Marriott International CEO and President Arne Sorenson discusses the minimum wage and whether raising it would affect the company's bottom line.» Read More
Nov 8- McDonald's Corp reported lower-than-expected comparable-restaurant sales for October as sales fell in Japan and remained weak in the United States. In Europe, sales rose 0.8 percent as more customers ate at its restaurants in the UK, France and Russia.
WELLINGTON, Nov 8- Tourists from China have been flooding into New Zealand and now a Shanghai- based property developer has bought an upmarket resort and plans a major upgrade to attract wealthy Chinese travellers to the South Pacific country. China is the second-biggest source of visitors to New Zealand.
Shares of Wendy's, the second-largest U.S. hamburger chain, plunged after the fast food chain reported lower-than-expected quarterly revenue.
Nov 7- Canadian coffee and doughnut chain Tim Hortons Inc reported an 8 percent rise in quarterly profit as same-store sales improved slightly in the United States. The company, which says it sells eight of every 10 cups of coffee sold in Canada, said U.S. same-store sales rose by 3 percent, while same-store sales in Canada increased 1.7 percent.
Nov 7- Wendy's Co, the second-largest U.S. hamburger chain, reported lower-than-expected quarterly revenue, sending its shares down 9 percent in premarket trading. The company's third-quarter revenue rose about 1 percent to $640.8 million but missed the average analyst estimate of $643.4 million, according to Thomson Reuters I/B/E/S.
*Third-quarter earnings/share $0.11 vs est $0.11. Nov 6- Restaurant operator Noodles& Co reported lower-than-expected revenue in its second quarter as a public company, citing a tepid consumer spending environment.
Gabriel Escarrer, CEO of Melia Hotels International, discusses the group's newest hotel in Dubai, the Middle East's "huge potential" and how diversifying risk helped them perform during the crisis.
Business travelers plan to take more trips in the coming months, according to industry forecasts. They'll find slightly higher hotel prices.
Marriott and Hyatt reported stronger-than-expected profits as a rebound in U.S. business travel boosted hotel occupancy and room rates.
Arne Sorenson, Marriott International CEO & president, breaks down the hotel company's earnings and shares his strategy to expand globally. A little over fifty-percent of all the rooms in the pipeline are overseas, Sorenson says.
Oct 31- Hotel chain Extended Stay America Inc said it expects to sell 28.3 million common shares at $18- $21 each in an initial public offering, valuing the company at as much as $4.2 billion.
*Marriott earnings/share $0.52 vs est. Oct 30- Hotels chains Marriott International Inc and Hyatt Hotels Corp reported stronger-than-expected quarterly profits as a rebound in U.S. business travel boosted both hotel occupancy and room rates.
In contrast, RevPAR fell 3 percent for managed and franchise hotels in the Asia-Pacific region, hurt mainly by China. "A lack of demand in China, increased supply growth in China and tougher Olympic-related comparisons in Europe in the third quarter were mainly the culprits," FBR Capital Markets& Co analyst Nikhil Bhalla said.
Oct 30- Hyatt Hotels Corp's quarterly profit more than doubled, driven by higher occupancy and a rise in room rates across most of its properties. Net income rose to $55 million, or 35 cents per share, in the third quarter ended Sept. 30 from $23 million, or 18 cents per share, a year earlier. Revenue rose about 4 percent to $1.02 billion.
VANCOUVER, Oct 29- A silver and blue ATM, perched up next to the espresso bar in a trendy Vancouver coffee shop, could launch a new era for the digital currency bitcoin, offering an almost instant way to exchange the world's leading virtual money for cash.
Oct 29- Brixmor Property Group Inc, a shopping center operator owned by Blackstone Group LP, priced its enlarged initial public offering at the midpoint of its expected range, raising $825 million in proceeds. It filed in September to take U.S. hotel operator Hilton Worldwide Inc public and also registered for an IPO of hotel chain Extended Stay America Inc..
WASHINGTON, Oct 29- Technology companies on Tuesday urged fast action on a patent reform bill in testimony before the House Judiciary Committee, including tackling what they termed the rising tide of costly lawsuits by "patent trolls."
Oct 29- Businessman Mitch Goldstone planned to shell out about $40 at the Red Square restaurant in Las Vegas before heading to a show, but he ended up spending four times that amount because of the alluring pictures of food and drinks on an electronic menu.
Oct 28- Burger King Worldwide Inc, known for its Whopper hamburgers, on Monday said it plans to introduce fewer seasonal and limited-time menu items in a bid to help restaurant operators improve profits and speed up service.
Stephen Joyce, Choice Hotels International CEO, reveals his strategy for refreshing the Choice brand, as hotel occupancy and room rates rise.