Pub and restaurant operator, Urban & Country Leisure (UCL), is to launch a new boutique hotel chain in the UK. The first property, the former Globe Hotel in Warwick, now renamed The Lazy Cow, is expected to open later this year.
UCL has invested £1.5 million in the 16-bedroom site, with each bedroom designed and themed by interior design consultancy Tibbatts Kirk Abel. The hotel is part of an aggressive two-year strategy plan that will see UCL open a further ten small boutique hotels. In addition, the group is planning to expand its pub and restaurant estate by opening another 12 sites in 2011/12.
UCL is owned by entrepreneur Ross Saunders who said: “The Lazy Cow is the first of what we hope to establish as a chain of small, intimate, stylish boutique hotels that have a strong accent on quality accommodation, stylish interiors with exceptional food and drink offerings.
“Our aim is to provide the best possible accommodation offering to the tourist, business and destination weekend break markets.”
Monday, August 23, 2010
Blackstone to back investment in China real estate
HONG KONG (MarketWatch) -- U.S. private equity group Blackstone Group /quotes/comstock/13*!bx/quotes/nls/bx (BX 10.58, +0.40, +3.93%) will back a plan by Hong Kong luxury property developer Great Eagle Holdings /quotes/comstock/22h!e:41 (HK:41 20.45, 0.00, 0.00%) to build more than 1,000 new homes and 400 hotel rooms in the coastal city of Dalian
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Hotelier starts court action against Anglo Irish Bank’s receivership
Businessman Hugh O’Regan has begun legal proceedings against Anglo Irish Bank, which has appointed a receiver over a number of his assets, including the Morrison Hotel.
The hotelier lodged the High Court action against the bank in recent weeks after it obtained a €37.4 million judgment against him. O’Regan is taking the case in his own name, and not through any company.
O’Regan has not yet filed any documents outlining his grievance or the cause of the action.
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The hotelier lodged the High Court action against the bank in recent weeks after it obtained a €37.4 million judgment against him. O’Regan is taking the case in his own name, and not through any company.
O’Regan has not yet filed any documents outlining his grievance or the cause of the action.
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Benihana sales increase 4.2%
by Eric Hertha
August 23, 2010
Benihana Inc., operator of the nation’s largest chain of Japanese theme and sushi restaurants, today reported total restaurant sales and comparable restaurant sales for the first four weeks (July 19 - August 15, 2010) of the second fiscal quarter 2011 compared to the same four-week period for the second fiscal quarter 2010 (July 20 - August 16, 2009). These results demonstrate continued positive momentum resulting from the company’s implementation of its renewal program.
Total restaurant sales increased 4.2% to $25.2 million from $24.2 million, while Company-wide comparable restaurant sales increased 4.3%, representing the 6th consecutive period with comparable restaurant sales increases. By concept, comparable restaurant sales increased 7.3% at Benihana teppanyaki, while the impact of macro-economic weakness caused decreases of 1.2% at RA Sushi and 0.6% at Haru. There were a total of 388 store-operating weeks during the first four weeks of the second fiscal quarter 2011 compared to a total of 393 store-operating weeks during the first four weeks of the second fiscal quarter 2010.
Richard C. Stockinger, Chief Executive Officer and President, said, “We are pleased with the traffic gains (up 9.7%) at Benihana teppanyaki, which drove our sales momentum during the four-week period. Our renewal program continues to result in visits by both new and lapsed guests to our flagship brand. Our Chef’s Table email database, which since its introduction in April 2009 has grown to approximately 1.2 million subscribers, and our Chef’s Special promotions during the period, featuring ‘shrimp and chicken for 2’ for $35 and ‘hibachi steak for 2’ for $37, also proved effective in encouraging guests to enjoy our Benihana teppanyaki restaurants. While renewed softness in the overall economy led to a sequential slowdown at RA Sushi and Haru from the first fiscal quarter, we are encouraged that both brands were off only marginally from year-ago sales levels.”
August 23, 2010
Benihana Inc., operator of the nation’s largest chain of Japanese theme and sushi restaurants, today reported total restaurant sales and comparable restaurant sales for the first four weeks (July 19 - August 15, 2010) of the second fiscal quarter 2011 compared to the same four-week period for the second fiscal quarter 2010 (July 20 - August 16, 2009). These results demonstrate continued positive momentum resulting from the company’s implementation of its renewal program.
Total restaurant sales increased 4.2% to $25.2 million from $24.2 million, while Company-wide comparable restaurant sales increased 4.3%, representing the 6th consecutive period with comparable restaurant sales increases. By concept, comparable restaurant sales increased 7.3% at Benihana teppanyaki, while the impact of macro-economic weakness caused decreases of 1.2% at RA Sushi and 0.6% at Haru. There were a total of 388 store-operating weeks during the first four weeks of the second fiscal quarter 2011 compared to a total of 393 store-operating weeks during the first four weeks of the second fiscal quarter 2010.
Richard C. Stockinger, Chief Executive Officer and President, said, “We are pleased with the traffic gains (up 9.7%) at Benihana teppanyaki, which drove our sales momentum during the four-week period. Our renewal program continues to result in visits by both new and lapsed guests to our flagship brand. Our Chef’s Table email database, which since its introduction in April 2009 has grown to approximately 1.2 million subscribers, and our Chef’s Special promotions during the period, featuring ‘shrimp and chicken for 2’ for $35 and ‘hibachi steak for 2’ for $37, also proved effective in encouraging guests to enjoy our Benihana teppanyaki restaurants. While renewed softness in the overall economy led to a sequential slowdown at RA Sushi and Haru from the first fiscal quarter, we are encouraged that both brands were off only marginally from year-ago sales levels.”
Huddle House, Inc. Announces the Resignation of CEO
By: Eric Hertha
August 23 2010
Huddle House, an Atlanta-based 400-plus-unit family diner chain, has announced the resignation of Chief Executive Officer Phil Greifeld.
Greifeld joined Huddle House in 1995 and spent nearly 12 years leading the Huddle House brand as its CEO. Greifeld stepped down from his role as President and CEO to pursue other opportunities.
Ken Keymer, current Huddle House Board Director and former CEO of VICORP Restaurants, Inc. (parent company of Village Inn and Baker's Square) and former CEO of AFC Enterprises, (parent company of Popeyes' Famous Fried Chicken) will take over as interim CEO.
"We are thankful for Phil Greifeld's commitment to the Huddle House brand throughout his long tenure and we wish him success in his new endeavor," Keymer said.
August 23 2010
Huddle House, an Atlanta-based 400-plus-unit family diner chain, has announced the resignation of Chief Executive Officer Phil Greifeld.
Greifeld joined Huddle House in 1995 and spent nearly 12 years leading the Huddle House brand as its CEO. Greifeld stepped down from his role as President and CEO to pursue other opportunities.
Ken Keymer, current Huddle House Board Director and former CEO of VICORP Restaurants, Inc. (parent company of Village Inn and Baker's Square) and former CEO of AFC Enterprises, (parent company of Popeyes' Famous Fried Chicken) will take over as interim CEO.
"We are thankful for Phil Greifeld's commitment to the Huddle House brand throughout his long tenure and we wish him success in his new endeavor," Keymer said.
Hotel thief caught red-handed on CCTV escapes trial due to 'lack of evidence'
A hooded man filmed trying to burgle a hotel and then caught red-handed by police at the scene has escaped prosecution - because of a lack of evidence.
The 26-year-old was one of two men caught on CCTV trying to break into a closed bar area after walking into the hotel.
They were also filmed sneaking into an empty bedroom where they ripped a 32-inch LCD TV from the wall and wrapped it in a bed sheet.
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The 26-year-old was one of two men caught on CCTV trying to break into a closed bar area after walking into the hotel.
They were also filmed sneaking into an empty bedroom where they ripped a 32-inch LCD TV from the wall and wrapped it in a bed sheet.
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Atlanta ATM thieves drop cash machine outside hotel
Atlanta police spokesman Otis Redmond told the AJC that officers responded to a 3:40 a.m. call about several men trying to remove the ATM from the lobby of the Biltmore Hotel building on West Peachtree Street.
"Upon arriving at the scene, police observed the ATM lying outside of the location," Redmond said. "Witnesses advised police that the males couldn't load the machine onto the truck they had backed up to the location."
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"Upon arriving at the scene, police observed the ATM lying outside of the location," Redmond said. "Witnesses advised police that the males couldn't load the machine onto the truck they had backed up to the location."
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