Eva Longoria Parker is being sued by her former managers at her restaurant 'Beso'.
The part-owners Ronan and Mali Nachum have accused the actress of trying to push them out of their jobs at the Las Vegas restaurant by using scare tactics.
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Tuesday, June 8, 2010
McDonald's May sales up but sees euro drag on profit
Roughly a quarter of McDonald's consolidated operating income originates in countries that use the euro currency, the world's biggest hamburger chain said on Tuesday. Based on current exchange rates, McDonald's expects currency conversion to hurt full-year net income per share, versus its previous expectation for a slight benefit. The company, which gets more than half of its revenue and profits from outside the United States, gave no further details.On Tuesday, the euro hovered near a four-year low against the dollar on concerns over a widening European debt crisis that has struck financial markets and could constrict consumer demand.
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Baird and STR launch new hotel stock index
Milwaukee-based Robert W. Baird & Co. and Smith Travel Research Inc. (STR) have launched the Baird/STR Hotel Stock Index, the first widely available U.S. hotel stock index in the financial industry. The index combines Baird’s knowledge of the financial markets with STR’s data processing.
“We believe this index can help hotel industry professionals monitor investment values and gauge interest in hotel investment broadly,” said David Loeb, managing director of Baird’s hotel research platform.
The newly launched Baird/STR Hotel Stock Index ended May at 1619.749, an 11.3-percent decrease for the month and a 17.4-percent increase for year-to-date 2010.
“It is surprising how frequently we in the industry have one view of the outlook while investors have an entirely different view,” said Randy Smith, CEO at STR. “For example, industry stocks began rebounding long before improvements in RevPAR became the norm. This index will provide one more variable in developing an improved model to better understand where the industry is going and how we get there.”
“We believe this index can help hotel industry professionals monitor investment values and gauge interest in hotel investment broadly,” said David Loeb, managing director of Baird’s hotel research platform.
The newly launched Baird/STR Hotel Stock Index ended May at 1619.749, an 11.3-percent decrease for the month and a 17.4-percent increase for year-to-date 2010.
“It is surprising how frequently we in the industry have one view of the outlook while investors have an entirely different view,” said Randy Smith, CEO at STR. “For example, industry stocks began rebounding long before improvements in RevPAR became the norm. This index will provide one more variable in developing an improved model to better understand where the industry is going and how we get there.”
U.K. Men Fraudulently Tried to Sell the Ritz Hotel
June 8 (Bloomberg) -- Three men went on trial in London accused of trying to sell the city’s landmark Ritz Hotel and Casino even though they didn’t own it.
Conn Farrell, 57, Patrick Dolan, 68, and Anthony Lee, 49, are accused of trying to sell the hotel, owned by billionaire British financiers David and Frederick Barclay, to a property development company for 250 million pounds ($359 million). That price was a “gross undervaluation” of the property, according to a prosecutor at the trial, which began today at Southwark Crown Court in London. The men have all pleaded not guilty.
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Conn Farrell, 57, Patrick Dolan, 68, and Anthony Lee, 49, are accused of trying to sell the hotel, owned by billionaire British financiers David and Frederick Barclay, to a property development company for 250 million pounds ($359 million). That price was a “gross undervaluation” of the property, according to a prosecutor at the trial, which began today at Southwark Crown Court in London. The men have all pleaded not guilty.
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Pebblebrook buys first hotel since going public
(Reuters) - Pebblebrook Hotel Trust (PEB.N) said it bought the Doubletree Bethesda Hotel and Executive Meeting Center for $67.1 million, the first deal for the company that was formed to take advantage of acquisition opportunities in the lodging space.
Pebblebrook said it funded the acquisition of the 269-room, upscale hotel located in downtown Bethesda, through its initial public offering.
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Pebblebrook said it funded the acquisition of the 269-room, upscale hotel located in downtown Bethesda, through its initial public offering.
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FelCor Repaying $177 Million of Debt at Substantial Discount
IRVING, Texas, Jun 08, 2010 (BUSINESS WIRE) -- FelCor Lodging Trust Incorporated /quotes/comstock/13*!fch/quotes/nls/fch (FCH 5.40, -0.18, -3.14%) today announced that it has agreed to repay $177 million of secured debt at a significant discount to the principal balance. The two loans bear interest at LIBOR plus 155 basis points and are scheduled to mature in May 2012. The loans will be settled for $130 million, plus accrued interest, representing a 27% discount to the principal balance. The two hotels that secure the loans have a combined 921 guest rooms and more than 100,000 square feet of meeting space. The payment, approximately $141,000 per room, will be funded with cash on hand and reflects a substantial discount to replacement cost.
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Burger King says currency translation will hurt 4Q
Restaurant operator Burger King Holdings Inc. said Thursday current currency translation will hurt its revenue.
The company expects foreign exchange translation will cut its earnings per share by a penny to 2 cents per share in the fiscal fourth quarter. Previously, the company said currency translation would benefit earnings
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The company expects foreign exchange translation will cut its earnings per share by a penny to 2 cents per share in the fiscal fourth quarter. Previously, the company said currency translation would benefit earnings
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iPad replaces menu in hotel restaurant
Can iPads replace waiters and waitresses? We'll soon find out. A hotel restaurant in Australia last week ditched its printed menus and replaced them with iPads, giving us yet another peak at what the hotel of the future might look like.
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Rome Plans Hotel Tax as Credit Rating Under Siege
June 8 (Bloomberg) -- Rome is considering a hotel tax on the 9 million visitors to the Eternal City each year, a revenue- raising measure that may hurt tourism in the Italian capital and put further pressure on its credit rating.
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Hotel investor buys Dallas Le Meridien out of foreclosure
HEI Hotels & Resorts of Connecticut has bought the 258-room Le Meridien Dallas North Hotel near the Galleria shopping mall.
HEI gained title to the 9-year-old hotel at last week's foreclosure auction. Earlier, the investor had bought the debt on the property at 13402 Noel Road.
The Far North Dallas hotel acquisition is HEI's fourth hotel purchase in 2010.
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HEI gained title to the 9-year-old hotel at last week's foreclosure auction. Earlier, the investor had bought the debt on the property at 13402 Noel Road.
The Far North Dallas hotel acquisition is HEI's fourth hotel purchase in 2010.
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Big money, plans for Joie de Vivre hotels
At a time when "hotel" and "foreclosure" have become a fast word association, a string of Bay Area boutique hotels is getting tens of millions of dollars in new capital in order to expand.
San Francisco's Joie de Vivre Hospitality, the second-largest operator of boutique hotels in the country, has entered a "strategic capital partnership" with Geolo Capital, the private equity investment arm of the John A. Pritzker family (yes, the Pritzkers of Hyatt Hotels fame), which will take a controlling interest in Joie de Vivre's 33 Bay Area-operated hotels, including the Galleria Park, Hotel Drisco and Hotel Vitale in San Francisco.
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San Francisco's Joie de Vivre Hospitality, the second-largest operator of boutique hotels in the country, has entered a "strategic capital partnership" with Geolo Capital, the private equity investment arm of the John A. Pritzker family (yes, the Pritzkers of Hyatt Hotels fame), which will take a controlling interest in Joie de Vivre's 33 Bay Area-operated hotels, including the Galleria Park, Hotel Drisco and Hotel Vitale in San Francisco.
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