Restaurant News
·         McDonald's follows Starbucks and Jamba Juice – oatmeal is added to the menu.
·         Yum Brands (Taco Bell, KFC and Pizza Hut) earned 65% of its operating profit last year from foreign operations.
·         Darden Restaurants (Red Lobster, Longhorn, Olive Garden, other) plans to open 75 restaurants in 2011.
·         Pizza Hut will invest $10 million in New Orleans and Baton Rouge, La., building brand new restaurants within the next 18 months. 

Planned Divestures
·         Wendy's/Arby's Group Inc. is exploring alternative  plans for Arby’s including putting the sandwich chain up for sale.
·         Yum Brands Inc. (YUM) plans to sell its Long John Silver's and its A&W All-American Food Restaurants chains to focus on the international growth of its larger brands, namely Taco Bell, KFC and Pizza Hut.   Yum had acquired the two chains for $320 million in 2002.

Economic Signs
·         The food services industry added about 25,000 jobs in December; making the hospitality industry the top spot for new jobs on the list of 14 sectors measured by the federal government.  The restaurant and drinking places added 188,000 jobs in 2010.

Casino News
·         Maine is getting a casino; 51% of the voters approved the local Black Bear Entertainment LLC to build a casino in the western town of Oxford.  Over $165 million will be invested into building and making the new casino operational, although exact site of the future casino remains presently unknown. The state presently has the Hollywood Slots Casino in Bangor, which consists of 1,000+ slot machines, but table games are not allowed.
·         In 2010, Pennsylvania legalized table games and the state has seen a major increase in gaming tax revenue.   Pennsylvania since has approved slot parlors and new casinos are rushing to business. 
·         Gambling of some form is legal in 48 of the 50 US states.
·         There are many states in the US that have casinos and/or slot parlor; perhaps the best known casinos are in Las Vegas, Atlantic City, and the Gulf Coast. The United States is against Internet gambling but support expanding brick and mortar casinos.
·         Florida and California are the two states with the most popular Tribal Indian casino gaming establishment.   A new law in Florida just allowed expansion to full table games and Vegas style slot machines. California is constantly battling with Indian Tribes over the expansion of gaming in their state. And other states around the country are seeing more and more new Indian casinos erected and accepted. 
·         Florida legislators are considering legalizing full scale Las Vegas casino resorts.  South Beach, a major tourist destination, would become even more attractive with casinos.
·         Maryland recently opened their first casino.  Legislation has been introduced in Maryland that would bring the table games to Maryland.  The residents will decide to bring blackjack, roulette, craps, and other table games to Maryland. 
·         Delaware has legalized sports betting, and New Jersey is ready to also legalize it.

Government Regulation
·         New York’s state department of labor issues new minimum wage laws that radically affect restaurant and hotel industries:
http://www.wagehourblog.com/2011/01/articles/new-york-wagehour-law/abrupt-changes-for-new-yorks-restaurants-and-hotels-minimum-wage-tip-pooling-and-recordkeeping-requirements/
·         Massachusetts has new food allergy laws for restaurants effective February 1:http://www.thebostonchannel.com/r/26455563/detail.html

International News of U.S. Companies
·         T.G.I. Friday’s plans to open another 30 restaurants in the Middle East.  See International News/Regional for more information.
·         Dixie Queen Donuts plans to open 100 stores in Iraq, the United Arab Emirates, Jordan, Syria and Qatar.  The first store is scheduled for June 2011.
·         Pizza Hut has announced that its 500th pizza restaurant in China has opened in Lanzhou, capital of Gansu province.
·         Wingstop announced a franchisee plan to add 20 restaurants in Mexico over the next three years.
·         Starbucks: See India

Other News of Interest
·         Zagat lists the best hotel restaurants: http://www.usatoday.com/travel/hotels/2010-12-28-hotelrestaurants28_ST_N.htm?csp=hf

Accounting, Finance, Taxation
·         Rules for reporting tip income are explained at: http://www.wagehourblog.com/2010/07/articles/tipped-employees/heres-a-tip-follow-the-rules-for-reporting-tip-income/

Regional
·         T.G.I. Friday’s plans to open another 30 restaurants in the Middle East in partnership with its regional franchisee, the Kuwait-based Americana Group whose territory encompasses Bahrain, Egypt, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, Syria and the UAE; it currently owns and operates 36 T.G.I. Friday's restaurants.

 ·         Dixie Queen Donuts plans to open 100 stores in Iraq, the United Arab Emirates, Jordan, Syria and Qatar.  The first store is scheduled for June 2011.

 Specific Country

 Bahrain
·         The 174-room Novotel Al Dana Resort in Muharraq, will have a US$58.3 million renovation and expansion, the property will become a 23-storey twin-tower with 146 rooms and 65 apartments; it will be rebranded as the Pullman Bahrain.

 Canada
·         The Canada Restaurant Industry Study: http://www.crfa.ca/aboutcrfa/newsroom/2010/first-ever_study_into_canadians_and_the_restaurant_industry_reveals_strong_connection.asp

 ·         On April 1, penalties involving the Temporary Foreign Worker Program will apply to employers that fail to meet commitments on wages, working conditions and        
occupation.  .For more information:   http://www.cic.gc.ca/english/department/media/releases/2010/2010-08-18.asp

 Caribbean
·         The Fairmont Royal Pavilion in Barbados has re-opened after a two-month renovation.

·         Turtle Beach Bungalows, a new resort on the island of St. Kitts has opened.  It will eventually include a 300-acre mega-yacht harbor, 2,500 acres of residential development, a private beach club, and 18-hole golf course, among other amenities.

 China
·         Home Inns & Hotels Management Inc. plans to open a total of 260 to 280 new hotels in 2011.   100 to 110 properties will be leased-and-operated hotels and 160 to 170 will be franchised-and-managed hotels.  The total of number of hotels in the group is expected to reach 1,100 at the end of 2011.

 ·         Conrad Hotels & Resorts announces the opening of its first luxury property, the Conrad Sanya Haitang Bay, a 101 luxurious villas and rooms in Mainland China, located in Haitang Bay in Sanya, Hainan Island.

·         Hilton Worldwide opens its sixth Doubletree in Mainland China, the hotel has 463 rooms.

 ·         Pizza Hut has announced that its 500th pizza restaurant in China has opened in Lanzhou, capital of Gansu province.

 Cyprus
·       A  new travel study found that more newlywed couples selected Cyprus as their honeymoon destination in 2010, which could lead to more bookings to the 'island of love', states ulookubook.com.  While Cyprus held the top spot in the top ten, other popular holiday spots were Dominican Republic (2nd) and Cape Verde in Africa (3rd). Others included New York (5) and Sharm el Sheikh (10).   Cyprus has been a popular summer holiday destination because of its outstanding weather abundant activities.  

 France
·         In 2011 Louvre Hotels intends to open another 120 hotels worldwide, including 40 hotels in France.

 ·         The Palace of Versailles outside Paris is to convert one of its buildings into a luxury hotel with 23 rooms.  Some rooms will have a view of The Orangerie, the palace’s elaborate greenhouse, and others will have a view of the Swiss ornamental lake.  The hotel could be ready as early as the end of next year.

 ·         The Mandarin Oriental Paris is slated to open this year with hotel and 13 private residences on the prestigious rue Saint Honore in a 1930s art deco building.

 ·         The Raffles Royal Monceau, will open October 18, 2010. 

 ·         Le Shangri La Paris will open in December 2010; it will offer some of the biggest rooms in the city and views of landmarks such as the Eiffel Tower.

 ·           Le Mandarin Oriental is currently being transformed for the hotel's opening in mid-2011.

 ·          The 200 room Le Peninsula Paris is scheduled to open in the summer of 2012.

INDIA
·         Starbucks announced an agreement to buy coffee beans from Tata Coffee, an Indian company, and work with that firm’s affiliates to open stores in hotels and inside other retail stores.   In addition to the Tata deal, the company plans other partnerships to open stand-alone retail stores on streets and in malls.  The company will face stiff competition from established coffee chains such as Café Coffee Day, Barista, and Coffee Bean & Tea Leaf.

 ·         Marriott International plans to open 100 hotels; 40 per cent would be Fairfield, its mid-scale brand.

 ·         Mid-scale brand Choice Hotels International plans to open over 50 Comfort Inn hotels in India.

 ·         Ginger economy hotels presently has 23 Ginger hotels and plans to add 60 more in the next five years.

 ·         The Indian Hotels Company Ltd.  Is planning to have 43 projects over the next 4 years.  This addition would bring the chain’s rooms count to 10,000 – 12,000 rooms.  The company operates the Tai Hotels Resorts and Palaces chain.

 ·         Carlson, a privately held, global hospitality and travel company plans to open 19 additional hotels in India by the end of 2011; its four brands include Radisson, Country Inns & Suites by Carlson, Park Inn and Park Plaza.

 ·         Goshiv Hospitality Pvt. Ltd opened Hotel Mantra Amaltas, New Delhi; its first premium boutique hotel.

 ·         Wyndham Hotel Group has signed a franchise agreement to open its first Wyndham Hotels and Resorts property in India; located in New Delhi, the 394-room Wyndham New Delhi Dwarka Hotel is currently under construction and is scheduled to open in April 2011.

 ·        Lemon Tree Hotels opened its second upscale full service, business hotel and 13th in the country.

 ·        Hong Kong-based Langham Hotels International will invest $100 million to develop four properties with over 650 rooms; the first is a 97-room hotel under the Eaton Smart brand at the Delhi International Airport will open soon. The second hotel, the 130-room Langham Place in Pune, will be next to open. 

·         Ista Hotels opened Ista Pune, a 209-room property adjacent to Aga Khan Palace in Yerwada, Pune.

 Japan
·         Japan forbids smoking in some streets but smoking can be allowed by a bar, restaurant, or hotel conference center.

 Malaysia

 ·         Hotel Seri Malaysia, cost RM27.5 million, 150-rooms capacity, located in Perlis will open in February.

 ·       InterContinental Hotels enters the Malaysian hotel market with the opening of the 473-room InterContinental Kuala Lumpur will replace the current Nikko Hotel Kuala Lumpur on  1 February 2011.  A 30-month renovation will be performed in three phases.

·         24 million tourists visited Malaysia in 2010.

 Mexico
 ·         Wyndham Hotels and Resorts has added to its portfolio the 286-room Wyndham Cabo San Lucas Resort in downtown Cabo San Lucas. The resort owned by AMX Baja Holdings is located in Los Cabos at the southernmost tip of the Baja California peninsula.  The five-story resort is undergoing a $10 million renovation with completion is expected in early 2012. 

 South Africa
 ·         A 120-room Park Inn Cape Town Foreshore will open in the last quarter of 2011; offering two rooftop conference rooms, four breakout rooms, the RBG Restaurant & Bar, a gym, rooftop terrace, bar and swimming pool with views of Table Mountain.

 ·         South Africa has been formally asked to join the BRIC (Brazil, Russia, India and China)  group of major emerging markets; with the addition of South Africa the group will be as BRICS in 2011.  Prior to the BRICS announcement, South Africa has been enjoying an upsurge in investment from foreign investors looking for property investments with worthy returns. The 8.3% y/y growth rate in the median property prices in August and 7.3% y/y in July support estimates that the average nominal growth will be around 6% for the year.

 ·         South African benefited from the successful hosting of the 2010 FIFA World Cup and other allied businesses.  Also, 2010 was an abundant year for Nigeria’s tourism industry.