Latest Hospitality and leisure industry News

Marcus: Q4 Earnings Snapshot

Feb. 29, 2024 08:21 AM EST

MILWAUKEE (AP) — MILWAUKEE (AP) — Marcus Corp. (MCS) on Thursday reported a loss of $1.4 million in its fourth quarter. The Milwaukee-based company said it had a loss of 5 cents per share. The operator of movie theaters, hotels and resorts posted revenue of $161.5...

Surge in Wendy's complaints exposes limits to consumer tolerance of unstable prices

Feb. 28, 2024 21:45 PM EST

NEW YORK (AP) — Consumers will pay more for a flight to Florida or for a hotel room during peak vacation times. They fork out more for a rush hour Uber ride, perhaps while grinding their teeth, and rely on apps like ParkWhiz or ParkMobile to book spots for their cars at premium prices. ...

Wendy's says it has no plans to raise prices during the busiest times at its restaurants

Feb. 28, 2024 11:27 AM EST

Wendy's says that it has no plans to increase prices during the busiest times at its restaurants. The burger chain clarified its stance on how it will approach pricing after media picked up on comments by CEO Kirk Tanner that the company would test features like dynamic pricing at...

Hong Kong lifts curbs on property market, to spend more on tourism

Feb. 28, 2024 02:30 AM EST

HONG KONG (AP) — Hong Kong’s government has lifted curbs on property deals after home prices fell to a seven-year low, adding to the Chinese territory's woes. Finance minister Paul Chan announced the move in a speech presenting the territory’s budget, which also raised...

Burger chain Wendy's looking to test surge pricing at restaurants as early as next year

Feb. 27, 2024 11:07 AM EST

Wendy's is looking to test having the prices of its menu items fluctuate throughout the day based on demand, implementing a strategy that has already taken hold with ride-sharing companies and ticket sellers. During a conference call earlier this month, Wendy's CEO Kirk Tanner said...

Mohegan tribe to end management of Atlantic City's Resorts casino at year's end

Feb. 26, 2024 19:50 PM EST

ATLANTIC CITY, N.J. (AP) — The Mohegan tribe will end its management of Atlantic City's Resorts casino at the end of this year, both parties said Monday. The move will conclude an agreement the tribe's gambling arm, Mohegan Gaming Advisors, made with Resorts in 2012 six months...

New Jersey beefs up its iconic Jersey Shore boardwalks with $100M in repair or rebuilding funds

Feb. 23, 2024 17:30 PM EST

ATLANTIC CITY, N.J. (AP) — A wooden walkway next to Atlantic City casinos credited as being the first boardwalk in the United States and a similar coastal thoroughfare in the musical home of Bruce Springsteen are among Jersey Shore boardwalks that will share $100 million in repair and...

Playa Hotels: Q4 Earnings Snapshot

Feb. 22, 2024 16:39 PM EST

AMSTERDAM (AP) — AMSTERDAM (AP) — Playa Hotels & Resorts NV (PLYA) on Thursday reported fourth-quarter net income of $1 million. The Amsterdam-based company said it had net income of 1 cent per share. Earnings, adjusted for non-recurring costs, were 4 cents per share. ...

U.S. casinos won $66.5B in 2023, their best year ever as gamblers showed no economic fear

Feb. 20, 2024 18:17 PM EST

ATLANTIC CITY, N.J. (AP) — America's commercial casinos won $66.5 billion from gamblers in 2023, the industry's best year ever, according to figures released by its national trade association Tuesday. The American Gaming Association said that total was 10% higher than in 2022,...

A record-breaking January for New Jersey gambling, even as in-person casino winnings fall

Feb. 16, 2024 17:14 PM EST

ATLANTIC CITY, N.J. (AP) — Four major gambling revenue records were smashed in New Jersey in January as 2024 got off to a rousing start for everything except the thing casinos care about most: the amount of money won from in-person gamblers. Internet gambling revenue, sports...