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Hotels, Restaurants and Leisure

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  • Feb 10- Starwood Hotels& Resorts Worldwide Inc reported an 83 percent jump in quarterly profit and said it would spin off its timeshare business to focus on its core hotels business. Regis and Sheraton brands of hotels rose 5 percent to $74.80, making them the top percentage gainer among S&P 500 constituents in premarket trading. The company's net income rose to...

  • Feb 10- Hotel operator Starwood Hotels& Resorts Worldwide Inc reported an 83 percent jump in quarterly profit and said it would spin off its vacation ownership business. The company's net income rose to $234 million, or $1.34 per share, in the fourth quarter ended Dec. 31, from $128 million, or 68 cents per share, a year earlier. Revenue fell 1 percent to $1.49 billion.

  • VANCOUVER, Feb 10- When Liu Chuang landed in Vancouver in 2013, he noticed that most of the Chinese immigrants he met were heavily invested in residential real estate and hungry to diversify. Flipping houses didn't appeal to the 39- year-old entrepreneur, who is launching a Vancouver- based tech incubator to help his Chinese-born friends invest in local...

  • Feb 9- McDonald's Corp on Monday reported a steeper-than-expected drop in January sales at established restaurants and pinned a big portion of the blame on the after-effects of food safety scandals in China and Japan. January marked the eighth straight month of worldwide same-restaurant sales declines at McDonald's, which is replacing Chief Executive Don...

  • Feb 9- McDonald's Corp's worldwide same-restaurant sales fell a steeper-than-expected 1.8 percent in January, as the company struggles to shake off the after-effects of food scandals in China and Japan. January marked the eighth straight month of worldwide same-restaurant sales declines at McDonald's, which is also battling changing consumer tastes,...

  • How to make money by charging for reservations Saturday, 7 Feb 2015 | 2:00 PM ET
    The Presto restaurant tablet.

    Competition to snag a reservation at hot eateries borders on cutthroat. Enter Resy, a new app that can get you a table, but at a price.

  • When Pappas and partner C.C. Hirsch recently closed on a three-bedroom property in Windsor Terrace, Brooklyn, it didn't hurt that her favorite macchiato place was only a half-block away. "Coffee is important," says Pappas, 36, global head of audience development for YouTube. "We looked for certain markers for where homes appreciated faster than others," says Stan...

  • LONDON, Feb 5- A decade ago McDonald's UK business needed better menus and a fresh image to catch up with consumer tastes. The man from Watford, northwest of London, first made his mark in 2006 when he revived British sales by improving the brand's burgers, cutting the salt in its fries and introducing fresh, healthier food alongside organic milk and better coffee.

  • TOKYO, Feb 5- The Japanese unit of McDonald's Corp booked its first annual operating loss since going public in 2001 and its January sales plunged by a record 39 percent as food safety scandals drove customers away. The problems are an added distraction for McDonald's Corp, the world's largest restaurant chain by sales, which last month replaced its CEO with...

  • Macau drags Wynn Resorts 4Q earnings down Wednesday, 4 Feb 2015 | 10:56 AM ET
    Wynn Macau casino resort, operated by Wynn Resorts, in Macau, China.

    A crackdown in corruption in China that has hushed the once frenzied Macau casino business took its toll on Wynn Resorts in the fourth quarter.

  • Feb 3- Chipotle Mexican Grill Inc on Tuesday reported sales growth at established restaurants slowed in the fourth quarter and slightly missed Wall Street's estimate, sending shares down more than 6 percent in after-hours trade. Its stock trades at a rich valuation and is harshly punished when it fails to exceed Wall Street's lofty expectations.

  • Feb 3- Chipotle Mexican Grill Inc on Tuesday reported that the growth of sales at established restaurants decelerated from prior quarters and slightly missed Wall Street's estimate, sending shares down more than 6 percent in after-hours trade. It trades at a rich valuation and, as a result, is harshly punished when it fails to exceed Wall Street's lofty...

  • *Sale to generate $400 mln- $475 mln in pretax proceeds. *Forecasts 2015 adj profit of $0.33- $0.35/ shr vs est $0.39. Feb 3- Wendy's Co, the No. 3 U.S. hamburger chain by sales, said it would sell about 500 restaurants to franchisees and reduce company ownership of its outlets to about 5 percent by mid-2016.

  • LOS ANGELES, Feb 3- Dunkin' Donuts is expanding its U.S. menu with cold blended drinks, including a milkshake-like frozen Dunkaccino, as it and other fast-food chains seek to boost sales in a competitive market, an executive told Reuters on Tuesday. The coffee-and-doughnut chain will also offer fruit smoothies and reduced-calorie versions of its popular...

  • Feb 3- Wendy's Co, the No. 3 U.S. hamburger chain by sales, said it would sell about 500 restaurants to franchisees and reduce company ownership of its outlets to about 5 percent by mid-2016. Wendy's, like market leader McDonald's Corp, has been struggling in an increasingly competitive fast-food market, losing out to casual dining restaurants such as Chipotle...

  • Wendy's to sell 500 restaurants to franchisees Tuesday, 3 Feb 2015 | 6:58 AM ET

    Feb 3- Wendy's Co, the No. 3 U.S. hamburger chain, said it would sell about 500 restaurants to franchisees and reduce company ownership of its outlets to about 5 percent by mid-2016. "We believe this reduction in ownership will result in pretax cash proceeds of approximately $400 to $475 million and significantly reduce future capital expenditure requirements,"...

  • Atlantic City to investors: Gamble on our bonds Sunday, 1 Feb 2015 | 11:59 AM ET
    A sign marks the Trump Taj Mahal Hotel and Casino in Atlantic City.

    Atlantic City is engaging in another type of gamble: convincing investors to buy its junk-rated bonds.

  • WASHINGTON, Jan 30- Food distributor Sysco Corp and its biggest rival, US Foods Inc, have offered to sell a smaller competitor 11 facilities in order to convince skeptical antitrust regulators to approve their $3.5 billion merger, a source briefed on the matter told Reuters. The deal, proposed in December 2013, is seen as problematic because Sysco and US Foods are...

  • Jan 30- Shares of Shake Shack Inc more than doubled on Friday, putting a nearly $2 billion price tag on the small cult hamburger chain, in a huge bet that its growth can match top performers in the crowded "fast-casual" dining space. Other hot restaurant debuts have been followed by stock swoons, including Noodles& Co and sandwich maker Potbelly Corp.

  • Jan 30- Shares of trendy hamburger chain Shake Shack Inc soared 150 percent in their first few minutes of trading on Friday, valuing the company that grew out of a hotdog cart in New York's Madison Square Park at nearly $2 billion. Shake Shack shares hit $52.49 in early trading on the New York Stock Exchange, way above their offer price of $21, before easing back to $48.