Boston, MA CBRE Hotels acted as exclusive advisor to Fairmont Hotels & Resorts in the sale of The Fairmont Copley Plaza, located on Copley Sq. in Back Bay. FelCor Lodging Trust Inc. has purchased a fee-simple interest in the famed hotel for $98.5 million and will implement a capital plan in excess of $20 million which includes an overall refreshing of guestrooms and public areas and the addition of a new fitness center.
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Thursday, September 9, 2010
Wyndham Hotels and Resorts Franchise Unveils Eco-Friendly Beverage Menu
PARSIPPANY, N.J. — Wyndham Hotels and Resorts, LLC today announced the introduction of a new eco-friendly beverage menu available beginning this month at North American and Caribbean properties across the brand's portfolio. Properties also will be able to customize the menu to include local and regional selections and offer promotions that allow customers to contribute to the environment.
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When it comes to getting an operating license Bangkok hotels say Phuket
PHUKET : Hundreds of hotels in Phuket are operating without licences, claiming the cost of getting one is far too high.
Officials have set up a working group to close the unlicensed establishments, deputy governor Niwit Arunrat said yesterday.
Government figures show that Phuket has 702 hotels with 42,684 rooms _ but only 273 of these hotels are licensed.
Mr Niwit said the hotels operating without licences violated building control and environmental laws and did not pay taxes.
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Officials have set up a working group to close the unlicensed establishments, deputy governor Niwit Arunrat said yesterday.
Government figures show that Phuket has 702 hotels with 42,684 rooms _ but only 273 of these hotels are licensed.
Mr Niwit said the hotels operating without licences violated building control and environmental laws and did not pay taxes.
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HEI Hospitality warns customers of data breach
HEI Hospitality, owner and operator of upscale hotels operating under the Marriott, Sheraton, Westin and other monikers, has sent letters informing some 3,400 customers that their credit card data may have been compromised.
The warning stems from an intrusion into point of sale systems at several HEI properties earlier this year, which could have allowed card holder data being to be illegally accessed, the company said in the letter.
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The warning stems from an intrusion into point of sale systems at several HEI properties earlier this year, which could have allowed card holder data being to be illegally accessed, the company said in the letter.
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Burger King buyer names rail exec as future CEO
NEW YORK (AP) -- Burger King's soon-to-be new owners have named a former Latin American railroad executive to be CEO of the fast-food chain after the $3.26 billion deal goes through.
The appointment of Bernardo Hees by 3G Capital is a signal that the investment firm is serious about expanding the Burger King brand further into Latin America and elsewhere abroad.
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The appointment of Bernardo Hees by 3G Capital is a signal that the investment firm is serious about expanding the Burger King brand further into Latin America and elsewhere abroad.
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Groups return to South Florida hotels
Slowly, and often at the last minute, the group hotel business that has been a mainstay of South Florida's visitor industry is creeping back.
But corporate meetings look a little less grand than they did in the pre-recession era. Gone are lengthy affairs packed with golf mornings, spa afternoons and lobster-and-champagne dinners. In their place: shorter meetings arranged with an eye toward cost-cutting and charitable activities to soften the image.
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But corporate meetings look a little less grand than they did in the pre-recession era. Gone are lengthy affairs packed with golf mornings, spa afternoons and lobster-and-champagne dinners. In their place: shorter meetings arranged with an eye toward cost-cutting and charitable activities to soften the image.
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Hotels Lure Investors as Lodging Surpasses U.S. Offices, Retail
Hotel purchases are increasing faster than deals for office buildings, shopping centers or any other type of U.S. commercial property as rising occupancies and room rates boost the lodging industry.
Sales of hotels jumped 136 percent in the first half of 2010 from a year earlier, the biggest gain among five commercial real estate categories tracked by New York-based Real Capital Analytics Inc. Those deals were based on transactions of at least $5 million and exclude hotels attached to casinos.
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Sales of hotels jumped 136 percent in the first half of 2010 from a year earlier, the biggest gain among five commercial real estate categories tracked by New York-based Real Capital Analytics Inc. Those deals were based on transactions of at least $5 million and exclude hotels attached to casinos.
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Wednesday, September 8, 2010
Prezzo profit rises on new restaurant launches
Reuters) - British pizza restaurant chain Prezzo Plc (PRZ.L) reported a 21 percent rise in first-half adjusted pretax profit, helped by new restaurants launches and improved margins, and said it was confident for the rest of the year.
The company, which opened seven new restaurants during the first half, said current trading was in line with expectations.
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The company, which opened seven new restaurants during the first half, said current trading was in line with expectations.
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Dancing Shrimp Off the Menu at California Restaurant. Lepricons still there
SACRAMENTO, Calif. — A Sacramento restaurant agreed to stop serving live shrimp after an animal-rights group said the practice was cruel to the shellfish.
People for the Ethical Treatment of Animals said the restaurant, Nishiki Sushi, suggested squeezing lemon juice on the shrimps' exposed flesh so they would writhe as they were eaten. The dish is commonly referred to as "dancing shrimp" and is considered a delicacy in Japan.
PETA contacted the restaurant after receiving dozens of complaints about the practice.
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Chinese chain Country Style Cooking files IPO
NEW YORK — Quick service Chinese company Country Style Cooking Restaurant Chain Co. Ltd. seeks to raise up to $100 million in an initial public offering.
The company did not specify the number of shares or the price in the filing it made Tuesday with the Securities and Exchange Commission.
The company, based in Yuzhong District of Chongqing in China's Sichuan province, has grown from nine restaurants in 2008 to 101 restaurants at the end of June. It operates all its own restaurants.
It said it plans to have more than 130 restaurants in China at the end of the year.
Revenues reached $72.9 million in 209 and were $48.1 million in the first half of this year.
The company did not specify the number of shares or the price in the filing it made Tuesday with the Securities and Exchange Commission.
The company, based in Yuzhong District of Chongqing in China's Sichuan province, has grown from nine restaurants in 2008 to 101 restaurants at the end of June. It operates all its own restaurants.
It said it plans to have more than 130 restaurants in China at the end of the year.
Revenues reached $72.9 million in 209 and were $48.1 million in the first half of this year.
Restaurant bans screaming kids; Business Booms!
The restraunteur says she got sick of customers complaining about parents who couldn't control their kids during meals, treating the restaurant like their personal playground, misbehaving and squawking.
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London's Savoy Hotel ready for reopening - $153M Over Budget
The Savoy’s general manager is hoping to achieve when the celebrated London hotel finally re-opens – two years late and £100 million over budget – on the 10th day of the 10th month 2010. With just over a month to go, Kieran MacDonald says its owner, Prince Alwaleed Bin Talal, is “aiming for perfection – and hopefully we’ll have it”.
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U.S. Hotel Market Posts Positive Results in August
MIAMI, FL) -- According to the latest industry report from Smith Travel Research (STR), the U.S. hotel industry reported increases in all three key performance measurements during the last week August 2010.
In year-over-year measurements, the industry's occupancy increased 10.6 percent to 60.1 percent. Average daily rate rose 2.4 percent to US$96.50. Revenue per available room increased 13.2 percent to US$57.98.
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In year-over-year measurements, the industry's occupancy increased 10.6 percent to 60.1 percent. Average daily rate rose 2.4 percent to US$96.50. Revenue per available room increased 13.2 percent to US$57.98.
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Marriott and Sheraton Niagara Falls sold
Niagara's DiCienzo family has picked up two of the best views of the Horseshoe Falls after buying the Marriott Fallsview and Sheraton Fallsview hotels last week.
"We've been looking for acquisitions for a little while. This move seemed to make sense," said Dino A. DiCienzo, one of four children of patriarch Dino DiCienzo Sr., now involved in the family business.
He wouldn't disclose how much his family paid to buy them from the family of Cosmo Menechella, another Falls family in the hotel business.
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"We've been looking for acquisitions for a little while. This move seemed to make sense," said Dino A. DiCienzo, one of four children of patriarch Dino DiCienzo Sr., now involved in the family business.
He wouldn't disclose how much his family paid to buy them from the family of Cosmo Menechella, another Falls family in the hotel business.
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JER Partners Announces the Sale of the Hilton College Station
MCLEAN, Va., Sept. 8 /PRNewswire/ -- JER Partners ("JER"), a private commercial real estate investment management company, announced today that the firm has sold the Hilton College Station, a 303-room full-service hotel located in College Station, TX, to an affiliate of Encore Enterprises. The buyer is expected to complete a comprehensive renovation of the hotel.
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