The Fertitta family may well end up running the Station Casinos empire it founded, even after putting more than $6 billion in debt onto the company in 2007 as the economy worsened and sending it into bankruptcy.
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Sunday, August 15, 2010
Paris' "magnificent seven" hotels see return of the super-rich
The top Paris hotels have long regarded themselves as a leading indicator of the financial health of the world's estimated 10 million millionaires, and in 2008, after the start of the world banking crisis, they feared the worst as occupancy slumped, with some suites standing empty for days at a time. Even the super-wealthy contented themselves with an "ordinary" room at the Ritz or George V at about €700 (£575) a night.
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Sol Melia opens in Atalnta
A Spanish hospitality firm that is a major player in Europe, Latin America and the Caribbean plans to put its first U.S. flag in Atlanta.
Sol Meliá Hotels & Resorts will take over the management and flag of the 502-room Renaissance Atlanta Hotel Downtown.
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Sol Meliá Hotels & Resorts will take over the management and flag of the 502-room Renaissance Atlanta Hotel Downtown.
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Marriott International announces leadership positions for Asia Pacific, Middle East and Africa
Marriott International has announced further steps in the company's global strategy to establish continental divisions in Asia Pacific and the Middle East and Africa with two key leadership appointments. Simon F. Cooper has been named President & Managing Director, Asia Pacific, and will be responsible for leading the operating performance and growth of the region which includes more than 130 properties and 70 hotels under development represented by The Ritz-Carlton, JW Marriott, Marriott, Renaissance, Courtyard and Marriott Executive Apartments brands.
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Red Robin Gourmet Burgers Reports Earnings for the Fiscal Second Quarter 2010
Financial and Operational Results
Results for the 12 weeks ended July 11, 2010, compared to the 12 weeks ended July 12, 2009, are as follows:
Restaurant revenue of $198.0 million was unchanged from the prior year.
Company-owned comparable restaurant sales decreased 1.2% and guest counts increased 0.9%. Restaurant-level operating profit decreased 7.0% to $36.2 million.
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Results for the 12 weeks ended July 11, 2010, compared to the 12 weeks ended July 12, 2009, are as follows:
Restaurant revenue of $198.0 million was unchanged from the prior year.
Company-owned comparable restaurant sales decreased 1.2% and guest counts increased 0.9%. Restaurant-level operating profit decreased 7.0% to $36.2 million.
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Ark Restaurants Announces Financial Results for the Third Quarter 2010
NEW YORK, New York -- August 13, 2010 -- Ark Restaurants Corp. (NASDAQ:ARKR) today reported financial results for the third quarter and nine month periods ended July 3, 2010.
Total revenues for the three month period ended July 3, 2010 were $35.2 million versus $31.1 million in the same period last year. Total revenues for the nine month period ended July 3, 2010 were $85.9 million versus $81.7 million in the same period last year.
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Total revenues for the three month period ended July 3, 2010 were $35.2 million versus $31.1 million in the same period last year. Total revenues for the nine month period ended July 3, 2010 were $85.9 million versus $81.7 million in the same period last year.
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J. Alexander annonces results for second quarter 2010
• Net sales increased 4.7% to $36,336,000 from $34,710,000.
● Average weekly same store sales per restaurant advanced 4.7%.
• The loss before income taxes was $357,000 compared to a loss before income taxes of $1,431,000 in the second quarter of 2009.
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● Average weekly same store sales per restaurant advanced 4.7%.
• The loss before income taxes was $357,000 compared to a loss before income taxes of $1,431,000 in the second quarter of 2009.
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Sbarro, Inc. Announces Results of Operations for the Second Quarter and Six Months Ended June 27, 2010
MELVILLE, N.Y.--(BUSINESS WIRE)--Sbarro, Inc. (the “Company”) announced results of operations for the second quarter and six months ended June 27, 2010. The Company’s detailed results are included in its Quarterly Report on Form 10-Q, which was filed with the SEC on August 11, 2010. Second Quarter Financial Results Revenues were $76.1 million for the quarter ended June 27, 2010 as compared to revenues of $80.1 million for the quarter ended June 28, 2009.
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Saturday, August 14, 2010
WePay Wants to Simplify Group Payments
The hardest part of helping organize my coming high school reunion — aside from devising ways to break the ice with old crushes and rivals — is collecting money from the alumni for tickets.
A new start-up in Palo Alto called WePay, is hoping to solve that problem by making it much easier to accept payments from a large group of people.
The company allows users to set up group accounts on the Web site for a specific purpose or event, such as collecting money from a large outing like a bachelor party to divvying up living expenses among roommates. The administrator of the group can set the amount, due date and other details and send out a bill, or request for payment.
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A new start-up in Palo Alto called WePay, is hoping to solve that problem by making it much easier to accept payments from a large group of people.
The company allows users to set up group accounts on the Web site for a specific purpose or event, such as collecting money from a large outing like a bachelor party to divvying up living expenses among roommates. The administrator of the group can set the amount, due date and other details and send out a bill, or request for payment.
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Thursday, August 12, 2010
New York’s Only Landmarked Arby’s Calls It Quits
It was hailed as the most beautiful Arby’s in the world, but perhaps it was just too lovely to last. The fast-food chain restaurant that opened January within the landmarked location of Gage & Tollner, once one of the Brooklyn’s most venerable eateries, has closed down.
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Frequent diner faked seizures to skip out of restaurant bills
He ate buffalo wings and drank nine Blue Moon drafts at Burke's Cafe. At Shucker's, he washed down a pound of steamed shrimp with three glasses of Tanqueray Gin, two Coronas, a Heineken and a Johnny Walker Black Label scotch.
Day after day, year after year, Andrew Palmer dined at restaurants all over Baltimore and beyond, including Anne Arundel, Baltimore and St. Mary's counties. He even traveled as far south as Florida and sampled restaurants there.
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Day after day, year after year, Andrew Palmer dined at restaurants all over Baltimore and beyond, including Anne Arundel, Baltimore and St. Mary's counties. He even traveled as far south as Florida and sampled restaurants there.
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Wendy's/Arby's Net Falls 28% as Sales Decline
Wendy's/Arby's Group Inc.'s second-quarter earnings fell 28% with same-store sales at both Wendy's and Arby's declining.
The company plans to combat the decline by focusing on lower prices. Wendy's will market Frosty desserts and spicy chicken nuggets for 99 cents each, in part to coincide with the back-to-school period where consumers are more frugal.
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The company plans to combat the decline by focusing on lower prices. Wendy's will market Frosty desserts and spicy chicken nuggets for 99 cents each, in part to coincide with the back-to-school period where consumers are more frugal.
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Brazil: boom-time for hotels
Armed with expanding credit and rising incomes, Brazilians are spending more – and that includes on travel. Demand for domestic flights surged in the first half of 2010, while hotel rates are also up.
“More and more Brazilians are travelling and spending money on hotels”, Ricardo Mader, executive vice president of Jones Lang LaSalle Hotels, an investment services group, told beyondbrics.
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“More and more Brazilians are travelling and spending money on hotels”, Ricardo Mader, executive vice president of Jones Lang LaSalle Hotels, an investment services group, told beyondbrics.
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Federal stimulus revives $130M Mall of America hotel plan
BLOOMINGTON, Minn. — The federal stimulus package is allowing the Mall of America to revive its long-delayed plan for an upscale $130 million hotel.
The 2009 federal stimulus bill made tax-exempt bonding authority available to Hennepin County for qualified construction projects that can get under way quickly. The Bloomington Port Authority wants to issue $40.3 million in tax-exempt bonds for the project.
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The 2009 federal stimulus bill made tax-exempt bonding authority available to Hennepin County for qualified construction projects that can get under way quickly. The Bloomington Port Authority wants to issue $40.3 million in tax-exempt bonds for the project.
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Owner of Tibets Yak Hotel get life in prison
BEIJING — One of Tibet's richest businessmen has been sentenced to life in prison for helping exile groups, a human rights organization said Thursday, the latest case in a surprising crackdown on well-known Tibetans once praised by Chinese authorities.
Dorje Tashi was sentenced on June 26 in Lhasa, the Tibetan capital, said Urgen Tenzin, director of the India-based Tibetan Center for Human Rights and Democracy.
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Dorje Tashi was sentenced on June 26 in Lhasa, the Tibetan capital, said Urgen Tenzin, director of the India-based Tibetan Center for Human Rights and Democracy.
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