Small U.S. chains see hungry market for fast food

Article Abstract:

Smaller U.S. restaurant chains, like Bob's Big Boy, are expanding into the growing Asian market with moderate success.

Eating places, Thailand, Restaurant industry, Buildings and facilities, Marriott Corp. Big Boy Restaurant System

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Thistle plans to sell 30 hotels to Lehman

Article Abstract:

Thistle Hotels PLC has reached an agreement to sell 30 of its hotels to Lehman Brothers Holdings Inc. for 66 million pound sterling ($110.2 million). Thistle has 87 hotels. The company had made an unsuccessful attempt at selling itself. Robert Peel has been appointed as the manager of the hotels by Lehman as part of the transaction. Mr. Peel is the former CEO of Thistle. The deal received a lower price than what the majority of analysts had predicted.

Comment:

Thistle Hotels PLC to sell 30 of its hotels to Lehman Brothers Holdings Inc. for 66 million pound sterling ($110.2 million)

United States, Asset sales & divestitures, Acquisitions & mergers, Foreign operations, Hotels & Motels, Hotels (except Casino Hotels) and Motels, Securities & Commodities Services, Securities, Commodity Contracts, and Other Financial Investments and Related Activities, Securities industry, Hotels and motels, Lehman Brothers Holdings Inc., Thistle Hotels PLC

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Rank Group CEO resigns; firm posts 20% profit fall

Article Abstract:

Rank Group PLC CEO Andrew Teare has resigned as the company reported a 20% decline in third-quarter 1998 pretax profit. The media conglomerate Rank Group owns Hard Rock Cafe and its latest poor performance may be an indication that the theme restaurant trend is on the wane. Rank Group continues to experience declining same-store sales and merchandise earnings. Same-store sales in the first nine months of 1998 dropped 10%, while merchandise sales plunged 15%. Rank says third-quarter pretax profit dropped to 111 million pounds sterling, or $185.8 million, while sales increased 3% to 653 million pounds sterling.

Comment:

CEO Andrew Teare resigns as company reports 20% decline in third-quarter 1998 pretax profit

Executive changes & profiles, Rank Group PLC

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