March 11, 2010
Topics:Industries:
|
Your Travel Franchise News SourceFranchise News Watch brings you the latest in travel franchising news from around the web. As a news aggregator for the travel franchise industry, Franchise News Watch streams the latest ground breaking franchise articles, features, guides, blogs, news and more directly to your desktop.  Travel Franchise NewsWyndham Vacation Ownership Executes First Fee-For-Service Timeshare Sales Model at Myrtle Beach, SC PropertyWyndham Vacation Ownership, a member of the Wyndham Worldwide family of companies (NYSE:WYN), today announced it has entered into an exclusive sales and marketing agreement with Towers on the Grove, LLC. Under this agreement, Wyndham Vacation Ownership... Red Lion Hotels Appoints Richard Carlson Head of Lodging DevelopmentRed Lion Hotels Corporation (NYSE: RLH) announced the appointment of Richard P. Carlson as Vice President – Lodging Development. The newly created position is central to the company's plan for franchise growth in 2010 and beyond. Carlson will lead.. Choice Hotels International Announces New Cambria Suites Hotel in Fort LauderdaleChoice Hotels International, Inc. (NYSE: CHH) today announced that the Cambria Suites hotel in Fort Lauderdale/Dania Beach, Fla. has opened. Cambria Suites hotels are designed for guests who want to take their lifestyle with them when traveling, and... Starwood to Present at the Raymond James 31st Annual Institutional Investors Conference on Tuesday, March 9th, 2010Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) will be making a presentation during Raymond James' 31st Annual Institutional Investors Conference in Orlando on Tuesday, March 9th, 2010 at 9:50am Eastern time. Jason Koval, Vice President... Aloft Hotels Cranks up the Volume on Its Music AgendaAloft(R) Hotels, the new style-at-a-steal brand from Starwood Hotels & Resorts Worldwide, Inc.(R) (NYSE:HOT) that is revolutionizing the select-service hotel category, is cranking up the volume on its music agenda by partnering with one of the year's. Wyndham Resorts Offer Winter Travel Deals, Extra Savings for Loyal MembersDuring one of the busiest travel seasons, Wyndham Hotels and Resorts is offering sun-seekers a variety of getaway offers including free night stays, up to 30 percent discounts at seaside resorts and free night redemptions for half the number... Starwood Hotels & Resorts Names Vasant Prabhu Vice ChairmanStarwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) announced today that the company has named its Chief Financial Officer, Vasant Prabhu, Vice Chairman, in recognition of his extraordinary contributions to the company. Starwood's President and... Whitbread Announces Chief Executive SucessionWhitbread PLC today announces that Andy Harrison has been appointed as its next Chief Executive to succeed Alan Parker who has decided to retire from the company on his 64th birthday, 25 November 2010. Andy will join the company on 1 September as Chief... Hyatt Regency Mission Bay Spa & Marina Names New Director of Food and BeverageThe Hyatt Regency Mission Bay Spa & Marina (HR Mission Bay) has recently appointed Gilbert Santana as the new director of food and beverage. Santana will oversee all facets of the food and beverage division including Red Marlin restaurant... Starwood to Present at the J.P. Morgan 2010 Global High Yield & Leveraged Finance Conference on Wednesday, March 3rd, 2010Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) will be making a presentation during J.P. Morgan's 2010 Global High Yield & Leveraged Finance Conference in Miami on Wednesday, March 3rd, 2010 at 8:45am Eastern time. Jason Koval, Vice Preside Choice Hotels International to Present at the 2010 Deutsche Bank Hospitality and Gaming Conference on March 3, 2010Choice Hotels International, Inc. (NYSE: CHH) today announced that it will be presenting at the 2010 Deutsche Bank Hospitality and Gaming Conference on Wednesday, March 3, 2010 at 8:50 AM EST in New York City. Stephen P. Joyce, president and chief... Ramada Strikes Again! Signs Fourth Management Agreement in BangkokFollowing an announcement last September about its first management agreements in Thailand, Wyndham Hotel Group, the world's largest hotel company with more than 7,100 hotels under 11 brands, today announced the signing of the company's fourth... Hyatt Hotels Corporation Announces Its 2010 Annual Meeting of StockholdersHyatt Hotels Corporation (NYSE: H) announced today that its 2010 Annual Meeting of Stockholders will be held on June 9, 2010 in Chicago, Illinois. The record date for determining the stockholders entitled to vote at the meeting will be April 12, 2010. Candlewood Suites Grows to 50 Locations in TexasIHG (InterContinental Hotels Group) (IHG) [LON: IHG, NYSE: IHG (ADRs)], the world's largest hotel group by number of rooms, announced today that Candlewood Suites will open 13 hotels in Texas by this summer, growing the Texas portfolio to 50 properties. Wyndham Worldwide Corporation Declares Cash DividendWyndham Worldwide Corporation (NYSE: WYN) today announced its Board of Directors declared a cash dividend of $0.12 per share on its common stock, payable March 15, 2010 to shareholders of record as of March 8, 2010. 1 + 1 = FREE Adds Up To Great News for Value Conscious Travelers This SpringHere's a math question that adds up to big value for consumers -- One plus one equals free this spring with the newest travel promotion from global lodging franchisor Choice Hotels International, Inc. ( CHH). When members of the company's Choice... Starwood Hotels & Resorts Goes Live with Global TelePresence Meetings Suites Allowing Guests to Meet Across ContinentsStarwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) unveiled its first in-hotel Cisco TelePresence meeting suites today with a virtual, interactive meeting spanning across two continents. The W Chicago City Center and Sheraton on the Park Sydney are. Budgetel Opens 11 Hotels In First 12 MonthsThe Budgetel brand has opened almost one property a month during its first year under franchising and management by Atlanta-based America's Best Franchising, Inc., making it one of the fastest growing new brands in the hotel industry. Wyndham Worldwide Prices $250 Million of Senior Unsecured NotesWyndham Worldwide Corporation (NYSE:WYN) today announced the pricing of the public offering of $250 million aggregate principal amount of its senior unsecured notes due 2020. The senior unsecured notes offering is expected to close on February 25, 2010. IHG Opens More Than One Hotel Every Day in 2009; A Record 439 Hotels GloballyGlobally in 2009, IHG (InterContinental Hotels Group) [Lon: IHG; NYSE: IHG (ADRs)], the world's largest hotel group by number of rooms, opened a record 439 hotels (more than 55,000 rooms) creating 25,000 new jobs across its seven... Wyndham Exchange & Rentals(SM) to Acquire HoseasonsWyndham Worldwide (NYSE: WYN) today announced that its Exchange & Rentals business unit, the European leader in exclusive marketing of independent holiday accommodation, has agreed to acquire Hoseasons Holdings Ltd, one of the UK's most renowned... Westin Hotels Curates Wellness Store on Amazon.com - Becomes the First Hotel Brand to Launch Online Amazon.com StorefrontToday, Westin Hotels & Resorts announced the launch of the first hotel branded storefront on Amazon.com through the Selling on Amazon program by Amazon Services. Known for its history of innovation and dedication to preserving wellness on the road... Dubai's Iconic Grosvenor House Joins the Luxury Collection Hotels & ResortsStarwood Hotels & Resorts Worldwide Inc. today announced the debut of its renowned Luxury Collection brand in the United Arab Emirates with the addition of Grosvenor House, a Luxury Collection Hotel, Dubai. Located on the exclusive Dubai Marina, the.. Intercontinental New York Times Square Takes Center Stage as the Biggest New Hotel in Manhattan this SummerIHG (IHG) [LON: IHG, IHG (ADRs)], the world's largest hotel group by number of rooms, has begun the countdown to the opening of the newest InterContinental Hotels & Resorts property in Times Square. Slated to open in July, the InterContinental New... Hawthorn Suites by Wyndham Expands to Africa with Nigerian HotelHawthorn Suites® by Wyndham today announced its expansion into Africa with the opening of its newest extended-stay hotel: the 108-room Hawthorn Suites by Wyndham Abuja in Abuja, Nigeria, the country's capital city. Ramada Brand Grows in India with Agreements for Four HotelsWyndham Hotel Group, the world's largest hotel company with more than 7,100 hotels under 11 brands, today announced the signing of four franchise agreements in India, bringing the total number of hotels that the company has open or under development in... Choice Hotels International Promotes Mark Pearce to Senior Vice President, International DivisionChoice Hotels International, Inc. (NYSE: CHH) today announced the promotion of Mark Pearce to senior vice president, international division. Mr. Pearce will continue to report to Bruce Haase, executive vice president, global brands, operations... IHG appointed manager of landmark Vanuatu ResortSouth West Pacific Investments Ltd has appointed IHG (InterContinental Hotels Group) to assume management of its 155-room hotel currently trading as Le Meridian Port Vila, Vanuatu, signing a 15-year agreement commencing 1 March 2010. Holiday Inn in the Walt Disney World Resort OpensHoliday Inn, the most widely recognized and family-friendly hotel brand in the world, will open on Disney property today. The 14-story, 323-room hotel, located on Orlando's Hotel Plaza Boulevard, is the latest property as part of the $1 billion... Starwood Hotels and Resorts Offers Great Travel Deals with Hotel Promotions in Africa this SummerWith football fans converging on South Africa this summer for one of the biggest sporting events in the world, Starwood Hotels and Resorts (NYSE: HOT) has launched an African travel promotion offering discounts of up to 40 percent off best available... Sheraton Hotels & Resorts Extends Global Footprint with $4 Billion in New Developments Through 2012Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) announced today that its global powerhouse, Sheraton Hotels & Resorts, is increasing its worldwide footprint through a strategic expansion that will add approximately 50 new hotels and over 20,0 Choice Hotels International Declares Cash Dividend of $0.185Choice Hotels International, Inc. (NYSE: CHH) today announced that its Board of Directors declared a quarterly cash dividend of $0.185 per share of common stock. The dividend is payable on April 16, 2010 to shareholders of record on April 5, 2010. Choice Hotels Reports Full Year 2009 Adjusted Diluted EPS of $1.71, Domestic Unit Growth of 4.0%Choice Hotels International, Inc. (NYSE: CHH) today reported the following highlights for fourth quarter and full year 2009... Doubletree Opens Tenth Chicagoland Location in Northwest Lake County Suburb of MundeleinDoubletree Hotels has announced the opening of the Doubletree Hotel Libertyville-Mundelein in the northwest Chicagoland suburbs. Conveniently situated within an hour's drive of both Chicago and Milwaukee, the 183-room hotel is located in the Village... Westin Increases Global Footprint in 2010, Opening 14 New HotelsStarwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) announces plans to open 14 new Westin Hotels in 2010. Ramada Brand Continues China Expansion with Development of Four HotelsWyndham Hotel Group, the largest US-based hotel company in China and the world's largest hotel company with more than 7,100 hotels under 11 brands, today announced that it has signed agreements for an additional four hotels in China. Wyndham Worldwide Reports Fourth Quarter and Full Year 2009 Results Company Triples Dividend Payout Resumes Share Repurchase ProgramWyndham Worldwide Corporation (NYSE:WYN) today announced results for the three months and year ended December 31, 2009. Separately, the Company also announced an increase in its quarterly cash dividend and that it plans to resume its share repurchase... Wyndham Worldwide Announces Dividend Increase and Resumes Share Repurchase ProgramWyndham Worldwide Corporation (NYSE: WYN) today announced an increase in the Company's quarterly cash dividend and that it plans to resume its share repurchase program. InterContinental New York Times Square Appoints Hospitality Stars to Open the Largest New-Build Hotel in ManhattanInterContinental Hotels and Resorts announced today the appointment of Andrew (Drew) Schlesinger as general manager and Linda Hodgson as director of sales and marketing for the InterContinental New York Times Square. Currently under construction... Lions, Tigers and Shamu: Family Spring Break Adventure Escape Now at the Hyatt Regency Mission Bay Spa and MarinaGrab the camera, floaties and flip flops and head for the ultimate family destination this spring break at the Hyatt Regency Mission Bay Spa and Marina (HR Mission Bay) in San Diego. Wyndham Brand Expands in Mexico with Monterrey HotelContinuing its expansion in Mexico, Wyndham Hotels and Resorts today announced the opening of the 198-room Wyndham(R) Casa Grande Monterrey. InterContinental Hotels Group opens its first hotel in DenmarkInterContinental Hotels Group (IHG) has opened its first hotel in Denmark with the Crowne Plaza Copenhagen Towers. W Hotels Worldwide Debuts Global Flagship, W Hollywood Hotel & ResidencesW Hotels Worldwide, the hotel category buster and industry innovator, recaptures the spirit of Hollywood glamour with the unveiling of W Hollywood Hotel & Residences. Located at the historic intersection of Hollywood Boulevard and Vine, this $350... Hyatt Hotels Corporation Announces Timing of Fourth Quarter 2009 Earnings Release and Investor Conference CallHyatt Hotels Corporation ("Hyatt") (NYSE: H) announced today that it will release fourth quarter and full year 2009 financial results on Thursday, February 25, 2010, before the stock market opens, followed by an investor conference call at 10 a.m. CST. Starwood Hotels & Resorts Exploring Redevelopment Plan for the Sheraton Manhattan at Times SquareStarwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) announced today a redevelopment plan for the 665-room Sheraton Manhattan at Times Square in New York City. The company is exploring a variety of options to maximize the long-term value of this... Wyndham Hotels and Resorts Expands in Atlanta with New HotelWyndham Hotels and Resorts today announced its continued growth with the opening of the 231-room Wyndham(R) Garden Atlanta Airport South. IHG'S Priority Club(R) Rewards to 'Give Back' Up to 400 Million Loyalty Points in Worldwide 'Luckiest Loser' CompetitionIHG's (InterContinental Hotels Group) Priority Club(R) Rewards, the world's largest hotel loyalty program, today launches its worldwide "Luckiest Loser" competition. In response to the recent increases in the Hilton HHonors(R) hotel... New Year, New Design and New Innovations - Choice Hotels International Unveils New WebsiteLeading worldwide lodging franchisor Choice Hotels International, Inc. (NYSE: CHH) today introduced consumers to its completely re-designed, innovative ChoiceHotels.com website, with easier search features and improved design to satisfy the hotel... Sheraton Hotels & Resorts Launches Multi-Million Marketing Campaign to Support $6 Billion Brand RevitalizationSheraton Hotels & Resorts announced today the launch of a new $20 million dollar, multi-media marketing campaign created to highlight the brand's $6 billion revitalization effort. Launching today, the "Rediscover Sheraton" campaign encourages... Embassy Suites Palmdale Opens DoorsEmbassy Suites Hotels today announced the opening of the Embassy Suites Palmdale, featuring the brand's first Design Option III Prototype build in the state of California. The 30th Embassy Suites in the state, the upscale property is located just off... |
Features & Special ReportsIs it Time for an Operating Cost Audit?: Franchise Tenants Unite!When was the last time you challenged a landlord or property manager about the operating expenses or common area maintenance (CAM) charges? Probably not recently or never, right? To clarify, operating costs are the day-to-day management and maintenance expenses charged to the tenant; examples include asphalt repairs, snow removal, property insurance, and so on. Franchise tenants pay a proportionate share of these costs based on the space they occupy. Therefore, if a franchise tenant occupies 12 percent of a building, he or she will pay for 12 percent of the operating costs. Paying by this said ratio is the industry standard but, of course, there are deviations for special circumstances like free-standing buildings and so on. "Old School" Communication: Cell Phone Texting Builds Customer TrafficConsidering the wide-ranging abilities of today's smartphones, simple text messaging may seem passé, but it's a basic social media tool that's working wonders for Chris Kramolis' franchise operation. He's been using text messages to build business and compile a database of his customers--and he doesn't see any reason to deviate from something that's working. Discovering Oil: Multi-unit Operator Strikes it Rich with Oil Change FranchisesDarrell Lamb remembers toiling away in the heyday of the mid-90s stock market. He was always searching for new investors, and on the lookout for hot investments. One day some of his advisers told him about an opportunity - a chance to invest in the Express Oil Change franchise. He had reason to trust the advisers since they were his uncle, who was president of the company, and his dad, an Alabama optometrist who was always interested in investing in growing ventures. Capital AccessDustin Winkle was a victim of the dot-com crash a few years back. While pondering his next career move, he visited with family members who operated some dry cleaning stores. He liked what he heard and purchased his first Martinizing Dry Cleaners stores six hours away in Yakima, Wash. It was a long commute from his home in Boise, Idaho, but he loved the business. Three years later his family was ready to sell its dry cleaning stores and Winkle was more than happy to buy some units closer to home. Today he operates 10 Martinizing Dry Cleaning stores (and one non-Martinizing unit) in the Boise area. Multi-Tasking: What It Takes To Be A Successful Multi-Unit FranchiseeTwenty years ago, franchising meant buying the rights to and opening a single unit or business. But a changing trend has taken hold during the last two decades. Today, it's not uncommon for a single franchise operator to have 5, 6, or even dozens of units. FRANdata research notes the number of multi-unit operators now tops 34,000, and those operators control more than 155,000 franchised units in the U.S. It's a growth strategy that has proven effective but it should be approached with caution. Multi-unit operators are generally wired differently then their single-unit counterparts. Successful multi-unit operators are typically experienced, skilled, professional business executives who have chosen franchising as their business model. They possess the skills, training, capital, infrastructure, and vision to operate numerous units and have the ability to continue adding units to their portfolio--without stressing their organization or their stomach. Episode 006: The Benefits of a Franchise ModelFranchising provides benefits for both seller and buyer. For franchisors, the primary benefit is the ability to use other people's money to expand the brand more rapidly than they could either on their own or through investors or lenders. The initial franchise fee and ongoing royalties they collect allow franchisors to build their brand without sacrificing control to outsiders or the pressure of repaying lenders. Measure for Measure: Unit Economics Plays a Leading Role on Today's Economic StageThe most fundamental business strategy calls for black numbers on the bottom line. In simplest terms, it's proof the business is generating more cash than it is spending. All too often, though, entrepreneurs get involved in businesses without employing a proper system to help them keep a watchful eye on what they're earning and what they're spending. Managing day-to-day operations can be so time-consuming that it leaves little room for financial analysis. Or perhaps key individuals lack a basic understanding of how to read and interpret financial statements. Combine these factors with the down economy, and you'll likely wind up with a troubled business. Service Based Franchising: Where the Action IsLast week we ended our discussion of service concepts with the point that many of these businesses are based on customers making the choice to trade money (surplus) for time (deficit). The example we used was maid services, where time-starved customers spend money to buy time they can spend with their family and friends. Other examples of businesses built on services that customers could perform themselves but choose to pay someone else for include lawn and landscaping services, residential painting, oil change, and installation of home entertainment systems. Seven Steps to Fiscal Fitness: A "Fiscal Physical" Will Help Your Business Survive, Grow, and ProsperIn the few minutes it takes you to read this article, 40 businesses across the nation will fail--and that statistic was [i]before[/i] the economic downturn of the last 24 months. Tragic? Yes. Remarkable? Not at all. The road to business success is littered with the skeletons of companies whose owners--mostly brilliant and skilled individuals--failed to "take care of business" in the financial management of their enterprise. Service Based Franchising: What Franchisors WantWhen you first consider franchising as a business model, one of the choices that arises is which type of business, in which sector, suits you best. One basic choice is to make is goods or service; another is retail or home-based. In previous months, we've explored ways to find the sector, and the franchisor, most likely to give you the best chance of success. More recently, in the previous four weeks, we've discussed the attributes franchisors look for in franchise candidates in the retail sector and in the home-based sector. Here we apply the same lens to the services sector. Let's begin with the similarities. All franchisors want candidates who follow the system, pay royalties on time, possess marketing skills and savvy, know how to run a business, show leadership and growth potential, are good communicators, and are expansion-minded, community-oriented, and willing to give back to the system. Franchisors look for these skills whether you choose a service, retail, B2B, or other concept.
|