ReportWire

Tag: hotels

  • ‘The Fed will take comfort from moderating job growth’ — economists react to July’s employment report

    ‘The Fed will take comfort from moderating job growth’ — economists react to July’s employment report

    [ad_1]

    The July jobs report on Friday showed the U.S. economy gained 187,000 jobs last month, with the unemployment rate dipping to 3.5% from 3.6%.

    Economists polled by The Wall Street Journal had expected an addition of 200,000 jobs and unemployment staying at 3.6%.

    See: U.S. adds 187,000 jobs in July

    Below are some initial reactions from economists and other analysts, including their views on what the jobs report means for the Federal Reserve as the central bank considers how to proceed with interest-rate hikes. U.S. stocks
    ES00,
    +0.48%

    SPX
    looked set to trade up modestly following the data on nonfarm payrolls.

    • “The Fed will take comfort from moderating job growth, but will continue to fret about the tight labor market. So far, the July employment and CPI reports are a wash for the Fed’s September 20 decision (we expect no change in rates), placing extra pressure on the August releases to add some clarity.” — Sal Guatieri, senior economist at BMO Capital Markets, in a tweet

    • “This month’s slow job growth is a sign the economy is continuing to cool; while a negative in some senses, this is a positive indicator for the Fed and may soon end its interest rate hikes. … Moving forward, we anticipate the unemployment rate will remain low.  We also expect unemployment will rise to its natural long-run rate of 4.5% over the next two years.” — Steve Rick, chief economist at TruStage, previously known as CUNA Mutual Group, in a note

    • “Since bad news is good news these days, Jay Powell will be smiling this morning, if not entirely happy. The below consensus reading in hiring in the July payrolls is the type of labor market softening the Fed is looking for. … But there were some more mixed elements in the report as well. The unemployment rate ticked down a notch to 3.5% and average nominal wages grew 0.4% for the second consecutive month. The Fed will continue to be looking for a broader set of data and will be focused on a further deceleration in prices before throwing in the towel for September.” — Ali Jaffery, economist at CIBC, in a note

    • “The wage data is stronger than the payroll data, suggesting that demand for labor is still robust, and that the slowing pace of hiring is more due to a lack of supply of labor. [Average hourly earnings] rose 0.4% in July, same as May and June. AHE Y/Y was steady at +4.4%. This, combined with the firmer household survey data, should keep the Fed on their toes for another rate hike as soon as next month, but the [consumer price index] data next week will have a big influence in that decision as well.” — Thomas Simons, U.S. economist at Jefferies, in a note

    • “If you were to write the script of what a soft landing looks like, this is it. Payrolls grew a strong +187k, signaling a slower yet still strong — and more sustainable —pace.” — Justin Wolfers, University of Michigan economics professor, in a tweet

    [ad_2]

    Source link

  • Starbucks sees a big rebound in China, but results fail to impress investors

    Starbucks sees a big rebound in China, but results fail to impress investors

    [ad_1]

    Shares of Starbucks Corp. fell after hours Tuesday after the coffee chain reported third-quarter same-store sales that missed expectations, despite a big rebound in China.

    The coffee chain reported fiscal third-quarter net income of $1.14 billion, or 99 cents a share, compared with $912.9 million, or 79 cents a share, in the same quarter last year. Adjusted for restructuring and impairment costs, Starbucks earned $1 a share.

    Revenue rose 12.5% to $9.17 billion, compared with $8.15 billion in the prior-year quarter. Same-store sales rose 10% worldwide, with a 7% gain in North America. Those same-store sales jumped 24% internationally, with a 46% gain in China.

    Analysts polled by FactSet expected Starbucks
    SBUX,
    -0.31%
    to report adjusted earnings per share of 95 cents, on revenue of $9.29 billion and same-store sales growth of 11%.

    Operating margins rose to 17.3%, from 15.9% a year ago, with higher prices and productivity offset by greater spending on employee wages and benefits.

    Shares slipped 1.2% after hours on Tuesday. Shares of Starbucks are roughly where they were at the beginning of the year.

    Starbucks executives over the past year have said that amid stubborn inflation, customers see coffee as an affordable luxury worth treating themselves to. But Wall Street has struggled to find a reason to push the stock higher amid questions about trends in North America and slowing same-store sales in the years ahead, as well as China’s uneven economic recovery as it shakes off pandemic restrictions.

    UBS analysts said that demand in the U.S. was likely still “solid.” But they said that the focus would be on demand in China. Quo Vadis analyst John Zolidis, meanwhile, said that along with China, investors had been focused on the chain’s efforts to set up more drive-through locations in the U.S., and any benefits from higher-priced cold drinks and customizable orders.

    The coffee chain also continues to fight with its unionized employees. Bargaining has stalled. Last month, unionized workers accused Starbucks of banning Pride-themed decorations. Starbucks aggressively denied those allegations.

    [ad_2]

    Source link

  • Am I being tricked into overtipping when I eat out? Should I tip before or after sales tax is added?

    Am I being tricked into overtipping when I eat out? Should I tip before or after sales tax is added?

    [ad_1]

    Dear Quentin,

    I’ve read your previous responses to letters on tipping, and my thoughts are simple: Tipping is dependent on the service given. I won’t tip at a deli counter, but I will tip more in a diner. I see no reason to tip a deli counter person on a regular basis. The person who rings up my groceries isn’t allowed to accept tips, and they do a lot more than put a sandwich in a bag.

    As far as restaurants go, 15% is the starting point and I will go up from that as warranted. I do tend to tip a high percentage in diners. The waitstaff there are generally fabulous, deal with lower price points and a varied clientele. I feel they also suffer from customer bias where some people seem to think it’s only a diner not a fancy restaurant.

    “‘Helping others is not always through money. I volunteer my time with several charities and donate blood.’”

    The job is the same whether my meal is $10 or $100. I try to pay in cash to ensure the waitstaff is promptly getting their tip, and to ensure that the money does indeed go to the wait staff. Are we expected to tip on a total that includes credit-card charges? What’s more, helping others is not always through money. I volunteer my time with several charities and donate blood.

    What troubles me is that throughout the New York City metro area, tipping recommendations in restaurants are based on faulty calculations. My friends and I all agree that tips are supposed to be based on the price of the meal — that is the subtotal or pre-tax figure. Restaurants frequently encourage people to tip on the final amount. 

    A Fair Tipper

    Related: I’m sick and tired of tipping 20% every time I eat out. Is it ever OK to tip less? Or am I a cheapskate? 

    Dear Fair,

    Yes, yes, yes, and yes. 

    Yes, wait staff in diners work as hard as any restaurant worker, and they deserve whatever your optimum tip — 15% or 20% — and as much as you would tip in a white-tablecloth restaurant. Yes, consumers should not be expected to tip in a deli — unless you have a good relationship with the staff, and you tip occasionally for goodwill. If you choose to “skip” the charity donation in a pharmacy, that’s OK too. Yes, donations and tips are increasingly being conflated, and that’s not always a good thing. We should be comfortable with the charity and 100% sure that the donation is going to the charity in question. 

    And your main point: Yes, tipping on the subtotal before tax and before credit-card charges is absolutely fair, although a lot of people — especially when calculating the tip among friends — tip on the after-tax total. Why? Perhaps we don’t want to be seen splitting hairs over the tax among friends and/or in front of a service worker who has given us exemplary service. Calculating tips is often done under pressure, and no one likes to be seen as a cheapskate. I almost always tip on the total amount, knowing that the sales tax is included, primarily because I figure that extra $1 or more is going to the person who served my table.

    My colleague, MarketWatch news editor Nicole Pesce, put together a guide for how much you should tip everyone, and who you should NOT tip. She also cited three reasons why tipping has become such a note of contention, and why it appears we are tipping more: people tipped staff more during the pandemic (they were, after all, putting their health and lives at risk with their jobs); 40-year high inflation over the last 12 months has increased the cost of everything and, as such our tips rose in tandem with prices; and, finally, digital tipping appears to be ubiquitous, and people have been suffering from tipping fatigue. 

    “‘You’re not the only one: Americans are souring on tipping.’”

    You’re not the only one with tipping fatigue, though: Americans are generally souring on tipping. A large majority (66%) of U.S. adults have a negative view about tipping, according to a poll released by the personal-finance site Bankrate last month. The bottom line: consumers feel they are being forced to compensate employees for low pay (41%) and they don’t appreciate all that digital guilt tipping (32%) and, as a result, they believe that tipping culture has gotten out of control (30%). Respondents also said they were confused about how much to tip (15%), but a small minority (a paltry 16%) said they would be willing to pay higher prices in lieu of tipping.

    People appear to be less generous with their tipping amounts, and they also appear to be tipping less often. What’s perhaps most surprising from Bankrate’s research is that only 65% of diners actually tip when they eat out (that’s down from 73% last year). After restaurants, people are most likely to tip barbers/hairdressers (53% of those polled) and food-delivery workers (50%). From thereon, only a minority of people say they tip taxi or rideshare drivers (New York City cabs, which give tipping options upon payment, may be an outlier here), hotel housekeepers, baristas and food-delivery workers.

    It’s important that we have this conversation about tipping because expectations and digital tipping methods are evolving all the time. On the one hand, people are facing higher prices and they are understandably feeling under pressure to tip. On the other hand, this conversation naturally overlaps with the working conditions and pay of service workers. Americans are tipping less than they did during the worst days of the pandemic. Service workers — along with medical personnel, bus and train drivers and first responders — were among the heroes of the pandemic. That is something I hope we never forget.

    “The person who rings up my groceries isn’t allowed to accept tips, and they do a lot more than put a sandwich in a bag,” the letter writer says.


    MarketWatch illustration

    Also read:

    ‘I respect every profession equally, but I feel like so many people look down on me for being a waitress’: Americans are tipping less. Should we step up to the plate? 

    ‘We’re very upset!’ We gave a friend $400 concert tickets and $2,000 Rangers seats, but weren’t invited to his wedding. Do we speak up?

    ‘All of these tips add up’: If a restaurant adds a 20% tip, am I obliged to pay? Should tipping not be optional? 

    [ad_2]

    Source link

  • ELLE Escapes: Ibiza

    ELLE Escapes: Ibiza

    [ad_1]

    Everything you’ve heard about Ibiza is true. It’s a lovely, exotic escape where late dinners turn into deep conversations that lead to unplanned club visits at midnight, despite the fact that the party doesn’t really start until 3 A.M. While the Spanish island’s nightlife is undoubtedly legendary, it has so much more to offer. Thanks to the five-star Ibiza Gran Hotel, I was able to get a closer look at its rich culture, gastronomy, and arts, as well as a trip to its sister island, Formentera, to learn about ocean conservation efforts. Here’s what to see, as well as where to eat, drink, and stay.

    What to See

    Vellmarí Diving Center

    Courtesy Vellmari Association

    Manu San Félix, a National Geographic photographer and marine biologist, founded the Vellmarí Diving Center to promote conservation research and marine education. After a scenic boat ride to Formentera, you’ll dive into the Mediterranean Sea to learn about the Posidonia, possibly see an animal or two, and gain a better appreciation of our seas and oceans.

    Maria B. Ceramics

    maria b ceramics

    Courtesy of Maria B. Ceramics

    You must (must!) visit Maria Sejas Balda’s studio to see her one-of-a-kind creations in person. After discovering her passion for ceramics just a few years ago, the artist’s work can now be found in places like Ibiza’s Michelin-starred restaurant La Gaia (more on that below). Each of her handcrafted pieces has a unique feature that sets it apart from the others. You won’t regret finding room in your suitcase for at least one item to bring home.

    Dalt Vila

    dalt villa

    Jaime Reina/AFP/Getty Images

    This UNESCO World Heritage site, also known as Ibiza’s old town, is one of the most beautiful places you’ll ever see, hands down. I highly recommend walking instead of driving. Its ancient structures, cobblestone streets, and breathtaking views are worth the extra steps. (Remember to wear comfortable shoes.)

    Lita Bustier

    Charo Ruiz Lita Bustier

    Now 26% Off

    Paola Short Skirt

    Charo Ruiz Paola Short Skirt

    Now 37% Off

    The Matilde Due

    Where to Eat

    La Gaia by Óscar Molina

    la gaia

    Courtesy of Ibiza Gran Hotel

    Upscale dining awaits you at Ibiza Gran Hotel’s flagship restaurant, La Gaia by Óscar Molina. Local raw materials and natural resources are at the forefront of its creative offerings. You can opt for a one delicious meal, but may I suggest you try a bit of everything? Chef Óscar Molina, one of the best chefs in Spain, and his team put together mouth-watering tasting menus that will take you on a unique culinary journey like you’ve never had before. After all, there’s a reason why the restaurant has a Michelin star and two suns from the Repsol Guide. PSA: leave room for dessert.

    Finca La Plaza

    finca la plaza

    Courtesy of Finca La Plaza

    Some people may be tempted to gatekeep Finca La Plaza, but I’ve got you covered. The romantic lighting, rustic vibes, and its location at the center of Santa Gertrudis are perfect for a great conversation over a good meal. This gem offers new dishes every two weeks, seasonal ingredients, and a carefully selected wine list to keep your heart content.

    Zuma Ibiza

    zuma, ibiza gran hotel

    Courtesy of Ibiza Gran Hotel

    Zuma has locations all over the world, including Ibiza. The contemporary Japanese cuisine is designed to be shared, and the moody ambience is the perfect backdrop for casual dining and drinking. Book a table where you can take in the breathtaking views of Dalt Vila.

    Iride Jersey Mini Dress

    Pucci Iride Jersey Mini Dress

    Double Gancio Mini Bracelet Watch

    Ferragamo Double Gancio Mini Bracelet Watch

    Rum Pump

    Where to Drink

    Beachouse Ibiza

    beachhouse ibiza

    Courtesy of Beachhouse Ibiza

    It’s a beach, restaurant, and bar all in one. What more could you want? Beachouse Ibiza is a place where you can easily lose track of time, so plan accordingly. Aside from the Mediterranean cuisine, the wines and cocktails are excellent. You can sip your drink from a beach bed or on the open-air terrace.

    Club Chinois

    club chinois

    Rusne Draz

    When you envision Club Chinois, think of good drinks and a disco ball at the center of the dance floor. The team behind London’s iconic Park Chinois brought this intimate and exclusive nightclub to life. Grab a table behind the DJ for a night to remember.

    Pacha

    pacha nightclub

    ZOWY VOETEN

    Is an Ibiza travel guide complete without mentioning the island’s legendary Pacha nightclub? It’s been unmatched for decades, pioneering all things dance and culture in the area. The euphoric energy alone will keep you awake way past your bedtime (trust me).

    Lumière Multi-Ring Bralette Top

    Oséree Lumière Multi-Ring Bralette Top

    Oséree Metallic-Effect V-Neck Dress

    Oséree Oséree Metallic-Effect V-Neck Dress

    Natalia Pleated Knot Platform Sandals

    Loeffler Randall Natalia Pleated Knot Platform Sandals

    Now 22% Off

    Where to Stay

    Ibiza Gran Hotel

    ibiza gran hotel

    Courtesy of Ibiza Gran Hotel

    If you look up luxury and wellness in the dictionary, there’s a good chance you’ll see an image of Ibiza Gran Hotel. It’s packed with details that make it impossible to duplicate. Take, for instance, the property’s exclusive art pieces, some of which hang from the ceiling in the lobby. The loft-style suites are designed to make you feel at ease, from a spacious living area to an indoor jacuzzi, and you can dial it back even more with an experience at Open Spa, the hotel’s wellness center. If you’re planning a special trip, ask the staff about the spectacular Gran Suites for ultra-luxe accommodations.

    Mikasa Ibiza

    mikasa ibiza

    Courtesy of Island Hospitality

    Holistic living is at the core of Mikasa Ibiza. Guests are encouraged to follow an environmentally-friendly routine, and its restaurant features exclusively plant-based bites. Each of the 16 rooms is designed to feel like a mini retreat inspired by the seasons and different moons.

    Casa Pacha Formentera

    casa pacha

    Salva Lopez for Pacha Group

    Enjoy a stay at Casa Pacha if you’re hoping to recharge on Ibiza’s sister island of Formentera. Its essence thrives on simplicity, with each room boasting a stunning view of the Mediterranean Sea. Whether you’re hoping to stay active by participating in exercise classes or stay cool by the beach bar, there’s something for everyone here.

    Speed Sunglasses

    Alo Yoga Speed Sunglasses

    Swim Long Sleeve Bikini Top

    SKIMS Swim Long Sleeve Bikini Top

    Swim Ruched Mini Skirt

    SKIMS Swim Ruched Mini Skirt

    Beauty Picks

    Aire Anthesis Eau de Parfum

    Loewe Aire Anthesis Eau de Parfum

    The whimsical Spanish fashion brand may be known for its quirky clothes; however, it makes standout signature fragrances, too. Anthesis is an aquatic scent that mixes florals, pear, rhubarb, and finishes off with sandalwood for a light but distinct summer fragrance—perfect for lounging at the beach or partying the night away.

    PANG PANG Big Sun UV Shield Cushion

    ELROEL PANG PANG Big Sun UV Shield Cushion

    While Ibiza is all sun and fun, ensure you protect your skin from those UV rays. This product is a cushion that allows you to apply SPF 50 easily over your makeup by pressing it in. It’s a win-win situation—your makeup stays intact and you are protected from the summer sun.

    Youth-Boost Peptide Serum

    Goop Youth-Boost Peptide Serum

    New to the market, this peptide serum is sure to perk up your skin. It improves hydration, elasticity, and firmness while combatting dark spots, dullness, and minimizing the appearance of pores, too.

    Headshot of Carine Lavache

    Senior Social Media Editor

    Carine oversees the social media strategy for ELLE.com. When she isn’t scrolling through social feeds, you can find her binge-watching a show on Netflix, meditating, or baking something she hopes will turn out amazing. 

    [ad_2]

    Source link

  • ‘I was outraged’: Our restaurant bill was $35 each, but our friend wanted to pay $22 for a gluten-free dish. Who’s right?

    ‘I was outraged’: Our restaurant bill was $35 each, but our friend wanted to pay $22 for a gluten-free dish. Who’s right?

    [ad_1]

    Dear Quentin,

    I went for dinner with six friends last weekend, and we each ordered entrees and desserts, and some side orders. One of our group only eats gluten-free food, so he ordered two starters. We split the bill, and it worked out at $36 each. But our gluten-free friend cried foul, and asked for a separate check to pay $22 for his gluten-free dish. I was outraged — and almost felt physically sick. I kicked my husband under the table, and said under my breath, “Can you believe that?’

    Can you believe it? Do you think he should have just paid the $35 instead of asking for a separate check? Adding insult to injury, he left the waiter a $10 tip. Why not just pay $35 like everyone else? I told my husband I was never going for dinner with him again. Don’t you think he should have just paid $35 like everyone else? It was a big crowd. If everyone did that, you’d need a forensic accountant to figure out how many breadsticks someone ate. 

    We otherwise had a nice evening, and it was a bring-your-own-bottle restaurant. I work as a teacher and my husband works in tech. We own a home together and have three kids. Our gluten-free friend is a freelance consultant, and is divorced with two kids. He had a very privileged upbringing. I worked hard for everything I have. I’m not saying any of us are rich, but when we go out to eat, we like to share and share alike, and split the bill down the middle. 

    When did eating out become so full of these cringeworthy moments?

    Equal Bill Splitter

    Dear Equal,

    I’m sorry to say that the most cringeworthy moment here happened when you kicked your husband under the table. I’m not a big fan of under-table communication in a group, and while we could debate the pros and cons of asking for a separate check for a $13 difference, I don’t think there’s much of a gray area when it comes to calling someone out at the dinner table, especially when your eye-rolling and disapproval could be picked up by the other guests.

    As far as your friend is concerned, $13 is a lot of money to pay when you did not eat all the food that was ordered by the table. Maybe it doesn’t seem like it to you or anyone reading this column, but your friend is divorced with two kids, and works as a freelancer — so let’s assume his income is not always stable. Could he have just split it down the middle and paid $35 and another 15% or 20% for a tip? Sure. But he has good financial boundaries. I applaud him.

    The real issue here may go back to your respective upbringings, and could explain your dramatic — and I would argue disproportionate reaction — to your friend asking for a separate $22 check. You’ve worked hard, and maybe your friend had an easier start in life, but that doesn’t mean he’s not entitled to pay for what he ate, and watch every dollar. Divorce is like a recession. You can end up struggling to get back on your financial feet for years.

    Perhaps your friend had always intended to pay $22 for his gluten-free dish, and tip the server 50%, or perhaps he has a well-trained side eye and caught your reaction to his paying for his own order, and he decided to pay closer to what everyone else had paid. But ordering separate checks, I suspect, will become more common as prices continue to rise, even at a slower pace, and people feel uncertain about spending money in restaurants. 

    You believe in equality of bill splitting. I suggest you apply that equality to all dinner guests, regardless of upbringing and dietary restrictions, and allow them to make their own choices about what they pay for at dinner. People often have problems — financial or otherwise — that we are not aware of, so try to leave space for that. And if your friend did see your eye-rolling and under-the-table antics? I’d like to think he made space for your behavior too.

    Readers write to me with all sorts of dilemmas. 

    By emailing your questions, you agree to have them published anonymously on MarketWatch. By submitting your story to Dow Jones & Co., the publisher of MarketWatch, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.

    The Moneyist regrets he cannot reply to questions individually.

    More from Quentin Fottrell:

    I had a date with a great guy. I didn’t drink, but his wine added $36 to our bill. We split the check evenly. Should I have spoken up?

    ‘I’m living paycheck to paycheck and I feel drained’: My fiancé said he would pay half of the mortgage. Guess what happened next?

    ‘We live in purgatory’: My wife has a multimillion-dollar trust fund, but my mother-in-law controls it. We earn $400,000 and spend beyond our means.

    [ad_2]

    Source link

  • The Best Mom & Pop Travel Experiences in the U.S. | Entrepreneur

    The Best Mom & Pop Travel Experiences in the U.S. | Entrepreneur

    [ad_1]

    Entrepreneur asked Yelp to dig into its data, to reveal which ones America loved the most. Together we created America’s Favorite Mom & Pop Shops, a list of 150 local, independently owned and operated businesses across 10 categories — including, yes, hotels, B&Bs, and travel.

    To see every category, as well as the methodology behind the list, click here. Below are the 15 companies included in the hotel, B&Bs, and travel category.

    Note: Some businesses may have multiple locations. Only one location is listed for each.

    1. The Vine House Bed & Breakfast

    Temecula, CA

    Company website | Yelp page

    Located in the middle of wine country, this family-operated bed and breakfast is a real hit among travelers. It is within one mile of seven different award-winning wineries, making for great accommodations for anyone looking to experience the best wineries in a relaxing space.

    The rooms are accommodated with king size beds, fireplaces and gourmet breakfasts. Vineyard view patios are also an option. The property backs up to a 10-acre vineyard.

    Cheryl R. writes on Yelp, “It is spectacularly gorgeous. The rooms are so spacious and the amenities are top notch. You do not get a bad room at this place!”

    2. The Chadwick Bed & Breakfast

    Portland, ME

    Company website | Yelp page

    This home was built in 1891 and converted into a bed and breakfast over 40 years ago. The Portland, Maine area has so much to do that travelers can use the property as a retreat at the end of a long day or use the property itself as a vacation getaway. The classic architecture, the food served, and the surroundings on the premises are a vacation in and of itself.

    Breakfast seems to be a resounding hit among reviewers of this property. Kim B. notes on Yelp that when it comes to the servings, “Not a detail was forgotten.” In fact, nearly every review on Yelp notes how fantastic the breakfast is.

    3. Horseshoe Bend Slot Canyon Tours

    Page, AZ

    Company website | Yelp page

    Taking you into the heart of the Navajo nation, this touring company will get you out to the legendary Secret Antelope Canyon and Horseshoe Bend Overlook. Plus, there’s an option for Horseshoe Bend rafting for those that are up to it.

    These are some of the most scenic overlooks in the entire United States, and group tours are kept below 15 people to make them more personal. Christopher Y. notes on Yelp, “If you want plenty of time to explore, learn about Navajo culture from a local and truly experience the sights you want to see, this is the tour to do!”

    4. Spoke and Vine Motel

    Palisade, CO

    Company website | Yelp page

    This motel is the creation of a husband-and-wife team with backgrounds in hospitality and property management. They have renovated an old roadside motel building to create an entirely new, hip experience for patrons. They’ve recently opened a motel bar as well, featuring great cocktails and local drinks.

    Travelers rate this spot in the Grand Valley very highly, noting that it is within walking distance of wine, beer, mead and everything else this area of Colorado has to offer. In particular, reviewers love the beds and the fact that coffee and breakfast are brought to each room every morning.

    5. The Motor Lodge

    Prescott, AZ

    Company website | Yelp page

    Located just blocks from Courthouse Square and Whiskey Row, this boutique hotel is earning rave reviews as a must-stay in the Prescott-area. With the feel of an old roadside motel, there are just 13 rooms at the establishment. Each room is unique.

    Rooms have shared and private patios, which earn high marks from travelers. Reviewers note that they like the establishment’s funky and retro vibes, as well as its proximity to historic downtown Prescott. Lyndsey E. writes on Yelp, “Staying at this motor court felt like a step back in time with modern amenities.”

    Related: How to Impress Guests in a Changing Hospitality Industry

    6. FivePine Lodge & Conference Center

    Sisters, OR

    Company website | Yelp page

    Earning AAA’s 4 Diamond rating, this classic-style lodge stands out above the rest in the area. Each cabin (there are also rooms in the main lodge) is accommodated with a king-sized bed, a waterfall soaking tub, fireplace, private balcony/patio and a complimentary hosted wine reception. The gourmet breakfast also earns high marks.

    Additionally, reviewers love the gourmet coffee and tea service, as well as the on-site athletic club, spa, moviehouse and fine dining. There’s access to bicycles for exploring the surrounding area, as well as access to hiking trails.

    7. Everglades River of Grass Adventures

    Miami, FL

    Company website | Yelp page

    Everglades River of Grass Adventures has been earning top-tier reviews since 2012. Visitors love the small, custom airboats they use to explore the Everglades and surrounding area — where alligator-spotting in pretty much guaranteed.

    These tours will take you deep into the Everglades, giving you glimpses of unique wildlife and plants in the process. Reviewers note the awe of enjoying this area of the country’s unique great outdoors, as well as the tour guides’ friendly lessons.

    Jilly B. on Yelp says that her family “had the best time learning about the native species and the unique ecosystem” and called it ” the best hands-on nature study we have ever done.”

    8. Ray’s Bucktown B&B

    Chicago, IL

    Company website | Yelp page

    Located just outside of downtown Chicago, Ray’s Bucktown B&B offers the chance to experience the Windy City’s legendary Wicker Park/Bucktown area. It’s also just a few blocks from Logan Square.

    The building offers 11 unique rooms, as well as a sauna. The location is modeled after small European hotels. You’ll be hard-pressed to find a review that doesn’t mention the establishment’s cooked-to-order breakfast that is served every morning. There is unique decor throughout, reflecting the owner’s global travels, as well as some nods to the local history of Chicago.

    9. The Roxbury

    Roxbury, NY

    Company website | Yelp page

    An extremely unique location near the Catskills, The Roxbury is an experience in and of itself. Called “one of the most amazing hotels in the entire country” by HGTV, and featuring themed rooms and suites, the establishment aims to wow their customers the minute they open the door to their room.

    The Roxbury’s website says that “if you do not at least smile (and hopefully sometimes gasp) when you open the door to your room, then we have not done our job.” Judging by the feedback from customers, they are succeeding. The terms “enchanted” and “magical” are commonplace in traveler reviews on Yelp and Trip Advisor.

    10. Blue Swallow Motel

    Tucumcari, NM

    Company website | Yelp page

    Located on historic Route 66, this establishment wants to give its guests an experience of what it was like to travel on the road back in the 1940s and 1950s. You experience history here in a building that was originally built in 1939. It features vintage furniture and decor in the restored rooms, as well as neon signs outside and garages attached to each room.

    The Blue Swallow earns high marks from travelers who have stayed during their Route 66 adventures. Erin C. on Yelp notes, “The rooms are adorable and retro furnished. The neon lights and evening vibe cannot be beat.

    Related: How This Husband-and-Wife Team Grew a B&B Empire

    11. Savannah Taste Experience

    Savannah, GA

    Company website | Yelp page

    Take a trip through historic Savannah via a three-hour walking and tasting tour. During this experience, customers will see the cultural landmarks, architecture and historic sites of the city while also indulging in some of the best food that is part of the local tradition.

    Reviewers like that the tour groups are kept to a manageable size — 12 people or less — which makes it easy to hear the tour guide and partake in all the activities. They also like how well-versed the tour guides are in the history of the city, and say they learn lots of information in an engaging and entertaining way.

    12. Desert Pearl Inn

    Springdale, UT

    Company website | Yelp page

    Near the Virgin River and Zion National Park, the Desert Pearl Inn is a great location for a retreat or romantic getaway. It’s built inside a deep canyon, meaning you can enjoy stargazing at night and great outdoor activities during the day.

    Guests view red rock formations along the river outside of their room. And what about the room itself? You will be surrounded by stone walkways and stucco, with framing done via Douglas fir and redwoods that were taken from a 100-year-old railroad trestle that used to cross the Great Salt Lake.

    Reviewers love the balconies, clean amenities and the ability to walk to your destinations.

    13. Rachael’s Dowry Bed & Breakfast

    Baltimore, MD

    Company website | Yelp page

    This highly rated bed and breakfast is in Baltimore’s Ridgely’s Delight neighborhood, and is walking distance from the inner harbor. It is surrounded by homes built in the 18th and 19th centuries, allowing visitors to experience history in an immersive way.

    The home was originally built by a brick baron, and George and Martha Washington were once hosted here in 1798. Reviewers love how quiet the neighborhood is, along with the home’s beautiful gardens, parlor room and library (with complimentary tea), and the two-course gourmet breakfast.

    14. Bobby’s Bike Hike – Chicago

    Chicago, IL

    Company website | Yelp page

    Bobby’s Bike Hike was created out of a love of travel — and family. It was founded by Jeremy Lewno, who grew up in Arkansas and spent his twenties traveling Europe. Then he moved to Chicago in 2002 and created Bobby’s, which he named after his late father, who operated a tour bus and taught his son a love of travel.

    Today, Bobby’s remains a great way to see the city up close and enjoy the 18 mile lakefront while being environmentally and culturally conscious. In addition to bicycle tours, the company also offers walking and food tours. Or you can just rent a bike from them and be on your way to take in everything on your own.

    15. SevenOaks

    Lake Geneva, WI

    Company website | Yelp page

    Want to get away from the kids, and enjoy a quiet retreat with your partner? That’s very specifically what SevenOaks is for. It’s a couples-only bed and breakfast, where couples can recharge just minutes from the shore of Lake Geneva in southeastern Wisconsin.

    Guests who stay here are presented with their own private cottage. Reviewers love the relaxation and privacy that this ensures, as well as the personalized touches upon arrival such as the chalkboard outside with the guest’s name on it. Reviewers also note how much they appreciate the clean amenities, complimentary wine, crackers, and daily breakfast that is brought to each cottage.

    Related: 10 Ways Small Businesses Can Give Back Without Breaking the Bank

    [ad_2]

    Entrepreneur Staff

    Source link

  • Montauk hotel trades for $15M | Long Island Business News

    Montauk hotel trades for $15M | Long Island Business News

    [ad_1]

    The 27-room boutique hotel is on .66 acres.

    [ad_2]

    David Winzelberg

    Source link

  • Don’t Mess Up These 2 Crucial Customer Service Moments | Entrepreneur

    Don’t Mess Up These 2 Crucial Customer Service Moments | Entrepreneur

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    Everything is not equal in the customer journey; customers don’t remember their time with you in an even-handed, equitable way. Rather, there are moments in their customer journey that are disproportionately likely to define how they remember the customer service you’ve provided them. How you treat customers in these moments will disproportionately lead them to have a negative, neutral or — if you nail these moments — supremely positive impression of their time with you.

    As a customer service consultant and turnaround expert, I prefer that you get every single moment in the customer journey right! But if I have to choose, here are the two specific moments I want you to focus on right now because getting these right will give you an enormous advantage over your less-attentive competitors.

    What the Ritz-Carlton knows (and you need to learn)

    Did you ever notice how, when you stay at a Ritz-Carlton hotel (if you haven’t yet, I suggest you head off on a junket!), they have everything supremely polished and choreographed for the moment you arrive at the beginning of your stay? The valet greets you when they take your car, the bell staff already know your name, and everyone you encounter goes out of their way to make you immediately feel welcome.

    Also, when you’re leaving the hotel, they send you off warmly, perhaps even with the GM or hotel manager coming down to thank you and wish you a good journey.

    These two points, the beginning of the customer interaction and the ending, are emphasized at Ritz-Carlton’s and at other customer-focused companies because they’re the two moments in the customer journey that are nearly guaranteed to remain in the memories of your guests more than any others, perhaps for life.

    Related: How to Turn an Upset Customer Into Your Company’s Best Advocate

    Two scientific effects you need to learn

    The primacy effect — The fact that first impressions are lasting impressions is called the primacy effect.

    The recency effect —The fact that final impressions are also disproportionately influential is called “the recency effect.” another well-demonstrated psychological effect. (Together, these are known as “the serial position effect,” which is a scientifically verified, well-proven psychological phenomenon.)

    Thus, these are two critical moments in the customer’s journey to be sure you get right because of how prominently they are likely to figure out how your customers remember their time interacting with your company.

    How to nail step one: the warm welcome

    Use a welcoming tone of voice. Put down anything distracting you, whether from a prior customer or something else you’ve been working on. (The worst impression you can give a customer is that they’re interrupting the work. Truly, they are the reason for your work!)

    Make eye contact in person or what you could call “voice contact” on the phone: displaying a similar focus that can truly be picked up on audio. And smile as you greet the customer, whether in person or on the phone.

    Can customers tell if you’re smiling over a phone line?

    Of course, they can! Smiling unlocks all that beautiful treble in your voice.

    When you smile, it changes your vocal tone in a very easy way to pick up, even within the limited audio range of a phone line. Some veteran call center professionals even use tape or Velcro® to affix a compact mirror at eye level in their workspace to remind them to smile every time they pick up the phone. (I know this is dorky, but it works.)

    Now there is an exception to always smiling. If you’re talking with a guest telling you disappointing news, please don’t smile!

    Related: How to Use the Least Sexy Customer Service Channel to Get Your Cash Registers Ringing

    The exact words you should use when answering every customer call

    Since the telephone is often where the customer makes the first contact with your company — or at least the first contact with a human — let me tell you what I recommend as far as the actual specific words you should use when you pick up the phone.

    The best way to answer a ringing phone is with a greeting that includes all four of the following elements. (This is easier than it sounds, as you’ll see when we get to the examples.)

    1. A greeting
    2. A business identification
    3. A self-identification
    4. An offer of assistance

    Example 1:

    Good morning, (The greeting)

    Business [X]. (The business identification)

    This is [Jerry]. (Identifying yourself.)

    How may I help you? (Your offer of assistance.)

    Example 2:

    Thank you for calling (The greeting.)

    Business [X]. (The business identification.)

    This is [Jerry]. (Identifying yourself.)

    How may I help you? (The offer of assistance.)

    Related: 4 Simple Ways to Communicate Better With Your Customers

    How to bid goodbye to your customer at the end

    The other scientifically proven moment to matter disproportionately is the closing of service, the fond farewell. Ask if anything else is needed, if there’s anything else you can help them with. Offer a personal farewell. “It’s been great working with you, Jim; I will see you back here on Thursday. I’ll call you if anything changes.” Invite them to call on you for assistance in the future if that’s appropriate to the situation.

    Also, try not to rush the caller as they approach the end of their time with you. It’s easy to be so relieved that you have resolved things on this call, or to get distracted by what you have coming up next, that you speed things up unattractively.

    But don’t miss out on an opportunity to turn an ending into another scientifically proven “unfair advantage.” Refrain from rushing off to the next task on your list. Instead, take an extra moment (really! It’s only a difference of 5-10 seconds) to bid each customer a genuine and personalized farewell. Spending that additional minute, or even a handful of seconds, can have a significant payoff for you in terms of how your company is remembered by customers who have interacted with you.

    [ad_2]

    Micah Solomon

    Source link

  • Cava Group’s stock soars 11% as analysts start coverage on a bullish note

    Cava Group’s stock soars 11% as analysts start coverage on a bullish note

    [ad_1]

    The stock of Mediterranean-style fast-casual restaurant chain Cava Group Inc. soared 11% Monday, after analysts initiated coverage on the stock which made its debut on public markets in mid-June with a flurry of buy ratings.

    At least four of the banks that were underwriters on the initial public offering — JP Morgan, Stifel, William Blair and Jefferies — assigned the stock a buy rating or the equivalent.

    FactSet shows one bank has a hold rating but it’s a restricted listing so it’s not clear who it’s from.

    The company
    CAVA,
    +8.04%
    raised $317 million in its initial public offering, which priced above its proposed range at $22 a share and immediately rallied on opening. The company issued 14.4 million shares at a valuation of $2.45 billion. The stock was last trading at $43.83.

    See also: Like choosy shoppers at a retail store, IPO investors are demanding discounts and displaying price sensitivity

    The company is not profitable and has high cash burn and just $23 million in cash and cash equivalents on its balance sheet, according to its IPO filing documents.

    But analysts were unfazed, with William Blair analysts calling it a clear leader in a fast-growing category with proven geographic appeal.

    “CAVA has hit upon a winning formula with its customizable menu of bowls and pitas featuring bold Mediterranean flavors that can fit in any dietary preference,” wrote analysts led by Sharon Zackfia.

    “CAVA’s customer appeal is evident in average unit volumes (AUVs) of roughly $2.5 million and a 44% five-year revenue CAGR through 2022.”

    The company accelerated its growth with the 2018 acquisition of Zoës Kitchen, “which provided immediate access to attractive real estate in new markets while enabling capital-efficient densification in top-tier trade areas (Zoës conversions roughly half the cost of a typical greenfield CAVA),” they wrote.

    That has set the company up to end 2023 with roughly triple the number of locations as it had in 2020.

    William Blair estimates that there’s room for at least 1,200 domestic Cava restaurants based on the population per restaurant already achieved in Virginia, where it’s still adding locations.

    That supports management’s target of 1,000-plus locations by 2032.

    “We also see the potential for digital drive-thrus to further lengthen CAVA’s growth runway while lifting AUVs (and potentially returns), with about one-third of this year’s new units having drive-thrus, ramping up to about half in 2024 (versus roughly 20 drive-thrus today),” they wrote. William Blair initiated coverage with an outperform rating.

    JP Morgan launched coverage with an overweight rating and a December 2024 $45 stock price target. Analysts cheered the entrepreneurial sprit of Founder and CEO Brett Schulman with help from Chairman Ron Shaich, the founder of Panera Bread.

    “In-store design/operational procedures and back-end support for the network allows CAVA to be efficient, safe and consistent as the brand leverages these systems for its goal national brand penetration,” they wrote in a note to clients.

    Mediterranean cuisine covers many types of food and occasions, so the end-market is large, topping out at more than $1 trillion in U.S. sales.

    While bowl builds priced at $10.95 to $16.95 will likely limit a high frequency of lower-income consumers, “we believe the brand has an enduring appeal to a very broad customer base for at least occasional usage.”

    And suburbs are 82% of the site mix and are expected to remain a key location base, they added.

    Stifel and Jefferies analysts initiated coverage with a buy rating and $48 price target. Stifel analysts led by Chris O’Cull also cheered the wide appeal of the food and compelling unit-level returns and highlighted the company’s healthy balance sheet.

    “The company is in strong financial condition with no funded debt and roughly $340M in cash on hand following the company’s IPO,” they wrote in a note to clients. “We project the company’s average quarterly cash balance will remain above $200M with no funded debt for the foreseeable future. We project positive annual free cash flow starting in 2026.”

    Still, not everyone is convinced the company is a buy. David Trainer, chief executive of New Constructs, an independent equity research firm that uses machine learning and natural-language processing to parse corporate filings and model economic earnings, published a series of critical reports before the IPO.

    Trainer questioned Cava’s ability to reach profitability and its high valuation. He even compared it to WeWork 
    WE,
    +5.80%    ,
     the infamous startup created by Israeli entrepreneur Adam Neumann, that at its peak was valued at $47 billion, but is now trading at just 26 cents a share, or a market cap of $521 million.

    The Renaissance IPO ETF 
    IPO,
    +0.52%
     has gained 32% in the year to date, while the S&P 500 
    SPX,
    -0.07%
    has gained 15%.

    For more, see: Fast-casual restaurant chain Cava Group’s IPO documents raise some red flags: analyst

    Read now: Cava Group CFO is confident restaurant chain will be profitable—but she won’t say when

    Related: 5 things to know about the fast-casual Mediterranean restaurant chain Cava

    [ad_2]

    Source link

  • ‘This is the best possible jobs report’ — economists react to June employment data

    ‘This is the best possible jobs report’ — economists react to June employment data

    [ad_1]

    The June jobs report on Friday showed the U.S. economy gained 209,000 jobs last month, with the unemployment rate dipping to 3.6% from 3.7%.

    Economists polled by The Wall Street Journal had expected an addition of 240,000 jobs and an unemployment rate of 3.6%.

    See: Jobs report shows 209,000 gain in June — smallest increase since end of 2020

    Below are some initial reactions from economists and other analysts, including their views on what the jobs report means for the Federal Reserve as the central bank considers how to proceed with interest-rate hikes. The main U.S. stock indexes
    SPX,
    -0.29%

    DJIA,
    -0.55%

    COMP,
    -0.13%
    traded mixed following the data on nonfarm payrolls, also called NFP.

    • “This is actually a great number. This is a number that is something we can sustain. We can’t sustain adding 300,000, 400,000, 500,000 jobs a month. We need to see it slow. It’s doing exactly what it needs. If we’re going to have a soft landing, this is what it looks like. So I don’t think that we should make too much of this number being bad. But I do think that the Fed train is rolling toward another rate hike, but I wouldn’t put my money on a second one yet.” — Betsey Stevenson, economics professor at the University of Michigan and a former Obama White House economist, in a CNBC interview

    Related: July Fed rate hike remains largely priced in, expectations for September or November hike soften somewhat

    • “In a sense, this is the best possible jobs report, then, threading the needle between too strong and too weak. People should be happy to see decent job growth and decent wage growth. The Fed can take pleasure in slowing momentum and wage growth stabilizing rather than rising, while bond traders can breathe a sigh of relief there is no sign of the strength picked up by ADP yesterday. It is win, win, win.” — Chris Low, chief economist at FHN Financial, in a note

    • “The 209,000 rise in non-farm payrolls in June was the weakest gain since December 2020 and suggests labor market conditions are finally beginning to ease more markedly. That said, it is unlikely to stop the Fed from hiking rates again later this month, particularly when the downward trend in wage growth appears to be stalling.” — Andrew Hunter, deputy chief U.S. economist at Capital Economics, in a note

    • “Overall, the cooling in hiring is a welcome development, but the pace is still above growth in the working-age population, and combined with continued wage pressures and the drop in the unemployment rate, this leaves the Fed on track to hike rates by 25 [basis points] in both July and September.” — Katherine Judge, senior economist at CIBC, in a note

    • “Black unemployment went up to 6.0% for June, and is a statistically significant change from 5.0% in March. So while the employment rate is historically high, there is still room for growth. (As always when we’re talking about historical exclusion & discrimination).” — Kate Bahn, economist and research director at WorkRise, which is affiliated with the Urban Institute, in a tweet

    • “The markets maybe made too much of the ADP number, as that has shown to be not always exactly a great indicator. … The labor market is cooling, but marginally. Most importantly, though, the average hourly earnings number suggests still some firming in that space, and that’s where the Fed has been primarily focused. So for me, this is maybe a little lighter, but not a dramatic change in terms outlook and expectations.” — Roger Ferguson, former Fed vice chair, in a CNBC interview

    Now read: Part-time work surged in June as hours cut back, U.S. jobs report says

    [ad_2]

    Source link

  • This Bud’s for investors. Buy the stock even if Bud Light sales never recover, says analyst.

    This Bud’s for investors. Buy the stock even if Bud Light sales never recover, says analyst.

    [ad_1]

    The summer haze settling over stocks doesn’t look ready to budge Thursday, with the S&P 500 index
    SPX,
    -0.52%
    in the throes of its longest losing streak since May.

    On the bright side, the index is looking at a 6% gain for the June quarter, whose end is just a few days away.

    In other corners of the market, the quarter has been less forgiving. Consumer staples, those things you can’t live without, have lost over 1%, perhaps reflecting the tougher economic times we are living in. Within that sector, though, is beer and one name that has indeed had a quartarius horriblis.

    Anheuser-Busch InBev’s
    ABI,
    +1.82%

    BUD,
    -0.05%
    U.S.-listed shares are down about 15%, as Bud Light sales have tumbled following consumer backlash to a social-media campaign featuring trans activist Dylan Mulvaney in April.

    But our call of the day from Deutsche Bank says it’s time to buy this unloved stock, even if those Bud Light sales never recover. A team of analysts led by Mitch Collett have upgraded Anheuser-Busch shares to buy from hold and lifted their price target to €60 euros from €59 euros (they didn’t offer an ADR price target).

    Recent underperformance of the stock “implies a permanent reduction in ABI’s U.S. business. Our proprietary survey data suggests these headwinds are likely to fade even if we do not expect the U.S. business ever to fully recover from its current challenges,” said Collett.

    The analysts pointed to recent Nielson data that showed ABI’s U.S. business currently down 12%, with Bud Light sales off 24% and the rest of its portfolio down 7%. But an analysis of distribution data shows ABI itself isn’t “losing shelf presence” as sales velocity is the primary driver of the decline, which bodes well if consumer sentiment improves, said Deutsche Bank.

    Those declines are about a 12% headwind to ABI’s annual net income, which is in line with European underperformance seen by the stock, added Collett and the team.

    Read: Bud Light dethroned as top-selling beer by Modelo, as boycott cuts into sales

    Deutsche Bank conducted its own survey that showed 24% of Bud Light consumers are no longer buying that brand, with 18% buying less, but 21% buying more and 37% buying the same amount. Those findings are largely consistent with Nielson;s, said the analysts.

    Deutsche Bank’s own survey also showed that 42% of Bud Light drinkers expect to be buying Bud Light again in three to six months, versus 29% who see that as unlikely. And 50% expect that battered beer’s reputation will recover in time, versus 30% who says it won’t. “We believe this bodes well for the brand, recapturing some of its lost share,” said Collett and the team.

    Analysts at RBC Capital also recently pushed back on the selloff for the stock, saying the hit to the shares and forecasts for the stock are “excessive,” as they don’t see Bud Light’s troubles hurting AB InBev outside the U.S.. They said AB InBev is a “nerve-racking buying opportunity.”

    Ahead of Thursday’s open, U.S.-listed Bud shares were up about 1.3%, tracking gains from its Belgian shares.

    The markets

    U.S. stock index futures
    ES00,
    -0.25%

    YM00,
    -0.27%

    NQ00,
    -0.31%
    are drifting lower, with bond yields
    TMUBMUSD02Y,
    4.730%

    TMUBMUSD10Y,
    3.743%
    on the rise and oil prices
    CL.1,
    -1.82%
    also weaker. The Norwegian krone
    USDNOK,
    -0.80%
    is up 1.5% against the dollar after the country’s central bank hiked interest rates 50 basis points. Switzerland also hiked rates, but the Swiss franc is steady
    USDCHF,
    +0.12%    .
    The British pound
    GBPUSD,

    is higher after the Bank of England also hiked interest rates by 50 basis points. The Turkish lira was falling slightly after the central bank, under new management, hiked interest rate to 15% from 8.5%, against forecasts for a hike to 20%.

    China markets were closed for a holiday, with losses elsewhere, such as Japan
    NIK,
    -0.92%
    and Australia
    XJO,
    -1.63%    .

    For more market updates plus actionable trade ideas for stocks, options and crypto, subscribe to MarketDiem by Investor’s Business Daily.

    The buzz

    Federal Reserve Chair Jerome Powell’s second day of testimony on Capitol Hill kicks off at 10 a.m. Eastern. On Wednesday, he said higher interest rates should be expected , but didn’t offer any clues on timing. U.S. weekly jobless benefit claims and current account data are due at 8:30 a.,m. ET, with leading indicators also at 10 a.m., alongside a speech from Cleveland Fed President Loretta Mester. Richmond Fed President Tom Barkin will speak at 4:30 p.m.

    The Bank of England will announce an interest-rate decision at 7 a.m. ET and after worse-than-expected inflation data on Wednesday, a 50 basis-point hike hasn’t been ruled out.

    Darden Restaurants
    DRI,
    +0.36%
    will report ahead of the open, with Smith & Wesson
    SWBI,
    +0.52%
    due after the close.

    Tesla stock
    TSLA,
    -5.46%
    is down 2% in premarket trading on the heels of the EV maker’s worst loss in two months.

    Joining recent actions by other big stakeholders cashing in on big gains for Nvidia
    NVDA,
    -1.74%    ,
    a board member just sold $51 million in stock.

    Best of the web

    Amazon allegedly duped people into subscribing to Prime and made it nearly impossible to cancel. Here’s how the feds say they did it.

    The Biden administration is reportedly exploring whether it can mount a campaign against Chinese tech giants like Alibaba and Huawei.

    A giant drilling machine is moving Stockholm toward an emissions-free future

    Wife of missing Titanic exploring sub pilot Stockton Rush is reportedly a descendant of two first-class passengers who died on the ship.

    The tickers

    These were the top searched tickers on MarketWatch as of 6 a.m. :

    Ticker

    		 Security name
    TSLA,
    -5.46%         		Tesla
    MULN,
    +24.24%         		Mullen Automotive

    NVDA,
    -1.74%         		Nvidia
    AMC,
    -1.31%         		AMC Entertainment
    APE,
    -2.30%         		AMC Entertainment preferred holdings
    NIO,
    -2.99%         		Nio
    PLTR,
    -7.28%         		Palantir Technologies
    MANU,
    +1.11%         		Manchester United
    SPCE,
    -4.99%         		Virgin Galactic Holdings
    AAPL,
    -0.57%         		Apple

    Random reads

    Are Elon Musk and Mark Zuckerberg ready for a cage match?

    It’s summertime. Let your kids get bored.

    Tokyo streets now offer the chance to snuggle an alpaca

    Need to Know starts early and is updated until the opening bell, but sign up here to get it delivered once to your email box. The emailed version will be sent out at about 7:30 a.m. Eastern.

    Listen to the Best New Ideas in Money podcast with MarketWatch reporter Charles Passy and economist Stephanie Kelton.

    [ad_2]

    Source link

  • Cava Group CFO is confident restaurant chain will be profitable — but she won’t say when

    Cava Group CFO is confident restaurant chain will be profitable — but she won’t say when

    [ad_1]

    Cava Group, the Mediterranean-focused fast-casual restaurant chain that’s making its trading debut on Thursday, is confident it has access to enough funding to expand its business and make a profit, according to Chief Financial Officer Tricia Tolivar.

    But Tolivar declined to provide a timeline to profitability in an interview with MarketWatch.

    The…

    [ad_2]

    Source link

  • Mediterranean fast-casual restaurant chain Cava prices IPO at $22 a share

    Mediterranean fast-casual restaurant chain Cava prices IPO at $22 a share

    [ad_1]

    Mediterranean fast-casual restaurant chain Cava Group on Wednesday priced its initial public offering of 14.4 million shares at $22 a share, up from a prior range, giving the company a valuation of roughly $2.45 billion.

    Shares are expected to begin trading Thursday on the New York Stock Exchange with the ticker symbol CAVA.

    The rapidly-growing…

    [ad_2]

    Source link

  • ‘Taco Tuesday’ is for everyone, argues Taco Bell. Taco John’s says it owns the trademark to the phrase.

    ‘Taco Tuesday’ is for everyone, argues Taco Bell. Taco John’s says it owns the trademark to the phrase.

    [ad_1]

    CHEYENNE, Wyo. (AP) — Declaring a mission to liberate “Taco Tuesday” for all, Taco Bell is asking U.S. regulators to force Wyoming-based Taco John’s to abandon its longstanding claim to the trademark.

    Too many businesses and others refer to “Taco Tuesday” for Taco John’s to be able to have exclusive rights to the phrase, Taco Bell asserts in a U.S. Patent and Trademark Office filing that is, of course, dated Tuesday.

    It’s the latest development in a long-running beef over “Taco Tuesday” that even included NBA star LeBron James making an unsuccessful attempt to claim the trademark in 2019.

    “Taco Bell believes ‘Taco Tuesday’ is critical to everyone’s Tuesday. To deprive anyone of saying ‘Taco Tuesday’ — be it Taco Bell or anyone who provides tacos to the world — is like depriving the world of sunshine itself,” the Taco Bell filing reads.

    A key question is whether “Taco Tuesday” over the years has succumbed to “genericide,” New York trademark lawyer Emily Poler said. That’s the term for when a word or phrase become so widely used for similar products — or in this case, sales promotions — they’re no longer associated with the trademark holder.

    Well-known examples of genericide victims include “cellophane,” “escalator” and “trampoline.”

    “Basically what this is about is you cannot trademark something that is ‘generic,’ ” Poler said. “That means it doesn’t have any association with that particular source or product.”

    Basketball legend James — a well-known taco lover — encountered this problem when he tried to trademark “Taco Tuesday” in 2019. The Patent and Trademark Office, in a ruling that didn’t refer to Taco John’s, deemed “Taco Tuesday” too much of a “commonplace term” to qualify as a trademark.

    With more than 7,200 locations in the U.S. and internationally, Taco Bell — a Yum Brands
    YUM,
    -2.45%
    chain along with Pizza Hut, KFC and the Habit Burger Grill — is vastly bigger than Cheyenne-based Taco John’s. Begun as a food truck more than 50 years ago, Taco John’s now has about 370 locations in 23 mainly in western and midwestern states.

    The chain’s size hasn’t discouraged big-time enforcement of “Taco Tuesday” as trademark, which dates to the 1980s. In 2019, the company sent a letter to a brewery just five blocks from its corporate headquarters, warning it to stop using “Taco Tuesday” to promote a taco truck parked outside on Tuesdays.

    Actively defending a trademark is required to maintain claim to it, and the letter was just one example of Taco John’s telling restaurants far and wide to stop having “Taco Tuesdays.”

    Taco John’s responded to Taco Bell’s filing by announcing a new two-week Taco Tuesday promotion, with a large side of riposte.

    Press release: Ring the Bell! Every Day is Taco Tuesday® at Taco John’s

    “I’d like to thank our worthy competitors at Taco Bell for reminding everyone that Taco Tuesday is best celebrated at Taco John’s,” CEO Jim Creel said in an emailed statement. “We love celebrating Taco Tuesday with taco lovers everywhere, and we even want to offer a special invitation to fans of Taco Bell to liberate themselves by coming by to see how flavorful and bold tacos can be at Taco John’s all month long.”

    The filing is one of two from Taco Bell involving “Taco Tuesday.” One contests Taco John’s claim to “Taco Tuesday” in 49 states, while a similar filing contests a New Jersey restaurant and bar’s claim to “Taco Tuesday” in that state. Both Taco John’s and Gregory’s Restaurant and Bar in Somers Point, N.J., have been using “Taco Tuesday” for over 40 years.

    A Taco John’s franchisee in Minnesota first came up with “Taco Twosday” to promote two tacos for 99 cents on a slow day of the week, Creel told the Associated Press in a recent interview.

    The Patent and Trademark Office approved the Taco John’s “Taco Tuesday” trademark in 1989. Even with its many letters, Creel said, the company — established in 1969 in Cheyenne, Wyo. — has never had to go to court over the phrase.

    He’s not feeling too picked on, either, by the much bigger Taco Bell. “It’s OK. It’s kind of nice that they’ve noticed,” Creel said.

    From the archives (January 2022): Taco Bell takes taco subscription program nationwide

    [ad_2]

    Source link

  • Fanatics to buy PointsBet’s U.S. sports-betting business for $150 million

    Fanatics to buy PointsBet’s U.S. sports-betting business for $150 million

    [ad_1]

    Fanatics Inc. will buy the U.S. operations of Australia’s PointsBet for about $150 million, in the company’s largest foray yet into sports betting.

    PointsBet
    PBH,
    -18.70%
    announced the deal Sunday night, specifying that the acquisition only applies to PointsBet’s U.S. assets, not its businesses in Australia and Canada. CNBC first reported the deal. Fanatics did not immediately reply to MarketWatch’s request for comment Sunday night.

    PointsBet is an online sportsbook that launched in the U.S. in 2019, and operates in 15 states, including New Jersey, Iowa, Illinois and Colorado.

    “Despite the strategic success building a valuable asset in the U.S., the costs of operating in a state-by-state environment, together with the requirement to build significant scale to compete against well capitalized operators, led us to explore a number of options,” PointsBet Chief Executive Sam Swanell said in a statement. “The sale of the U.S. Business to Fanatics Betting and Gaming delivers the most attractive risk-adjusted value outcome for shareholders compared to the risks and benefits of other options including the status quo.”

    PointsBet shareholders are expected to vote on the sale at their annual meeting in late June.

    The deal should increase pressure on U.S. sports-gambling companies such as DraftKings Inc.
    DKNG,
    -1.96%
    and FanDuel. In late April, Fanatics launched sportsbook wagering for its customers in Ohio and Tennessee, and the Wall Street Journal reported at the time that the company pans to invest about $1 billion in its new sports-betting division.

    In an interview, Fanatics CEO Michael Rubin told the Journal he wants Fanatics to be the world’s top sports-betting company within the next 10 years, and expects its betting operations to be profitable by 2025 or 2026.

    In December, Florida-based Fanatics — which got its start in sports apparel and collectibles — closed a $700 million funding round, valuing it at about $31 billion, the Wall Street Journal reported. The privately held company is expected to eventually launch an IPO.

    Last year, Fanatics acquired trading-card company Topps.

    [ad_2]

    Source link

  • Airbnb stock falls sharply on cautious forecast and as record bookings miss estimates

    Airbnb stock falls sharply on cautious forecast and as record bookings miss estimates

    [ad_1]

    Nights booked on Airbnb Inc. hit a record high in the first quarter as more guests traveled overseas and returned to cities, leading to the company’s first profitable start to the year on record, executives announced Tuesday.

    But executives’ forecast was less bullish, even though they expect a strong summer travel season and second-quarter revenue growth. They cautioned that growth in nights and experiences booked will be “unfavorable” compared with the year-ago quarter, when there was a surge in travel demand as fears about…

    [ad_2]

    Source link

  • Hotel housekeeping jobs have fallen by 102,000 during the pandemic. What happened?

    Hotel housekeeping jobs have fallen by 102,000 during the pandemic. What happened?

    [ad_1]

    As some U.S. hotels hung on to practices they adopted during the early stages of the coronavirus pandemic — such as eliminating daily room cleanings — the number of hotel housekeepers fell by more than 102,000 last year from prepandemic levels, new data show.

    The total number of hotel housekeeping jobs as of May 2022 was 364,990, a 22% decline from the total of 467,270 such positions during the same period in 2019, according to numbers released last week by the Bureau of Labor Statistics.

    Unions…

    [ad_2]

    Source link

  • ‘We don’t ask for spring break in our city’: Miami Beach officials impose curfew after two fatal shootings amid nightly chaos

    ‘We don’t ask for spring break in our city’: Miami Beach officials impose curfew after two fatal shootings amid nightly chaos

    [ad_1]

    MIAMI BEACH, Fla. (AP) — Miami Beach officials imposed a curfew beginning Sunday night during spring break after two fatal shootings and rowdy, chaotic crowds that police have had difficulty controlling.

    The city said in a news release the curfew would be from 11:59 p.m. Sunday until 6 a.m. Monday, with an additional curfew likely to be put in place Thursday through next Monday, March 27. The curfew mainly affects South Beach, the most popular party location for spring breakers.

    The release said the two separate shootings Friday night and early Sunday that left two people dead and “excessively large and unruly crowds” led to the decision. The city commission plans a meeting Monday to discuss potential further restrictions next week.

    Miami Beach Mayor Dan Gelber said in a video message posted Sunday that the crowds and presence of numerous firearms has “created a peril that cannot go unchecked” despite massive police presence and many city-sponsored activities meant to keep people busy.

    “We don’t ask for spring break in our city. We don’t want spring break in our city. It’s too rowdy, it’s too much disorder, and it’s too difficult to police,” Gelber said.

    The latest shooting happened about 3:30 a.m. Sunday on Ocean Drive in South Beach, according to Miami Beach police. A male was shot and died later at a hospital, and officers chased down a suspect on foot, police said on Twitter. Their identities were not released, nor were any possible charges.

    In the Friday night shooting, one male victim was killed and another seriously injured, sending crowds scrambling in fear from restaurants and clubs into the streets as gunshots rang out. Police detained one person at the scene and found four firearms, but no other details have been made available.

    Under the curfew, people must leave businesses before midnight, although hotels can operate later only in service to their guests. The city release said restaurants can stay open only for delivery and the curfew won’t apply to residents, people going to and from work, emergency services and hotel guests. Some roads will be closed off and arriving hotel guests may have to show proof of their reservations.

    Last year, the city imposed a midnight curfew following two shootings, also on Ocean Drive. The year before that, there were about 1,000 arrests and dozens of guns confiscated during a rowdy spring break that led Miami Beach officials to take steps aimed at calming the situation.

    [ad_2]

    Source link

  • Japanese Spa Rarely Changed Water, Deadly Bacteria Found | Entrepreneur

    Japanese Spa Rarely Changed Water, Deadly Bacteria Found | Entrepreneur

    [ad_1]

    If you are skeeved out by hotel jacuzzis, here’s some fuel for tonight’s nightmares.

    Makoto Yamada, the president of a company that owns the 158-year-old Daimaru Besso inn in Japan, apologized after health inspectors discovered that the property only changed the water in its spa bath twice a year — and that it was swarming with potentially deadly bacteria.

    We’ll pause to let you shiver or scream in horror.

    If twice a year sounds a little bit on the minimal side, that is because it is. CNN Travel reports that local regulations require the water to be changed on a weekly basis. (Which, honestly, still sounds pretty gross to us.)

    The bath in question is called an onsen, which uses water from volcanically heated hot springs. In a press conference, Yamada bowed deeply in shame and said, “I am very sorry.”

    The inspectors found legionella bacteria in the water, which can cause Legionnaires’ disease. Legionnaires’ is a kind of pneumonia that infects the lungs after droplets of water containing it as inhaled. It is treatable with antibiotics, but a far cry from the Inn’s website promising that the “soft and smooth waters leave your skin feeling supple and your mind at ease.”

    Related: This Overnight Worker Documents His Daily Duties of Napping, Netflix and Swimming

    And, wow, there was a lot of it. CNN affiliate TV Asahi reported that inspectors found legionella bacteria at 3,700 times the acceptable level. That is, well, unacceptable.

    In his press conference, Yamada claimed that he was surprised by the inspection’s findings: “I was not aware of the law myself and thought that legionella bacteria was a common bacterium that could be found anywhere, and also that it was safe because the large baths were free-flowing so the water was changed quite often.”

    Then he added that the bath managers didn’t add chlorine to the water on purpose “because we selfishly disliked the smell of chlorine.”

    We’re going to go ahead and suggest that Mr. Yamada stop talking, grab a mop and turn on the sump pump. And when that bath is scrubbed clean? Go ahead and fill it with some volcanic-heated Purell.

    Related: A 25-Year-Old Built a ‘Tiny Hotel’ in Texas That’s Generated $500,000 in Bookings this Year. Check Out the $3.1 Million Property.

    [ad_2]

    Dan Bova

    Source link

  • These 20 stocks led the January rally

    These 20 stocks led the January rally

    [ad_1]

    The initial version of this story had incorrect price changes for 2023. It is now updated with information as of the market close on Jan. 31.

    Investors staged a January rally, with solid gains for the S&P 500 and an even better showing for technology stocks that led the dismal downward action in 2022.

    This…

    [ad_2]

    Source link