Industry: Accommodation & Food Services
News
Nov. 14, 2017

Canadian behemoth franchisor MTY Food Group Inc. agreed to acquire the franchisors of the Counter and Built upscale burger chain brands for an undisclosed amount, MTY announced today. The company expects the deal to close next month. . . The offices of the two limited liability corporations running the franchises will move to Scottsdale, Ariz., MTY said. MTY’s Kahala Group subsidiary, acquired last year, is also based in Scottsdale. Kahala’s holdings include Pinkberry, Cold Stone Creamery and Baja Fresh, among others. 

News
May 12, 2017

San Francisco’s ever-rising minimum wage—set to hit $15 next year—has restaurant owners asking for the check. “At Least 60 Bay Area Restaurants Have Closed Since September,” read a January headline at the website SFist, which partly blamed “the especially high cost of doing business in SF, with a mandated, rising minimum wage that does not exempt tipped employees.” Another publication, Eater, described the rash of recent closures as a “death march.”

News
May 8, 2017

Preliminary findings in the group’s annual report suggest that travel spending in the state was $126.3 billion, up about 3% from 2015. The industry supported more than 1 million jobs, up 3.4% from last year.

News
March 10, 2017
In lieu of steep menu price increases, many independent and regional chain restaurants in states including Arizona, California, Colorado and New York are adding surcharges of 3% to 4% to help offset rising labor costs. Industry analysts expect the practice to become widespread as more cities and states increase minimum wages.
News
Feb. 28, 2017
In yet another awkwardly rational response to government intervention in deciding what's "fair", the blowback from minimum wage demanding fast food workers has struck again. Wendy's plans to install self-ordering kiosks in 1,000 of its stores - 16% of its locations nationwide.
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