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Eleven restaurants in St Kitts get approval for stimulus package

BASSETERRE, St Kitts (CUOPM) -- Just about a dozen restaurants in St Kitts have been benefitting from the stimulus package for “Full Service Stand Alone Restaurants.”
Circus Grill Restaurant (Photo by Erasmus Williams) “Thus far 11 applications have been approved for the stimulus package. These are Ballahoo, Bobsy’s Bar & Grill, Circus Grill, King’s Palace, La Belle Vie, Marshall’s, PJ’s, Reggae Beach Bar & Grill, Rock Lobster, Serendipity and Spice Mill,” a statement from the St Kitts Investment Promotion Service (SKIPA) said Friday.

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http://www.caribbeannetnews.com/business/business.php?news_id=17879&start=0&category_id=14

Global hotel transactions rebound

Worldwide hotel transaction activity is showing green shoots of recovery, according to new figures released by of Jones Lang LaSalle Hotels. Following five consecutive quarters of sharp contraction, the second quarter of 2009 registered a 3 percent increase in activity.
Global hotel transactions during the first half of 2009 totalled $3.7 billion, representing a 78 percent downturn compared with the first half of 2008, according to the new report.

Read more;
http://www.breakingtravelnews.com/news/article/global-hotel-transactions-rebound/

Hotel prices crash across Britain

It’s getting desperate in hotel land. Across the country hoteliers are facing up to the facts: rooms are empty, occupancy rates have plummeted and business in general is terribly slow.
All the talk of “staycations” may be holding true for self-catering apartments and camping sites, but not for hotels — even upmarket ones.

Read more:
http://www.timesonline.co.uk/tol/travel/where_to_stay/article6724944.ece

Irish Hotels 'being run by banks'

CREDIT CRUNCH: BANKS ARE effectively managing 30 hotels, in order to keep capital allowances alive and minimise losses, it has been claimed.
John Brennan, owner of The Park Hotel Kenmare, said banks are propping up hotels by hiring management teams to sell five-star rooms at two-star rates.

Read more:
http://www.irishtimes.com/newspaper/travel/2009/0725/1224251292099.html

Club Med Strengthens Giscard’s Position With Board Appointments

July 24 (Bloomberg) -- Club Mediterranee SA bolstered the position of the resort company’s top executive, Henri Giscard d’Estaing, by naming representatives of shareholders supportive of his strategy to the board.
Club Med said late yesterday that it appointed nominees of Caisse des Depots et de Gestion du Maroc, the Benetton family and lender Credit Agricole to the board. The shareholders have all given their backing to Giscard, who has been accused by French investor Bernard Tapie of squandering shareholders’ money. Club Med is suing Tapie, who bought 1 percent of the company’s shares last month, for spreading false information.

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http://www.bloomberg.com/apps/news?pid=20601205&sid=a3.h7qZcX204

The Outlook For Hotel Investments

As we now live through the current economic recession and its impact on lodging revenues and expenses, it has become evident that investors anticipate continued declines in operating incomes and resulting loss in property values through the remainder of 2009 and into 2010. That being said, investors also expect the industry to rebound in 2011, and today's distressed environment will provide exceptional investment opportunities to those buyers with the ability to take advantage.
To gain a better understanding of today's lodging investment environment, let us review the results of the 2009 edition of PKF Consulting's Hospitality Investment Survey.

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http://www.hotelresource.com/article40141.html

STR reports US performance for June 2009

HENDERSONVILLE, Tennessee—The U.S. hotel industry posted declines in all three key performance measurements during June, according to data from STR.
In year-over-year measurements, the industry’s occupancy fell 9.7 percent to end the month at 61.3 percent. Average daily rate dropped 9.9 percent to finish the month at US$96.77. Revenue per available room for the month decreased 18.6 percent to finish at US$59.34.
Through the first six months of 2009, the industry experienced decreases in all three key metrics in year-over-year comparisons. Occupancy fell 10.9 percent to 54.6 percent, ADR decreased 8.7 percent to US$98.66, and RevPAR fell 18.7 percent to US$53.87.

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http://www.hotelnewsnow.com/Articles.aspx?ArticleId=1577&ArticleType=38&PageType=STRPressRelease

Canadian doughnut chain enters NYC doughnut wars

For a sip of hot chocolate and his preferred pastry fix, the 32-year-old Manhattan lawyer has driven 100 miles (160 kilometers) to Meriden, Connecticut, to what was then the closest Tim Hortons, a beloved Canadian chain that sells coffee and baked goods.
Abella, a Toronto native, now has an easier time satisfying his cravings. Earlier this month, Tim Hortons opened its first New York City locations, replacing 11 Dunkin' Donuts in Manhattan and Brooklyn.

Read more:
http://finance.yahoo.com/news/Canadian-doughnut-chain-apf-3983613882.html?x=0&.v=4