WHILE hotel performance for September and October appears to be "slightly better" than the same period last year, a tourism expert does not expect the industry to fully rebound from the grips of the economic downturn for at least another year.
Frank Comito, executive vice-president of the Bahamas Hotel Association, said despite what he expects to be a modest boost in performance over the last two months, the sector should remain braced for a rough ride lasting until late 2010, early 2011
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Thursday, October 29, 2009
Barmen charged as hotel guest dies from alcohol intoxication
TWO barmen working in one of the country's most famous hotels have been charged with the unlawful killing of an Englishman who died from acute alcohol intoxication on the night of his birthday
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Kingdom Hotel Investments sees Q3 revPAR down 9%
Trading remains in line with general market trends and despite the global economic challenges KHI’s hotel operations remain profitable and cash generative,” the luxury hotel operator said in a statement on the Nasdaq Dubai website.
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Pizza Hut iPhone App Reaches $1 Million in Sales
PRESS RELEASE: DALLAS, Oct. 28 /PRNewswire/ -- After being live in the iTunes App Store for just three months, the Pizza Hut App for the Apple iPhone and iPod touch has garnered more than one million dollars in sales. As the featured icon in the iTunes Lifestyle Category, the App is a proven option for customers seeking an innovative way to order their pizza, pasta, and wings from Pizza Hut
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Heineken to take over Globe Pubs
A new vehicle called EBP Pub Company has purchased the troubled operator after it was placed into administration with Zolfo Cooper, at the behest of bondholders who had appointed Bank of New York Mellon to oversee their interests.
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Wyndham profit beats view; eyes brand acquisitions
The company boosted its full-year EBITDA outlook by about 2 percent and forecast 2009 revenue and fourth-quarter results above analysts' estimates.
Wyndham also reported better-than-expected third-quarter profit, and its shares rose 1.5 percent to $16.94 in morning trade on the New York Stock Exchange
Concerns over Ladbroke's exposure to Hilton Hotels' $20bn debts
Hilton Hotels has a $20bn debt pile The private equity giant is talking to lenders in an attempt to cut $5bn of debt as part of a complex restructuring which could see it inject as much as $800m of new equity into the business. It comes just two years after the $26bn takeover of the hotel chain, at the height of the leveraged buy-out boom, since when the company’s trading has deteriorated.
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Hyatt IPO May Benefit Pritzkers Before Investors
Oct. 28 (Bloomberg) -- Hyatt Hotels Corp.’s planned initial public offering has conflicts that allow the founding Pritzker family to benefit ahead of shareholders, research firm Green Street Advisors said in a report today
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Famous Dave's Reports Third Quarter Earnings of $0.13 Per Share
MINNEAPOLIS, Oct 28, 2009 (BUSINESS WIRE) -- Famous Dave's of America, Inc. (NASDAQ: DAVE) today reported revenue of $33.3 million and net income of $1.2 million, or $0.13 per diluted share, for its fiscal third quarter ended September 27, 2009. Total revenue for the quarter decreased 5.1 percent from the comparable period in 2008. For the nine months ended September 27, 2009, the company reported revenue of $103.4 million and net income of $4.9 million, or $0.54 per diluted share.
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Unite Here: Workers Vote to Authorize a Strike at 5 Chicago Area Hotels
CHICAGO--(BUSINESS WIRE)--Today, workers at five area hotels, including the Sheraton Chicago Hotel and Towers, Westin Michigan Avenue, W Lakeshore, W Chicago-City Center, and Tremont Hotel, voted to authorize a strike by an 89% majority, in a major escalation of a citywide labor dispute among Chicago’s downtown hotels. The vote authorizes the rank-and-file bargaining committee to call a strike or boycott, if necessary
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