CHONGQING, July 23 (Xinhua) - Police in southwest China's Chongqing Municipality arrested 46 people involved in a mafia-style gang, including a major shareholder of the local Hilton Hotel that was recently targeted by police because of its involvement in prostitution. Two government officials were also arrested.
Peng Zhimin, 47, owner of Qinglong Property Development Co., was arrested on multiple charges including allegedly managing a mafia-style organization, organizing prostitution, crimes of intentional injury, illegal occupation of farmland, and bribery, according to a statement emailed to Xinhua by the municipal public security bureau.
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Saturday, July 24, 2010
Castle-led group buys Hilo Hawaiian for $17.3M
The Hilo Hawaiian Hotel on the Big Island was sold yesterday for $17.3 million to a group of local investors led by Castle Resorts & Hotels.
The sale marks the first time in 20 years that the hotel has been under local ownership.
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The sale marks the first time in 20 years that the hotel has been under local ownership.
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DineEquity sells 63 Applebee's locations for $32M
GLENDALE, Calif. (AP) -- DineEquity Inc., which owns Applebee's Neighborhood Grill & Bar and IHOP restaurants, said Friday it agreed to sell 63 company-operated restaurants to its largest franchisee, Apple American Group LLC, for $32 million.
The restaurants are in Minnesota and Wisconsin.
Closing is subject to regulatory processes related to liquor license transfers and other closing conditions.
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The restaurants are in Minnesota and Wisconsin.
Closing is subject to regulatory processes related to liquor license transfers and other closing conditions.
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Governor signs Illegal Hotels Bill
NEW YORK - Tenants and tourists in New York City will be protected by a new law that makes it clear that operating a residential apartment as a transient hotel is illegal in New York City. The bill, sponsored by State Senator Liz Krueger and Assembly Member Richard N. Gottfried, will put an end to the rampant spread of illegal hotels by clarifying ambiguities in State and City laws which made it impossible for government agencies to effectively crack down on offenders and protect residents. Governor Paterson signed the bill into law today.
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Friday, July 23, 2010
McDonald's Global Sales Drive Second Quarter Earnings Up 15%
OAK BROOK, Ill., July 23 /PRNewswire-FirstCall/ -- McDonald's Corporation today announced strong results for the second quarter driven by all areas of the world.
"McDonald's second quarter reflects strong top-line and bottom-line results with each area of the world generating higher comparable sales, traffic and profits," said Chief Executive Officer Jim Skinner. "This performance demonstrates the popular appeal of McDonald's relevant menu choices. We're delivering great tasting food to our 60 million customers around the world every day with the outstanding value and unmatched convenience they expect from McDonald's."
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"McDonald's second quarter reflects strong top-line and bottom-line results with each area of the world generating higher comparable sales, traffic and profits," said Chief Executive Officer Jim Skinner. "This performance demonstrates the popular appeal of McDonald's relevant menu choices. We're delivering great tasting food to our 60 million customers around the world every day with the outstanding value and unmatched convenience they expect from McDonald's."
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Thursday, July 22, 2010
The Cheesecake Factory Reports Results for Second Quarter of Fiscal 2010
CALABASAS HILLS, Calif.--(BUSINESS WIRE)--The Cheesecake Factory Incorporated (NASDAQ: CAKE - News) today reported financial results for the second quarter of fiscal 2010, which ended on June 29, 2010. Total revenues were $418.9 million in the second quarter of fiscal 2010 as compared to $407.9 million in the prior year second quarter. Net income and diluted net income per share were $19.2 million and $0.32, respectively.
In the second quarter of fiscal 2010, the Company made a $7.4 million, pre-tax payment to unwind the remaining $100 million interest rate collar on its revolving credit facility balance. This reduced reported diluted net income per share by approximately $0.07. Excluding this item, net income was $23.7 million and diluted net income per share was $0.39.
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In the second quarter of fiscal 2010, the Company made a $7.4 million, pre-tax payment to unwind the remaining $100 million interest rate collar on its revolving credit facility balance. This reduced reported diluted net income per share by approximately $0.07. Excluding this item, net income was $23.7 million and diluted net income per share was $0.39.
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Chipotle Mexican Grill, Inc. Announces Second Quarter 2010 Results
DENVER--(BUSINESS WIRE)--Chipotle Mexican Grill, Inc. (NYSE: CMG - News) today reported financial results for its second quarter ended June 30, 2010.
Highlights for the second quarter of 2010 as compared to the second quarter of 2009 include:
Revenue increased 20.1% to $466.8 million
Comparable restaurant sales increased 8.7%
Restaurant level operating margin was 26.9%, an increase of 90 basis points
Net income was $46.5 million, an increase of 31.3%
Diluted earnings per share was $1.46, an increase of 32.7%
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Highlights for the second quarter of 2010 as compared to the second quarter of 2009 include:
Revenue increased 20.1% to $466.8 million
Comparable restaurant sales increased 8.7%
Restaurant level operating margin was 26.9%, an increase of 90 basis points
Net income was $46.5 million, an increase of 31.3%
Diluted earnings per share was $1.46, an increase of 32.7%
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BJ's Restaurants, Inc. Reports Financial Results for the Second Quarter of Fiscal 2010
HUNTINGTON BEACH, Calif., July 22, 2010 (GLOBE NEWSWIRE) -- BJ's Restaurants, Inc. (Nasdaq:BJRI - News) today reported financial results for the second quarter of fiscal 2010 that ended on Tuesday, June 29, 2010.
Highlights for the second quarter compared to the same quarter last year were as follows:
Total revenues increased 21% to $130.5 million
Comparable restaurant sales increased 5.3%
Net income increased 44% to $6.3 million
Diluted net income per share increased 44% to $0.23
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Highlights for the second quarter compared to the same quarter last year were as follows:
Total revenues increased 21% to $130.5 million
Comparable restaurant sales increased 5.3%
Net income increased 44% to $6.3 million
Diluted net income per share increased 44% to $0.23
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Ruby Tuesday, Inc. Reports Fourth Quarter and Annual Fiscal 2010 Results
MARYVILLE, Tenn.--(BUSINESS WIRE)--Ruby Tuesday, Inc. today reported diluted earnings per share of $0.33 on net income of $21.0 million for the Company’s fourth quarter of fiscal 2010, which ended on June 1, 2010. This compares to diluted earnings per share of $0.28 on net income of $14.4 million for the fourth quarter of the prior fiscal year. The fourth quarter fiscal 2010 results represent a 45% improvement in net income over the prior year quarter.
Same-restaurant sales for the fourth quarter increased 0.3% at Company-owned Ruby Tuesday restaurants and decreased by 0.5% for domestic franchised restaurants. The gap between franchise and Company-owned same-restaurant sales narrowed as the franchisees participated in virtually all promotional incentive programs during the quarter
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Same-restaurant sales for the fourth quarter increased 0.3% at Company-owned Ruby Tuesday restaurants and decreased by 0.5% for domestic franchised restaurants. The gap between franchise and Company-owned same-restaurant sales narrowed as the franchisees participated in virtually all promotional incentive programs during the quarter
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PR gov't to help finance $1.2B Ritz-Carlton resort
Puerto Rico's government announced Wednesday it will help finance a $1.2 billion resort on the U.S. island's north coast, the biggest hotel project in two years for a region hit hard by the world economic crisis.
The Ritz-Carlton Reserve Dorado Beach Resort & Spa is to be the island's first six-star resort.
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The Ritz-Carlton Reserve Dorado Beach Resort & Spa is to be the island's first six-star resort.
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Wyndham settles tax liabilities with IRS for $145M
PARSIPPANY, N.J.—Lodging company Wyndham Worldwide Corp. said Wednesday it expects to pay $145 million in the third quarter to the Internal Revenue Service to resolve certain tax liabilities.
The settlement is the result of an audit of Wyndham's former parent company, Cendant Corp., for federal income tax returns for 2003 through 2006. Wyndham was included on Cendant's tax returns before it was spun off in August 2006.
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The settlement is the result of an audit of Wyndham's former parent company, Cendant Corp., for federal income tax returns for 2003 through 2006. Wyndham was included on Cendant's tax returns before it was spun off in August 2006.
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Vendor That Inspired Seinfeld's Soup Nazi Reopens Restaurant in NYC
Just don’t make him angry.
New York restaurateur and soup-slinger Al Yeganeh, best known for inspiring the Soup Nazi character on Seinfeld (“No soup for you!”), reopened his New York location, MSNBC reports.
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New York restaurateur and soup-slinger Al Yeganeh, best known for inspiring the Soup Nazi character on Seinfeld (“No soup for you!”), reopened his New York location, MSNBC reports.
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Challenge ahead for Biltmore Hotel: profitability vs. upkeep
Over the past 17 years, the Biltmore Hotel has spent more than $9 million to repair the roof and hotel balconies, nearly $8 million to renovate the guest rooms and more than $3 million to expand its fitness center and build a luxury spa on the hotel's seventh floor.
It's all part of running a national historic landmark and luxury hotel, says Seaway Corp., the company that leases the property and golf course from the owner, the city of Coral Gables.
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It's all part of running a national historic landmark and luxury hotel, says Seaway Corp., the company that leases the property and golf course from the owner, the city of Coral Gables.
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Gucci Stops Founder’s Descendant Using Name for Dubai Hotel
July 22 (Bloomberg) -- Gucci, the luxury-goods company owned by PPR SA, said it won an injunction preventing unauthorized use of the Elisabetta Gucci name, thwarting plans by the great-granddaughter of the founder to open a chain of hotels under her moniker.
The use of Elisabetta Gucci’s name “has caused customer confusion and has been harmful to Gucci’s business,” the company said in an e-mail today that was confirmed by a spokeswoman. The ruling by a Florence court “will hopefully act as a significant deterrent for those who intend to unlawfully license or commercially exploit the Gucci trademarks.”
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The use of Elisabetta Gucci’s name “has caused customer confusion and has been harmful to Gucci’s business,” the company said in an e-mail today that was confirmed by a spokeswoman. The ruling by a Florence court “will hopefully act as a significant deterrent for those who intend to unlawfully license or commercially exploit the Gucci trademarks.”
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Union to protest today at Hyatt hotels
(Crain’s) — Aiming to ratchet up the pressure on Hyatt Hotels Corp. and gain an edge in labor contract talks, union activists plan protests Thursday at Hyatt hotels in 15 North American cities, including Chicago.
About 200 demonstrators plan to provoke police with a civil disobedience action Thursday afternoon in front of the Hyatt Regency Chicago, according to Unite Here Local 1, which represents about 6,500 downtown hotel employees who have been working without a labor contract since last August.
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About 200 demonstrators plan to provoke police with a civil disobedience action Thursday afternoon in front of the Hyatt Regency Chicago, according to Unite Here Local 1, which represents about 6,500 downtown hotel employees who have been working without a labor contract since last August.
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