Wednesday, April 29, 2009
Wyndham Worldwide Reports First Quarter 2009 Results
PARSIPPANY, N.J. 04-29-2009 —
Wyndham Worldwide Corporation (NYSE:WYN) today announced results for the three months ended March 31, 2009.
HIGHLIGHTS:
First quarter 2009 adjusted net income was $74 million, or $0.41 diluted earnings per share (EPS), compared with adjusted net income of $62 million, or $0.35 diluted EPS, for the first quarter of 2008.
First quarter 2009 net cash from operating activities was approximately $210 million, compared with $87 million in the first quarter of 2008. The remaining borrowing capacity on the Company's revolving credit facility increased to approximately $355 million compared with approximately $290 million as of December 31, 2008.
Financial Tables
http://www.wyndhamworldwide.com/docs/WYN1Q09FinancialTables.xls
Wyndham Worldwide Corporation (NYSE:WYN) today announced results for the three months ended March 31, 2009.
HIGHLIGHTS:
First quarter 2009 adjusted net income was $74 million, or $0.41 diluted earnings per share (EPS), compared with adjusted net income of $62 million, or $0.35 diluted EPS, for the first quarter of 2008.
First quarter 2009 net cash from operating activities was approximately $210 million, compared with $87 million in the first quarter of 2008. The remaining borrowing capacity on the Company's revolving credit facility increased to approximately $355 million compared with approximately $290 million as of December 31, 2008.
Financial Tables
http://www.wyndhamworldwide.com/docs/WYN1Q09FinancialTables.xls
Burger King Holdings, Inc. Reports Third Quarter Fiscal 2009 Results
MIAMI--(BUSINESS WIRE)--Apr. 29, 2009-- Burger King Holdings, Inc. (NYSE:BKC):
Highlights:
21st consecutive quarter of worldwide positive comparable sales; up 1.0% despite a 1 point negative calendar shift as 3Q F’08 included an extra day due to leap year.
20th consecutive quarter of U.S. and Canada positive comparable sales, up 1.6% despite a 1 point negative calendar shift as 3Q F’08 included an extra day due to leap year.
Trailing twelve-month net restaurant count increased by 355; on target to meet annual development guidance – among the highest growth rates in the industry.
Highlights:
21st consecutive quarter of worldwide positive comparable sales; up 1.0% despite a 1 point negative calendar shift as 3Q F’08 included an extra day due to leap year.
20th consecutive quarter of U.S. and Canada positive comparable sales, up 1.6% despite a 1 point negative calendar shift as 3Q F’08 included an extra day due to leap year.
Trailing twelve-month net restaurant count increased by 355; on target to meet annual development guidance – among the highest growth rates in the industry.
Tuesday, April 28, 2009
Dubai House Prices Plunged 41% in the First Quarter
Not that this has much to do with hotels, but it shows the depth of the problems in Dubai. What is going to happen with all the new hotels and reosrts that have been built there? Not to mention all the office towers that continue to be built
Harrah’s Entertainment Reports 2009 First-Quarter Results
Revenues decline 13.3 percent from 2008 first quarter
First-Quarter Property EBITDA declines 13.7 percent from prior year
Harrah’s Operating Company exchange offer reduces debt, lowers interest expense
First-Quarter Property EBITDA declines 13.7 percent from prior year
Harrah’s Operating Company exchange offer reduces debt, lowers interest expense
Beer sales plummet
The British pub is under renewed threat with the release of figures that reveal that beers sales have slumped by more than 8% over the last year.
DineEquity, Inc. Announces Solid First Quarter 2009 Financial Results
Company Retires $88 Million of Securitized DebtGLENDALE, CA, Apr 28, 2009 (MARKET WIRE via COMTEX) -- DineEquity, Inc. (NYSE: DIN), the parent company of Applebee's Neighborhood Grill & Bar and IHOP Restaurants, today announced financial results for the first quarter ended March 31, 2009. DineEquity's financial performance for the first quarter 2009 included the following highlights as compared to the same quarter last year: -- IHOP returned to positive growth with a 2.0% increase in domestic
system-wide same-store sales. Applebee's domestic system-wide same-store
sales decreased 3.0%. Both brands experienced improvements in same-store
sales performance from the fourth quarter 2008.
-- Net income per share available to common shareholders was $1.80,
primarily reflecting the positive impact of gains on debt repurchases and
asset sales. Excluding these gains, net income per share available to
common shareholders increased 46.9% to $0.72, primarily due to stronger
operating margin performance at Applebee's restaurants and IHOP's 2.0% same-
store sales growth, which offset Applebee's 3.0% same-store sales decline
and a higher corporate tax rate.
system-wide same-store sales. Applebee's domestic system-wide same-store
sales decreased 3.0%. Both brands experienced improvements in same-store
sales performance from the fourth quarter 2008.
-- Net income per share available to common shareholders was $1.80,
primarily reflecting the positive impact of gains on debt repurchases and
asset sales. Excluding these gains, net income per share available to
common shareholders increased 46.9% to $0.72, primarily due to stronger
operating margin performance at Applebee's restaurants and IHOP's 2.0% same-
store sales growth, which offset Applebee's 3.0% same-store sales decline
and a higher corporate tax rate.
Monday, April 27, 2009
Caribbean hotels slash rates, but travel firms get the benefit
This is why should should always know, up front, what will be passed on to the guest.
