $0.5 million from the closure of three company-operated restaurants in 2008. The decrease was partially offset by an increase in restaurant revenue of $1.8 million from nine restaurants opened in 2008 and by $0.6 million generated from two restaurants opened in 2009.

Read more:
http://www.elpolloloco.com/pdfs/EPL_Earnings_Q12009.pdf

Red Robin Gourmet Burgers Reports Earnings for the Fiscal Second Quarter 2009

Financial and Operational Highlights
Highlights for the 12 weeks ended July 12, 2009, compared to the 12 weeks ended July 13, 2008, are as follows:
-Total revenues decreased 2.6% to $201.1 million.
-Restaurant revenue decreased 2.4% to $198.0 million.
-Company-owned comparable restaurant sales decreased 11.5%.
-Restaurant-level operating profit decreased 6.0% to $35.6 million.
-GAAP diluted earnings per share were $0.41 vs. $0.49 in the same period a year ago, which included a $0.03 charge for reacquired franchise costs and related acquisition integration expenses in the fiscal second quarter of 2008.

Read more:
http://phx.corporate-ir.net/phoenix.zhtml?c=131715&p=irol-newsArticle&ID=1320649&highlight=

STR reports US pipeline for July 2009

HENDERSONVILLE, Tennessee—The total active U.S. hotel development pipelineincludes 4,554 projects with 487,831 rooms, according to the July 2009 STR/TWR/Dodge Construction Pipeline Report released this week. This represents a 26.2-percent decrease in the number of rooms in the total active pipeline compared to July 2008. The total active pipeline data includes projects in the In-Construction, Final Planning and Planning stages, but does not include projects in the Pre-Planning stage.

Read more:
http://www.hotelnewsnow.com/articles.aspx?ArticleId=1696

Sbarro, Inc. Announces Results of Operations for the Second Quarter and Six Months Ended June 28, 2009

Net loss attributable to Sbarro, Inc. for the quarter ended June 28, 2009 was $6.5 million as compared to a net loss of $5.0 million for the quarter ended June 29, 2008. The increase was primarily the result of a $3.2 million increase in tax expense in the quarter as compared to the second quarter of 2008. Without consideration for taxes, net loss decreased approximately $1.7 million, or 21%.

Read more:
http://news.prnewswire.com/ViewContent.aspx?ACCT=109&STORY=/www/story/08-12-2009/0005076738&EDATE=

Flanigan's Reports 3rd Quarter Earnings

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http://news.prnewswire.com/ViewContent.aspx?ACCT=109&STORY=/www/story/08-11-2009/0005075932&EDATE=

BOB EVANS ANNOUNCES FIRST-QUARTER RESULTS

Chairman and Chief Executive Officer Steve Davis said effective cost management enabled the Company to meet its first-quarter operating income goals, despite significant top-line challenges. “The restaurant segment continues to improve its profitability due to lower cost of sales and well-controlled labor costs, even with negative sales relative to the prior year,” Davis said. “This improvement more than offset the food products segment’s operating income decline, which was due primarily to a 51 percent year-over-year increase in sow costs.

Read more:
http://www.bobevans.com/investors/default.aspx

Blackstone denies Hilton split rumours

Hilton's private equity owner, the Blackstone Group, has denied rumours that the hotel giant is to be broken up in a bid to realise its value.
A spokesman for Blackstone said the plans, reported last week in the Independent, were "categorically untrue". However, speculation remains rife as to how the private equity firm can claw back its lost value ahead of its repayment deadlines in three or four years.

Read more:
http://www.caterersearch.com/Articles/2009/08/12/329180/blackstone-denies-hilton-split-rumours.html

Atlantic City casinos drop to bargain-basement prices amid recession, mountains of debt

In recent weeks, the Tropicana Casino and Resort was sold for $200 million of deeply discounted debt. This week, Donald Trump, his daughter Ivanka and Dallas-based Beal Bank reached a deal to pay $100 million for all three casinos owned by Trump Entertainment Resorts, subject to bankruptcy court approval.
The sales are yet another symptom of the woes facing the casino industry nationwide.
Atlantic City and Las Vegas have been hard hit by the economic downturn, which has led gamblers to keep a tight rein on their wallets.

Read more:
http://finance.yahoo.com/news/Distressed-NJ-casinos-selling-apf-927501296.html?x=0&.v=1

Disney Hotel Workers Overwhelmingly Vote to Reject Disney’s Latest Contract Proposal

A majority of Disney hotel workers voted to reject Disney's most recent contract proposal that would have made health insurance largely unaffordable for many of the workers employed at the three Disney owned hotels. The final count in yesterday's vote was 1,076 votes to reject Disney's latest contract proposal to 86 votes in favor of the contract proposal. 2,100 Disney hotel workers employed as restaurant servers, dishwashers, housekeepers, front desk agents, and bellmen at the three Disneyland Hotels, Paradise Pier Hotel, Disneyland Hotel, and Grand California Hotel, have been working without a union contract since February 2008. In their latest contract offer Disney proposed to increasingly shift the cost of health insurance to its employees and create a new "casual regular" status for employees who average less than 30 hours a week. "Casual regular" workers would be ineligible for health insurance benefits.

Read more:
http://ehotelier.com/hospitality-news/item.php?id=P16852

European Hotel Valuation Index - 2009

-2008 has proven to be the precursor of a new world order that seems to be emerging from the ongoing financial turmoil.
-The year started with hotel sector performance holding up, it continued with more subdued growth rates and finished with storm clouds gathering apace.
-During the last quarter, the European hotel industry experienced growing signs of weakening trading performance, due to a downsizing in business travel and customer spending. Serious operational cost cutting and deferment of refurbishment plans also started in earnest

Read more:
http://ehotelier.com/downloads/pdf/european_hotel_valuation_index_2009.pdf

Largest hotel chain: 'We can't see any sign of recovery'

LONDON (Reuters) -- InterContinental Hotels, the world's biggest hotelier, said a recovery for the industry might be two years away after reporting first-half profit that fell but beat forecasts.

Read more:
http://money.cnn.com/2009/08/11/news/companies/intercontinental_recovery.reut/index.htm?postversion=2009081106

InterContinental Hotels issues half year trading report

Business headlines

• Global constant currency first half RevPAR decline of 16.2%, with a second quarter decline of 18.6%. IHG’s brands outperformed the industry in each of its three regions.
• 9,849 net rooms (117 hotels) added in the first half, taking system size to 629,700 rooms (4,303 hotels), up 5% year on year.
• 26,956 rooms (229 hotels) added to the system, 17,107 rooms (112 hotels) removed in line with our quality growth strategy.
• 22,754 rooms (159 hotels) signed, taking the pipeline to 226,248 rooms (1,599 hotels).
• On track to exceed 2009 targeted cost reductions with first half reported regional and central costs $51m below 2008 levels.
• Net debt of $1.3bn held broadly flat on the position at 31 December 2008.
• Interim dividend maintained at 12.2¢, equivalent to 7.3p at the closing exchange rate on 7 August 2009.
• Exceptional operating charges of $201m include $162m of non-cash asset impairment charges.

Read more:

http://www.ihgplc.com/index.asp?pageid=57&newsid=2330

Noble Roman's Announces Second Quarter 2009 Earnings

INDIANAPOLIS, Aug. 10 /PRNewswire-FirstCall/ -- Noble Roman's, Inc. (OTC Bulletin Board: NROM), the Indianapolis based franchisor of Noble Roman's Pizza and Tuscano's Italian Style Subs, today announced results for the quarterly period ended June 30, 2009. Net income was $415,234 or $.02 per share basic and diluted, on weighted average number of common shares outstanding of 19.4 million and diluted weighted average shares of 19.9 million. This was a 5.0% increase in net income over the quarterly period ended June 30, 2008 of $395,307, or $.02 per share basic and diluted, on weighted average number of common shares outstanding of 19.2 million, and diluted weighted average shares of 20.3 million. Total revenues for the quarterly period ended June 30, 2009 were $1.9 million compared to total revenues of $2.4 million for the comparable period in 2008.

Read more:
http://news.prnewswire.com/ViewContent.aspx?ACCT=109&STORY=/www/story/08-10-2009/0005075117&EDATE=

McDonald's Reports Global Comparable Sales up 4.3% in July

OAK BROOK, Ill., Aug. 10 /PRNewswire-FirstCall/ -- McDonald's Corporation announced today that global comparable sales rose 4.3% in July and by segment increased as follows:
- U.S. up 2.6%
- Europe up 7.2%
- Asia/Pacific, Middle East and Africa up 2.1%
"We remain aligned behind our customer-focused Plan to Win, which continues to drive positive global comparable sales as we satisfy customers' demands for menu variety, value and convenience," said Chief Executive Officer Jim Skinner.

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http://news.prnewswire.com/ViewContent.aspx?ACCT=109&STORY=/www/story/08-10-2009/0005074581&EDATE=

The Steak n Shake Company Reports Fiscal Third Quarter 2009 Results

INDIANAPOLIS, Aug. 10 /PRNewswire-FirstCall/ --The Steak n Shake Company (NYSE: SNS) announces its results for its third fiscal quarter 2009, which ended July 1, 2009. Net earnings for the third quarter of fiscal year 2009 were $3.8 million, or $0.13 per diluted share, contrasted to a net loss of ($9.8 million), or ($0.35) per diluted share in the third quarter of fiscal year 2008. Last year's third quarter loss included $8.7 million, or $0.31 per diluted share, net of tax impairment charges related to underperforming restaurants.

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http://news.prnewswire.com/ViewContent.aspx?ACCT=109&STORY=/www/story/08-10-2009/0005075207&EDATE=

Caribbean Hotel Profits Hit Hard by Economic Recession

ATLANTA, Aug. 10 /PRNewswire/ -- PKF Hospitality Research (PKF-HR), an affiliate of PKF Consulting, announced today that, according to its newly released 2009 edition of Caribbean Trends(R) in the Hotel Industry, the average Caribbean hotel saw bottom-line profits decline 16.0 percent in 2008. The report concludes that the global economic recession was the primary driver of the double-digit profit decline. Given the poor market conditions observed this year, further profit deterioration is expected in 2009.

Read more:
http://news.prnewswire.com/ViewContent.aspx?ACCT=109&STORY=/www/story/08-10-2009/0005074710&EDATE=