LAS VEGAS—Casino operator Boyd Gaming Corp. is asking a federal bankruptcy judge to let it buy some or part of the assets of one of its rivals.
Las Vegas-based Boyd filed a motion Sunday in Station Casinos Inc.'s Chapter 11 reorganization case in U.S. Bankruptcy Court in Reno.
Boyd wants the judge to appoint an examiner so outside companies can offer reorganization plans.
Station Casinos rejected a $950 million offer earlier this year from Boyd to buy some or all of Station's assets.
Station Casinos operates 18 casinos in the Las Vegas area. It filed for bankruptcy protection in July and asked the court last week for a four-month extension to submit a reorganization plan.
Tuesday, November 3, 2009
Texas Roadhouse, Inc. Announces Third Quarter 2009 Results
Results for the quarter included:
•Comparable restaurant sales decreased 4.6% at company-owned restaurants and decreased 3.6% at franchise restaurants;
•One company restaurant and two franchise restaurants opened, while two company restaurants closed;
•Restaurant margins increased 133 basis points;
•Diluted earnings per share increased 27% to $0.15 from $0.12 in the prior year period.
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•Comparable restaurant sales decreased 4.6% at company-owned restaurants and decreased 3.6% at franchise restaurants;
•One company restaurant and two franchise restaurants opened, while two company restaurants closed;
•Restaurant margins increased 133 basis points;
•Diluted earnings per share increased 27% to $0.15 from $0.12 in the prior year period.
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Carrols Restaurant Group, Inc. Reports Financial Results for the Third Quarter 2009
Highlights for the third quarter of 2009 versus the third quarter of 2008 include:
•Net income increased to $5.6 million, or $0.26 per diluted share, from net income of $3.7 million, or $0.17 per diluted share;
•Total revenues were $201.2 million compared to $209.1 million;
•Comparable restaurant sales decreased 0.1% at Pollo Tropical(R), decreased 4.3% at Taco Cabana(R), and decreased 6.1% at Burger King(R);
•Total outstanding indebtedness was reduced $25 million year-to-date to $291.2 million
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•Net income increased to $5.6 million, or $0.26 per diluted share, from net income of $3.7 million, or $0.17 per diluted share;
•Total revenues were $201.2 million compared to $209.1 million;
•Comparable restaurant sales decreased 0.1% at Pollo Tropical(R), decreased 4.3% at Taco Cabana(R), and decreased 6.1% at Burger King(R);
•Total outstanding indebtedness was reduced $25 million year-to-date to $291.2 million
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Starwood Hotels Signs an Agreement to Sell Bliss Spas to Steiner Leisure for $100 Million
WHITE PLAINS, N.Y.--(BUSINESS WIRE)--Nov. 2, 2009-- Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) announced today that the company has signed an agreement to sell the Bliss spa and product company to Steiner Leisure Limited (Nasdaq:STNR) for $100 million. As part of the transaction, Bliss and Remede spas and amenities will remain exclusive to Starwood in the hotel category at W Hotels and St. Regis Hotels respectively
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Monday, November 2, 2009
Sands looks to raise $2.5B with Hong Kong IPO
HONG KONG (AP) -- U.S. casino operator Las Vegas Sands Corp. aims to raise $2.5 billion through an initial public offering in Hong Kong this month to help repay massive debts and restart languishing casino projects in Macau, a document showed Monday.
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'Irish pub trade in crisis as 1,500 close over five years'
More than 1,500 pubs, hotels and restaurants have gone to the wall in the past five years, costing thousands of jobs, a stark survey will reveal today. And one in three rural pubs now say they will struggle to survive into the future, despite massive efforts within the industry to woo more customers - Irish Independent
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Sunday, November 1, 2009
McDonald's Third Quarter Earnings Rise on Strong Global Results
McDonald's reported the following third quarter highlights:
-- Global comparable sales increased 3.8% with the U.S. up 2.5%, Europe up
5.8% and Asia/Pacific, Middle East and Africa up 2.2%
-- Consolidated operating income increased 6% (11% in constant currencies)
over the prior year
-- Earnings per share of $1.15, a 10% increase (14% in constant currencies)
over the prior year
-- The quarterly cash dividend increased 10% to $0.55 per share - the
equivalent of $2.20 per share annually - effective fourth quarter 2009
-- Approximately $1.3 billion returned to shareholders through share
repurchases and dividends
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-- Global comparable sales increased 3.8% with the U.S. up 2.5%, Europe up
5.8% and Asia/Pacific, Middle East and Africa up 2.2%
-- Consolidated operating income increased 6% (11% in constant currencies)
over the prior year
-- Earnings per share of $1.15, a 10% increase (14% in constant currencies)
over the prior year
-- The quarterly cash dividend increased 10% to $0.55 per share - the
equivalent of $2.20 per share annually - effective fourth quarter 2009
-- Approximately $1.3 billion returned to shareholders through share
repurchases and dividends
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Burger King Holdings Inc. Reports First Quarter Fiscal 2010 Results
First Quarter Highlights:
Solid development growth across all business segments as net restaurant count increased by 58 with international markets accounting for approximately 80 percent of the increase;
U.S. and Canada company restaurant margin improved 180 basis points to 13.9 percent from 12.1 percent in the same period last year;
Worldwide company restaurant margin improved 40 basis points to 13.0 percent from 12.6 percent in the same period last year;
Worldwide comparable sales were negative 2.9 percent compared to positive 3.6 percent in the same period last year;
Earnings per share were $0.34, including $0.02 per share of negative impact from currency translation, compared to earnings per share of $0.36 and adjusted earnings per share of $0.38 in the same period last year.
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Solid development growth across all business segments as net restaurant count increased by 58 with international markets accounting for approximately 80 percent of the increase;
U.S. and Canada company restaurant margin improved 180 basis points to 13.9 percent from 12.1 percent in the same period last year;
Worldwide company restaurant margin improved 40 basis points to 13.0 percent from 12.6 percent in the same period last year;
Worldwide comparable sales were negative 2.9 percent compared to positive 3.6 percent in the same period last year;
Earnings per share were $0.34, including $0.02 per share of negative impact from currency translation, compared to earnings per share of $0.36 and adjusted earnings per share of $0.38 in the same period last year.
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Turnberry told to pay $6M to Fairmont
The Soffer family's Turnberry Isle resort must pay $6 million to the hotel's operator -- fees held back over allegations of mismanagement at the money-losing luxury resort in Aventura.
An arbitrator awarded the $6 million in back fees and interest to Fairmont Hotels & Resorts after Turnberry dropped its objection to the claim. But after giving up in the arbitration, a Turnberry lawyer wrote Fairmont that the owner won't pay the fee because other claims against Fairmont are much larger
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An arbitrator awarded the $6 million in back fees and interest to Fairmont Hotels & Resorts after Turnberry dropped its objection to the claim. But after giving up in the arbitration, a Turnberry lawyer wrote Fairmont that the owner won't pay the fee because other claims against Fairmont are much larger
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$855 a Night? Can We Talk?
WHAT’S the best way to book a hotel? That’s becoming trickier as hotels try everything they can to drum up business in one of their most challenging years.
Average daily hotel rates in the United States are expected to drop 9.7 percent for the year, to $96.43, according to Smith Travel Research, which tracks the industry. That would be the steepest year-over-year decrease since Smith began tracking hotel data in 1987
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Average daily hotel rates in the United States are expected to drop 9.7 percent for the year, to $96.43, according to Smith Travel Research, which tracks the industry. That would be the steepest year-over-year decrease since Smith began tracking hotel data in 1987
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Saturday, October 31, 2009
Sol Kerzner still planning casino for London's O2 Arena
Sol Kerzner, the casino magnate, is hoping to revive his £200m plan to build a super-casino and hotel at the site of London's former Millennium Dome.
The 74-year-old South African made the disclosure as he prepared for Saturday's gala opening of Mazagan Beach Resort, 90km outside Casablanca, Morocco, where snake-charmers and belly dancers are set to mingle with celebrities including Naomi Campbell, Lindsay Lohan, Naomi Watts and Simon and Yasmin Le Bon.
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The 74-year-old South African made the disclosure as he prepared for Saturday's gala opening of Mazagan Beach Resort, 90km outside Casablanca, Morocco, where snake-charmers and belly dancers are set to mingle with celebrities including Naomi Campbell, Lindsay Lohan, Naomi Watts and Simon and Yasmin Le Bon.
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Travelodge hotel chain posts pretax profit of €1.2m
THE TRAVELODGE hotel chain have posted pretax profits of more than €1.2 million for 2008 in abridged accounts filed with the Companies Registration Office.
Smorgs (Ireland) Limited, the company which trades as the Travelodge chain in Ireland, posted pretax profits for the 12-month period ending December 31st, 2008, of €1.26 million, down over €500,000 on the previous year.
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Smorgs (Ireland) Limited, the company which trades as the Travelodge chain in Ireland, posted pretax profits for the 12-month period ending December 31st, 2008, of €1.26 million, down over €500,000 on the previous year.
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Win a hotel
[UKPRwire, Tue Oct 27 2009] If you are bored with the same old nine to five slog, why not start a whole new life as the manager of your own hotel – a stylish sixteen-bedroom hotel in Wiltshire and £50,000 annual income is being offered as a prize in the latest property competition to hit the headlines...
The Landmark Swindon is set in the heart of the beautiful Marlborough Downs near Swindon in Wiltshire.
Its directors, Malcolm and Margaret Pearson, have owned the hotel property since it was built in 1979, converted and refurbished the building into a Hotel in 2000
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The Landmark Swindon is set in the heart of the beautiful Marlborough Downs near Swindon in Wiltshire.
Its directors, Malcolm and Margaret Pearson, have owned the hotel property since it was built in 1979, converted and refurbished the building into a Hotel in 2000
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