Oct. 23 (Bloomberg) -- Dublin’s Thomas Read Group grew into a chain of more than 20 pubs as Ireland’s economy boomed in the mid 1990s. After real estate prices collapsed and drinkers stayed at home, the bars are being sold off.
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Saturday, October 24, 2009
City, Tavern in dueling lawsuits
The question of who owns the famous restaurant name Tavern on the Green has become a legal football that has just landed in the lap of a bankruptcy judge.
As expected, on Wednesday the city sued the operators of Tavern on the Green, the LeRoy family, in U.S. bankruptcy court claiming that they had no right to seek trademark protection for the famed eatery's name because it belongs to the city.
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As expected, on Wednesday the city sued the operators of Tavern on the Green, the LeRoy family, in U.S. bankruptcy court claiming that they had no right to seek trademark protection for the famed eatery's name because it belongs to the city.
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Festival Inns places non-core assets on the market
Festival Inns, the Edinburgh-based hotel and bar operator, has placed a number of its assets on the market after deciding to focus exclusively on its major managed outlets.
The company has grown via acquisition since its launch in 1997 and now has seven hotels and 13 bars in its estate.
After conducting a strategic review, it has placed a number of Edinburgh assets including the Hudson Hotel, Biblo’s Bar, the Jazz Bar and Day Nurseries on the market through property agent Jones Lang
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The company has grown via acquisition since its launch in 1997 and now has seven hotels and 13 bars in its estate.
After conducting a strategic review, it has placed a number of Edinburgh assets including the Hudson Hotel, Biblo’s Bar, the Jazz Bar and Day Nurseries on the market through property agent Jones Lang
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Half-finished Strand hotel for sale at £110m
The half-finished Foster & Partners designed hotel on The Strand, London has been put on the market for £110m.
Initially developed by Spanish group Urvasco, the site was earmarked as a five-star hotel with 173 bedrooms, 79 luxury apartments and underground parking, but in July, six months after work halted on the site, administrators PricewaterhouseCoopers (PwC) were called in
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Initially developed by Spanish group Urvasco, the site was earmarked as a five-star hotel with 173 bedrooms, 79 luxury apartments and underground parking, but in July, six months after work halted on the site, administrators PricewaterhouseCoopers (PwC) were called in
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Singapore Bets on Casino Gambling
Singapore has long enjoyed a reputation as the cleanest and least corrupt city in Southeast Asia, which may be why multinationals such as GE Energy (GE), Citibank (C), and Pfizer (PFE) have made it their home base for the region. But while Singapore offers the kind of security that corporate strategic planners like, it's also, well, a bit stiff—a place where chewing gum can only be sold by pharmacies and defacing public property with graffiti is punishable by a half-dozen swift strokes of the cane.
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Maybe Customers Don't Want Their Baby Back Ribs
With Chili's resorting to a new version of its old baby back, baby back, baby back ribs commercial to drum up sales, it shouldn't be too surprising to find out that Chili's owner Brinker International (NYSE: EAT) reported disappointing results for its fiscal first quarter
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Contract talks between Chicago hotels, unions "very, very far from settlement''
The union representing 6,000 hotel workers in downtown Chicago and 15,000 hospitality workers in the Chicago area said Friday that contract negotiations in this city are "very, very far from settlement."
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STR reports US performance for September 2009
HENDERSONVILLE, Tennessee—The U.S. hotel industry posted declines in all three key performance measurements during September, according to data from STR.
In year-over-year measurements, the industry’s occupancy fell 6.3 percent to end the month at 56.7 percent. Average daily rate dropped 10.2 percent to finish the month at US$96.67. Revenue per available room for the month decreased 15.9 percent to finish at US$54.78.
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In year-over-year measurements, the industry’s occupancy fell 6.3 percent to end the month at 56.7 percent. Average daily rate dropped 10.2 percent to finish the month at US$96.67. Revenue per available room for the month decreased 15.9 percent to finish at US$54.78.
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Chipotle Mexican Grill, Inc. Announces Third Quarter 2009 Results
Highlights for the third quarter of 2009 as compared to the third quarter of 2008 include:
Revenue increased 13.8% to $387.6 million
Comparable restaurant sales increased 2.7%
Restaurant level operating margin was 25.5%, an increase of 410 basis points
Net income was $34.5 million, an increase of 76.9%
Diluted earnings per share was $1.08, an increase of 83.1%
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Revenue increased 13.8% to $387.6 million
Comparable restaurant sales increased 2.7%
Restaurant level operating margin was 25.5%, an increase of 410 basis points
Net income was $34.5 million, an increase of 76.9%
Diluted earnings per share was $1.08, an increase of 83.1%
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Starbucks Reaches Agreement Paul Twohig/Dunkin Donuts Case
SEATTLE--(BUSINESS WIRE)--The Starbucks Coffee Company (NASDAQ:SBUX) announced that it is pleased that the company and Mr. Twohig have resolved the lawsuit it filed against him. As part of the settlement Mr. Twohig will complete initial training but will otherwise not work at Dunkin' until January 15, 2010. In addition Starbucks will be paid $500,000. Mr. Twohig also reconfirmed his commitments not to share Starbucks trade secrets and other confidential information with Dunkin' at any time. We are pleased that the settlement allows both parties to move forward without protracted litigation.
