Restaurant Gordon Ramsay is toppled as London’s finest for food today in the 2011 Zagat guide, after two years at the top. The winner, the Ledbury, in Westbourne Park, only managed 13th place last year.
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Tuesday, September 14, 2010
Cracker Barrel Reports 15% Increase in Fourth Quarter EPS
Fourth Quarter Fiscal 2010
-- Fully diluted income per share from continuing operations of $1.14 ,an increase of 15.2%
-- Operating income margin was 7.4% of total revenue compared with 7.0% in the prior-year quarter
-- Comparable store restaurant and retail sales increased 2.0% and 2.6%, respectively
-- Comparable store restaurant traffic outpaced the Knapp-Track(TM) Traffic Index for the sixteenth consecutive quarter
-- Revenue increased 2.8% to $612.5 million
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-- Fully diluted income per share from continuing operations of $1.14 ,an increase of 15.2%
-- Operating income margin was 7.4% of total revenue compared with 7.0% in the prior-year quarter
-- Comparable store restaurant and retail sales increased 2.0% and 2.6%, respectively
-- Comparable store restaurant traffic outpaced the Knapp-Track(TM) Traffic Index for the sixteenth consecutive quarter
-- Revenue increased 2.8% to $612.5 million
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Delta Brunswick hotel workers back to work
The employees, member of United Steelworkers Local 1-306, returned to work on Sunday after overwhelmingly ratifying a new three-year collective agreement with complex owner Fortis Properties on Saturday.
The tentative deal had been struck during a bargaining session held Friday.
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The tentative deal had been struck during a bargaining session held Friday.
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Hotel investor Azure Properties is planning a £1bn hotel fund.
It is in talks with private equity groups to form a joint venture to set up the fund.
Azure, based in Luxembourg with offices in the UK and Germany, is committing around £100m in equity and is in talks to partner with three other private equity/real estate fund investors to raise a further £300m, which will then be leveraged to take the available funds to invest to £1bn.
Over the past few months Azure has been identifying and negotiating the acquisition of hotels, in the UK and across Europe, to be held in the fund.
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Azure, based in Luxembourg with offices in the UK and Germany, is committing around £100m in equity and is in talks to partner with three other private equity/real estate fund investors to raise a further £300m, which will then be leveraged to take the available funds to invest to £1bn.
Over the past few months Azure has been identifying and negotiating the acquisition of hotels, in the UK and across Europe, to be held in the fund.
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Reliable Internet connection is almost as important as a comfy hotel bed
Reliable broadband provision is a must-have in today’s hotel room and since the upgrade, the number of complaints has fallen dramatically and internet issues rarely come up. In fact, some guests are even commending the internet service offered by the hotel, which is having a knock-on effect on customer loyalty and repeat business.
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Landmark Plymouth hotel put up for sale for £2.25million
THE historic Boringdon Hall Hotel has been put on sale for £2.25million.
Agents marketing the Grade I-listed Elizabethan Manor House said owner Paul Chapman was selling the business because he was retiring.
Former Plymouth Argyle footballer Mr Chapman bought the hotel in 2004 with then business partner Joseph Louei.
But the pair underwent an acrimonious "business divorce" in 2007 and in May Mr Chapman was ordered to pay more than £100,000 to his former business partner after Mr Louei sued him.
Now Mr Chapman's Mountbatten-based firm Tudor Properties LLP has put the 41-bedroom Plympton hotel on the market.
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Former Plymouth Argyle footballer Mr Chapman bought the hotel in 2004 with then business partner Joseph Louei.
But the pair underwent an acrimonious "business divorce" in 2007 and in May Mr Chapman was ordered to pay more than £100,000 to his former business partner after Mr Louei sued him.
Now Mr Chapman's Mountbatten-based firm Tudor Properties LLP has put the 41-bedroom Plympton hotel on the market.
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Woman receives 3 Months in Jail for stealing towels from Hitlon
An Abuja Magistrate Court yesterday convicted one Bilikisu Dowodu and ordered her to pay N3,000 or spend three months in jail for stealing two towels and a laundry iron from Transcorp Hilton Hotel.
Bilikisu was nabbed by a security guard attached to the hotel with the stolen items as she tried to leave the hotel's gate.
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Bilikisu was nabbed by a security guard attached to the hotel with the stolen items as she tried to leave the hotel's gate.
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Hotel exec gets 40 months for embezzling $1.4M
For more than six years, Angela I. Borrelli used her position as an assistant corporate controller of a Philadelphia-based hotel-management company to steal almost $1.4 million from her employer.
Borrelli admitted yesterday in federal court that she stole money 182 times from June 7, 2001, to November 2007.
U.S. District Judge Legrome D. Davis sentenced Borrelli to 40 months in a federal lockup and ordered her to surrender to the Bureau of Prisons on Nov. 15.
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Borrelli admitted yesterday in federal court that she stole money 182 times from June 7, 2001, to November 2007.
U.S. District Judge Legrome D. Davis sentenced Borrelli to 40 months in a federal lockup and ordered her to surrender to the Bureau of Prisons on Nov. 15.
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Dubai hotels post 9% rise in guests
Dubai hospitality and tourism industries maintained its strong growth despite financial crisis as the number of hotel guests increased by nine per cent during the first half of this year.
Dubai Department of Tourism and Commerce Marketing said in on Monday that hotel revenues increased six per cent during the first half totalling Dh6.9 billion.
The statement said that the emirate saw a 16 per cent increase in rooms and seven per cent rise in the number of hotels, taking the total to 566.
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Dubai Department of Tourism and Commerce Marketing said in on Monday that hotel revenues increased six per cent during the first half totalling Dh6.9 billion.
The statement said that the emirate saw a 16 per cent increase in rooms and seven per cent rise in the number of hotels, taking the total to 566.
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Workers United loses case against Holiday Inn Express
COLONIE -- The regional office of the National Labor Relations Board has dismissed a host of charges brought against the Holiday Inn Express in Latham by a union trying to organize workers there.
Workers United Local 471 can appeal the decision to the acting general counsel of the NLRB in Washington, D.C., which it is expected to do by Sept. 24 unless it is granted an extension.
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Workers United Local 471 can appeal the decision to the acting general counsel of the NLRB in Washington, D.C., which it is expected to do by Sept. 24 unless it is granted an extension.
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New Hotel for Haiti
An Argentine energy and agribusiness entrepreneur on Monday announced plans with a Haiti-based business group to build a $33-million (U.S.), 240-room business hotel in the earthquake-ravaged Haitian capital.
The project for Haiti’s first airport hotel – scheduled to break ground in Port-au-Prince by the end of the year and be completed in 18 months – will be the first big new investment in the hospitality sector since the Jan. 12 earthquake that killed up to 300,000 people in the poor Caribbean nation.
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The project for Haiti’s first airport hotel – scheduled to break ground in Port-au-Prince by the end of the year and be completed in 18 months – will be the first big new investment in the hospitality sector since the Jan. 12 earthquake that killed up to 300,000 people in the poor Caribbean nation.
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Monday, September 13, 2010
Marriott to drop daily Internet fee at more hotels for VIPs
Marriott plans to join rivals such as Starwood, Hyatt and Hilton in dropping Internet-access charges in most full-service hotels for VIP customers.
As of Jan. 1, Marriott will drop the $10-to-$15 daily Internet fee for its gold- and platinum-level loyalty members at full-service Marriott-brand hotels outside North and South America, a company press release says. The announcement does not apply to stays at Marriott's most deluxe chain, Ritz-Carlton.
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As of Jan. 1, Marriott will drop the $10-to-$15 daily Internet fee for its gold- and platinum-level loyalty members at full-service Marriott-brand hotels outside North and South America, a company press release says. The announcement does not apply to stays at Marriott's most deluxe chain, Ritz-Carlton.
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Phil Falcone tries to buy Hooters Casino
Hedge fund bigwig Phil Falcone is bucking the odds in his bet to be the new owner of Hooters Casino Hotel, the Las Vegas venture launched in 2006 by founders of the popular restaurant chain.
Falcone, who runs the $8 billion New York hedge fund Harbinger Capital Management, bought the casino's troubled $130 million senior loan, putting him in a prime ownership position for when the casino seeks bankruptcy protection, sources tell The Post.
But there's a glitch: Falcone isn't allowed to own the casino.
The investment guru and avowed hockey nut -- who skated for Harvard in college -- made a mint shorting toxic mortgages in 2007 and used a small slice of that fortune to buy a 40 percent stake in the NHL's Minnesota Wild.
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Falcone, who runs the $8 billion New York hedge fund Harbinger Capital Management, bought the casino's troubled $130 million senior loan, putting him in a prime ownership position for when the casino seeks bankruptcy protection, sources tell The Post.
But there's a glitch: Falcone isn't allowed to own the casino.
The investment guru and avowed hockey nut -- who skated for Harvard in college -- made a mint shorting toxic mortgages in 2007 and used a small slice of that fortune to buy a 40 percent stake in the NHL's Minnesota Wild.
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Churchill Downs to Buy Harlow’s Casino Resort & Hotel for $138 Million
Churchill Downs (CHDN: 35.87 ,+0.49 ,+1.38%) said Monday it will buy Harlow’s Casino Resort & Hotel in Greenville, Mississippi for $138 million in an attempt to better diversify across its array of gaming businesses.
Harlow’s, which opened in November 2007, is currently owned by affiliates of private investment groups Levine Leichtman Capital Partners and Oak Hill Advisors, and private investor Jess M. Ravich.
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Harlow’s, which opened in November 2007, is currently owned by affiliates of private investment groups Levine Leichtman Capital Partners and Oak Hill Advisors, and private investor Jess M. Ravich.
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DiamondRock buys Hilton hotel in NY for $68.4M
DiamondRock Hospitality Co. said Monday that it purchased a Hilton hotel in New York for $68.4 million.
The real estate investment trust said it paid for the transaction with corporate cash.
The Hilton Garden Inn Chelsea New York City, which contains 169 rooms, opened in 2007.
DiamondRock CEO Mark Brugger said in a statement that the company wanted the hotel because the property has the "ability to charge essentially full-service room rates with a more profitable limited service cost structure as a result of its strong Hilton Garden Inn branding, access to Hilton Worldwide's powerful reservations system and traveler loyalty generated from the Hilton guest rewards program."
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The real estate investment trust said it paid for the transaction with corporate cash.
The Hilton Garden Inn Chelsea New York City, which contains 169 rooms, opened in 2007.
DiamondRock CEO Mark Brugger said in a statement that the company wanted the hotel because the property has the "ability to charge essentially full-service room rates with a more profitable limited service cost structure as a result of its strong Hilton Garden Inn branding, access to Hilton Worldwide's powerful reservations system and traveler loyalty generated from the Hilton guest rewards program."
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