Two of SF’s biggest hotels face a $725 million loan deadline

Two of San Francisco’s biggest hotels, Hilton San Francisco Union Square and Parc 55, face a $725 million loan maturity deadline in November. The owner of Park Hotels said, on an earnings call this week, it is exploring all options for the properties, including potentially giving them up to their lenders. The company could also extend the loan deadline. “All options are being explored, and we hope to have this resolved by the summer,” said Thomas Baltimore Jr., chairman and CEO of Park Hotels. “If we were hypothetically to give back the keys, there’s a forgiveness of debt. The income…
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Best New Hotel Openings in the World: Announcing the 2023 Hot List Winners

1 San Francisco Hotels Safe New York Ambiente, a Landscape Hotel, Sedona Conrad Los Angeles Her Place Supper Club, Philadelphia Hotel Chelsea, New York City Hotel Per LA Koji Club, Boston LaSemilla, Atlanta Life House, Berkshires, Massachusetts The Loren at Lady Bird Lake, Austin The Madrona, Sonoma mak-‘amham/cafe ohlone, Berkeley, California Mayfair House, Miami Masalawala and Sons, New York City Museum of Broadway, New York City Nine Orchards, New York City Place des Fetes, New York City The Pinch, Charleston Ritz Carlton Nomad, New York City Porcupine Creek Sensei, Rancho Mirage, California Stanley Ranch, Auberge Resorts Collection, Napa ThompsonDenver Ulysses,…
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The Best New Beach Hotels in the World: 2023 Hot List

Nothing makes us more excited to get up and go than putting together our annual Hot List of the best new hotels, cruises, restaurants, cultural destinations, and transportation projects. Now in its 27th year, this curated collection is a labor of love for our global team, which spends the year researching, visiting, and vetting the entries to you a definitive directory of places whose style, ethos, and service set new standards for hospitality. This year’s best beach hotels—made for reading in the shade and afternoon swims—are sure to make everyday stresses disappear. All that’s left is for you to decide…
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How to apply for Restaurant Strong Fund’s $2.6 million in grants

Growing a small business comes with a heap of responsibilities and costs. The restaurant industry is expanding at a fast pace, and at Grubhub, we are committed to helping all restaurants grow. The Greg Hill Foundation’s Restaurant Strong and Grubhub’s Community Fund are partnering to further aid small business restaurants with the Restaurant Strong Grant. The Restaurant Strong Grant will provide $1.25 million to small business restaurants. This 2023, there will be multiple grants awarded, ranging from $5,000 – $25,000. Funds are intended to help restaurants maintain fund infrastructure, update technology and equipment owners, create incentive wages and anything else…
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Social Media Holidays Your Restaurant Marketing Can’t Miss

There are thousands of restaurants in the United States serving up dishes from juicy hamburgers to steamy ramen and everything in between. Depending on the specific area, consumers may have dozens or even hundreds of restaurants to choose from. So how are diners deciding where they’ll ultimately eat? It turns out there are lots of reasons consumers might choose a particular restaurant. About one-third of people consider guest reviews, and some 90% check out restaurants online before dining there. It’s hard to pinpoint what exactly each potential guest is looking for, but it’s likely a combination of these factors: Does…
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How to franchise a restaurant like a pro

When you run a successful restaurant, it’s not uncommon to receive franchising requests. The prospect can be attractive — allowing other people to open restaurants under your brand brings in more profit without the work and risk of running other locations yourself. Before you make the decision to franchise a restaurant, be sure to understand the process, the advantages and disadvantages. What is a franchise? A franchise is a type of business where a company owner, or franchisor, licenses their company name and brand to other people. These franchisees open their own locations with support from the parent company. In…
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What you need to know about restaurant accounting

Restaurant accounting is a uniquely complex process. Financial transactions pass through a variety of employees, including hosts, servers and bartenders. With all these inputs, a comprehensive accounting process is a must for restaurant owners — it helps you maintain accuracy, stay legally compliant and maximize profits. Importance of efficient restaurant accounting Restaurant accounting is the process of recording, monitoring and analyzing a food-service company’s financial transactions. A solid accounting system tracks the restaurant’s finances, providing a clear picture of the health of the business. Efficiency is critical, especially in the restaurant industry — restaurants often operate on tight profit margins,…
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