London is leading European hotels out of the recession, according to business advisory firm Deloitte.
While hotels throughout Europe will see a growth in occupancy, average room rates and revenue per available room (revpar), it will be difficult to surpass pre-recessionary levels this year, explained Alex Kyriakidis, global managing partner of tourism, hospitality and leisure at Deloitte.
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Tuesday, March 9, 2010
Ruby Tuesday, Inc. Reports Continued Sales Improvement
MARYVILLE, Tenn.--(BUSINESS WIRE)--Ruby Tuesday, Inc. (NYSE: RT - News) today announced that same-restaurant sales for Company-owned restaurants were -0.8% to -1.0% in the third quarter ended March 2, 2010, compared to the same quarter of the prior year. Severe weather during the quarter is estimated to have reduced same-restaurant sales by 1.5-2%. Same-restaurant sales at domestic franchised restaurants decreased 5.3-5.5% in the third quarter compared to the same quarter of the prior year.
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Hilton is still the top hospitality brand but Michelin falls off the list
Hotel groups continue to lead the way for hospitality in the latest UK Business Superbrands list, with Hilton ranked highest against its closest rivals Marriott and Sheraton.
The UK Business Superbrands 2009 honours the strongest business-to-business brands in the UK. The list was topped by Microsoft this year, but renowned tyre company and foodie guide Michelin, which last year featured at number eight, fell off the list completely.
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The UK Business Superbrands 2009 honours the strongest business-to-business brands in the UK. The list was topped by Microsoft this year, but renowned tyre company and foodie guide Michelin, which last year featured at number eight, fell off the list completely.
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Posh Four Seasons project in downtown Seattle faces liens, lawsuits
More than a year after the $120 million Four Seasons Hotel and Private Residences opened to considerable fanfare, a dozen firms that designed and built the ultraluxury project say they haven't been paid in full.
They have recorded claims totaling more than $34 million against the downtown Seattle building. The largest lien, for $23.7 million, was filed in August by Lease Crutcher Lewis, the project's general contractor
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They have recorded claims totaling more than $34 million against the downtown Seattle building. The largest lien, for $23.7 million, was filed in August by Lease Crutcher Lewis, the project's general contractor
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Burger King Holdings, Inc. Announces Impact of Weather on Comparable Sales for January and February 2010
MIAMI, Mar 09, 2010 (BUSINESS WIRE) -- Burger King Holdings, Inc. (NYSE:BKC) today announced that U.S. and Canada segment comparable sales were severely impacted during the months of January and February 2010 by adverse weather conditions in the Central and Eastern portions of the U.S., where over 75 percent of this segment's company- and franchise-owned restaurants are located. The U.S. and Canada segment reported comparable system sales of negative 8.2 percent in the two-month period ended February 28, 2010, compared to positive 3.1 percent in the same period last year. Based on its analysis, the company believes inclement weather negatively impacted January and February U.S. and Canada company comparable sales by approximately 3.0 percentage points during the period. Therefore, the company expects third-quarter fiscal 2010 U.S. and Canada total revenues, company restaurant margin and income from operations to be lower than the prior year period.
Worldwide comparable sales for the two-month period ended February 28, 2010, were negative 5.4 percent, partially offset by positive results in the EMEA/APAC business segment, compared to worldwide comparable sales of positive 2.5 percent in the prior year period.
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Worldwide comparable sales for the two-month period ended February 28, 2010, were negative 5.4 percent, partially offset by positive results in the EMEA/APAC business segment, compared to worldwide comparable sales of positive 2.5 percent in the prior year period.
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Monday, March 8, 2010
State trying to tax hotels that offer 'free' breakfasts
The state wants to tax the lodging businesses for the food that they offer as free breakfasts as part of their room rate.
The budget-strapped state hopes to get an estimated $10 million for its coffers from the sweet rolls, coffee and such that hotel patrons enjoy at no charge from the Smoky Mountains to Graceland.
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The budget-strapped state hopes to get an estimated $10 million for its coffers from the sweet rolls, coffee and such that hotel patrons enjoy at no charge from the Smoky Mountains to Graceland.
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Troopers raid popular bars for unlicensed beers
More than a dozen armed State Police officers conducted simultaneous raids last week on three popular Philadelphia bars known for their wide beer selections. The cops confiscated hundreds of bottles of expensive ales and lagers, now in State Police custody at an undisclosed location.
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Billionaire robbed at Oscar hotel
Billionaire Pepe Fanjul was robbed at his suite at the Beverly Hills Four Seasons Hotel at the height of Oscar week. The Cuban-born sugar baron -- one of the world's richest men -- and his wife, Emilia, were robbed by a man posing as a hotel worker Friday night. A source told us, "They were riding up in the elevator when a man in a blue uniform with 'hotel' written on his shirt started to talk Spanish to Pepe
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Sunday, March 7, 2010
Park Inn Hyde Park On Market For £35m
Acting on behalf of Gresham Hotel Group, Christie + Co has been instructed to sell the Park Inn Hyde Park, London.
This 188-key listed building, which has a prime location on Lancaster Gate, is very close to both Hyde Park and Kensington Gardens, an area which will continue to evolve as neighboring landmark property developments near completion.
The hotel is within easy reach of Marble Arch, the West End and all the principal attractions of the capital. It also offers excellent transport links throughout London and to Heathrow via the Heathrow Express.
Patrick Coyle, chief executive of Gresham Hotel Group, comments: “In recent months, the number of enquiries made to us from parties interested in our London hotel has escalated. As we continue to focus on our group of Irish and continental European hotels we see this therefore as a perfect opportunity to conduct a structured sales process of our London asset. Our appointed agent, Christie + Co, is perfectly placed to handle this sale on our behalf.”
Jeremy Hill, Christie + Co’s Head of Hotels, says: “Having just completed on the sale of the Park Inn Russell Square, WC2 we have a large number of UK and international buyers desperately keen to secure a central London hotel.
This 188-key listed building, which has a prime location on Lancaster Gate, is very close to both Hyde Park and Kensington Gardens, an area which will continue to evolve as neighboring landmark property developments near completion.
The hotel is within easy reach of Marble Arch, the West End and all the principal attractions of the capital. It also offers excellent transport links throughout London and to Heathrow via the Heathrow Express.
Patrick Coyle, chief executive of Gresham Hotel Group, comments: “In recent months, the number of enquiries made to us from parties interested in our London hotel has escalated. As we continue to focus on our group of Irish and continental European hotels we see this therefore as a perfect opportunity to conduct a structured sales process of our London asset. Our appointed agent, Christie + Co, is perfectly placed to handle this sale on our behalf.”
Jeremy Hill, Christie + Co’s Head of Hotels, says: “Having just completed on the sale of the Park Inn Russell Square, WC2 we have a large number of UK and international buyers desperately keen to secure a central London hotel.
Robbers raid Berlin hotel poker tournament
Armed robbers have stormed a luxury hotel in central Berlin where a poker tournament was taking place, German police say.
One report said the gang - armed with assault rifles and hand grenades - made off with the tournament jackpot of 800,000 euros ($1.1m; £726,000).
Several people were injured in the ensuing panic, although none of them seriously.
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One report said the gang - armed with assault rifles and hand grenades - made off with the tournament jackpot of 800,000 euros ($1.1m; £726,000).
Several people were injured in the ensuing panic, although none of them seriously.
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Saturday, March 6, 2010
Cybercriminals still consider hotels easy targets for credit card info
No need to get paranoid, but it is a valid question, since online security firm Trustwave Spiderlabs consider hotels hackers' No. 1 target. It's also a timely question since Wyndham Hotels just yesterday announced that hackers stole customer credit card information by breaching its networks. It's Wyndham's third breach in 12 months.
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Westin hotel in LA reports possible data breach
IDG News Service - People who stayed at the Westin Bonaventure Hotel & Suites in Los Angeles last year and used their credit or debit card to eat there should keep a close eye on their bank statements.
Hotel officials disclosed Friday that the hotel's four restaurants, along with its valet parking operation, may have been hacked at some time between April and December, disclosing names, credit card numbers and expiration dates printed on customers' debit and credit cards.
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Hotel officials disclosed Friday that the hotel's four restaurants, along with its valet parking operation, may have been hacked at some time between April and December, disclosing names, credit card numbers and expiration dates printed on customers' debit and credit cards.
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Friday, March 5, 2010
Tim Hortons lays out aggressive growth plans
Tim Hortons Inc.outlined its growth plans — which include 900 new North American locations over the next three years — at its investor conference today.
The Tim Hortons strategic plan targets investments and opportunities designed to leverage its core business strengths and business model to drive future growth
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The Tim Hortons strategic plan targets investments and opportunities designed to leverage its core business strengths and business model to drive future growth
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Red Robin Forms Committee to Replace CEO
Restaurant chain Red Robin Gourmet Burgers (RRGB: 23.17, 0.98, 4.42%) announced plans Friday to form a committee that will find a new CEO to replace chief executive Dennis Mullen.
The company has seen sales drop by more than 11% in the last year, and said in its filing with the SEC that it will look to find a new CEO by December 31. Mullen’s contract with the company runs through 2012, so it is unclear whether or not he would be replaced before that expiration.
Pattye Moore, chair of Red Robin's board, said the committee has been formed to aid the board of directors in its overall succession planning.
"This has been an ongoing process and Dennis Mullen is under contract through December 2012, so we look forward to a seamless transition when we find a great candidate," Moore said in a company statement.
The search to replace 66-year-old Mullen will involve the appointment of three new board members including Robert Aiken, former CEO of U.S. Foodservice, Lloyd Hill, former CEO of Applebee's and Stuart Oran, former board member at Wendy's
The company has seen sales drop by more than 11% in the last year, and said in its filing with the SEC that it will look to find a new CEO by December 31. Mullen’s contract with the company runs through 2012, so it is unclear whether or not he would be replaced before that expiration.
Pattye Moore, chair of Red Robin's board, said the committee has been formed to aid the board of directors in its overall succession planning.
"This has been an ongoing process and Dennis Mullen is under contract through December 2012, so we look forward to a seamless transition when we find a great candidate," Moore said in a company statement.
The search to replace 66-year-old Mullen will involve the appointment of three new board members including Robert Aiken, former CEO of U.S. Foodservice, Lloyd Hill, former CEO of Applebee's and Stuart Oran, former board member at Wendy's
Irish Government to run Hotels?
THREE LANDMARK London hotels, the Berkeley, Claridges and the Connaught, which are owned by financier Derek Quinlan's Maybourne Hotel Group, may end up being controlled by the National Asset Management Agency (Nama) within the next few months as the transfer of an initial €16 billion in loans nears completion.
According to well-placed sources, the first tranche of properties earmarked for Nama will also include five prestigious Irish hotels: the Shelbourne, the K-Club, the Ritz-Carlton hotel in Wicklow, and the Radisson and G Hotel in Galway. All these high-profile establishments are linked to the top 10 developers whose multi-billion-euro portfolios will form the first wave of €80 billion in loans being moved into the State's asset recovery agency.
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According to well-placed sources, the first tranche of properties earmarked for Nama will also include five prestigious Irish hotels: the Shelbourne, the K-Club, the Ritz-Carlton hotel in Wicklow, and the Radisson and G Hotel in Galway. All these high-profile establishments are linked to the top 10 developers whose multi-billion-euro portfolios will form the first wave of €80 billion in loans being moved into the State's asset recovery agency.
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