Rooms Are Going For £1 at the Hoxton Hotel Again

It’s back again: the trendsters Hoxton Hotel are throwing another one of their famous £1 sales (yes, really, a room for just £1, all in).
The sale starts tomorrow at 12pm UK time (i.e. 7:00 a.m. EDT). There are 1000 bedrooms going cheap, for stays between August 1st and October 31st, 2009. 500 of them are going for £1, and 500 for £29.
You’ll have to get to it quickly, though. Last time, all rooms went within 11 minutes and we weren't quick enough to snag one for ourselves. If you’re unlucky, the best deal you’ll get is a weekend rate in July for £96.89. Better start working them fingers, no?
(from www.hotelchatter.com)

Hotel operators' shares stumble after analyst downgrade

NEW YORK, July 1 (Reuters) - The stock of three major hotel operators stumbled on Wednesday after a Barclays Capital hotel analyst downgraded the companies, saying they were vulnerable to continued weakness in the industry over the next year.
Starwood Hotels & Resorts (HOT.N), Marriott International (MAR.N) and Choice Hotels International, Inc (CHH.N) all dropped more than 3 percent in early trading on the New York Stock Exchange. An index of hotel stocks .DJUSLG fell more than 3 percent.

Read more:
http://www.reuters.com/article/marketsNews/idINN0149973620090701?rpc=44

Hotel projects back on track as liquidity eases

Work on some hotel projects that have been put on hold is likely to resume as liquidity improves in the third and fourth quarters of this year, according to a senior real estate research analyst.
A number of projects in Dubai and elsewhere in the region were postponed when the global crisis reduced the supply of funding to developers. But there could be an infusion of new lending in the second half of 2009, Jalil Mekouar, Executive Vice-President and Head of the Middle East and Africa at Jones Lang LaSalle Hotels, told Emirates Business.
"Investors are more inclined to wait until the summer is over before showing any strong interest," he said. "More positive investment sentiment might appear after the summer and the Holy month of Ramadan."

Read more:
http://ehotelier.com/hospitality-news/item.php?id=P16568

OrderCatcher Featured in Pizza Market Place

CORAL GABLES, Fla. -- OrderCatcher, a provider of voice recognition software, has unveiled "Pizza To Go," a voice recognition application for the automation of pizza order-taking and delivery management.

In a recent test with a national pizza chain, Pizza To Go took 40 percent of the restaurant's orders without any promotion or advertising. With promotion, the application can handle 90 percent of a restaurant's telephone orders, in English or Spanish, without human intervention, OrderCatcher officials said.

Pizza To Go is completely customizable, allowing for the addition of daily specials as well as multi-menu item choices for the customer.

Read more:

http://www.ordercatcherinc.com/

The mobile restaurant

Before he began using his iPhone to find restaurants, Ian Seffering’s strategy when dining out was much more hit-or-miss. If he hadn't scoped out an area beforehand, Seffering would tend to just walk into any nearby restaurant that looked appealing.

"This led to lots of bad experiences (taste, service, atmosphere, etc.) that I can now avoid by pre-screening restaurants with reviews," Seffering said.

As the co-founder of AppStoreHQ, Seffering said using mobile phone applications such as Urbanspoon has changed the way he finds restaurants.

Read more:
http://www.pizzamarketplace.com/article.php?id=15045

Our Lucaya Resort, Bahamas, Affiliates With Radisson

GRAND BAHAMA ISLAND Radisson Hotels & Resorts today announced the addition of the Radisson Our Lucaya Resort, Grand Bahama Island, a 740-room landmark resort located in the heart of Grand Bahama Island. The AAA four-diamond oceanfront resort was converted to the Radisson brand, establishing Radisson's presence in the Bahamas and strengthening the brand's impressive resort portfolio in the Caribbean. Radisson currently operates two world-class resort properties in Aruba and St Martin.

Read more:
http://www.hotelsmag.com/article/ca6668474.html

Famous Dave’s Announces Payoff of Debt and Lease Terminations, and Updates Restaurant Opening Guidance

MINNEAPOLIS--(BUSINESS WIRE)--Famous Dave's of America, Inc. (NASDAQ: DAVE) today announced that it recently completed the early retirement of approximately $4.2 million of long-term debt at interest rates ranging from 8.83 percent to 10.53 percent, originally due between February 2020 and June 2022. The company incurred an early termination fee of $350,000 or $0.03 per diluted share as a result of this debt repayment. The company expects to pay down an additional $2.6 million of long-term fixed rate debt, with no early termination fee, with interest rates ranging from 8.10 percent to 8.75 percent, by fiscal year end. The total pay down of long-term debt in fiscal 2009 should result in approximately $600,000 of interest savings for fiscal 2010. As of the end of the second quarter, the company’s line of credit balance was $14.5 million.

Read more:
http://www.businesswire.com/portal/site/home/permalink/?ndmViewId=news_view&newsId=20090701005520&newsLang=en

Accor is Studying a Voluntary Separation Plan to Adjust its Headquarters Staff

To strengthen its action plan, which calls for a 15% reduction in support costs, Accor is considering a voluntary separation plan in France intended to adjust its headquarters staff.
Based entirely on voluntary departures, the two-part plan would concern around 230 positions in France at Group head offices and Hotellerie France head offices, which currently have a combined total of approximately 2,300 employees.

(Is it just me or does 2300 employees seem like alot?)

Read more:
http://www.hotelresource.com/article39693.html

Restaurant operators warned against discounting

Restaurant operators have warned against the dangers of using two-for-one deals to stimulate the market and predicted that overuse of the practice could be damaging for the industry as a whole

Read more:
http://www.bighospitality.co.uk/item/3609

London Town reports £24.7m loss

London Town, which operates 176 of its own pubs and manages 124 pubs — including 61 for other pub operators — and has 14 for sale, said adjusted Earnings, Before Interest, Depreciation and Amoritisation was £1.5m for the year to 28 December 2008 compared to £3.1m in 2007 and the loss for the year expanded to £24.7m from a loss of £11.6m. Sales increased from £11.4m to £25.9m.

Read more:
http://www.morningadvertiser.co.uk/news.ma/article/83590

Scottish & Newcastle Pub Enterprises places 20 pubs on the market

Scottish & Newcastle Pub Enterprises has placed 20 freehold pubs on the market through property agent Fleurets.
The pubs, located across the UK, include nine with a food business and six with letting rooms.
The sites are directly owned by the pub company and their sale is part of the company’s bid to concentrate on pub management rather than ownership

Read more:
http://www.caterersearch.com/Articles/2009/06/30/328429/scottish-newcastle-pub-enterprises-places-20-pubs-on-the.html

Choice Hotels CEO Sees Signs of Stabilization

With more consumers ditching extravagant vacations and taking to the road on good, old-fashioned road trips, Choice Hotels International is finding itself in a good spot.

"It seems like it has stabilized," CEO Steve Joyce says. "We are sort of in the position now where we are waiting to see if things will improve."

Read more:
http://www.cnbc.com/id/31666885/site/14081545?__source=yahoo%7Cheadline%7Cquote%7Ctext%7C&par=yahoo

World's Largest Hotel Companies

The new rankings are here from Hotels Magazine.

Read more:
http://www.hotelsmag.com/article/ca6663146.html

Goldman raises Yum Brands to buy

July 1 (Reuters) - Goldman Sachs upgraded Yum Brands Inc (YUM.N) to "buy" from "neutral" and said it had a more positive view on the prospects for profit growth at the company's international businesses.
Goldman analysts, including Steven Kron and Joseph Fischer, also said they were more positive on the parent of the Taco Bell, Pizza Hut and KFC chains' improving U.S. business and overall corporate margins.

Read more:
http://www.reuters.com/article/marketsNews/idESBNG2086420090701?rpc=44

Alcohol, Then Tobacco. Now Fast Food?

New York City Councilman Eric Gioia is drafting a bill that would forbid fast-food chains from opening new restaurants within one-tenth of a mile of city schools. Gioia cites a recent study's finding that when schools in California are that close to hamburgers and french fries, the student obesity rate is likely to be 5.2% higher. "Of course there's a degree of personal responsibility here," says Gioia. "But municipalities across the country need to be making it easier to be a good parent and raise healthier kids."

Read more:
http://www.businessweek.com/bwdaily/dnflash/content/jun2009/db20090630_606062.htm?campaign_id=yhoo

Nearly 70% UK hotel operators are financially shaky, warns analyst

More than two thirds of the UK’s hotel operators are in financial danger, analyst firm Plimsoll Publishing has warned.
Plimsoll rated each of the UK’s largest 1,000 hotels companies into one of five ratings based on their overall financial performance: strong, good, mediocre, caution and danger.

Read more:
http://www.caterersearch.com/Articles/2009/07/01/328479/nearly-70-uk-hotel-operators-are-financially-shaky-warns.html

McDonald’s Angus Burger Adds Higher-Priced Option to U.S. Menus

July 1 (Bloomberg) -- McDonald’s Corp. will introduce the first new line of hamburgers since 2001 across the U.S. starting tomorrow to broaden its menu beyond the value meals and $1 fries that have attracted customers in the recession.
The three new Angus burgers are one-third of a pound each and priced at about $4, Dan Coudreaut, executive chef for the Oak Brook, Illinois-based company, said in a telephone interview. The burgers will be available nationwide for several months, said Marta Fearon, director of marketing.

Read more:
http://www.bloomberg.com/apps/news?pid=20601205&sid=aLK5Z1ur0kYc

Moscow Police Raid Casinos at Midnight as Putin Exiles Gamblers

July 1 (Bloomberg) -- Moscow police raided casinos at the stroke of midnight to enforce a nationwide ban on gambling that Prime Minister Vladimir Putin engineered to protect the savings of young people and pensioners.
Hundreds of police and city officials descended on casinos and slot-machine halls late yesterday with camera crews in tow to ensure that all betting had ceased and all signs above the city’s 500 parlors and 30 casinos had been taken down.

Read more:
http://www.bloomberg.com/apps/news?pid=20601205&sid=adACI76DSTA4

Hotel Loan Defaults Double in U.S. as Recession Curbs Travel

July 1 (Bloomberg) -- As many as one in five U.S. hotel loans may default through 2010 as the recession means companies are spending less on travel and perks, according to University of California economist Kenneth Rosen.
The value of hotel properties in default or foreclosure almost doubled to $17.3 billion in the second quarter through June 24 from $9 billion at the end of the first quarter, data compiled by Real Capital Analytics Inc. show

Read more:
http://www.bloomberg.com/apps/news?pid=20601206&sid=acgd9We.1TEY

Wendy's Can Learn a Few Lessons from Yum Brands

In looking at the June 29, 2009, Barron’s “puff-piece” article on Wendy/Arby’s Group (WEN) and its upward price movement Monday, I was reminded that one of the company's projected growth platforms, other than increasing number of US stores, improving margins at Wendy’s and improving R&D (Wendy’s breakfast was pulled until 2010) was international growth, via franchising and multi-brand development.

Read more:
http://seekingalpha.com/article/146381-wendy-s-can-learn-a-few-lessons-from-yum-brands?source=feed

Cracker Barrel Old Country Store, Inc. Announces Completion of Sale-Leaseback Transactions

LEBANON, Tenn.--(BUSINESS WIRE)--Cracker Barrel Old Country Store, Inc. (“Cracker Barrel,” or the “Company”) (Nasdaq: CBRL) today announced the closing of the sale-leaseback of its retail distribution center and fourteen of its store locations, with a fifteenth expected to close on or before July 31st. The transactions are expected to produce aggregate gross proceeds of approximately $57.6 million, consisting of $12.4 million relating to the distribution center and slightly more than three million dollars for each of the 15 store locations. The sale-leaseback transactions were the result of a competitive bidding process.

Read more:
http://www.businesswire.com/portal/site/home/permalink/?ndmViewId=news_view&newsId=20090701005143&newsLang=en

Extended Stay wins U.S. court OK to use $86 mln

NEW YORK, June 29 (Reuters) - Bankrupt hotel chain Extended Stay ESAIN.UL was granted interim access on Monday to its cash for a second time so it can make mortgage payments and pay the company managing its hotels.
Judge James Peck of U.S. Bankruptcy Court in Manhattan said Extended Stay could to tap into $86 million of its cash, against which creditors have a claim, until a final hearing on the use of cash set for July 17

Read more:
http://www.reuters.com/article/bondsNews/idUSN2943084220090629

Hotel CEOs: Softness Holds, Rebound Later

Chief executives from such major multibrand hotel companies as Accor, Choice and Starwood this month said corporate hotel rates recently negotiated downward are unlikely to increase anytime soon, and that they expect travel program cost-saving measures to remain long after the economy recovers, but they also expressed confidence that group and transient business travel ultimately would bounce back.

Read more:
http://www.hdmag.com/hospitalitydesign/content_display/industry-news/e3icd94eec702f4d695f85a9f71d297175f

Wyndham Worldwide Completes Renewal of South Pacific Lending Facility

PARSIPPANY, N.J. 06-30-2009 —
Wyndham Worldwide (NYSE:WYN) today announced that it closed on the renewal of the secured, revolving foreign credit facility for its South Pacific vacation ownership business. The 364–day facility bears interest based on a variable rate plus a spread and has capacity of approximately AUD 193 million.

Nathan's Famous annouces share repurchase

WESTBURY, NY (AP) -- Nathan's Famous Inc. on Tuesday said that it will buy back up to 500,000 shares of its common stock.
The hot dog company also said that it has reached an agreement under which it acquired 238,129 shares authorized to be purchased under the plan.
Nathan's said it will make further purchases as deemed appropriate by management.
Shares of the Westbury, NY-based company rose 47 cents to close at $13.31 Tuesday

Innovative financing for new hotel

Despite his impressive portfolio of successful hotels along the Gulf Coast, including the Hilton on Pensacola Beach, MacQueen was turned down by more than 50 banks, including every one in Pensacola.
But MacQueen didn't get mad — well, maybe a little — he got creative. He began thinking in unconventional terms, and it paid off, to the tune of $38 million.

Read more:
http://www.pnj.com/article/20090628/BUSINESS/906280309/Carlton-Proctor--Innovative-financing-for-new-hotel

Pubs ‘n’ Bars breaches banking covenants as it slides into the red

Pubs ‘n’ Bars made a loss of nearly £9m last year and breached it banking covenants as a fall in the property market led to the re-evaluation of the value of its pubs.
In the year ended 31 December 2008, the company made a loss of £8.9m compared with restated profit of £341,960 in 2007. This was despite turnover increasing 11% to £22.3m (2008: £20m).

Read more:
http://www.caterersearch.com/Articles/2009/06/30/328425/pubs-n-bars-breaches-banking-covenants-as-it-slides-into-the.html

Canadian coffee giant set to open in Big Apple

After a 25-year battle to make inroads in the biggest fast-food market in the world, Tim Hortons Inc. is set to open up a new U. S. front in August when it takes its double-doubles into the heart of New York City's coffee wars.
The iconic Canadian coffee-and-doughnut chain plans to have three stores up and running in the Big Apple, including a location in Times Square -- its first foray into Manhattan -- the Financial Post has learned.

Read more:
http://www.financialpost.com/story.html?id=1745219

M&B considers Punch deal

Embattled pubs group Mitchells & Butlers today confirmed talks to buy the managed pub business from its rival and former takeover suitor Punch Taverns.
Mitchells will consider selling a minority stake in its business in order to fund the deal, after receiving a number of approaches from buyout firms.
But the troubled All Bar One and O'Neill's pubs operator reportedly faces opposition from key shareholders over the plans.

Read more:
http://www.independent.co.uk/news/business/news/mampb-considers-punch-deal-808753.html

Dunkin’ Donuts pulls drinks in salmonella concern

Dunkin' Donuts has temporarily stopped selling hot chocolate and Dunkaccino brand beverages after learning equipment used at a supplier's facility might have been contaminated with salmonella.
The Canton, Mass.-based company said Tuesday none of its products was contaminated and the withdrawal of the beverages from its stores was a precaution to ensure customer safety. It has about 6,400 franchised restaurants in the United States and says it serves 3 million customers a day.

Read more:
http://www.lasvegassun.com/news/2009/jun/30/dunkin-donuts-pulls-drinks-in-salmonella-concern/

IHG announces regional restructuring and cost saving programme

June 30, 2009: InterContinental Hotels Group PLC ("IHG") [LON: IHG; NYSE: IHG (ADRs)] announces a significant cost saving programme including the restructuring of IHG's Asia Pacific region.

Read more:
http://www.ihgplc.com/index.asp?PageID=116&Year=2009&NewsID=2307

Receiver Believes Balance of WexTrust Capital Portfolio Will Be Sold Through Competitive Bidding Process

NORTHBROOK, Ill.--(BUSINESS WIRE)--The court-appointed receiver for Chicago-based WexTrust Capital LLC, Timothy J. Coleman, announced today that he was filing for court approval to relinquish all interests in the Park View Hotel, located at 1816 North Clark Street.
According to WexTrust’s Chief Restructuring Officer, Mitchell Kahn, Principal of Badger Real Estate Advisors, “This is the last significant asset we believe needs to be relinquished.”
Mr. Kahn, along with Hilco Real Estate, LLC, were engaged by Mr. Coleman in February, 2009, to sell the real estate assets of WexTrust Capital. The company was charged by the Securities and Exchange Commission with having defrauded roughly 1,200 investors of an estimated $225 million in a Ponzi scheme.

Read more:
http://www.businesswire.com/portal/site/home/permalink/?ndmViewId=news_view&newsId=20090630006385&newsLang=en