Second Quarter 2009 Financial Highlights
-- Total revenues for the quarter increased 43.3% year-over-year to RMB 642.1 million (US$ 94.0 million).
-- Net income attributable to shareholders for the quarter was RMB 100.4 million (US$ 14.7 million), including gain on buy-back of its own convertible bonds of RMB 46.5 million (US$ 6.8 million), share-based compensation expenses of RMB 6.4 million (US$ 0.9 million), and foreign exchange loss of RMB 0.3 million (US$ 0.04 million). This compares to a net income attributable to shareholders of RMB 7.5 million in the second quarter of 2008, which included share based compensation of RMB 5.4 million (US$ 0.8 million) and foreign exchange loss of RMB 13.7 million (US$ 2.0 million).
-- Income from operations for the quarter was RMB 67.7 million US$ 9.9 million), compared to income from operations of RMB 31.3 million (US$4.6 million) in the same period of 2008. Income from operations excluding share-based compensation expenses (non-GAAP) was RMB 74.1 million (US$ 10.9 million) for the quarter, compared to RMB 36.7 million (US$ 5.4 million) in the same period of 2008, representing an increase of 102% year-over-year.
Read more:
http://english.homeinns.com/phoenix.zhtml?c=203641&p=irol-newsArticle&ID=1317402&highlight=
Thursday, August 6, 2009
AMERISTAR CASINOS REPORTS SECOND QUARTER 2009 RESULTS
Achieved $5.1 Million (6.5%) Second Quarter Year-Over-Year Improvement
in Adjusted EBITDA
Adjusted EBITDA Margin Improvement of 3.1 Percentage Points Over Prior-
Year Second Quarter
Ameristar Casino Black Hawk Gross Gaming Revenues Up 27% in July
Year Over Year Following Regulatory Reform
Successfully Refinanced Half of Outstanding Revolving Credit Facility
Debt; Well Positioned to Address Remaining Balance Before November
2010 Maturity
Read more:
http://www.ameristar.com/OpenFile.aspx?FilePath=Files/Earning_Releases/2009-08-05_Ameristar_Reports_2009_Q2_Results.pdf
in Adjusted EBITDA
Adjusted EBITDA Margin Improvement of 3.1 Percentage Points Over Prior-
Year Second Quarter
Ameristar Casino Black Hawk Gross Gaming Revenues Up 27% in July
Year Over Year Following Regulatory Reform
Successfully Refinanced Half of Outstanding Revolving Credit Facility
Debt; Well Positioned to Address Remaining Balance Before November
2010 Maturity
Read more:
http://www.ameristar.com/OpenFile.aspx?FilePath=Files/Earning_Releases/2009-08-05_Ameristar_Reports_2009_Q2_Results.pdf
SUNSTONE HOTEL INVESTORS REPORTS RESULTS FOR SECOND QUARTER 2009
SAN CLEMENTE, CA –August 5, 2009 – Sunstone Hotel Investors, Inc. (the “Company”) (NYSE: SHO) today announced
results for the second quarter ended June 30, 2009.
Second Quarter 2009 Operational Results:
• Total revenue was $186.8 million.
• Total RevPAR was $101.03.
• Loss attributable to common stockholders was $135.4 million.
• Loss attributable to common stockholders per diluted share was $2.23.
• Adjusted EBITDA was $44.8 million.
• Adjusted FFO available to common stockholders was $13.7 million.
• Adjusted FFO available to common stockholders per diluted share was $0.22.
• Hotel operating margin was 25.7%.
Read more:
http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9MTIyODV8Q2hpbGRJRD0tMXxUeXBlPTM=&t=1
results for the second quarter ended June 30, 2009.
Second Quarter 2009 Operational Results:
• Total revenue was $186.8 million.
• Total RevPAR was $101.03.
• Loss attributable to common stockholders was $135.4 million.
• Loss attributable to common stockholders per diluted share was $2.23.
• Adjusted EBITDA was $44.8 million.
• Adjusted FFO available to common stockholders was $13.7 million.
• Adjusted FFO available to common stockholders per diluted share was $0.22.
• Hotel operating margin was 25.7%.
Read more:
http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9MTIyODV8Q2hpbGRJRD0tMXxUeXBlPTM=&t=1
Red Lion Reports Second Quarter 2009 Results
Red Lion's total revenue during the second quarter of 2009 was $44.9 million, compared to $49.8 million for the prior-year period. Revenue from hotels was $41.0 million, down 12.3% from the second quarter of 2008, due primarily to the weak economic and industry environment.
RevPAR for owned and leased hotels on a comparable basis for the second quarter of 2009 was down 12.6%, due to a 590 basis point decrease in occupancy and a 4.3% decrease in ADR. Despite the lower revenues, hotel direct operating margin for the quarter was 30.1%, an increase of 170 basis points from the prior-year period. System-wide RevPAR (which includes franchised hotels) on a comparable basis for the quarter decreased 12.4%, caused by a 620 basis point decrease in occupancy and a 3.2% decrease in ADR.
Read more:
http://investor.shareholder.com/rlhcorp/?header=redlion
RevPAR for owned and leased hotels on a comparable basis for the second quarter of 2009 was down 12.6%, due to a 590 basis point decrease in occupancy and a 4.3% decrease in ADR. Despite the lower revenues, hotel direct operating margin for the quarter was 30.1%, an increase of 170 basis points from the prior-year period. System-wide RevPAR (which includes franchised hotels) on a comparable basis for the quarter decreased 12.4%, caused by a 620 basis point decrease in occupancy and a 3.2% decrease in ADR.
Read more:
http://investor.shareholder.com/rlhcorp/?header=redlion
Hotel Revenue Management in an Economic Downturn: Results from an International Study
Executive Summary: The sudden reversal in the lodging industry's fortunes from 2008 to 2009 has brought a renewed focus on revenue and profitability for revenue managers. In a survey conducted in 2009, 291 revenue managers cited concerns about customer rate resistance, contract renegotiations, competition, and price wars as their top considerations. This contrasts with a 2008 study, where human resources and technology issues were ahead of economic concerns. Participants in the 2009 Revenue Management Roundtable, produced by the Cornell-Nanyang Institute of Hospitality Management, concurred with the study's findings. In particular, the meeting participants pointed to the difficulty in maintaining pricing positioning, because the drop in demand has shifted considerable pricing power to the customer
Read more:
http://ehotelier.com/hospitality-news/item.php?id=P16829
Read more:
http://ehotelier.com/hospitality-news/item.php?id=P16829
Punch could sell 3,000 pubs by 2012
Douglas Jack, of Numis Securities, says that he believes Punch will eventually sell between 25 and 35% of the entire tenanted estate to focus on better performing pubs.
Jack said: “In all the major pub groups, under-performance is heavily weighted to the bottom 20% of pubs. "We estimate that if Punch were to sell these pubs, average pub profitability would increase 18%, transforming its company’s estate quality and like-for-like trading prospects in a sector that is benefiting from 4% annual supply reduction.”
Read more:
http://www.morningadvertiser.co.uk/news.ma/article/83969
Jack said: “In all the major pub groups, under-performance is heavily weighted to the bottom 20% of pubs. "We estimate that if Punch were to sell these pubs, average pub profitability would increase 18%, transforming its company’s estate quality and like-for-like trading prospects in a sector that is benefiting from 4% annual supply reduction.”
Read more:
http://www.morningadvertiser.co.uk/news.ma/article/83969
Melco Crown Entertainment Reports Second Quarter 2009 Earnings
NEW YORK, Aug. 6, 2009 (GLOBE NEWSWIRE) -- Melco Crown Entertainment Limited (Nasdaq:MPEL), a developer and owner of casino gaming and entertainment resort facilities focused on the Macau market, today reported its unaudited financial results for the second quarter ending June 30, 2009.
For the second quarter of 2009, net revenue was US$215.8 million, down from US$384.6 million for the comparable period ending June 30, 2008. The decrease in net revenue was the result of greater rolling chip volume at Altira Macau in the second quarter of 2008, combined with low rolling chip hold percentages at Altira Macau and City of Dreams in the second quarter of 2009.
Read more:
http://www.melco-pbl.com/eng/ir.php
For the second quarter of 2009, net revenue was US$215.8 million, down from US$384.6 million for the comparable period ending June 30, 2008. The decrease in net revenue was the result of greater rolling chip volume at Altira Macau in the second quarter of 2008, combined with low rolling chip hold percentages at Altira Macau and City of Dreams in the second quarter of 2009.
Read more:
http://www.melco-pbl.com/eng/ir.php
Hotel Bel-Air will be closed nearly 2 years for renovation
The Hotel Bel-Air, a storied Mission-style landmark frequented by Hollywood's elite, will close for nearly two years for a multimillion-dollar face lift that will put hundreds of staffers out of work.The massive renovation, beginning Oct. 1, will include upgrades for all 91 rooms and suites, the hotel's Champagne Bar, its restaurant and private dining rooms. When it is finished in mid-2011, the hotel will boast 12 new villas and a spa with seven treatment rooms.
Read more:
http://www.latimes.com/business/la-fi-belair-hotel5-2009aug05,1,5454522.story
Read more:
http://www.latimes.com/business/la-fi-belair-hotel5-2009aug05,1,5454522.story
Property market turn boosts Punch and Enterprise share prices
Shares in Enterprise Inns and Punch Taverns continued to rise today as the City turned more positive on the outlook for the property and banking sectors.
Enterprise Inns investors have seen the value of the pubco’s stock rise 23 per cent since the beginning of August, trading today at 171.8p, while Punch shares are trading at 120p today, up 17 per cent since the start of the month.
Read more:
http://www.thepublican.com/story.asp?sectioncode=7&storycode=64733&c=1
Enterprise Inns investors have seen the value of the pubco’s stock rise 23 per cent since the beginning of August, trading today at 171.8p, while Punch shares are trading at 120p today, up 17 per cent since the start of the month.
Read more:
http://www.thepublican.com/story.asp?sectioncode=7&storycode=64733&c=1
Taj To Virgin Gorda For Caribbean Debut
August 5, 2009 – New York, New York – The developers of Nail Bay Resort and Mooney Bay Estates recently signed a Memorandum of Understanding (“MOU”) with Taj Hotel Resorts and Palaces to develop the first Taj Exotica Resort, Spa & Luxury Residences in the Caribbean, Central America and South America.“On behalf of the British Virgin Islands Tourist Board, we could not be more pleased to welcome a brand of this caliber to the BVI,” said Myron Walwyn, Chairman of the British Virgin Islands Tourist Board. “This project demonstrates the premium quality as a tourist destination for which the BVI has long been known.”
Read more:
http://www.hotelsmag.com/article/CA6675039.html
Read more:
http://www.hotelsmag.com/article/CA6675039.html
Morton's Restaurant Group, Inc. Reports Results For Second Quarter 2009
-- Revenues decreased 19.8% to $68.7 million.
-- Comparable restaurant revenues for Morton's steakhouses decreased 26.1% for the second quarter of fiscal 2009 ended July 5, 2009.
-- The decrease in revenues is primarily attributable to the decrease in comparable restaurant revenues. A portion of the decrease was offset by an increase in revenues from four new Morton's steakhouses opened during fiscal 2008 and one new Morton's steakhouse opened during the irst quarter of fiscal 2009.
Read more:
http://investor.mortons.com/phoenix.zhtml?c=196267&p=irol-newsArticle&ID=1317322&highlight=
-- Comparable restaurant revenues for Morton's steakhouses decreased 26.1% for the second quarter of fiscal 2009 ended July 5, 2009.
-- The decrease in revenues is primarily attributable to the decrease in comparable restaurant revenues. A portion of the decrease was offset by an increase in revenues from four new Morton's steakhouses opened during fiscal 2008 and one new Morton's steakhouse opened during the irst quarter of fiscal 2009.
Read more:
http://investor.mortons.com/phoenix.zhtml?c=196267&p=irol-newsArticle&ID=1317322&highlight=
Las Vegas Sands, Wynn IPOs seen as sure wins
HONG KONG/LOS ANGELES (Reuters) - With Las Vegas struggling, investors keen to place bets on casino companies will plunk their money down on U.S. casino archrivals Las Vegas Sands (LVS.N) and Wynn Resorts (WYNN.O) IPOs in Hong Kong for a stake in Macau, the world's biggest gambling market.
Read more:
http://www.reuters.com/article/ousiv/idUSTRE5750M320090806
Read more:
http://www.reuters.com/article/ousiv/idUSTRE5750M320090806
Brinker International Reports Increase in Fourth Quarter Fiscal 2009 EPS and Provides Fiscal 2010 Outlook
DALLAS, Aug. 6 /PRNewswire-FirstCall/ -- Brinker International, Inc. (NYSE: EAT) announced fourth quarter fiscal 2009 earnings per diluted share of $0.52 compared to $0.42 for the fourth quarter of fiscal 2008, before special items and excluding Romano's Macaroni Grill (reconciliation included in Table 3). On a GAAP basis, earnings per diluted share increased to $0.41 from a loss per diluted share of $0.02 for the fourth quarter in the prior year. For the full-year fiscal 2009, earnings per diluted share increased to $1.44 from $1.41 in the prior year, before special items and excluding Macaroni Grill (reconciliation included in Table 4). On a GAAP basis, earnings per diluted share increased to $0.77 from $0.49 in the prior year.
Read more:
http://phx.corporate-ir.net/phoenix.zhtml?c=119205&p=irol-newsArticle&ID=1317775&highlight=
Read more:
http://phx.corporate-ir.net/phoenix.zhtml?c=119205&p=irol-newsArticle&ID=1317775&highlight=
Tim Hortons Inc. Announces 2009 Second Quarter Results
Highlights ----------
- Second quarter systemwide sales(3) increased 5.0% on a constant currency basis
- 25 new locations opened in second quarter, 15 in Canada and 10 in the U.S.
- Annual operating income, excluding proposed public company reorganization costs, and same-store sales growth, expected to be in line with previously announced 2009 targets
- The $2.7 million (slightly more than $0.01 per share) in costs associated with the proposed public company reorganization impacted operating income in the quarter
- Solid improvement in U.S. segment results in second quarter
- Board declares quarterly dividend of $0.10 per share
Read more:
http://www.timhortons.com/ca/en/about/news.html?c=195616&p=irol-news&nyo=0
- Second quarter systemwide sales(3) increased 5.0% on a constant currency basis
- 25 new locations opened in second quarter, 15 in Canada and 10 in the U.S.
- Annual operating income, excluding proposed public company reorganization costs, and same-store sales growth, expected to be in line with previously announced 2009 targets
- The $2.7 million (slightly more than $0.01 per share) in costs associated with the proposed public company reorganization impacted operating income in the quarter
- Solid improvement in U.S. segment results in second quarter
- Board declares quarterly dividend of $0.10 per share
Read more:
http://www.timhortons.com/ca/en/about/news.html?c=195616&p=irol-news&nyo=0
Wendy's/Arby's Group, Inc. Reports 2nd Quarter 2009 Results
Second-Quarter and Year-to-Date Highlights
- Wendy's(R) North America systemwide same-store sales were approximately flat (a decrease of 0.4%). Wendy's company-operated restaurant margin improved 370 basis points compared to the second quarter a year ago.
- Arby's(R) North America systemwide same-store sales decreased 6.9% and reflected an improved trend from the first quarter of 2009. Arby's company-operated restaurant margin decreased 100 basis points compared to the second quarter a year ago.
- Consolidated revenues were $913 million in the second quarter and $1.8 billion year-to-date.
- Second quarter 2009 adjusted earnings before interest, taxes, depreciation and amortization ("EBITDA")1, excluding pre-tax integration-related costs of $7.3 million, was $117.2 million, and increased 13.2% as compared to pro-forma 2008 second quarter adjusted EBITDA of $103.5 million.
Read more:
http://ir.wendysarbys.com/phoenix.zhtml?c=67548&p=irol-newsArticle&ID=1317821&highlight=
- Wendy's(R) North America systemwide same-store sales were approximately flat (a decrease of 0.4%). Wendy's company-operated restaurant margin improved 370 basis points compared to the second quarter a year ago.
- Arby's(R) North America systemwide same-store sales decreased 6.9% and reflected an improved trend from the first quarter of 2009. Arby's company-operated restaurant margin decreased 100 basis points compared to the second quarter a year ago.
- Consolidated revenues were $913 million in the second quarter and $1.8 billion year-to-date.
- Second quarter 2009 adjusted earnings before interest, taxes, depreciation and amortization ("EBITDA")1, excluding pre-tax integration-related costs of $7.3 million, was $117.2 million, and increased 13.2% as compared to pro-forma 2008 second quarter adjusted EBITDA of $103.5 million.
Read more:
http://ir.wendysarbys.com/phoenix.zhtml?c=67548&p=irol-newsArticle&ID=1317821&highlight=
MANDARIN ORIENTAL INTERNATIONAL LIMITED
Highlights
• Significant market weakness
• US$78.5 million gain recorded on sale of Macau hotel
• Strong financial position
“It is expected that market conditions will remain poor for the remainder of the year.
Mandarin Oriental is, however, in a strong competitive and financial position and should
benefit over the longer term from the strength of its brand and the limited new supply of luxury
hotels in its key markets.”
Read more:
http://202.66.146.82/listco/sg/mandarin/interim/2009/int.pdf
• Significant market weakness
• US$78.5 million gain recorded on sale of Macau hotel
• Strong financial position
“It is expected that market conditions will remain poor for the remainder of the year.
Mandarin Oriental is, however, in a strong competitive and financial position and should
benefit over the longer term from the strength of its brand and the limited new supply of luxury
hotels in its key markets.”
Read more:
http://202.66.146.82/listco/sg/mandarin/interim/2009/int.pdf
Lodgian Reports 2009 Second Quarter Results
ATLANTA, Aug. 5 /PRNewswire-FirstCall/ -- Lodgian, Inc. (NYSE Alternext US: LGN), one of the nation's largest independent hotel owners and operators, today reported results for the 2009 second quarter ended June 30, 2009.
Second Quarter 2009 Highlights
-- Obtained maturity extensions on $120 million of mortgage debt which matured July 1, 2009, with the terms of the extensions ranging from 90 days to three years.
-- Sold two hotels during the 2009 second quarter for gross proceeds of $13.9 million.
Read more:
http://ir.lodgian.com/phoenix.zhtml?c=112638&p=irol-newsArticle&ID=1317019&highlight=
Second Quarter 2009 Highlights
-- Obtained maturity extensions on $120 million of mortgage debt which matured July 1, 2009, with the terms of the extensions ranging from 90 days to three years.
-- Sold two hotels during the 2009 second quarter for gross proceeds of $13.9 million.
Read more:
http://ir.lodgian.com/phoenix.zhtml?c=112638&p=irol-newsArticle&ID=1317019&highlight=
Ashford Hospitality Trust Reports Second Quarter Results
DALLAS, Aug. 5 /PRNewswire-FirstCall/ -- Ashford Hospitality Trust, Inc. (NYSE: AHT) today reported the following results and performance measures for the second quarter ended June 30, 2009. The proforma performance measurements for Occupancy, Average Daily Rate (ADR), revenue per available room (RevPAR), and Hotel Operating Profit (or Hotel EBITDA) include the Company's 103 hotels owned and included in continuing operations as of June 30, 2009. Unless otherwise stated, all reported results compare the second quarter ended June 30, 2009, with the second quarter ended June 30, 2008, and include the impact of non-cash impairment charges (see discussion below). The reconciliation of non-GAAP financial measures is included in the financial tables accompanying this press release.
Read more:
http://www.snl.com/irweblinkx/file.aspx?IID=4088185&FID=8165989
Read more:
http://www.snl.com/irweblinkx/file.aspx?IID=4088185&FID=8165989
Orient-Express Hotels Reports Second Quarter 2009 Results
Second Quarter 2009 Earnings Summary
- Second quarter total revenues, excluding Real Estate, of $132.0 million
- Same store RevPAR down 24% in local currency, 33% in US dollars
- Adjusted EBITDA before Real Estate of $26.7 million
Read more:
http://phx.corporate-ir.net/phoenix.zhtml?c=122664&p=irol-newsArticle&ID=1317403&highlight=
- Second quarter total revenues, excluding Real Estate, of $132.0 million
- Same store RevPAR down 24% in local currency, 33% in US dollars
- Adjusted EBITDA before Real Estate of $26.7 million
Read more:
http://phx.corporate-ir.net/phoenix.zhtml?c=122664&p=irol-newsArticle&ID=1317403&highlight=
STRATEGIC HOTELS & RESORTS REPORTS SECOND QUARTER 2009 RESULTS
CHICAGO – August 5, 2009 – Strategic Hotels & Resorts (NYSE: BEE) today reported results for the second quarter ended June 30, 2009.
Second Quarter Recap
Comparable funds from operations (Comparable FFO) was a loss of $0.03 per diluted share compared
with income of $0.48 per diluted share in the prior year.
Quarterly Comparable EBITDA was $33.6 million compared with $74.1 million in the prior year
Read more:
http://www.strategichotels.com/documents/BEE_Q2_2009_Earnings_Press_Release.pdf
Supplemental Information
http://www.strategichotels.com/documents/BEE_Q2_2009_Supplemental_Information.pdf
Second Quarter Recap
Comparable funds from operations (Comparable FFO) was a loss of $0.03 per diluted share compared
with income of $0.48 per diluted share in the prior year.
Quarterly Comparable EBITDA was $33.6 million compared with $74.1 million in the prior year
Read more:
http://www.strategichotels.com/documents/BEE_Q2_2009_Earnings_Press_Release.pdf
Supplemental Information
http://www.strategichotels.com/documents/BEE_Q2_2009_Supplemental_Information.pdf
FelCor Reports Second Quarter Results
IRVING, Texas--(BUSINESS WIRE)--Aug. 5, 2009-- FelCor Lodging Trust Incorporated (NYSE: FCH) today reported operating results for the second quarter and six months ended June 30, 2009.
“We continue to make progress on our goals this year: reduce operating expenses; improve market share; develop new sources of revenues within our hotels; and ensure that we have adequate liquidity. These measures are reflected in our second quarter results – portfolio market share increased two percent, operating margins were better than expected, Adjusted FFO met the low-end of our expectations, and we successfully closed a $200 million secured term loan,” said Richard A. Smith, FelCor’s President and Chief Executive Officer.
Read more:
http://phx.corporate-ir.net/phoenix.zhtml?c=118512&p=irol-newsArticle&ID=1317389&highlight=
“We continue to make progress on our goals this year: reduce operating expenses; improve market share; develop new sources of revenues within our hotels; and ensure that we have adequate liquidity. These measures are reflected in our second quarter results – portfolio market share increased two percent, operating margins were better than expected, Adjusted FFO met the low-end of our expectations, and we successfully closed a $200 million secured term loan,” said Richard A. Smith, FelCor’s President and Chief Executive Officer.
Read more:
http://phx.corporate-ir.net/phoenix.zhtml?c=118512&p=irol-newsArticle&ID=1317389&highlight=
Hyatt Hotels Corporation Files Registration Statement for Proposed Initial Public Offering
CHICAGO--(BUSINESS WIRE)--Hyatt Hotels Corporation (“Hyatt”) announced today that it has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (the “SEC”) relating to a proposed initial public offering of shares of its Class A common stock. The number of shares to be offered and the price range for the offering have not yet been determined. The shares of Class A common stock to be sold in this offering are proposed to be sold by Hyatt and/or certain existing stockholders. Hyatt will not receive any of the proceeds from the sale of shares by the selling stockholders.
Read more:
http://www.businesswire.com/portal/site/home/permalink/?ndmViewId=news_view&newsId=20090805006408&newsLang=en
Read more:
http://www.businesswire.com/portal/site/home/permalink/?ndmViewId=news_view&newsId=20090805006408&newsLang=en
Morgans Hotel Group Secures Amendment to Its Existing Line of Credit
NEW YORK--(BUSINESS WIRE)--Morgans Hotel Group Co. (NASDAQ:MHGC) announced today that it has successfully completed an amendment to its existing line of credit.
“The amendment provides us with significant liquidity and flexibility to accommodate our business needs through these challenging times,” said Marc Gordon, Chief Investment Officer of Morgans Hotel Group. “We are proud of the expression of confidence from our lender group. We appreciate their support and thank them for working with us.”
Read more:
http://www.businesswire.com/portal/site/home/permalink/?ndmViewId=news_view&newsId=20090805006417&newsLang=en
“The amendment provides us with significant liquidity and flexibility to accommodate our business needs through these challenging times,” said Marc Gordon, Chief Investment Officer of Morgans Hotel Group. “We are proud of the expression of confidence from our lender group. We appreciate their support and thank them for working with us.”
Read more:
http://www.businesswire.com/portal/site/home/permalink/?ndmViewId=news_view&newsId=20090805006417&newsLang=en
Falfurrias Capital Partners Secures Refinancing of Bojangles’ Debt
CHARLOTTE, N.C.--(BUSINESS WIRE)--Falfurrias Capital Partners, a Charlotte-based private equity firm, today announced it has secured a $70 million refinancing for Bojangles’ Restaurants Inc., allowing the restaurant group to substantially reduce its debt and lower its interest costs.
A bank group led by Bank of America and Wells Fargo and including BB&T and Regions Bank provided the senior-term loan and credit facility for the refinancing.
Read more:
http://www.businesswire.com/portal/site/home/permalink/?ndmViewId=news_view&newsId=20090805005872&newsLang=en
A bank group led by Bank of America and Wells Fargo and including BB&T and Regions Bank provided the senior-term loan and credit facility for the refinancing.
Read more:
http://www.businesswire.com/portal/site/home/permalink/?ndmViewId=news_view&newsId=20090805005872&newsLang=en
McCormick & Schmick's Seafood Restaurants, Inc. Reports Second Quarter 2009 Financial Results
Revenues for the second quarter of 2009 decreased 7.0% to $92.7 million from $99.7 million in the second quarter of 2008. The decrease in revenues is primarily attributable to the decline in comparable restaurant sales, partially offset by revenue from new restaurants not in the comparable restaurant base. The decrease in comparable restaurant sales of 17.3% was a result of a 16.7% decrease in traffic, which was coupled with a decrease in net pricing of 0.6%.
Read more:
http://phx.corporate-ir.net/phoenix.zhtml?c=179739&p=irol-newsArticle&ID=1317324&highlight=
Read more:
http://phx.corporate-ir.net/phoenix.zhtml?c=179739&p=irol-newsArticle&ID=1317324&highlight=
California Pizza Kitchen Signs Franchise Deal to Expand into India
LOS ANGELES--(BUSINESS WIRE)--California Pizza Kitchen, Inc. (CPK) (Nasdaq:CPKI) announced an agreement today with new franchise partners JSM Corporation Pvt. Ltd. (JSM) and Daud Arabian Trading to expand into India. As part of the agreement, a minimum of fifteen new California Pizza Kitchen full-service restaurants are expected to open in India over the next ten years with the first restaurant scheduled to open in the summer of 2010.
Read more:
http://www.businesswire.com/portal/site/home/permalink/?ndmViewId=news_view&newsId=20090805006502&newsLang=en
Read more:
http://www.businesswire.com/portal/site/home/permalink/?ndmViewId=news_view&newsId=20090805006502&newsLang=en
O'Charley's Inc. Reports Results for the Second Quarter of 2009
NASHVILLE, Tenn., Aug 06, 2009 (BUSINESS WIRE) -- O'Charley's Inc. (Nasdaq: CHUX), a leading casual-dining restaurant company, today reported revenues and earnings per share for the 12-week period ended July 12, 2009.
Revenue for the second quarter of fiscal 2009 decreased $14.9 million or 6.7 percent to $206.2 million, from $221.1 million in the second quarter of fiscal 2008. Same-store sales for the second quarter of 2009 declined 6.9 percent at O'Charley's company-operated restaurants, 10.0 percent at Ninety Nine Restaurants, and 20.4 percent at Stoney River Legendary Steaks.
Read more:
http://phx.corporate-ir.net/phoenix.zhtml?c=82565&p=irol-newsArticle&ID=1317738&highlight=
Revenue for the second quarter of fiscal 2009 decreased $14.9 million or 6.7 percent to $206.2 million, from $221.1 million in the second quarter of fiscal 2008. Same-store sales for the second quarter of 2009 declined 6.9 percent at O'Charley's company-operated restaurants, 10.0 percent at Ninety Nine Restaurants, and 20.4 percent at Stoney River Legendary Steaks.
Read more:
http://phx.corporate-ir.net/phoenix.zhtml?c=82565&p=irol-newsArticle&ID=1317738&highlight=
