Reuters) - British pizza restaurant chain Prezzo Plc (PRZ.L) reported a 21 percent rise in first-half adjusted pretax profit, helped by new restaurants launches and improved margins, and said it was confident for the rest of the year.
The company, which opened seven new restaurants during the first half, said current trading was in line with expectations.
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Wednesday, September 8, 2010
Dancing Shrimp Off the Menu at California Restaurant. Lepricons still there
SACRAMENTO, Calif. — A Sacramento restaurant agreed to stop serving live shrimp after an animal-rights group said the practice was cruel to the shellfish.
People for the Ethical Treatment of Animals said the restaurant, Nishiki Sushi, suggested squeezing lemon juice on the shrimps' exposed flesh so they would writhe as they were eaten. The dish is commonly referred to as "dancing shrimp" and is considered a delicacy in Japan.
PETA contacted the restaurant after receiving dozens of complaints about the practice.
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Chinese chain Country Style Cooking files IPO
NEW YORK — Quick service Chinese company Country Style Cooking Restaurant Chain Co. Ltd. seeks to raise up to $100 million in an initial public offering.
The company did not specify the number of shares or the price in the filing it made Tuesday with the Securities and Exchange Commission.
The company, based in Yuzhong District of Chongqing in China's Sichuan province, has grown from nine restaurants in 2008 to 101 restaurants at the end of June. It operates all its own restaurants.
It said it plans to have more than 130 restaurants in China at the end of the year.
Revenues reached $72.9 million in 209 and were $48.1 million in the first half of this year.
The company did not specify the number of shares or the price in the filing it made Tuesday with the Securities and Exchange Commission.
The company, based in Yuzhong District of Chongqing in China's Sichuan province, has grown from nine restaurants in 2008 to 101 restaurants at the end of June. It operates all its own restaurants.
It said it plans to have more than 130 restaurants in China at the end of the year.
Revenues reached $72.9 million in 209 and were $48.1 million in the first half of this year.
Restaurant bans screaming kids; Business Booms!
The restraunteur says she got sick of customers complaining about parents who couldn't control their kids during meals, treating the restaurant like their personal playground, misbehaving and squawking.
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London's Savoy Hotel ready for reopening - $153M Over Budget
The Savoy’s general manager is hoping to achieve when the celebrated London hotel finally re-opens – two years late and £100 million over budget – on the 10th day of the 10th month 2010. With just over a month to go, Kieran MacDonald says its owner, Prince Alwaleed Bin Talal, is “aiming for perfection – and hopefully we’ll have it”.
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U.S. Hotel Market Posts Positive Results in August
MIAMI, FL) -- According to the latest industry report from Smith Travel Research (STR), the U.S. hotel industry reported increases in all three key performance measurements during the last week August 2010.
In year-over-year measurements, the industry's occupancy increased 10.6 percent to 60.1 percent. Average daily rate rose 2.4 percent to US$96.50. Revenue per available room increased 13.2 percent to US$57.98.
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In year-over-year measurements, the industry's occupancy increased 10.6 percent to 60.1 percent. Average daily rate rose 2.4 percent to US$96.50. Revenue per available room increased 13.2 percent to US$57.98.
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Marriott and Sheraton Niagara Falls sold
Niagara's DiCienzo family has picked up two of the best views of the Horseshoe Falls after buying the Marriott Fallsview and Sheraton Fallsview hotels last week.
"We've been looking for acquisitions for a little while. This move seemed to make sense," said Dino A. DiCienzo, one of four children of patriarch Dino DiCienzo Sr., now involved in the family business.
He wouldn't disclose how much his family paid to buy them from the family of Cosmo Menechella, another Falls family in the hotel business.
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"We've been looking for acquisitions for a little while. This move seemed to make sense," said Dino A. DiCienzo, one of four children of patriarch Dino DiCienzo Sr., now involved in the family business.
He wouldn't disclose how much his family paid to buy them from the family of Cosmo Menechella, another Falls family in the hotel business.
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JER Partners Announces the Sale of the Hilton College Station
MCLEAN, Va., Sept. 8 /PRNewswire/ -- JER Partners ("JER"), a private commercial real estate investment management company, announced today that the firm has sold the Hilton College Station, a 303-room full-service hotel located in College Station, TX, to an affiliate of Encore Enterprises. The buyer is expected to complete a comprehensive renovation of the hotel.
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Omni keeps going
Closely held Omni Hotels & Resorts is fast becoming a big player in the U.S. market for owning and operating convention-center hotels, putting itself in the class of heavyweights like Hyatt Hotels Corp. and Marriott International Inc.
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Hotels Poised to Shed Properties
With the U.S. hotel market recovering, some of the country's largest hotel companies are poised to resume their efforts to divest themselves of real estate.
Brands such as Marriott International Inc. and Hilton Hotels Worldwide began divesting their properties in the 1980s to focus on the more lucrative and less capital-hungry business of managing the properties for fees. By now, most have only a few dozen properties remaining on their balance sheets, and they are looking to further whittle their holdings after holding off during the recession.
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Brands such as Marriott International Inc. and Hilton Hotels Worldwide began divesting their properties in the 1980s to focus on the more lucrative and less capital-hungry business of managing the properties for fees. By now, most have only a few dozen properties remaining on their balance sheets, and they are looking to further whittle their holdings after holding off during the recession.
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Starwood Hotels selling four-star St. Regis Resort Aspen
The sale price was not disclosed.
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Homeless Upset About McDonald's Dollar Menu Increase
CANVAS STAFF REPORTS - Unhappy meals have arrived at a McDonald's in San Francisco.
Homeless people who hang out at the nearby Golden Gate Park used to get 99-cent burgers at the McDonald's located at Haight and Stanyan streets in the Haight-Ashbury neighborhood.
But the eatery got rid of its Dollar Menu about a month ago. That move, which McDonald's called a simple business decision, means items on the menu are now too expensive for the people who spend much of their day hanging out on the sidewalk in front of the restaurant.
Items on the Dollar Menu now cost around $1.50.
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Homeless people who hang out at the nearby Golden Gate Park used to get 99-cent burgers at the McDonald's located at Haight and Stanyan streets in the Haight-Ashbury neighborhood.
But the eatery got rid of its Dollar Menu about a month ago. That move, which McDonald's called a simple business decision, means items on the menu are now too expensive for the people who spend much of their day hanging out on the sidewalk in front of the restaurant.
Items on the Dollar Menu now cost around $1.50.
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