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Hotels, Restaurants and Leisure

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  • Dec 16- Darden Restaurants Inc reported a 4.9 percent rise in quarterly sales, helped by higher comparable sales at its flagship Olive Garden chain, and raised the lower end of its adjusted profit forecast for the full year. The company has suffered more than a year of traffic declines at Olive Garden, which accounts for more than half of Darden's overall revenue...

  • Darden Restaurants reports 2Q loss Tuesday, 16 Dec 2014 | 4:15 PM ET

    ORLANDO, Fla.— Darden Restaurants Inc. says sales improved at Olive Garden during the fiscal second quarter, helping the company beat market expectations for the period. Analysts surveyed by Zacks Investment Research were anticipating earnings of 27 cents per share. Revenue from its restaurants open at least a year increased 0.5 percent for Olive Garden,...

  • IHG acquires Kimpton in $430 million deal  Tuesday, 16 Dec 2014 | 7:17 AM ET

    Richard Solomons, InterContinental Hotels CEO, discusses IHG's hot hospitality merger with boutique hotel operator Kimpton.

  • LONDON, Dec 16- InterContinental Hotels Group, one of the world's largest hoteliers, has agreed to buy U.S.-focused Kimpton Hotels& Restaurants for $430 million to boost its exposure to the faster-growing boutique hotel sector. IHG, home to the Crowne Plaza, Holiday Inn and InterContinenal brands, said on Tuesday that the cash acquisition would be earnings...

  • LONDON, Dec 16- InterContinental Hotels Group, one of the world's largest hoteliers, said it had agreed to acquire U.S.-focused Kimpton Hotels& Restaurants for $430 million to boost its exposure to the boutique hotel space. IHG, home to the Crowne Plaza, Holiday Inn and InterContinenal brands, said on Tuesday that the cash acquisition would be earnings enhancing...

  • CEO of Bob Evans Farms steps down from post Monday, 15 Dec 2014 | 7:02 AM ET

    NEW ALBANY, Ohio— The CEO of Bob Evans Farms Inc. is stepping down by mutual agreement after more than eight years in the post as the restaurant operator works on improving its performance. Bob Evans Farms said that it has created an interim Office of the CEO while it looks for a permanent replacement as CEO. It named Chief Financial Officer Mark Hood and Mike...

  • PARIS, Dec 14- French hotel operator Accor announced a strategic alliance with China Lodging Group on Sunday to create a major new player in the fast-growing Chinese domestic travel and hospitality market. The partnership "will leverage the strengths of Accor's global brands with a leading player in Chinese hospitality," Accor Chairman and Chief Executive...

  • PARIS, Dec 14- French hotel operator Accor announced a strategic alliance with China Lodging Group on Sunday to create a major new player in the fast-growing Chinese domestic travel and hospitality market. The deal will combine the French hotel operator's brands including Ibis with more than 2,000 existing establishments run by China Lodging's Huazhu...

  • Playing the numbers—with marriage—on a lucky day Saturday, 13 Dec 2014 | 12:34 PM ET

    Saturday is the last numerically sequential date in the calendar for nearly two decades, sending wedding demand soaring.

  • College finalizes purchase of ex-Showboat casino Friday, 12 Dec 2014 | 5:53 PM ET

    ATLANTIC CITY, N.J.— A southern New Jersey college finalized its purchase of the former Showboat Casino Hotel in Atlantic City on Friday. "Our roots officially began at the former Mayflower Hotel in Atlantic City, and as our campus has expanded, so has our mission to provide higher education, research and community partnerships that enhance the region and state,"...

  • Bankruptcy judge voids sale of New Jersey casino Friday, 12 Dec 2014 | 10:30 AM ET

    CAMDEN, N.J.— A bankruptcy court judge on Friday voided the proposed sale of the former Revel Casino Hotel in Atlantic City to a Canadian firm. Judge Gloria Burns granted a request by Revel Entertainment to cancel the $110 million sale to Toronto- based Brookfield Asset Management. His Polo North Country Club was the runner-up in the auction, with a bid of $95...

  • Dec 11- Yum Brands Inc said on Thursday its sales at established restaurants in China dropped 15 percent in November but are improving from that level this month. "Our No. 1 priority is the China turnaround," Chief Executive Officer David Novak said at the company's investor and analyst conference in New York City. Yum, the owner of the KFC and Pizza Hut chains, is the...

  • Harvard prof had another food fight: Report Thursday, 11 Dec 2014 | 8:56 AM ET
    Benjamin Edelman in 2005

    Harvard's Benjamin Edelman, who apologized for an email blitz over a $4 overcharge, had a previous fight with another eatery, Boston.com reports.

  • WASHINGTON, Dec 11- Fast food chain Burger King will avoid hundreds of millions of dollars in U.S. taxes if, as planned, it completes its pending buyout of Canadian coffee-and-doughnuts chain Tim Hortons, a tax activist group said on Thursday. In one of the most notable of several corporate tax "inversion" deals this year, Florida- based Burger King announced in late...

  • Hilton Worldwide in talks to buy four hotels - Bloomberg Wednesday, 10 Dec 2014 | 4:25 PM ET

    Dec 10- Hilton Worldwide Holdings Inc is in talks to buy four properties from Blackstone Group LP and others for deferring tax payments from the sale of its Waldorf Astoria hotel in New York, Bloomberg reported. The company is planning to buy San Francisco's Parc 55 Wyndham, two Waldorf Astoria resorts in Key West and one in Orlando, Florida, the report said, citing...

  • Dec 10- The new proposed buyer for the shuttered Revel Casino Hotel said Wednesday that he will not give up his legal challenge to the auction of the Atlantic City, New Jersey, complex even though the winning bidder walked away from the deal. Revel filed papers overnight seeking approval to terminate its deal with Brookfield Property Partners LP and schedule a...

  • UPDATE 3-McDonald's to pare U.S. menus, ingredient lists Wednesday, 10 Dec 2014 | 2:49 PM ET

    Dec 10- McDonald's Corp said on Wednesday it plans to cut the number of items on its U.S. menus and use fewer ingredients in food as it moves to speed up service, bolster sales and offer consumers personalized options to compete better with Subway and Chipotle Mexican Grill. The company is testing its slimmed-down menus in six markets, including Bakersfield,...

  • Dec 10- McDonald's Corp in January will cut eight food items and reduce the number of so-called Extra Value Meals on its U.S. menus in a bid to speed up service and bolster sales, Mike Andres, the company's U.S. president, said on Wednesday. The company is testing its slimmed-down menus in six markets, including Bakersfield, California, and Knoxville, Tennessee, a...

  • Burger wars: Chain bets on 'natural' beef Wednesday, 10 Dec 2014 | 10:16 AM ET
    Carl’s Jr. "All-Natural Burger".

    Carl's Jr. has no antibiotics, no steroids, no added hormones and comes from grass-fed, free-range cattle. USA Today reports.

  • KFC calls on Chinese diners to inspect its kitchen Wednesday, 10 Dec 2014 | 3:59 AM ET

    SHANGHAI, Dec 10- KFC has a message for Chinese diners worried about eating their fried chicken after a safety scare at the fast food chain: come see how we operate for yourself. China is the biggest market by sales for KFC's parent Yum Brands Inc, but sales have slowed since July after a television report alleged that workers at a Yum supplier were adding expired...