Starbucks is once again looking to grow, but this time will be different.
The coffee juggernaut is not aiming for seven new stores a day, a clip it reached three years ago after setting a goal of 30,000 stores worldwide. That dream died a year later and just over halfway there with sales and profits sliding before other retailers really felt the recession. The Seattle company has since closed nearly 900 stores and eliminated more than 34,000 jobs.
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Sunday, May 16, 2010
Hideout for Hollywood stars on the market
THE St James’s Hotel and Club, whose members have included Sir Michael Caine and Sir Sean Connery, is up for sale for £60m.
The luxury venue, a stone’s throw from the Ritz hotel in central London, has been owned by the Landesberg and Rosenberg families, who are well known property investors, for the past five years.
They bought the site for £20m from Sir Cyril Stein, the former boss of Ladbrokes, and have spent millions refurbishing the property
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The luxury venue, a stone’s throw from the Ritz hotel in central London, has been owned by the Landesberg and Rosenberg families, who are well known property investors, for the past five years.
They bought the site for £20m from Sir Cyril Stein, the former boss of Ladbrokes, and have spent millions refurbishing the property
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Hotel occupancy up 30 pct in Vietnam
Hotel occupancy rose around 30 percent in the first four months of this year on the back of a recovering tourism sector, an industry official said.
Local hotels were 65 percent full on average during the period, compared to the usual 50 percent, Do Thi Hong Xoan, director of the Hotel Department at the Vietnam National Administration of Tourism was quoted by the Vietnam Economic Times as saying.
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Local hotels were 65 percent full on average during the period, compared to the usual 50 percent, Do Thi Hong Xoan, director of the Hotel Department at the Vietnam National Administration of Tourism was quoted by the Vietnam Economic Times as saying.
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Dubai eyes new hotel service charges law
Dubai is considering implementing a new law to regulate the distribution of the ten percent service charge hotels receive from guests, according to a report by Arabian Business.
The new law is being prepared by Dubai's Department of Tourism and Commerce Marketing, an executive from the tourism authority told Arabian Business.
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The new law is being prepared by Dubai's Department of Tourism and Commerce Marketing, an executive from the tourism authority told Arabian Business.
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Chicago's Allerton Hotel becomes latest, and largest, foreclosure
After loading up on debt near the top of the market, the owner of the landmark Allerton Hotel is all tapped out at the bottom.
A joint venture led by San Francisco-based Chartres Lodging Group LLC has defaulted on $70 million in loans on the 443-room hotel, according to a foreclosure suit filed at the end of April.
Known for its Tip Top Tap lounge — now a ballroom — the 86-year-old tower at 701 N. Michigan Ave. is now grabbing the attention of vulture investors trying to capitalize on its misfortune, caused by heavy borrowing and a severe slump in the downtown hotel market. The Allerton is the largest and latest downtown hotel to run into loan trouble in the recession, but it won't be the last
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A joint venture led by San Francisco-based Chartres Lodging Group LLC has defaulted on $70 million in loans on the 443-room hotel, according to a foreclosure suit filed at the end of April.
Known for its Tip Top Tap lounge — now a ballroom — the 86-year-old tower at 701 N. Michigan Ave. is now grabbing the attention of vulture investors trying to capitalize on its misfortune, caused by heavy borrowing and a severe slump in the downtown hotel market. The Allerton is the largest and latest downtown hotel to run into loan trouble in the recession, but it won't be the last
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Opryland Hotel tax break proposal approved
NASHVILLE - Even in a time of state budget problems, legislators have ideas for tax breaks for those suffering damage from natural disasters, be they big corporations or individual families.
The Senate Finance Committee approved Thursday a proposal that could give Nashville's posh Opryland Hotel a state tax break as it repairs damage from recent flooding.
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The Senate Finance Committee approved Thursday a proposal that could give Nashville's posh Opryland Hotel a state tax break as it repairs damage from recent flooding.
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Unhappy Stock Owners Say Denny's Is No Grand Slam
After canvassing a number of large and small institutional shareholders both supportive and critical of CEO Nelson Marchioli, Barron's concludes the dissidents are supported by stockholders of as much as 35% of Denny's shares outstanding, which would give them at least one of the three board seats sought in the May 19 vote. How many are won will depend on a few very large institutional holders, which together own about 75% of Denny's stock.
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