ASPEN, Colorado — An unpaid loan balance of $36.3 million has put the historic Hotel Jerome on the auction block. The 92-bedroom Main Street hotel, built in 1889, is scheduled go to a foreclosure auction sale on Jan. 27, Deputy Treasurer Desiree Wagner said Monday.
Read more:
Wednesday, September 30, 2009
McDonald's Aims To Open 1,100 McCafés Across Europe
McDonald's (MCD) plans to open around 1,100 of McCafés across Europe. The existing cafés are located inside restaurants but with a separate counter. Next year, the company plans to open more, with an eye toward becoming numero uno coffee seller in Europe, BusinessWeek reported, citing Jerome Tafani, chief financial officer of McDonald's Europe.
Read more:
Read more:
Reno casino hits geothermal jackpot underground
RENO, Nev.—A Reno casino has hit the jackpot: An underground geothermal water source just north of one of its new 17-story hotel tower that will generate enough heat and hot water for all 2.1 million square feet of the resort's space.
The Peppermill Resort Spa casino recently gambled on an $8 million project to drill a deep hole on their property in search of the hot water, which hovers around 170 degrees.
Read more:
The Peppermill Resort Spa casino recently gambled on an $8 million project to drill a deep hole on their property in search of the hot water, which hovers around 170 degrees.
Read more:
(B.V.I.) Judge says no to golf course
Justice Indra Hariprashad-Charles quashed the Beef Island Planning Approval Letter in High Court on Monday, scoring a win for the Virgin Islands Environmental Council, which has fought to keep Quorum Island developers from building a high-end resort, mega-yacht marina and golf course on the island. In her ruling, Justice Hariprashad-Charles sided with the VIEC, ruling that the government had acted illegally by granting planning permission for development near Hans Creek, a fisheries protected area.
Read more:
Read more:
Wyndham May Acquire Hotel Brands, Competitors’ Operations
Sept. 30 (Bloomberg) -- Wyndham Worldwide Corp., the franchiser of Days Inn hotels and Super 8 motels, plans to buy more brands or acquire the operations of struggling competitors, Chairman and Chief Executive Officer Stephen Holmes said.
“There’s quite a bit of distressed real estate,” said Holmes, 52, in a Sept. 28 interview at Wyndham’s Parsippany, New Jersey, headquarters. “It’s an opportunity to add new brands or convert underperforming hotels” to a Wyndham brand.
Read more:
“There’s quite a bit of distressed real estate,” said Holmes, 52, in a Sept. 28 interview at Wyndham’s Parsippany, New Jersey, headquarters. “It’s an opportunity to add new brands or convert underperforming hotels” to a Wyndham brand.
Read more:
Station Casinos opposes creditors’ request to probe 2007 deal
On the eve of a hearing in Reno in its bankruptcy case, a dispute emerged Tuesday on whether creditors can extensively investigate the 2007 deal that took Station Casinos Inc. of Las Vegas private.
The case's Official Committee of Unsecured Creditors said in a court filing that it intends to press its request Wednesday that it be allowed to hire law firm Quinn Emanuel Urquhart Oliver & Hedges LLP to fully investigate the deal.
Read more:
The case's Official Committee of Unsecured Creditors said in a court filing that it intends to press its request Wednesday that it be allowed to hire law firm Quinn Emanuel Urquhart Oliver & Hedges LLP to fully investigate the deal.
Read more:
Falling earnings could force more landlords to close pubs
"Moody's is concerned over the medium-term cash-flow generation ability of the two biggest pubcos, Enterprise Inns and Punch Taverns, relative to their outstanding debt levels in light of the challenging trading environment," the agency said. The companies' credit positions are also likely to worsen because it will be difficult to pay back debt at the same pace that earnings are falling, Moody's said.
Read more:
Read more:
Capital Bars work on rescue plan
The O'Dwyer brothers, the directors behind Capital Bars, one of the capital’s biggest hotel/pub operators, are seeking to place four of their venues in temporary examinership in order to keep them afloat, namely the companies behind Café en Seine, Zanzibar, Howl at the Moon and The George.
Read more:
Read more:
Sonesta Beach Hotel Sold, To Be Razed
MIAMI-Consultatio S.A., an Argentine development group, has acquired Key Biscayne’s Sonesta Beach Hotel property for $78 million, a deep discount from its 2005 value of $120 million. Consultatio and affiliate Key Biscayne Consultatio plan to demolish the 40-year-old hotel and build a 165-unit ultra-luxury condominium when the high-end housing market rebounds.
Read more:
Read more:
Darden Restaurants Reports 16% Increase in First Quarter Diluted Net Earnings Per Share
ORLANDO, Fla., Sept 29, 2009 /PRNewswire-FirstCall via COMTEX News Network/ -- Darden Restaurants, Inc. (NYSE: DRI) today reported sales and diluted net earnings per share for the fiscal first quarter ended August 30, 2009. In the first quarter, diluted net earnings per share from continuing operations increased 16% to 67 cents, versus 58 cents in the prior year.
First quarter sales from continuing operations were $1.73 billion, compared to $1.77 billion in the prior year, a 2.3% decrease. Blended same-restaurant sales for Olive Garden, Red Lobster and LongHorn Steakhouse were down 5.3% this quarter, which compares to an estimated decline of 7.8% for the Knapp-Track(TM) benchmark of U.S. same-restaurant sales, excluding Darden.
Read more:
First quarter sales from continuing operations were $1.73 billion, compared to $1.77 billion in the prior year, a 2.3% decrease. Blended same-restaurant sales for Olive Garden, Red Lobster and LongHorn Steakhouse were down 5.3% this quarter, which compares to an estimated decline of 7.8% for the Knapp-Track(TM) benchmark of U.S. same-restaurant sales, excluding Darden.
Read more:
