Restaurant Stock Performance - 7/31/2009

For the year, our list of 55 Restaurant stocks have increased in value by an average of 67%. The top 10 have increased in value by 219%.

From their 12 month lows these stocks have increased by 462% and even so they are still 20% under their 12 month highs.

You can see the whole list at this link
http://app4.websitetonight.com/projects/1/0/5/0/1050254/uploads/Restaurant_Performance_7-31-2009.xls

Ruth's Hospitality Group, Inc. Reports Second Quarter 2009 Financial Results

HEATHROW, Fla., Jul 31, 2009 (BUSINESS WIRE) -- Ruth's Hospitality Group, Inc. (NASDAQ: RUTH) today reported unaudited results for its second quarter ended June 28, 2009.
Highlights for the second quarter 2009 compared to the second quarter 2008 were as follows:
Total revenue decreased 17.9% to $88.4 million compared to $107.6 million in the second quarter of 2008.
Net income decreased 15.6% to $2.3 million, or $0.10 per diluted share compared to $2.8 million or $0.12 per diluted share in the second quarter of 2008. There were charges of $0.7 million in the second quarter of 2009 and $0.2 million in the second quarter of 2008, respectively, which resulted in adjusted earnings of $0.13 per diluted share in both periods.

Read more:
http://phx.corporate-ir.net/phoenix.zhtml?c=190038&p=irol-newsArticle&ID=1314885&highlight=

Starwood Capital Completed Golden Tulip Acquisition

London, Paris, Rotterdam, July 31, 2009 - Starwood Capital, through an affiliate, announces today that it has completed the acquisition of Golden Tulip Hospitality BV’s Franchise business, its Development & Representation businesses, Joint Venture interests, and the brands, trademarks and intellectual property of Golden Tulip, Tulip Inn and its related brands.

Excess Takes Its Toll On Hotel Values

Worldwide—The average hotel in the United States was valued at US$100,000 per key in 2006. By next year, that value will have sunk to US$50,000 per room, according to a forecast by HVS International. To make matters worse for sellers, for the next 18 months, any transaction will most likely be done at a liquidation value because no one who does not have to sell will sell at these fire-sale prices. As a result, HVS Chairman Steve Rushmore suggests that the typical US$100,000 per key hotel in 2006 could very well sell at US$25,000 per key in the months ahead.

Read more:
http://www.hotelsmag.com/article/ca6673762.html

MGM Mirage to Cut Vegas Condo Prices to Close Sales

July 31 (Bloomberg) -- MGM Mirage, building the largest development on the Las Vegas Strip, plans to cut the price of condominiums it already sold to appease buyers after housing values collapsed, Chief Executive Officer Jim Murren said.
The casino operator, founded by Kirk Kerkorian, is reappraising the condos and talking to banks to help buyers arrange financing so they can complete purchases at the CityCenter site, Murren said yesterday in an interview. Details will be announced early in the U.S. fall season, he said.

Read more:
http://www.bloomberg.com/apps/news?pid=20601205&sid=aP3Jrn9yjYgA

MGM Mirage Overhauling Macau Casino to Boost Share

July 31 (Bloomberg) -- MGM Mirage, with the smallest casino market share in Macau, said it’s overhauling operations and marketing at its venture in the city to boost revenue after an “underwhelming” start.
“Our Macau market share is half what it should be,” Jim Murren, chairman and chief executive officer, said yesterday in an interview in Las Vegas, where the company is based. “The other U.S.-based and other newer casinos have been more aggressive in marketing, more aggressive” in recruiting and junket relationships, he said.

Read More:
http://www.bloomberg.com/apps/news?pid=20601206&sid=a6tLJky4VpWI