JERICHO, N.Y. (AP) -- Fast-food chain Nathan's Famous Inc. said Monday that it could owe $2.9 million to $6.1 million in a legal dispute with a licensee and it expects to record a charge of $2.9 million for its second quarter, which ended Sept. 26.
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Monday, October 18, 2010
Marriott, Hilton seek permission to hire more legal immigrants
As the economy rebounds and hotel giants expect to hire more employees, Marriott and Hilton Worldwide are among the large companies seeking to boost the number of legal immigrant workers they're allowed to hire, according to a Bloomberg News piece that also looks at campaign contribution patterns.
The hotel companies want increases in worker visas and more employment-based "green cards" - proof of permanent residency in the U.S. that can allow for a lifetime career, the story says.
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The hotel companies want increases in worker visas and more employment-based "green cards" - proof of permanent residency in the U.S. that can allow for a lifetime career, the story says.
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Kerzner rumours still swirl
Despite Kerzner International's adamant denial last week that the Atlantis and One & Only Ocean Club Owner is not for sale, rumours and speculation continue to swirl, with claims being made to this newspaper that other suitors are also interested.
Apart from BMB Group, a firm with connections to the Brunei Royal Family, making an unsolicited $3.4 billion all-cash bid that was rejected, one message sent to Tribune Business last night suggested that other parties potentially interested in Kerzner International included the Qatar Investment Authority, billionaire Las Vegas developer Steve Wynn and China Investment Corp, another Chinese government-owned entity.
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Apart from BMB Group, a firm with connections to the Brunei Royal Family, making an unsolicited $3.4 billion all-cash bid that was rejected, one message sent to Tribune Business last night suggested that other parties potentially interested in Kerzner International included the Qatar Investment Authority, billionaire Las Vegas developer Steve Wynn and China Investment Corp, another Chinese government-owned entity.
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Harrah's files with SEC for initial public offering
Harrah's Entertainment said this morning it is planning an initial public offering in order to raise at least $500 million for several development projects, including the completion of a hotel tower at Caesars Palace.
In documents filed with U.S. Securities and Exchange Commission, Harrah's said it would sell an unspecified amount of shares "to fund a near-term pipeline of growth projects and for general corporate purposes."
In documents filed with U.S. Securities and Exchange Commission, Harrah's said it would sell an unspecified amount of shares "to fund a near-term pipeline of growth projects and for general corporate purposes."
The Las Vegas-based company said the money would be used to build LINQ, a retail, dining and entertainment area between the Imperial Palace and the Flamingo, and complete the Octavius tower at Caesars Palace, which has 660 hotel rooms. Harrah's said completion of the Caesars tower will cost $85 million.
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Washington St. Regis foreclosed on
Barclays Capital has foreclosed on the owners of the St. Regis hotel and plans to auction it off Oct. 22, adding the iconic property to a heap of those purchased in Washington with heavy borrowing during the real estate bubble and that are therefore in danger of being lost by their owners.
Adorned with Italian Renaissance Louis XVI chandeliers and located two blocks from the White House on 16th Street Northwest, the 150-room, 25-suite St. Regis Washington is routinely ranked as one of the most luxurious hotels the region, its reputation further burnished after undergoing two major renovations in the past 23 years.
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Sunday, October 17, 2010
Melbourne Airport Hilton for sale
MULPHA Australia is saying goodbye to its airport hotel. Managed by Hilton Hotels and Resorts and trading as the Hilton Melbourne Airport, the property is available with vacant possession.
Selling agents CB Richard Ellis and Jones Lang LaSalle expect the sale to generate interest from local, national and international buyers.
''Vacant possession allows total flexibility for an incoming purchaser to acquire a unique and strong-performing asset in one of Australia's key hotel investment markets,'' said CBRE Hotels director George Nicholas.
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Selling agents CB Richard Ellis and Jones Lang LaSalle expect the sale to generate interest from local, national and international buyers.
''Vacant possession allows total flexibility for an incoming purchaser to acquire a unique and strong-performing asset in one of Australia's key hotel investment markets,'' said CBRE Hotels director George Nicholas.
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RBS sells Hilton Hyde Park to group run by brother of Simon Cowell
Royal Bank of Scotland (RBS) has sold the Hilton Hyde Park hotel in London for £25m to a group founded by X Factor star Simon Cowell's brother.
The 129-bedroom hotel, which faces Hyde Park and Kensington Gardens, has been sold to the Cowell Group - founded by Adrian Levey and Nick Cowell, Simon Cowell's brother.
Hilton has in turn signed a 30-year lease on the Hyde Park property.
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The 129-bedroom hotel, which faces Hyde Park and Kensington Gardens, has been sold to the Cowell Group - founded by Adrian Levey and Nick Cowell, Simon Cowell's brother.
Hilton has in turn signed a 30-year lease on the Hyde Park property.
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UK restaurants waste 600,000 tons of food a year
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| Getty Images |
Super-sized restaurant portions are contributing to an annual waste mountain that sees chefs throw away hundreds of thousands of tons of food that is fit to eat, new research has shown.
Britain's restaurants throw away more than 600,000 tons of food each year, or 22 tons per eatery, which means that half a kilo of food is wasted every time someone eats out, according to the first detailed waste snapshot of the sector.
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Valid law suits or attempted money grabs?
Alleging that he found a condom in a Whopper, a man sues Burger King. The restaurant counter-sues, and suddenly both suits are dismissed. Are there odd goings on in the fast food industry or is the find of off-menu ingredients a money-grab?
Is that a Condom in Your Whopper?
The Press Telegram reports that a 2007 Vermont resident, who sued a Burger King over allegedly biting into a condom in his Whopper, has dropped the suit. Concurrently, the eatery agreed to drop its counter suit. Quoting the Associated Press, the Press Telegram points out that each party will pay its own attorneys' fees, that the initial plaintiff is incommunicado and that the court record will be sealed.
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Is that a Condom in Your Whopper?
The Press Telegram reports that a 2007 Vermont resident, who sued a Burger King over allegedly biting into a condom in his Whopper, has dropped the suit. Concurrently, the eatery agreed to drop its counter suit. Quoting the Associated Press, the Press Telegram points out that each party will pay its own attorneys' fees, that the initial plaintiff is incommunicado and that the court record will be sealed.
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Tavern on the Green Food Trucks OUTRAGE Community Board
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(Courtesy A Walk in the Park)
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Mystery as golf course at centre of cash probe is ripped apart
THE golf course at a country club linked to a money laundering probe has been ripped apart.
Half of the 18 holes at Dalziel Park are unplayable after thieves stripped out tons of valuable topsoil from fairways and greens - leaving an ugly lunar landscape.
The systematic vandalism - using plant equipment - has been reported to police three times.
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Half of the 18 holes at Dalziel Park are unplayable after thieves stripped out tons of valuable topsoil from fairways and greens - leaving an ugly lunar landscape.
The systematic vandalism - using plant equipment - has been reported to police three times.
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Disillusioned chef leaving Canada
Chef Mahavir Dhirwan waves a fistful of unlined white paper in the crisp autumn air.
The papers contain Dhirwan's account in Hindi — meticulously recorded in flowing blue ballpoint pen — of his mistreatment in the kitchens of some of Toronto's finest Indian restaurants.
He tells how he was cheated out of wages after working 12-hour days, six days a week. He recounts how employers insisted on paying him cash to save money on payroll taxes and how this denied him the opportunity to build a Canadian work record. And he lays the blame on a federal program that lets employers bring foreign workers here on a temporary basis.
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The papers contain Dhirwan's account in Hindi — meticulously recorded in flowing blue ballpoint pen — of his mistreatment in the kitchens of some of Toronto's finest Indian restaurants.
He tells how he was cheated out of wages after working 12-hour days, six days a week. He recounts how employers insisted on paying him cash to save money on payroll taxes and how this denied him the opportunity to build a Canadian work record. And he lays the blame on a federal program that lets employers bring foreign workers here on a temporary basis.
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Buffets are the place where ingredients go to die
For many years in the 70s my family went on holiday to a Dorset hotel where, on Friday nights, there was a buffet laid out in the dining room. The centrepiece would always be a huge poached salmon, glazed with mayonnaise, and decorated with lobster shell appendages for colour and detail, as if the two creatures had met near some radioactive waste outlet and mutated. I remember that salmon very well, and the toqued chef standing behind it proudly. I do not recall ever having eaten it. Even then, with a childish indiscriminate palate and a hog's unceasing appetite, I was suspicious of the way the food was displayed. Could something so played with really taste nice? And were the salads surrounding it not just last night's leftovers coming around again to say hello?
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| Photograph: Alamy |
For many years in the 70s my family went on holiday to a Dorset hotel where, on Friday nights, there was a buffet laid out in the dining room. The centrepiece would always be a huge poached salmon, glazed with mayonnaise, and decorated with lobster shell appendages for colour and detail, as if the two creatures had met near some radioactive waste outlet and mutated. I remember that salmon very well, and the toqued chef standing behind it proudly. I do not recall ever having eaten it. Even then, with a childish indiscriminate palate and a hog's unceasing appetite, I was suspicious of the way the food was displayed. Could something so played with really taste nice? And were the salads surrounding it not just last night's leftovers coming around again to say hello?
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Dominican Tourism Project financed by China
The Bank of China and the Foreign Trade Bank of China will provide $462 million in financing for a tourism project in the eastern Dominican Republic being led by Spanish investors, tourism officials in that Caribbean country said.
The transaction marks the first Chinese capital investment in the Dominican Republic and will permit completion of the initial stage of the exclusive Punta Perla complex in the tourist resort of Punta Cana, located in the easternmost province of La Altagracia
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The transaction marks the first Chinese capital investment in the Dominican Republic and will permit completion of the initial stage of the exclusive Punta Perla complex in the tourist resort of Punta Cana, located in the easternmost province of La Altagracia
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