Hospitality Accounting - Hotel Accounting - Restaurant Accounting - Hospitality Finance - Hospitality Texts -Hospitality Management
February 2011 Edition
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This news site is maintained and paid for by Raymond Cote, Author of these two texts:
Basic Hotel and Restaurant Accounting: A principles and systems text based on the uniform system of accounts for hotels (AHLA) and restaurants (NRA). The text also contains several introductory managerial accounting chapters. An optional workbook is available. Click the HRA DESCRIBED tab at top of this page for more information.
Accounting for Hospitality Managers: A managerial accounting and financial management text providing the student with the necessary skills and knowledge to analyze financial information to solve hospitality business problems and achieve profit objectives. An optional workbook is available. Click the AHM DESCRIBED tab at top of this page for more information.
YOUR SUPPORT:The royalties from the sale of the above texts make this site possible. If you are not a customer, your review and consideration of my texts is appreciated. Remember that the purchase of any text from a used book seller does not benefit the author or publisher. These used book sellers do not provide any academic service and incur no expense (which is considerable) in the revising or publishing of an up-to-date text.
EMAIL ADDRESS CONFIDENTIALITY GUARANTEE: Your email address and name are given 100% privacy and confidentiality. Your information is never given, sold, or in any other manner made available to any company, organization, or person. When you visit my web site, no information is gathered; your visit is not monitored, and cookies are never used. However, your visit to any outside links noted in the various news sections is subject to that organization’s practice, which is not under my control.
GENERAL NEWS OF INTEREST
Bison meat gaining popularity:http://www.npr.org/2011/01/20/133052511/as-bison-demand-rises-so-does-need-for-ranchers
Cost cutting tips:http://www.foodservice.com/articles/show.cfm?contentid=21766
How to get your restaurant on Twitter:http://smartblogs.com/restaurants/2011/01/24/twitter-for-restaurants-best-practices-for-improving-customer-service-and-sales/
Tips for changing a business plan:http://www.openforum.com/idea-hub/topics/managing/article/top-tips-for-changing-your-business-plan-katie-morell?cid=em-smartbrief
Reasons why not to open a restaurant: http://www.fastcasual.com/article/179692/Commentary-13-reasons-NOT-to-open-a-restaurant
American chains modify menu and recipes for India:http://www.washingtonpost.com/wp-dyn/content/article/2011/01/21/AR2011012102912.html
Principles for better hiring: http://www.allbusiness.com/labor-employment/human-resources-personnel-management/15449475-1.html
Survey of quick service customers:www.mediapost.com/publications/?fa=Articles.showArticle&art_aid=144335
UNITED STATES NEWS
Restaurant Updates
· Caribou Coffee offers breakfast sandwiches at most stores nationwide; most stores now have them with the exception of a few smaller locations in malls, airports and the skyway system.
· Domino’s now offers boneless chicken and chicken wings at stores nationwide; the boneless wings replace Domino's Chicken Kickers and now come with a selection of dipping sauces. Domino's is the second-largest pizza chain by revenue and the biggest home delivery chain. The company has revised 80% of its menu in the past two years; introducing items such as breadsticks, pasta, sandwiches and dessert.
· Ronald McDonald is no longer a mainstay in McDonald’s TV and print advertising. But his is still active in children’s birthdays and school assemblies. Ronald also is active in charity work at his 300 Ronald McDonald Houses, which lodge families who need to be near their sick children. The origins of Ronald are clouded by who gets credit for his existence. Weatherman Willard Scott claimed in a memoir that he invented the character almost 50 years ago. McDonald’s says Washington-based franchisee Oscar Goldstein invented the character, with local ads until the first national television commercial aired in 1966.
· A Red Lobster and Olive Garden will share the same building in a test at Palm Coast, Florida. Each will have separate entrances and separate full menus. The restaurants will use the same kitchen. Customers will not be allowed to sit in one restaurant and order from the other restaurant’s menu.
· In 2010, Subway opened 2,147 new locations in 67 countries, seven Canadian provinces and all 50 U.S. states; bringing its restaurant count to 33,959. The new openings for the year include: 1,006 international locations, 1,038 U.S. stores, and 103 Canadian outlets.
· Taco Bell (Yum Brands) is challenging a class action lawsuit; it will take "legal action" against claims that the beef items on its menu only contain 35 percent of the meat and don't meet government label requirements. The fast-food chain had full-page ads in at least nine major newspapers and its president affirmed its taco filling is 88 percent beef.
· TCBY (The Country’s Best Yogurt) has signed Lone Star Yogurt to open 200 stores within the next 10 years throughout Texas; the first will open in January in Tyler, Texas.
· Donald Trump and the New York Hotel Trades Council entered into a labor agreement. . Mr. Trump plans on spending about $20 million for renovations. This agreement could pave the way to reopening the Tavern on the Green if the city awards the operating license. However, the City is not ready to announce any future plans for Tavern on the Green.
Economic Impact
· Market research company, The NPD Group, states that the number of U.S. restaurants declined by 1 percent in 2010, a loss of 5,551 restaurants from 2009.http://www.pizzamarketplace.com/article/178961/U-S-restaurant-count-down-chains-stable
International News of U.S. Restaurants
· Cheesecake Factory has an exclusive licensing agreement with the Kuwait-based Alshaya group to build and operate 22 restaurants over the next five years in the Middle East, specifically the United Arab Emirates, Kuwait, Bahrain, Qatar and the Kingdom of Saudi Arabia.
· Chili's (Brinker International) has opened its first restaurant in Russia. The company says that Brazil, Russia, India and China are very attractive for their international expansion plans.
· McDonald’s plans to invest 500 billion won ($436.4 million) over the next five years in Korea; the number of its restaurants in Korea will grow from the present 243 to 500.
· McDonald's has a 24-hour delivery service in Liaoning's Dalian. McDonald's promises to deliver the food within 30 minutes; except if there are extreme weather conditions and other uncontrollable factors. There is no minimum spending requirement.
· Yum should experience 2010 results of 36 percent of an estimated $2 billion operating profit from 3,700 restaurants in China – exceeding for the first time its total earnings from the 19,000 Taco Bell, Pizza Hut, KFC, Long John Silver's and A&W restaurants it owns in the United States. Yum plans to sell its Long John Silver's and A&W chains in part to focus on China.
Divestitures
· Wendy's/Arby's is planning to sell its Arby's chain.
· Yum! Brands has its A&W and Long John Silver's chains up for sale.
Gaming News
· Landry’s Restaurants is acquiring the Trump Marina Hotel and Casino in Atlantic City from Trump Entertainment; the company will rebrand the property as the Golden Nugget; it should to reopen by the end of the year. The casino will include Landry’s restaurant concepts Chart House, Grotto, Vic & Anthony’s, Red Sushi and Lillie’s Asian Cuisine and Noodle Bar.
· Texas is one of the few states that still has casino gambling prohibition. Gambling is now gaining support from the legislature. Supporters of gambling state that millions of dollars that are currently leaving the state because gamblers are traveling to neighboring states where casinos are legal. Anti-gambling lawmakers emphasize that the social ills are much greater than the revenue produced from gambling.
· Kansas decided to have a casino industry because of new job opportunities; especially when revenue was badly needed and its citizens lost their jobs and jobs were scarce. The voters approved four state-owned casinos but the years have experienced developers failing to develop these casinos state.
A recently approved developer plans to open a casino in early 2011. The developer’s general manager states that 90% of the new employees that will be Kansas residents. Long-term plans to be completed by 2015 are expected to have 1,000 employees.
· Brief history of Indian Gaming: Congress passed the Indian Gaming Regulatory Act of 1988 that recognized "the right of Indian tribes to establish gambling and gaming facilities on their reservations provided "the right of Indian tribes in the United States to establish gambling and gaming facilities on their reservations as long as the states in which they are located have some form of legalized gambling". 20 years later, Indian casino gambling revenue is nearly $23 billion. Indian casinos have been approved or are operating in California, Florida, Massachusetts, and several other states.
· In August, LV Air, a new charter airline, will have four flights a day from New York Las Vegas
Several Federal Income Tax Changes for 2011:
Tax Rates Remain Essentially Unchanged for 2011
Standard Deductions essentially unchanged:
· $5,800 for single taxpayers or those married taxpayers filing separately
· $11,600 for married taxpayers filing jointly
· $8,500 for taxpayers filing as head of household
· Additional standard deduction for senior citizens and taxpayers legally blind is:
$1,150 for married taxpayers filing jointly
$1,450 for single taxpayers
Personal Exemptions: $3,700 (Increased from $3,650 in 2010
$1000 Child Tax Credit Extended
Energy Tax Credits Return At Lower Rate
Home improvement tax credit is significantly reduced to a lifetime maximum of $500, and applies only to 10% of the cost of the home improvement. If the $1500 credit was taken in 2010, the 2011 credit is not available.
Capital Gains Tax Rates: http://thefinancebuff.com/0-capital-gains-tax-rate-for-2011-and-2012.html
Estate Tax Reinstated but at a Lower Rate than Previously: The estate tax lapsed in 2010, but would have been returned at previous rates and exemptions. The 2011 top rate is 35% and a $5 million exemption.
INTERNATIONAL NEWS
Belgium
· The Corporate office of the Rezidor Hotel Group is in Brussels, Belgium. The group has a portfolio of more than 400 hotels in operation and under development with 86,300 rooms in over 60 countries. Rezidor operates the brands Radisson Blu Hotels & Resorts, Park Inn by Radisson and Country Inns & Suitesin Europe, Middle East and Africa, along with the goldpoints plusSM loyalty programme for frequent hotel guests. Under a worldwide license agreement, the company also operates and develops the brand Hotel Missoni.
Canada
· Canadians and the Restaurant Industry Study: http://crfa.ca/pdf/ipsos_report.pdf
· Tim Hortons plans to open 120 restaurants in a license agreement with Dubai-based Apparel Group. The restaurants will open in the United Arab Emirates, Bahrain, Kuwait, Oman, and Qatar over the next five years, with the Apparel Group selecting locations. Tim Hortons has more than 3,000 restaurants in Canada and 567 in the United States.
China
· InterContinental Hotels Group’s Holiday Inn Express has changed its Chinese name to HI Xian Jiao RI in Greater China.
· Inter-Continental operates 132 hotels in China, and has another 149 under construction. Hilton operates 14 hotels under 4 brands and is building another 47. Starwood has 149 hotels and plans to double in two years. Shangri-La plans to have a total of more than 60 hotels in three years and Marriott plans to have 120 by 2015.
· The Oriental Outlook’s report states that China's hotel industry is saturated. Huang Tiemin, Vice President of Shanghai Hengshan (Group) predicts that newly-opened hotels have a 90-percent probability of failure in Shanghai. Yet, industry experts predict that instead of hotel construction coming to a halt; more than 1,500 hotels will be built annually from 2010 to 2015.
Cyprus
· A new mobile travel guide, mobiEXPORE Cyprus is now available and has local maps, guide to attractions, restaurants, service info and various activities. The app also enables real-time booking with best rates for over 200 hotels powered by booking.com
France
· McDonald's is testing limited table service at 50 of its 120 stores in Paris. The locations are equipped with touchpad kiosks where customers order and pay. McDonald’s staff serves these McCafé orders to seated customers.
India
· Jubilant FoodWorks Ltd. will set up 30 Dunkin' Donuts coffee and baked goods retail outlets in the next 3 years; Jubilant will be the exclusive franchisee in India for Dunkin' Donuts.
· Hilton Hotels & Resorts opened its fourth property in India, the204 room Hilton Chennai. Room rates start from around 8,000 rupees ($180) a night, for a double. The hotel’s market target is business travelers.
· Check Inn Hotels Pvt Ltd opened its first mid-market hotel in New Delhi, the hotel has 43 rooms. Features in each room include comfortable custom-made queen-size beds, a 32-inch Plasma TV and Wi-Fi Internet connection, tea & coffee makers, in-room dining facility, a double door wardrobe, work desk. Electronic secure doors and an in-room safe for valuables.
· Starwood Hotels & Resorts Worldwide has opened a 216-room Four Points hotel in Pune with Duet India Hotels (Pune) Pvt Ltd.
· Starwood Hotels & Resorts Worldwide has opened a 122-room Four Points hotels in Visakhapatnam with Visakhapatnam Ltd and Vishnupriya Hotels and Resorts Pvt Ltd
Malaysia
· Domestic tourism rose 45% in 2010; largely because of cheaper prices according to the Malaysian Association of Tour and Travel Agents. More people preferred to holidayinside the country instead of going overseas. Among the popular destinations were Langkawi, Terengganu and Penang.
Netherlands
· Moderate economic growth is forecast for the next two years and the budget will fall below the euro zone limit in 2012 according to the national bureau for economic policy. The bureau, known as CPB, forecasts that the Dutch economy will grow 1.75% this year and that the budget deficit in 2011 will be 3.6% of gross domestic product compared to the 5.3% in 2010.
Philippines
· Anew agreement with Wenphil, a Wendy’s franchisee since 1983, is for 44 additional restaurants, bringing the total Wendy’s locations in the country to 75.
South Africa
· South Africa saw a record of more than 8 million visitors, a 15.1 percent increase in tourist arrivals in 2010. The soccer World Cup boosted the 2010 tourist numbers.
Switzerland
· The Swiss Hotel Association reported that overnight stays in 2010 totaled 36.2 million, an increase of 619,000 stays; 1.7% over 2009. Although the strong Swiss franc resulted in fewer European guests (-2 per cent), there was an increase in Chinese guests (+49 per cent) and an increases in visitors from India (+21 per cent) and the Gulf States (+13 per cent).
· Sources of Information: Some of the information for this newsletter may be assembled, summarized, and re-tailored from many sources. For example, the National Restaurant Association, the American Hotel and Lodging Association, the Wall Street Journal, The Canadian Restaurant and Foodservice Association, Internal Revenue Service, QSR Magazine, Chain Leader, Hotel News Resource, Google, and numerous other professional sites.
· Links to third-party websites:Links to third party websites are provided solely as a convenience to you. If you decide to access any of the third-party websites linked in the newsletter, you do this entirely at your own risk. The author of this newsletter is not obligated to review third-party websites, does not control such third-party websites, and is not responsible for any such third-party websites. Ray Cote does not endorse or make any presentations about such third-party websites, their content, products or services.
· Procedure for making claims of infringement:Ray Cote respects the intellectual property rights of others. Accordingly, Ray Cote has a policy of removing any content that violate copyright law. Pursuant to Title 17 of the United States Code, Section 512, if you believe your copyright or other intellectual property right is being infringed please provide written notice to:
Raymond Cote, Author, PO Box 771383, Ocala, FL 34477
· Your written notice must:
(a) Present adequate contact information (postal address, telephone number, and e-mail address
(b) Contain your physical signature
(c) Identify the copyrighted work or other intellectual property alleged to have been infringed
(d) Contain a statement that the information in your written notice is accurate
(e) Contain a statement, under penalty of perjury, that you are authorized to act on behalf of the copyright or other intellectual property right owner.
(f) Any incomplete or fictitious claims will be deleted upon receipt
Basic Hotel and Restaurant Accounting: A principles and systems text based on the uniform system of accounts for hotels (AHLA) and restaurants (NRA). The text also contains several introductory managerial accounting chapters. An optional workbook is available. Click the HRA DESCRIBED tab at top of this page for more information.
Accounting for Hospitality Managers: A managerial accounting and financial management text providing the student with the necessary skills and knowledge to analyze financial information to solve hospitality business problems and achieve profit objectives. An optional workbook is available. Click the AHM DESCRIBED tab at top of this page for more information.
YOUR SUPPORT:The royalties from the sale of the above texts make this site possible. If you are not a customer, your review and consideration of my texts is appreciated. Remember that the purchase of any text from a used book seller does not benefit the author or publisher. These used book sellers do not provide any academic service and incur no expense (which is considerable) in the revising or publishing of an up-to-date text.
EMAIL ADDRESS CONFIDENTIALITY GUARANTEE: Your email address and name are given 100% privacy and confidentiality. Your information is never given, sold, or in any other manner made available to any company, organization, or person. When you visit my web site, no information is gathered; your visit is not monitored, and cookies are never used. However, your visit to any outside links noted in the various news sections is subject to that organization’s practice, which is not under my control.
GENERAL NEWS OF INTEREST
Bison meat gaining popularity:http://www.npr.org/2011/01/20/133052511/as-bison-demand-rises-so-does-need-for-ranchers
Cost cutting tips:http://www.foodservice.com/articles/show.cfm?contentid=21766
How to get your restaurant on Twitter:http://smartblogs.com/restaurants/2011/01/24/twitter-for-restaurants-best-practices-for-improving-customer-service-and-sales/
Tips for changing a business plan:http://www.openforum.com/idea-hub/topics/managing/article/top-tips-for-changing-your-business-plan-katie-morell?cid=em-smartbrief
Reasons why not to open a restaurant: http://www.fastcasual.com/article/179692/Commentary-13-reasons-NOT-to-open-a-restaurant
American chains modify menu and recipes for India:http://www.washingtonpost.com/wp-dyn/content/article/2011/01/21/AR2011012102912.html
Principles for better hiring: http://www.allbusiness.com/labor-employment/human-resources-personnel-management/15449475-1.html
Survey of quick service customers:www.mediapost.com/publications/?fa=Articles.showArticle&art_aid=144335
UNITED STATES NEWS
Restaurant Updates
· Caribou Coffee offers breakfast sandwiches at most stores nationwide; most stores now have them with the exception of a few smaller locations in malls, airports and the skyway system.
· Domino’s now offers boneless chicken and chicken wings at stores nationwide; the boneless wings replace Domino's Chicken Kickers and now come with a selection of dipping sauces. Domino's is the second-largest pizza chain by revenue and the biggest home delivery chain. The company has revised 80% of its menu in the past two years; introducing items such as breadsticks, pasta, sandwiches and dessert.
· Ronald McDonald is no longer a mainstay in McDonald’s TV and print advertising. But his is still active in children’s birthdays and school assemblies. Ronald also is active in charity work at his 300 Ronald McDonald Houses, which lodge families who need to be near their sick children. The origins of Ronald are clouded by who gets credit for his existence. Weatherman Willard Scott claimed in a memoir that he invented the character almost 50 years ago. McDonald’s says Washington-based franchisee Oscar Goldstein invented the character, with local ads until the first national television commercial aired in 1966.
· A Red Lobster and Olive Garden will share the same building in a test at Palm Coast, Florida. Each will have separate entrances and separate full menus. The restaurants will use the same kitchen. Customers will not be allowed to sit in one restaurant and order from the other restaurant’s menu.
· In 2010, Subway opened 2,147 new locations in 67 countries, seven Canadian provinces and all 50 U.S. states; bringing its restaurant count to 33,959. The new openings for the year include: 1,006 international locations, 1,038 U.S. stores, and 103 Canadian outlets.
· Taco Bell (Yum Brands) is challenging a class action lawsuit; it will take "legal action" against claims that the beef items on its menu only contain 35 percent of the meat and don't meet government label requirements. The fast-food chain had full-page ads in at least nine major newspapers and its president affirmed its taco filling is 88 percent beef.
· TCBY (The Country’s Best Yogurt) has signed Lone Star Yogurt to open 200 stores within the next 10 years throughout Texas; the first will open in January in Tyler, Texas.
· Donald Trump and the New York Hotel Trades Council entered into a labor agreement. . Mr. Trump plans on spending about $20 million for renovations. This agreement could pave the way to reopening the Tavern on the Green if the city awards the operating license. However, the City is not ready to announce any future plans for Tavern on the Green.
Economic Impact
· Market research company, The NPD Group, states that the number of U.S. restaurants declined by 1 percent in 2010, a loss of 5,551 restaurants from 2009.http://www.pizzamarketplace.com/article/178961/U-S-restaurant-count-down-chains-stable
International News of U.S. Restaurants
· Cheesecake Factory has an exclusive licensing agreement with the Kuwait-based Alshaya group to build and operate 22 restaurants over the next five years in the Middle East, specifically the United Arab Emirates, Kuwait, Bahrain, Qatar and the Kingdom of Saudi Arabia.
· Chili's (Brinker International) has opened its first restaurant in Russia. The company says that Brazil, Russia, India and China are very attractive for their international expansion plans.
· McDonald’s plans to invest 500 billion won ($436.4 million) over the next five years in Korea; the number of its restaurants in Korea will grow from the present 243 to 500.
· McDonald's has a 24-hour delivery service in Liaoning's Dalian. McDonald's promises to deliver the food within 30 minutes; except if there are extreme weather conditions and other uncontrollable factors. There is no minimum spending requirement.
· Yum should experience 2010 results of 36 percent of an estimated $2 billion operating profit from 3,700 restaurants in China – exceeding for the first time its total earnings from the 19,000 Taco Bell, Pizza Hut, KFC, Long John Silver's and A&W restaurants it owns in the United States. Yum plans to sell its Long John Silver's and A&W chains in part to focus on China.
Divestitures
· Wendy's/Arby's is planning to sell its Arby's chain.
· Yum! Brands has its A&W and Long John Silver's chains up for sale.
Gaming News
· Landry’s Restaurants is acquiring the Trump Marina Hotel and Casino in Atlantic City from Trump Entertainment; the company will rebrand the property as the Golden Nugget; it should to reopen by the end of the year. The casino will include Landry’s restaurant concepts Chart House, Grotto, Vic & Anthony’s, Red Sushi and Lillie’s Asian Cuisine and Noodle Bar.
· Texas is one of the few states that still has casino gambling prohibition. Gambling is now gaining support from the legislature. Supporters of gambling state that millions of dollars that are currently leaving the state because gamblers are traveling to neighboring states where casinos are legal. Anti-gambling lawmakers emphasize that the social ills are much greater than the revenue produced from gambling.
· Kansas decided to have a casino industry because of new job opportunities; especially when revenue was badly needed and its citizens lost their jobs and jobs were scarce. The voters approved four state-owned casinos but the years have experienced developers failing to develop these casinos state.
A recently approved developer plans to open a casino in early 2011. The developer’s general manager states that 90% of the new employees that will be Kansas residents. Long-term plans to be completed by 2015 are expected to have 1,000 employees.
· Brief history of Indian Gaming: Congress passed the Indian Gaming Regulatory Act of 1988 that recognized "the right of Indian tribes to establish gambling and gaming facilities on their reservations provided "the right of Indian tribes in the United States to establish gambling and gaming facilities on their reservations as long as the states in which they are located have some form of legalized gambling". 20 years later, Indian casino gambling revenue is nearly $23 billion. Indian casinos have been approved or are operating in California, Florida, Massachusetts, and several other states.
· In August, LV Air, a new charter airline, will have four flights a day from New York Las Vegas
Several Federal Income Tax Changes for 2011:
Tax Rates Remain Essentially Unchanged for 2011
Standard Deductions essentially unchanged:
· $5,800 for single taxpayers or those married taxpayers filing separately
· $11,600 for married taxpayers filing jointly
· $8,500 for taxpayers filing as head of household
· Additional standard deduction for senior citizens and taxpayers legally blind is:
$1,150 for married taxpayers filing jointly
$1,450 for single taxpayers
Personal Exemptions: $3,700 (Increased from $3,650 in 2010
$1000 Child Tax Credit Extended
Energy Tax Credits Return At Lower Rate
Home improvement tax credit is significantly reduced to a lifetime maximum of $500, and applies only to 10% of the cost of the home improvement. If the $1500 credit was taken in 2010, the 2011 credit is not available.
Capital Gains Tax Rates: http://thefinancebuff.com/0-capital-gains-tax-rate-for-2011-and-2012.html
Estate Tax Reinstated but at a Lower Rate than Previously: The estate tax lapsed in 2010, but would have been returned at previous rates and exemptions. The 2011 top rate is 35% and a $5 million exemption.
INTERNATIONAL NEWS
Belgium
· The Corporate office of the Rezidor Hotel Group is in Brussels, Belgium. The group has a portfolio of more than 400 hotels in operation and under development with 86,300 rooms in over 60 countries. Rezidor operates the brands Radisson Blu Hotels & Resorts, Park Inn by Radisson and Country Inns & Suitesin Europe, Middle East and Africa, along with the goldpoints plusSM loyalty programme for frequent hotel guests. Under a worldwide license agreement, the company also operates and develops the brand Hotel Missoni.
Canada
· Canadians and the Restaurant Industry Study: http://crfa.ca/pdf/ipsos_report.pdf
· Tim Hortons plans to open 120 restaurants in a license agreement with Dubai-based Apparel Group. The restaurants will open in the United Arab Emirates, Bahrain, Kuwait, Oman, and Qatar over the next five years, with the Apparel Group selecting locations. Tim Hortons has more than 3,000 restaurants in Canada and 567 in the United States.
China
· InterContinental Hotels Group’s Holiday Inn Express has changed its Chinese name to HI Xian Jiao RI in Greater China.
· Inter-Continental operates 132 hotels in China, and has another 149 under construction. Hilton operates 14 hotels under 4 brands and is building another 47. Starwood has 149 hotels and plans to double in two years. Shangri-La plans to have a total of more than 60 hotels in three years and Marriott plans to have 120 by 2015.
· The Oriental Outlook’s report states that China's hotel industry is saturated. Huang Tiemin, Vice President of Shanghai Hengshan (Group) predicts that newly-opened hotels have a 90-percent probability of failure in Shanghai. Yet, industry experts predict that instead of hotel construction coming to a halt; more than 1,500 hotels will be built annually from 2010 to 2015.
Cyprus
· A new mobile travel guide, mobiEXPORE Cyprus is now available and has local maps, guide to attractions, restaurants, service info and various activities. The app also enables real-time booking with best rates for over 200 hotels powered by booking.com
France
· McDonald's is testing limited table service at 50 of its 120 stores in Paris. The locations are equipped with touchpad kiosks where customers order and pay. McDonald’s staff serves these McCafé orders to seated customers.
India
· Jubilant FoodWorks Ltd. will set up 30 Dunkin' Donuts coffee and baked goods retail outlets in the next 3 years; Jubilant will be the exclusive franchisee in India for Dunkin' Donuts.
· Hilton Hotels & Resorts opened its fourth property in India, the204 room Hilton Chennai. Room rates start from around 8,000 rupees ($180) a night, for a double. The hotel’s market target is business travelers.
· Check Inn Hotels Pvt Ltd opened its first mid-market hotel in New Delhi, the hotel has 43 rooms. Features in each room include comfortable custom-made queen-size beds, a 32-inch Plasma TV and Wi-Fi Internet connection, tea & coffee makers, in-room dining facility, a double door wardrobe, work desk. Electronic secure doors and an in-room safe for valuables.
· Starwood Hotels & Resorts Worldwide has opened a 216-room Four Points hotel in Pune with Duet India Hotels (Pune) Pvt Ltd.
· Starwood Hotels & Resorts Worldwide has opened a 122-room Four Points hotels in Visakhapatnam with Visakhapatnam Ltd and Vishnupriya Hotels and Resorts Pvt Ltd
Malaysia
· Domestic tourism rose 45% in 2010; largely because of cheaper prices according to the Malaysian Association of Tour and Travel Agents. More people preferred to holidayinside the country instead of going overseas. Among the popular destinations were Langkawi, Terengganu and Penang.
Netherlands
· Moderate economic growth is forecast for the next two years and the budget will fall below the euro zone limit in 2012 according to the national bureau for economic policy. The bureau, known as CPB, forecasts that the Dutch economy will grow 1.75% this year and that the budget deficit in 2011 will be 3.6% of gross domestic product compared to the 5.3% in 2010.
Philippines
· Anew agreement with Wenphil, a Wendy’s franchisee since 1983, is for 44 additional restaurants, bringing the total Wendy’s locations in the country to 75.
South Africa
· South Africa saw a record of more than 8 million visitors, a 15.1 percent increase in tourist arrivals in 2010. The soccer World Cup boosted the 2010 tourist numbers.
Switzerland
· The Swiss Hotel Association reported that overnight stays in 2010 totaled 36.2 million, an increase of 619,000 stays; 1.7% over 2009. Although the strong Swiss franc resulted in fewer European guests (-2 per cent), there was an increase in Chinese guests (+49 per cent) and an increases in visitors from India (+21 per cent) and the Gulf States (+13 per cent).
· Sources of Information: Some of the information for this newsletter may be assembled, summarized, and re-tailored from many sources. For example, the National Restaurant Association, the American Hotel and Lodging Association, the Wall Street Journal, The Canadian Restaurant and Foodservice Association, Internal Revenue Service, QSR Magazine, Chain Leader, Hotel News Resource, Google, and numerous other professional sites.
· Links to third-party websites:Links to third party websites are provided solely as a convenience to you. If you decide to access any of the third-party websites linked in the newsletter, you do this entirely at your own risk. The author of this newsletter is not obligated to review third-party websites, does not control such third-party websites, and is not responsible for any such third-party websites. Ray Cote does not endorse or make any presentations about such third-party websites, their content, products or services.
· Procedure for making claims of infringement:Ray Cote respects the intellectual property rights of others. Accordingly, Ray Cote has a policy of removing any content that violate copyright law. Pursuant to Title 17 of the United States Code, Section 512, if you believe your copyright or other intellectual property right is being infringed please provide written notice to:
Raymond Cote, Author, PO Box 771383, Ocala, FL 34477
· Your written notice must:
(a) Present adequate contact information (postal address, telephone number, and e-mail address
(b) Contain your physical signature
(c) Identify the copyrighted work or other intellectual property alleged to have been infringed
(d) Contain a statement that the information in your written notice is accurate
(e) Contain a statement, under penalty of perjury, that you are authorized to act on behalf of the copyright or other intellectual property right owner.
(f) Any incomplete or fictitious claims will be deleted upon receipt
