Archive
Hotels take longer to build than other property types — soon it may take longer
Hotel construction experienced a remarkable boom in the mid-2010s, with ripple effects that are still felt to this day. As it turns out, building a new hotel is also a more time-consuming enterprise than building any other property type — at least according to the numbers. (The Real Deal)
How brands enhance off-premise platforms
Foodservice industry executives met during the NRA Show, held in Chicago in May, to discuss off-premise trends at a Beverage Roundtable sponsored by Whirley DrinkWorks. The conversation focused on strategies to drive off-premise sales and covered such topics as third-party delivery partnerships, operational changes and how to protect the brand and customer experience. (Nation’s Restaurant News)
Bloomin’ Brands to expand delivery
Outback Steakhouse and Carrabba’s Italian parent Bloomin’ Brands offers delivery from 240 locations and will expand the service to 200 more restaurants, the company said. The move is part of a push to depend more on delivery and less on discounts to drive sales growth. (Nation’s Restaurant News)
Dunkin’ Donuts looks to branch outside of breakfast with new snacks
Having mastered the coffee-and-doughnut breakfast trade, Dunkin’ Donuts is looking to expand its appeal at other times of the day. The chain is going to offer what it calls a Dunkin’ Run menu aimed at take-out customers. (USA Today)
Marriott, Starwood, Ritz Program Merger to Take Place in August
A date has been set for the merger of the Marriott, Ritz-Carlton and Starwood Hotels frequent guest programs. Marriott Rewards, Ritz-Carlton Rewards, and Starwood Preferred Guest will officially become one program on August 18, according to Marriott’s website for program members. (TravelPulse)
Hyatt Is Interested in Acquiring Spain’s NH Hotel Group
Hyatt Hotels Corp., the lodging company founded by the billionaire Pritzker family, has sent a letter to NH Hotel Group SA indicating its interest in acquiring the Spanish hotel operator. “Hyatt has a demonstrated track record of making strategic investments to extend the reach of our brands and create value for our stakeholders,” Mark Hoplamazian, Hyatt’s president and chief executive officer, said in an emailed statement Thursday to Bloomberg. (Bloomberg)
Why do restaurants charge extra for avocado?
The People’s Pint, a brew pub in the Western Massachusetts town of Greenfield (population just over 17,000), has an avocado problem. The restaurant took the popular item off its menu four months ago. (NBC)
The 18 Best New Restaurants in America
A menu borrowing from Turkey, Morocco and Egypt earned Los Angeles’ Bavel a place among Eater’s Best New Restaurants of the year. Bywater American Bistro in New Orleans celebrates the contributions of Caribbean cooking to the city’s food scene, while San Antonio’s Carnitas Lonja serves up slow-cooked carnitas on handmade corn tortillas. (Eater)
Apple Hospitality REIT Expects Pickup in Business Demand to Continue in 2018
Justin Knight, president and CEO of Apple Hospitality REIT, Inc. , participated in a video interview at Nareit’s REITweek: 2018 Investor Conference in New York. Knight observed that leading into 2018, leisure traveler demand had significantly outpaced business traveler demand. As 2018 began, leisure continued to be reasonably strong, but business transient demand began to pick up, he noted. (Nareit)
Hilton raises full-year outlook on rising demand in U.S
Hotel operator Hilton Worldwide Holdings Inc (HLT.N) reported a quarterly rise in a key industry measure and raised its full-year earnings forecast on Wednesday, helped by strength in the United States. Hilton now expects net income attributable to shareholders before special items to be between $2.61 and $2.68 per share in 2018, compared with its previous forecast of $2.57 to $2.66 per share. (Reuters)
McDonald’s beats Wall Street estimates, but US sales growth cools
Sales at company-owned restaurants plunged by 27 percent during the second quarter and same-store sales in the U.S. grew slower-than-anticipated rate of 2.6 percent. A jump in international sales, especially in the U.K. and France, helped bolster the results. (CNBC)
Starbucks aims to boost sales as profit, revenue beat forecast
Starbucks, fresh off a spring of tough headlines and uninspiring results, is taking bigger steps to correct course. The coffee giant will start nationwide delivery in China by the end of the year, and it’s also considering a national U.S. television advertising campaign, executives said after the release of quarterly results. (Seattle Times)
Technology Forward: McDonald’s embrace of new tech keeps up with the changing times
By Lisa Leinberger McDonald’s has been changing the very nature of quick-service since it got its start in 1948. In its earliest days, the company streamlined and revolutionized cooking
Weekly Update: National Restaurant and Lodging Associations Commit to Training 550,000 Workers, Students
National Restaurant and Lodging Associations Commit to Training 550,000 Workers, Students During an event at the White House last week, the National Restaurant Association Educational Foundation and the American Hotel
Lodging REITs Have a Bright Future
Lodging and resorts is one sector of the REIT universe that nearly everyone has experienced, whether on a vacation with the family or a business trip for work. It makes sense, then, that the same forces that influence household vacation plans or business travel needs are also the main economic drivers for the hospitality business. (Nareit)