Web & Data Editor/Reporter
Newport Beach-based chemicals maker American Vanguard Corp. earned $5.6 million in quarterly net income, up from $4.3 million year-over-year, on revenue of $107 million, up from $78 million.
Pacific Hospitality Group named Melanie Bucci chief financial officer;. She was most recently vice president of finance at Montage International for about eight years; both are hotel management companies based in Irvine.
Holding companies that own chains run under Real Mex Restaurants Inc. have filed for bankruptcy and will sell to an affiliate of New York-based private equity firm Z Capital Group LLC, which along with Santa Monica-based Tennebaum Capital Partners will provide $5.5 million in debtor-in-possession financing during the Chapter 11 process.
Ontario-based Prime Healthcare Services Inc. and its chief executive have agreed to pay $65 million to settle federal allegations of Medicare overbilling at 14 California Hospitals, including four in Orange County, the U.S. Attorney’s Office said Aug. 3.
Taco Bell Corp. in Irvine reported lower quarterly operating profit on higher systemwide sales, with same-store sales up, but below expectations and less than the same period a year ago.
FRANCHISING: Master plan’s eyes on India, Aussie
Taco Bell Corp. is on track to top $10 billion in systemwide sales this year, and unlike Bogie and Bacall, it doesn’t even have Paris—yet.
El Pollo Loco Holdings Inc. said quarterly revenue increased less than 1% to $106 million and net income fell by a third, to $5.1 million, compared with the same period last year.
Potbelly Corp. looks to finally open in OC with four franchised locations, starting with one in Irvine, early next year.
The local hotel market continued strong in the first six months of the year, compared with the same period last year, with average daily rates of $194; revenue per available room about $156, and occupancy of more than 80%.
BirchStreet Systems Inc. in Newport Beach promoted Stephen Markle to chief executive, succeeding founder Sushil Garg.
BJ’s Restaurants Inc. (Nasdaq: BJRI) in Huntington Beach reported net income of $16.9 million, up 76% year-over-year, on revenue of $287.6 million, up 8%, in its most recent quarter.
Del Taco Restaurants Inc. (Nasdaq: TACO) reported $4.2 million in net income, down 20% year-over-year, on $117.8 million in revenue, up 8.5%, in its most recent quarter.
John Wayne Airport passenger traffic in June rose about 5% to 950,000, compared with the same month last year; year-to-date traffic was 5.24 million.
About 350,000 passengers moved through Long Beach Airport in June, up 12% compared with the same month last year.
Three new Orange County hotels with 445 rooms opened in the first half of 2018, according to data from Irvine hotel broker-consultant Atlas Hospitality Group.
Mountain Mike’s Pizza LLC in Newport Beach said Robofran Development LLC expects to sell 40 franchises over the next 10 years as an area developer in Riverside and parts of San Bernardino Counties.
City of Industry-based Yang Ming Yu Braised Chicken USA Group plans three franchised locations of Yang’s Braised Chicken Rice in OC, following its first store in the U.S., a corporate location that opened in Tustin in September.
Taco Bell Corp. in Irvine signed current franchisees in Spain and Brazil to add 40 locations a year between the two countries over the next decade.
Patents Point to Parent’s 2019 Pledge
A slew of U.S. patents issued over the last 10 weeks to Disney Enterprises Inc. give expression to experiences planned for Star Wars: Galaxy’s Edge, the new 14-acre “land” at Disneyland Resort that Walt Disney Co. plans to open by next summer.
R.D. Olson Tapped Local Designers for Lido Job
“People redo their homes every seven to 15 years,” said Brooke Wagner.
RESTAURANTS: Name’s changed; rest is the same
Owners are the same, staff’s still friendly, food’s still good.
A Pendry Hotel planned for a 2020 opening in Somerseet County, New Jersey, will include 24, for-sale residences on land once fit for a king.
Iteris Inc. will synchronize traffic signals and make other timing and infrastructure changes at 59 intersections under a three-year, $3.5 million contract with Orange County Transportation Authority.
Budapest-based International Weightlifting Federation moved its March 2019 youth world championship from Anaheim to Las Vegas during the group’s executive board meetings in Tashkent, Uzbekistan, a news report said.
A franchiser of fast food restaurants has said Australia looks good for more Taco Bell locations—in some cases possibly replacing Sizzler locations it operates there.
A series of six construction permits for projects with a combined value of $180 million pulled over the last 30 days in Anaheim suggest the home stretch for elements of Star Wars: Galaxy’s Edge, the new “land” expected to open next summer at Disneyland Resort.
Average daily rates, occupancy, and revenue per available room held steady or grew year-to-date compared with the same period in 2017, research from CBRE Hotels in Los Angeles shows.
Long Beach Airport passenger traffic rose 8% in May, year-over-year, to about 345,000. Year-to-date traffic is up 9% to about 1.7 million.
Two restaurant chain deals, $190M in annual sales
Newport Beach private equity investors that bought two franchises in 11 months are on the hunt for more.
John Wayne Airport passenger traffic was up 4% in May, year-over-year, to 916,000, on about 4,000 flights, up 2% compared with the same month in 2017.
TOURISM: Toy story’s ending not yet written
Ben Goretsky booked 140,000 square feet at Anaheim Convention Center for his DesignerCon, a November showcase of art, design and products for toy and collectibles aficionados that had been at Pasadena Convention Center since its inception 13 years ago.
Daniel McQuaid will step down as president and chief executive of OneOC at the end of the year. The nonprofit’s board named Tim Strauch, vice president and chief operating officer, to replace him, effective Jan. 1.
Anaheim-based Broughton Hospitality Group’s hotel management division will “develop, acquire, and manage” properties in North America with Warrington, U.K.-based Bespoke Hotels, a press release said.