Latest Hospitality and leisure industry News
Olav Thon, billionaire Norwegian real estate developer, dead at 101
OSLO, Norway (AP) — Olav Thon, a billionaire entrepreneur recognizable for his bright red cap who went from selling leather and fox hides in his youth to build one of Norway's biggest real estate empires, has died, his company said Saturday. He was 101. “It is with great sadness...
A $1 billion proposal is the latest plan to refurbish and save the iconic Houston Astrodome
HOUSTON (AP) — The Houston Astrodome has been in limbo, waiting for its chance at a second life since being shuttered more than 15 years ago. It was a technological marvel when it opened in 1965. But its heyday has long passed and it hasn’t been home to a sports team since the...
Restaurants, other services still in grip of high inflation even as overall rate slows
NEW YORK (AP) — While prices for most goods have been falling throughout the year, inflation for a wide range of services remains high. That has put a strain on consumers eating out, servicing their cars and paying for various kinds of insurance. Prices for services rose 3.7% in...
Beyond Meat reverses revenue slide by raising prices on its plant-based products
Beyond Meat reversed a sales slide in the third quarter, growing revenue for the first time since 2022 as it charged higher prices for its plant-based meat. The El Segundo, California-based company said Wednesday its revenue rose 7.6% to $81 million in the July-September period. That...
Playa Hotels: Q3 Earnings Snapshot
AMSTERDAM (AP) — AMSTERDAM (AP) — Playa Hotels & Resorts NV (PLYA) on Wednesday reported a loss of $2.7 million in its third quarter. The Amsterdam-based company said it had a loss of 2 cents per share. Earnings, adjusted for non-recurring costs, were less than 1 cent on a...
Nintendo Chief insists the Switch momentum will keep going, even after its successor
TOKYO (AP) — Japanese video game maker Nintendo’s chief said Wednesday that Switch console sales were still going strong, while he promised its successor is coming. “The momentum of the Nintendo Switch hasn’t stopped,” President Shuntaro Furukawa told reporters. ...
Mexico City’s floating gardens have fed people for hundreds of years. Now they’re threatened
MEXICO CITY (AP) — Cassandra Garduño squinted in the sunlight, her pink boots smudged by dirt as she gazed out over her family's chinampa — one of the islands first built up by the Aztecs with fertile mud from the bottom of a lake that, later drained, would one day become Mexico City. ...
TGI Fridays files for bankruptcy protection as sit-down restaurant struggles continue
Restaurant chain TGI Fridays filed for bankruptcy protection Saturday, saying it is looking for ways to “ensure the long-term viability” of the casual dining brand after closing many of its branches this year. The Dallas-based company's Chapter 11 filing in a Texas federal court...
Wendy's closing 140 more restaurants as part of push to update its locations
Wendy’s plans to close 140 U.S. restaurants before the end of this year on top of the 100 it said it would close in May. But in a conference call with investors Thursday, the company said those closures will be offset by new restaurant openings. Wendy’s said it plans to open...
Tourists toss coins over a makeshift pool as Rome’s Trevi Fountain undergoes maintenance
ROME (AP) — Tourists eager to return to the Eternal City are being forced to toss coins over a plastic barrier and into a small makeshift pool in front of Rome’s Trevi Fountain while the attraction is being drained for maintenance. The rectangular box, unadorned and showing its...
