CHICAGO, Jan. 26 - Following an 80% drop in global hotel transaction volume in 2008, Jones Lang LaSalle Hotels forecasts that 2009 will exhibit a further decline, to levels last seen between 2001 and 2003, according to the firm’s Hotel Investment Outlook 2009 report. The report reveals that $23 billion…
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Comments • Posted on Jan 26, 2009 - 09:59 PM
Deloitte Releases U.S. Hospitality Performance Review NEW YORK, Jan. 26 - What: “Hospitality Vision: U.S. Performance Review” When: Available immediately Where: http://www.deloitte.com/us/HospitalityVision Details: The global tourism industry saw a significant slowdown in most world regions in 2008—- particularly…
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Comments • Posted on Jan 26, 2009 - 01:59 PM
CHICAGO- 20 Jan. - The weak economy hasn’t just reduced restaurant traffic; it has influenced diners’ choices in entrees. Many consumers are bypassing beef for less expensive proteins like chicken, says Darren Tristano, EVP at foodservice consultants Technomic. When ordering beef, and especially steak, explains Tristano, they expect more quality,…
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Comments • Posted on Jan 21, 2009 - 12:17 AM
LONDON, January 14- Britain has become the world’s biggest consumer of imported wine and wine drinking is expected to grow over the next four years despite the economic downturn, says VINEXPO, an authority on wine and organizer of the world’s biggest wine and spirit exhibition. Data compiled…
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Comments • Posted on Jan 14, 2009 - 01:08 AM
LOS ANGELES, Jan. 6 - Spas continued to contribute to the top and bottom lines of U.S. hotels in 2007. Total spa department revenue increased 5.0 percent from 2006 to 2007, while spa department profits grew 5.8 percent. These are among the findings reported in PKF Consulting’s (PKF-C) recently released…
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Comments • Posted on Jan 06, 2009 - 02:58 PM
CHICAGO - 5 Jan, 2009 - A number of top limited-service sandwich chains overcame the downhill economy by exhibiting growth, reports foodservice consultancy Technomic. The new 2008 Technomic Top 100 Limited-Service Sandwich Chains Restaurant Report found that in 2007, Subway added nearly a half billion dollars in revenues and 440…
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Comments • Posted on Jan 05, 2009 - 11:55 PM
WASHINGTON, Dec. 19, 2008 - Restaurant industry sales are expected to reach $566 billion in 2009, with the industry employing 13 million individuals in 945,000 restaurant-and-foodservice outlets nationwide, according to the National Restaurant Association’s 2009 Restaurant Industry Forecast released today. The Forecast projects that while overall restaurant industry sales will…
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Comments • Posted on Dec 19, 2008 - 05:25 PM
TIGARD, Ore., Dec. 18, 2008 - Casual, comfort flavor cues will be driving restaurant trends in 2009, predicts Flavor & The Menu magazine, in its annual selection of Top 10 Flavor Trends. Consulting with a team of restaurant industry experts, Flavor & The Menu’s editors forecast, among other menu trends,…
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Comments • Posted on Dec 18, 2008 - 02:49 PM
ST. LOUIS, Dec. 17, 2008 - With bad news continuing on nearly every economic front, holiday travel remains a tradition—at least among those that can afford it. According to a recent Maritz(R) Poll, wealthier Americans plan to spend, on average, nearly $1000 more this year on holiday travel, compared to…
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Comments • Posted on Dec 17, 2008 - 04:58 AM
ATLANTA, Dec. 10, 2008 - U.S. hotels have entered the initial stages of one of the deepest and longest recessions in the history of the domestic lodging industry. The 7.8 percent drop in RevPAR that PKF Hospitality Research (PKF-HR) is now forecasting for 2009 will be the fifth largest annual…
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Comments • Posted on Dec 10, 2008 - 10:09 AM