Hotel Leelaventure on Monday reported a net loss of Rs 142.17 crore for the fourth quarter ended March 31, 2013 mainly on account of finance costs. It had posted a net profit of Rs 209.66 crore for the corresponding quarter previous fiscal, the company said in a filing to BSE. Net sales of the company, however, rose to Rs 200.63 crore for the quarter under consideration from Rs 139.31 crore for the same period year ago.
Tuesday, May 21, 2013
McDonald’s plans to invest Rs 400 crore to add another 75 to 100 outlets in India in the next two years. Despite being part of a listed entity now (Westlife Development), it intends to raise money for the same through debt and internal reserves. Most of these new stores would continue to be in the metros and mini metros.
Brinker International, Inc. (NYSE: EAT) today announces a signed agreement with longtime Canadian franchise partner, Speedy Creek (2011) Ltd. Under the terms of the agreement, a subsidiary of Brinker will acquire 11 existing Chili’s(®) restaurants in the province of Alberta, which generate approximately $35 million in annual sales. The transaction is projected to close in June. In addition to the 11 restaurants, Brinker also will retain the extensive industry experience and expertise held by the Speedy Creek team, which will be leveraged to further the brand’s development in Canada. In 1991, Speedy Creek became Chili’s first international franchisee, bringing the flavors of the Southwest to this key global market.
The J. Willard and Alice S. Marriott Foundation has committed 40.5 million RMB ($6.5 million) over five years to support China’s youth through the Marriott China Hospitality Education Initiative (CHEI). The purpose of this initiative is to enhance the hospitality education of Chinese youth, preparing them for rewarding careers in China’s booming travel and tourism industry. Marriott CHEI is now in the process of selecting 10 to 12 pilot schools for the upcoming academic year, and anticipates impacting up to 20,000 students annually in 50 schools within five years.
The renowned Beau-Rivage Palace, Lausanne's destination for the world's elite and jet-set for over 150 years, has completed the first phase of a major renovation, unveiling 37 new guestrooms and two luxury suites in the hotel's Palace Wing. With 61 additional guestrooms set to be completed in April 2014, the renovation will cost approximately US$28 million and is being overseen by acclaimed interior designer Pierre-Yves Rochon. All rooms feature the prominent use of mirrors to illuminate the space and reflect light from Lake Geneva. Each room is individually tailored depending on its specific shape, and the color palette consists of light green, beige and sky blue, creating a peaceful and relaxing atmosphere.
Amy Davis has been promoted to general manager of the Hilton Garden Inn Omaha Downtown/Old Market Area in Omaha, Nebraska. This will be Davis’ first general management position with White Lodging. Davis brings over 10 years of general management experience to her new position. She most recently led the Holiday Inn Hotel & Suites and Hampton Inn in Council Bluffs, Iowa as dual general manager.
Kirsten Monsen has been named general manager of the Residence Inn in Louisville, Colo. Monsen is a five- year veteran in the Louisville market, and this is her first general management position with White Lodging. After graduating from UMass Amherst with a Bachelor of Arts and Science in economics, Monsen started her career with White Lodging as cluster sales manager in 2007.
Markus Binkert (41), currently Head of Sales & Marketing Switzerland, Germany & Austria, has been appointed Chief Commercial Officer of SWISS airlines, starting his new duties on 1 May. Markus Binkert joined SWISS in 2005. After initially serving as Head of Global Key Account & Business Sales Switzerland, he moved in 2008 to head up the Product & Services department, where his achievements included introducing the new SWISS long-haul cabin product.
Best Western International has announced plans to launch its famous hotel brand in the world's most exciting emerging market, Myanmar. The 'World's Largest Hotel Chain®' has sealed an agreement to take over the management of the Green Hill Hotel, a modern new property located in the heart of Myanmar's largest city, Yangon. In doing so, Best Western International becomes the first US hotel company to establish a presence in Myanmar, following the exciting recent developments that have allowed the country to welcome new foreign investment.
Kerzner International Holdings Limited, which, through its subsidiaries, is a leading international developer and operator of destination resorts and luxury hotels, has entered into an agreement with Al Khozama Management Company, an award-winning Saudi developer and owner of luxury hotels, in partnership with Saudi Oger, to develop and operate a new One&Only resort in Jeddah on the Red Sea. With approximately 150 luxurious guest rooms, suites, and villas, a prestigious One&Only residential component, world-class dining and retail options, plus a health spa, the resort is set to become a destination for both business and leisure.
IHG (InterContinental Hotels Group), the largest international hotel group in Saudi Arabia both by number of rooms and number of hotels, has signed an agreement with Dyafah Al Mutahida LLC to open a 200-key Staybridge Suites in Jeddah, Saudi Arabia. This will be the first Staybridge Suites property, offering an extended stay experience, in Saudi Arabia. Staybridge Suites Hira Street will be located in central Jeddah just 7km from Jeddah's King Abdulaziz International Airport. It will be developed on a 14,700sqm plot and will form part of Dyafah Al Mutahida LLC's mixed-used development including retail outlets, healthcare facilities and a multi-purpose hall.
Wyndham Hotel Group, the world's largest hotel company with over 7,380 hotels and part of Wyndham Worldwide Corporation (NYSE: WYN), today announced the company's entry into Singapore with the opening of two properties: Ramada Singapore at Zhongshan Park and Days Hotel Singapore at Zhongshan Park. Both hotels, now opened and managed by Wyndham Hotel Group, are located at Zhongshan Park, the newest development area in Singapore, and are part of an integrated development that includes a commercial tower and shopping mall. Zhongshan Park is a fundamental component of Singapore's Identity Plan to rejuvenate the Balestier area and illustrate the culture and history of Singapore.