OAK BROOK, Ill., April 21, 2010 /PRNewswire via COMTEX/ --McDonald's Corporation (NYSE: MCD) today announced strong results for the first quarter driven by all areas of the world.
"McDonald's compelling menu, unmatched convenience and unbeatable value generated another strong quarterly performance," said Chief Executive Officer Jim Skinner. "For the first quarter, we delivered comparable sales and guest count growth in each geographic segment along with global double-digit operating income growth. As we move forward, we will continue to pursue opportunities to extend our relevance, sustain our momentum and create ongoing excitement for our customers."
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Wednesday, April 21, 2010
Biden Receives Lifetime Ban From Dave & Buster's
Humor from the Onion.com
DALLAS—Following dozens of complaints from waitstaff and numerous incidents of property damage over the past 10 years, representatives from the Dave & Buster's corporation, a bar-restaurant chain offering a wide variety of arcade games, announced today that Vice President Joe Biden has been permanently banned from all 55 locations nationwide.
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DALLAS—Following dozens of complaints from waitstaff and numerous incidents of property damage over the past 10 years, representatives from the Dave & Buster's corporation, a bar-restaurant chain offering a wide variety of arcade games, announced today that Vice President Joe Biden has been permanently banned from all 55 locations nationwide.
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Tuesday, April 20, 2010
Burger King accuses pub over Whopper
The privately-owned Country Park Inn’s Riverside Bar in Hessle received a legal letter from Burger King 10 days ago, stating that the venue’s “Whopper” burgers were an infringement on the firm’s registered trademark.
“It’s a bit bizarre,” said events and marketing manager Jason McDaid. “We’ve had the burger on the menu for a few years now, and Burger King said if we didn’t take it off within 14 days they would seek to claim back everything we’d made on it.”
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“It’s a bit bizarre,” said events and marketing manager Jason McDaid. “We’ve had the burger on the menu for a few years now, and Burger King said if we didn’t take it off within 14 days they would seek to claim back everything we’d made on it.”
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Accor First-quarter 2010 revenue up 3.1% as reported and
Initial encouraging trends observed in late fourth-quarter 2009 remain in effect:
· Prepaid Services revenue down 0.4% like-for-like, reflecting a 3.8% increase in
operating revenue and a 29.5% decline in financial revenue.
· Revenue from Hotels and Other Businesses up 0.8% like-for-like, of which a 1.6% gain
for Hotels, with signs of improvement, especially in occupancy rates, which rose in
Upscale and Midscale hotels and stabilized in the Economy segment in Europe.
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· Prepaid Services revenue down 0.4% like-for-like, reflecting a 3.8% increase in
operating revenue and a 29.5% decline in financial revenue.
· Revenue from Hotels and Other Businesses up 0.8% like-for-like, of which a 1.6% gain
for Hotels, with signs of improvement, especially in occupancy rates, which rose in
Upscale and Midscale hotels and stabilized in the Economy segment in Europe.
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Monday, April 19, 2010
Owner drained hundreds of millions from Buffets Holdings, suit alleges
Restaurant operator Buffets Holdings wants more than $39 million in fees back from its former owner, saying in a new federal lawsuit that private equity firm drained cash from the company as it struggled to remain solvent.
According to the suit, filed in Minneapolis' U.S. District Court Thursday by the court-appointed bankruptcy trustee for Eagan-based Buffets Holdings, the New York-based Caxton-Iseman took the unnecessary advisory and transaction fees and more than $225 million in dividend recapitalizations that left the Old Country Buffet operator with more debt than it could stomach.
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According to the suit, filed in Minneapolis' U.S. District Court Thursday by the court-appointed bankruptcy trustee for Eagan-based Buffets Holdings, the New York-based Caxton-Iseman took the unnecessary advisory and transaction fees and more than $225 million in dividend recapitalizations that left the Old Country Buffet operator with more debt than it could stomach.
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Key lenders agree to Station Casinos reorganization plan
Station Casinos Inc. of Las Vegas today said certain creditors have agreed to support a plan in which the Fertitta family, Colony Capital and key lenders would control the entire company.
The Fertittas and Colony earlier agreed to take an ownership stake in four big hotel-casinos that are being foreclosed on by lenders. Those properties are called the PropCo properties and are Red Rock Resort, Sunset Station, Boulder Station and Palace Station
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The Fertittas and Colony earlier agreed to take an ownership stake in four big hotel-casinos that are being foreclosed on by lenders. Those properties are called the PropCo properties and are Red Rock Resort, Sunset Station, Boulder Station and Palace Station
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Oceanaire to be bought by Landry's Restaurants
Landry’s Restaurants Inc. has agreed to buy The Oceanaire Inc. upscale seafood chain out of bankruptcy.
Houston-based Landry’s (NYSE: LNY) would pay Oceanaire’s creditors $6.6 million — or roughly “80 cents on the dollar,” according to Oceanaire CEO Terry Ryan — and take on approximately $17 million in remaining debt. A U.S. Bankruptcy Court will rule next week on whether the sale can proceed.
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Houston-based Landry’s (NYSE: LNY) would pay Oceanaire’s creditors $6.6 million — or roughly “80 cents on the dollar,” according to Oceanaire CEO Terry Ryan — and take on approximately $17 million in remaining debt. A U.S. Bankruptcy Court will rule next week on whether the sale can proceed.
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Busch Gardens Best Western seeks bankruptcy protection
A massive decline in revenue and struggles in the tourism industry has led a franchised Best Western hotel near Busch Gardens to seek bankruptcy reorganization.
Surya Hospitality LLC, owner of Best Western All Suites at 3001 University Center Drive just outside of Temple Terrace, filed for Chapter 11 bankruptcy protection with the U.S. Bankruptcy Court’s Middle District of Florida April 9, claiming assets and liabilities of up to $10 million.
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Surya Hospitality LLC, owner of Best Western All Suites at 3001 University Center Drive just outside of Temple Terrace, filed for Chapter 11 bankruptcy protection with the U.S. Bankruptcy Court’s Middle District of Florida April 9, claiming assets and liabilities of up to $10 million.
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Best Western aims for more consistency with rebranding
The owners of Best Western hotels have approved a plan that will create three levels for the brand's more than 4,000 properties.
CEO David Kong said 55% of hotel owners approved the plan, which was presented to them at last year's annual meeting.
Under the plan, Best Westerns that have a Two Diamond rating from AAA will remain Best Western, Three Diamond properties will be renamed Best Western Plus and Four Diamond properties will become Best Western Premier — an upper tier that is already in place in Europe and Asia.
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CEO David Kong said 55% of hotel owners approved the plan, which was presented to them at last year's annual meeting.
Under the plan, Best Westerns that have a Two Diamond rating from AAA will remain Best Western, Three Diamond properties will be renamed Best Western Plus and Four Diamond properties will become Best Western Premier — an upper tier that is already in place in Europe and Asia.
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Morgan Stanley warns of $5.4bn property losses
Morgan Stanley has warned investors that an $8.8bn property fund could face the worst losses in real estate private equity history owing to the fall in value of investments made at the peak of the market.
Msref (Morgan Stanley Real Estate Fund) VI International could lose as much as $5.4bn, having been forced to take writedowns or hand back the keys on a range of investments round the world.
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Msref (Morgan Stanley Real Estate Fund) VI International could lose as much as $5.4bn, having been forced to take writedowns or hand back the keys on a range of investments round the world.
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Carlson selling Regent luxury hotel business
Carlson Cos. and The Rezidor Hotel Group, based in Brussels, Belgium, have agreed to sell the Regent luxury hotel business to Formosa International Hotels Corp., based in Taipai, Taiwan.
The deal, announced in a press release Friday, includes the Regent brand, the hotel management and leasing contracts for all hotel properties and the Regent Seven Seas Cruise license.
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The deal, announced in a press release Friday, includes the Regent brand, the hotel management and leasing contracts for all hotel properties and the Regent Seven Seas Cruise license.
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Sunday, April 18, 2010
Trump Hotels
Trump is betting he can do for hotels what he has done for skyscrapers, casinos, reality TV and the wedding industry. He wants his family to be the new first family of inn-keeping. And why not? Trump is a match for the likes of Rocco Forte, and Ivanka can comfortably out-Paris Paris Hilton. In Paris. In 10 years’ time, if the Trumps get their way, there will be a giant “T” atop a stylish, modern Trump hotel in every big city. “We want to spread it globally,” Trump says, with an “I’ve made it here, so I can make it anywhere” grin. “We’re looking at 50 cities.”
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Saturday, April 17, 2010
French hoteliers sue US travel site Expedia
A French hoteliers' union on Thursday said it was filing a case against the Internet-based travel company Expedia and its websites Tripadvisor and Hotels.com in a Paris court, accusing them of "unfair commercial practices."
Tripadvisor offers commentary on hotels while Expedia and Hotels.com arrange reservations.
Didier Chenet, head of the Synhorcat union, said smaller French hotel owners were "attacking some of their practices," notably regarding alternative booking procedures and advertised offers that do not exist in reality.
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Tripadvisor offers commentary on hotels while Expedia and Hotels.com arrange reservations.
Didier Chenet, head of the Synhorcat union, said smaller French hotel owners were "attacking some of their practices," notably regarding alternative booking procedures and advertised offers that do not exist in reality.
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Massachusetts passes Gambling Bill
Casino and racetrack operators yesterday began to angle for one of the gambling licenses just approved by the Massachusetts House, promising to spend hundreds of millions of dollars building gambling complexes that would provide hundreds of new jobs.
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Lawsuit filed against CityCenter over Vdara condo-hotel units
A California man who put down a deposit to buy a condo-hotel unit at Vdara filed a class-action lawsuit Friday against MGM Mirage's CityCenter, alleging developers unlawfully sold the units as securities without providing investors details on what they were buying.
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