This list was compiled by members and editors of TripAdvisor.
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Saturday, May 15, 2010
Jack in the Box Misses
Jack in the Box Inc. (JACK - Snapshot Report) posted fiscal 2010 second-quarter earnings of 32 cents per share recently. The company’s earnings came in behind both the Zacks Consensus Estimate of 40 cents per share as well as the year-ago result of 52 cents. The worse-than-expected result was primarily caused by sluggish sales and higher overheads.
San Diego-based Jack in the Box is a restaurant company that operates and franchises more than 2,200 Jack in the Box quick-service restaurants across 18 states. The company, through a wholly owned subsidiary, also operates and franchises Qdoba Mexican Grill fast-casual dining chain, with more than 500 restaurants in 43 states and the District of Columbia.
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San Diego-based Jack in the Box is a restaurant company that operates and franchises more than 2,200 Jack in the Box quick-service restaurants across 18 states. The company, through a wholly owned subsidiary, also operates and franchises Qdoba Mexican Grill fast-casual dining chain, with more than 500 restaurants in 43 states and the District of Columbia.
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Hooters Hotel loses $3.9 million, says bankruptcy still possible
The privately held Hooters hotel-casino in Las Vegas lost $3.9 million in the first quarter as revenue fell.
The loss was about even with the $4 million lost in the first quarter of 2009.
Net operating revenue of $11.3 million in the 2010 first quarter was down from $13.3 million in the year-ago quarter.
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The loss was about even with the $4 million lost in the first quarter of 2009.
Net operating revenue of $11.3 million in the 2010 first quarter was down from $13.3 million in the year-ago quarter.
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S. Fla. hotel occupancy continues to climb
Despite growing worry about the oil spill in the Gulf of Mexico impacting statewide tourism, occupancy at South Florida hotels rose again last week, according to Smith Travel Research.
For the week ended May 7, occupancy in Palm Beach County rose 13.7 percent, year-over-year. Occupancy in Broward County rose 7.8 percent. Occupancy in Miami-Dade rose 5.2 percent. Occupancy across the U.S. rose 6.4 percent.
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For the week ended May 7, occupancy in Palm Beach County rose 13.7 percent, year-over-year. Occupancy in Broward County rose 7.8 percent. Occupancy in Miami-Dade rose 5.2 percent. Occupancy across the U.S. rose 6.4 percent.
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Sonesta International Hotels Corp. Reports Operating Results
Business levels at the Company s owned and leased hotels improved during the first quarter of 2010 compared to the same quarter in 2009. Operating losses at Royal Sonesta Hotel Boston decreased from $1,513,000 in the first quarter of 2009 to $1,405,000 in the 2010 first quarter, a decrease of $108,000. Royal Sonesta New Orleans recorded operating income of $1,137,000 in the 2010 first quarter compared to $199,000 last year, representing an increase of $938,000. This increase was the result of a 12% revenue increase, and lower rent expense. Operating losses from management activities decreased by $270,000 to $883,000 in the 2010 first quarter, due to increased management income from the Company s hotels and ships in Egypt as well as increased franchise income. Interest expense decreased following the refinancing of the mortgage loan secured by Royal Sonesta Hotel Boston in February 2010. A detailed analysis of the revenues and income by location follows.
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Thursday, May 13, 2010
Extended Stay Has ‘Number of Bidders’ Before Auction
May 13 (Bloomberg) -- Extended Stay Hotels Inc. is talking to a “number of interested bidders” as it prepares for an auction of its assets later this month, the hotel chain’s lawyer said.
Jacqueline Marcus, Extended Stay’s bankruptcy lawyer, said today at a court hearing that the company has heard from “various parties” that are interested in making investment proposals for the company
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Jacqueline Marcus, Extended Stay’s bankruptcy lawyer, said today at a court hearing that the company has heard from “various parties” that are interested in making investment proposals for the company
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Strategic Hotels to conduct public offering
Strategic Hotels & Resorts Inc. said Monday it plans to make a public offering of 40 million shares of its common stock with an option to purchase up to 6 million more shares to cover overallotments. The real estate investment trust, which owns interests in 17 properties, plans to use the proceeds to fund its offer for its senior notes and for general corporate purposes. Shares of Strategic Hotels fell 74 cents, or 12 percent, to $5.19 in midday trading.
Manhattan doormen demanding bribes from taxis
Hotel doormen across Manhattan are shaking down yellow cabbies for bribes of up to $15 before allowing them to transport guests to local airports, taxi officials told The Post.
Drivers who refuse to pay are blacklisted.
The rampant practice has sparked a Taxi and Limousine Commission investigation — and earned the ire of furious drivers.
"This stuff goes on day in and day out at hotels all over Midtown," said David Pollack, a former driver and director of the Committee for Taxi Safety. "It’s never happened as much as it is now. Everyone’s hurting for money and no one is stopping it."
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Drivers who refuse to pay are blacklisted.
The rampant practice has sparked a Taxi and Limousine Commission investigation — and earned the ire of furious drivers.
"This stuff goes on day in and day out at hotels all over Midtown," said David Pollack, a former driver and director of the Committee for Taxi Safety. "It’s never happened as much as it is now. Everyone’s hurting for money and no one is stopping it."
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Nashville lands Loews Hotels services center with 200 jobs
The New York-based company has leased 40,000 square feet of space in the Fifth Third Center for the shared services center, which it plans to open in September.
Nashville was among four U.S. cities that made a final cut for the project from an initial list of 10. Loews plans to centralize tasks such as accounting, payroll and purchasing in the new office space.
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Nashville was among four U.S. cities that made a final cut for the project from an initial list of 10. Loews plans to centralize tasks such as accounting, payroll and purchasing in the new office space.
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Banks Embrace ‘Extend and Pretend’ as U.S. Hotels Await Rebound
May 13 (Bloomberg) -- A year ago, Sam Nazarian was concerned bankers wouldn’t rework the mortgage on his SLS Hotel at Beverly Hills after the recession cut occupancy and the luxury property lost money.
“There was a point in time when getting a lender on the phone to talk restructuring was very challenging,” said the Los Angeles nightclub owner and hotelier, who has played himself on the HBO series “Entourage” and has a house next to actor Leonardo DiCaprio’s in the Hollywood Hills
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“There was a point in time when getting a lender on the phone to talk restructuring was very challenging,” said the Los Angeles nightclub owner and hotelier, who has played himself on the HBO series “Entourage” and has a house next to actor Leonardo DiCaprio’s in the Hollywood Hills
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New Wyndham Hotel Opens in Heart of Miami's South Beach
PARSIPPANY, NJ, May 13, 2010 (MARKETWIRE via COMTEX) -- Wyndham Hotels and Resorts, a subsidiary of Wyndham Worldwide Corporation /quotes/comstock/13*!wyn/quotes/nls/wyn (WYN 25.60, -0.62, -2.37%) , today announced its continued expansion in Florida with the opening of the 133-room-and-suite Wyndham Garden(R) Hotel Miami South Beach.
The newly-renovated Wyndham Garden Hotel Miami South Beach, located in South Beach's entertainment district at 1050 Washington Avenue, is just a short drive from Miami International Airport and the Port of Miami and walking distance to the Miami Beach Convention Center. For beach-goers, the hotel sits only two blocks from Miami's white sand beaches.
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The newly-renovated Wyndham Garden Hotel Miami South Beach, located in South Beach's entertainment district at 1050 Washington Avenue, is just a short drive from Miami International Airport and the Port of Miami and walking distance to the Miami Beach Convention Center. For beach-goers, the hotel sits only two blocks from Miami's white sand beaches.
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Wednesday, May 12, 2010
Papa John's global president Mitchell resigns
(May 12, 2010) Papa John’s International Inc. said chief financial officer David Flanery would oversee the company’s global operations on an interim basis following the resignation of its president of global operations, William M. Mitchell.
In filing made Tuesday with the Securities and Exchange Commission, Papa John's said Mitchell had resigned April 29 and that it had agreed to pay him $463,906 in severance.
Jude Thompson, Papa John’s president who recently was promoted to co-chief executive, informed investors of Mitchell’s resignation during the company’s most recent earnings conference call.
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In filing made Tuesday with the Securities and Exchange Commission, Papa John's said Mitchell had resigned April 29 and that it had agreed to pay him $463,906 in severance.
Jude Thompson, Papa John’s president who recently was promoted to co-chief executive, informed investors of Mitchell’s resignation during the company’s most recent earnings conference call.
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Clearview To Raise $375M For Hotel Buys
May 11 (Reuters) - Clearview Hotel Trust Inc filed with U.S. regulators on Tuesday to raise up to $375 million in an initial public offering of common stock. The California-based company told the U.S Securities and Exchange Commission in a preliminary prospectus that BofA Merrill Lynch, Citi, Deutsche Bank Securities and UBS Investment Bank were underwriting the IPO. The company is a real estate investment trust with a portfolio of mainly upscale full service hotel properties in the United States. The company had revenue of $142.6 million in 2009, the filing showed. The filing did not reveal how many shares the company planned to sell or their expected price.
Carlson picks tony address for first U.S. Radisson Blu luxury hotel
Carlson will spend $125 million for the tony address, making it one of the priciest hotel buys yet as hotel investors seek distressed properties. With credit markets still tight, Carlson is paying half the amount in cash, the AP story says.
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