Staying FOCUSed

Steve Romaniello is building a strong portfolio with brands such as Moe’s Southwest Grill and Schlotzsky’s. But can he reach his goal of 5,000 units?

In the past two years, FOCUS Brands has made moves to position itself as one of the top holding companies in the business. This year, it purchased Moe’s Southwest Grill from Raving Brands for an undisclosed sum. FOCUS closed 2006 by buying Schlotzsky’s. Then there’s Carvel and Cinnabon. In 2006, a Carvel or Cinnabon opened every two days.

FOCUS’s acquisitions and development campaign beg the question: Can the brand avoid the pitfalls that have plagued other quick-growing quick-service companies?

We talked to Steve Romaniello, president and CEO of FOCUS Brands, shortly after the company announced the purchase of Moe’s, to find out.

When would you like to have the Moe’s deal closed? End of summer.

What changes do you plan to make with Moe’s? As much progress as Moe’s has made in the last 18 months in adding infrastructure, they still don’t have a lot of the infrastructure that we have. Generally speaking, the idea is to continue many of the initiatives that are under way. They are in the process of changing menuboards, introducing their first LTO, and making many significant operational improvements to enhance efficiency. We might be able to provide them additional resources to get them to execute those things better and faster.

How will FOCUS help Moe’s? FOCUS has a more robust corporate communications department, real estate department, development services, and architecture department. We have a bigger and more robust IT department. We have financial systems and financial infrastructure. We have a company-owned and -operated store division and a very large and fast-growing international division. We also have a pretty big non-traditional business. We are in 35 countries and have 500 or 600 units internationally. That takes a long time to build so that would be a good example of something Moe’s wouldn’t have that we’ll be able to add … and through which we will be able to add value.

How has Schlotzsky’s worked out? The business has incredible momentum. The franchisees have welcomed us with open arms. We’re seeing high single- to mid-double-digit sales increases just about every month. We’ve executed a new promotion, which was the first time the system had ever done three sandwiches at once. And there are franchisees who are claiming it’s among the most-successful promotions over the last 35 years of their existence. Obviously, I wasn’t here, so I don’t know that to be true, but I do know that they’re very excited.

FOCUS hadn’t previously operated company stores in mass on the street. We operated only in the stadiums and arenas. That division is doing great. In fact, we’ve already purchased one additional store, and we’re working on purchasing another and making further investments in that division.

"

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source: qsrmagazine.com

Wendy’s Announces Strong and Improved 2007 Third-Quarter Results as Turnaround of the Business Continues

DUBLIN, Ohio--(BUSINESS WIRE)--Wendy’s International, Inc. (NYSE:WEN) today announced strong financial results for the third quarter of 2007, reflecting the continuing turnaround of the business, significantly improving restaurant margins and cost controls.

Including third-quarter pre-tax expenses related to the Board’s Special Committee of $13.4 and $2.4 million of pre-tax restructuring charges (as used throughout, restructuring charges include pension settlement charges), the Company reported income from continuing operations of $28.8 million and diluted EPS of $0.33 in the third quarter of 2007, compared to $23.7 million and $0.20 per share in the third quarter of 2006. Earnings before interest, taxes, depreciation and amortization (EBITDA) from continuing operations were $79.2 million in the third quarter of 2007, up 35.8% from $58.3 million in the third quarter of 2006.

Excluding expenses related to the Board’s Special Committee and restructuring charges, the Company reported for the third quarter of 2007 adjusted income from continuing operations of $38.6 million and diluted earnings per share of $0.44, compared to $24.9 million and $0.21 per share in the third quarter of 2006. Excluding expenses related to the Board’s Special Committee and restructuring charges, adjusted EBITDA for the third quarter 2007 was $95.0 million, up 57.3% from $60.3 million in the third quarter of 2006.
Including expenses

Excluding expenses(a)
3Q 2007 3Q 2006 3Q 2007 3Q 2006
Income from continuing operations $28.8 million $23.7 million $38.6 million $24.9 million
Diluted EPS from continuing operations $0.33 $0.20 $0.44 $0.21
EBITDA from continuing operations $79.2 million $58.3 million $95.0 million $60.3 million

(a) Excluding expenses related to the Board’s Special Committee and restructuring charges. See reconciliations below.

Margins increased significantly during quarter with the U.S. up 330 basis points

Company-operated restaurant EBITDA margins improved 270 basis points to 12.4% in the third quarter of 2007, compared to 9.7% one year ago. This includes U.S., Canada and International operations.

U.S. company-operated restaurant EBITDA margins improved 330 basis points to 12.6% in the third quarter of 2007, reflecting positive sales, including menu price increases tied to the Company’s market-based pricing strategy and labor efficiencies. Without the impact of higher commodity costs, third-quarter U.S. company-operated restaurant EBITDA margins would have improved an additional 140 basis points to 14.0%.

“We continue to execute our strategic plan and delivered significantly improved results this quarter at both the corporate and store level despite a very tough competitive environment and commodity cost pressures,” said Wendy’s® Chief Executive Officer and President Kerrii Anderson.

”Our EBITDA growth is encouraging and store operating margins continue to expand,” said Anderson. “We’re revitalizing Wendy’s with a focus on connecting with the consumer, new products, more effective menu management, our market-based pricing strategy, breakthrough advertising and improving operations. That said, we have even greater opportunities to better meet the needs of our customers, grow same-store sales and further increase margins.”

Management expects to produce 2007 full-year EBITDA near the higher end of the guidance range, which was $295 million to $315 million

The Company expects to report 2007 full-year EBITDA near the higher end of the outlook it provided to investors in June, which was a range of $295 million to $315 million. It also expects to report full-year EPS near the high end of the range provided earlier, which was $1.09 to $1.23. These ranges exclude expenses related to the Board’s Special Committee activities and restructuring charges.

“Our progress on key elements of our business since June has been positive,” Anderson said. “We are focused on building on this momentum in the fourth quarter and 2008.”

Wendy’s to feature Combo Choices and Jalapeno Cheddar Double Melt in fourth quarter

Wendy’s is currently promoting its Combo Choices, allowing customers to mix-and-match their favorite sandwich, drink and choice of a side item – fries, chili, baked potato, side salad or Caesar side salad. In November, the Company will promote its Jalapeno Cheddar Double Melt premium hamburger.

“We are focused on driving same-store sales and transactions by improving our connection to the customer,” said Chief Marketing Officer Ian Rowden. “The Jalapeno Cheddar Double Melt offers a unique way for customers to enjoy a ’hot ‘n juicy’ hamburger with toppings melted in the middle of two, ’fresh, never frozen’, beef patties. Customers can’t get this at the competition.

“In addition, for a limited time, customers can get a free music download when they upgrade a Jalapeno Cheddar Double Melt or any other sandwich to a Medium or Large Wendy’s Combo Meal. We want to keep adding value so customers choose Wendy’s more often.”

Wendy’s continues the roll-out of its new breakfast menu, now in more than 850 restaurants, of which 35% are franchise locations.

The Company’s “Red Wig” marketing campaign made great strides in the third quarter and continues to break through with targeted younger customers who frequent quick-service restaurants. Of consumers who were aware of Wendy’s advertising, nearly 25% recalled the "Red Wig" character top of mind, up from 4% recall in the prior quarter. In addition, Ameritest's Ad Appraiser, a leading advertising effectiveness syndicated provider, shows that Wendy's advertising ranks higher than key competitors based on attention, branding and motivation.

“We continue to re-stage our brand and cut through the clutter to reach consumers in a very engaging way,” said Rowden. ”The work from our team and Saatchi & Saatchi has been bold and it is resonating with younger consumers. The campaign reflects the optimistic heritage of the Wendy’s brand and consumers find it appealing. Our goal is to build further awareness and encourage customers to visit Wendy’s more often.”

Third Quarter Highlights

* Wendy’s produced its 5th consecutive quarter of positive same-store sales.
* Average same-store sales at U.S. company-operated restaurants increased 0.2% for the quarter, compared to 4.1% during the same quarter a year ago. Year-to-date average same-store sales at U.S. company-operated restaurants are up 1.5%.
* Average same-store sales at U.S. franchise restaurants increased 1.3% for the quarter, compared to 3.9% during the same quarter a year ago. Year-to-date average same-store sales at U.S. franchise restaurants are up 1.8%.
* The Company’s two-year sales trends continue to improve, and have averaged more than 4% for the past four months.
* The Company and its franchisees opened a total of 25 new Wendy’s restaurants during the quarter. The openings consisted of five company-operated restaurant and 20 franchised restaurants. The total number of systemwide Wendy’s restaurants at the end of the third quarter in 2007 was 6,633, compared to 6,673 at year-end 2006 and 6,741 at the end of the third quarter in 2006, reflecting closures of underperforming restaurants.

Wendy’s third-quarter promotions featured the new Baconator™

In July, Wendy’s introduced its latest premium hamburger, the Baconator. The Baconator features a half-pound of fresh, never frozen beef, six strips of hickory-smoked bacon, topped with American cheese, ketchup and mayonnaise.

Wendy’s in August introduced limited-time offerings at the local-market level, including its Chicken Cordon Bleu, Monterey Ranch, and Wendy Melt premium sandwiches.

In September, the Company promoted its Super Value Menu®, featuring its Junior Bacon Cheeseburger and all-white meat 5-piece Crispy Chicken Nuggets, both quality-favorites among younger, price-sensitive consumers.

Third Quarter Financial and Income Statement Information

The Company’ third-quarter 2007 reported results from continuing operations include the impact of:

* Sales – $554.8 million in the third quarter of 2007, compared to $556.7 million in the third quarter of 2006. Sales increased slightly as a result of positive average same-store sales, however Wendy’s had 42 fewer company-operated restaurants open at the end of the third quarter of 2007 compared to the same quarter a year ago.
* Franchise revenues – $76.3 million in the third quarter of 2007, compared to $73.4 million in the third quarter of 2006. The 2007 increase reflects positive franchisee average same-store sales, higher 2007 gains on the sales of stores to franchisees of $0.9 million and lower 2007 reserve allowances. Partially offsetting these improvements, Wendy’s had 66 fewer franchise-operated restaurants open at the end of the third quarter of 2007 compared to the same quarter a year ago.
* Total revenues – $631.1 million in the quarter of 2007, up 0.2% compared to $630.1 million in the third quarter of 2006.
* Cost of sales – $334.9 million in the third quarter of 2007, compared to $345.8 million in the third quarter of 2006, which was a 170 basis point improvement as a percentage of sales. The year-over-year improvement is due primarily to higher menu pricing tied to the Company’s market-based pricing strategy and improved menu management.
* Company restaurant operating costs – $148.6 million, or 26.8% of sales, in the third quarter of 2007, compared to $155.3 million, or 27.9% of sales, in the third quarter of 2006. The year-over-year improvement as a percent of sales includes lower expenses as a result of the Company’s 2006 cost saving initiatives and other lower store operating costs, including lower utility, bonus and insurance costs. These improvements were partially offset by the change in accounting for the real estate joint venture with Tim Hortons® (see below). As a result of this change in accounting, third quarter 2007 company restaurant operating costs included rental expense paid to the joint venture by Wendy’s, which prior to the spin-off of Tim Hortons, eliminated in consolidation. Without this change in accounting for the joint venture, reported third quarter 2007 Company-operated restaurant EBITDA margins would have been 30 basis points higher.
* Operating costs – $6.3 million in the third quarter of 2007, compared to $8.3 million in the third quarter of 2006. The year-over-year decrease is due primarily to a decline in rent expense as a result of the change in accounting for Wendy’s real estate joint venture with Tim Hortons, which is no longer consolidated by the Company (see below).
* General and administrative expense – $49.3 million, or 7.8% of revenue, in the third quarter of 2007, compared to $62.4 million, or 9.9% of revenue, in the third quarter of 2006. The year-over-year improvement is due primarily to a reduction in salaries and benefits as a result of the elimination of positions in 2006, lower insurance costs of $6.4 million, and control of costs throughout the organization.
* Restructuring costs – $2.4 million in the third quarter of 2007, which includes $1.0 million in pension settlement charges. This compares to $2.0 million in restructuring costs in the third quarter of 2006.
* Special Committee related charges – $13.4 million in the third quarter of 2007 in expenses related to the Special Committee. These charges did not occur in 2006.
* Other expense/income – $2.9 million of income in the third quarter of 2007, which includes $3.1 million in income from the Company's 50/50 joint venture with Tim Hortons, and insurance gains partially offset by store closure charges and other asset write-offs. In 2007, the joint venture is accounted for under the equity method. Prior to the spin-off of Tim Hortons, the joint venture was fully consolidated.
* Interest – The $1.5 million increase in interest expense in the third quarter 2007 is primarily due to the sale of approximately 40% of the U.S. royalty stream for a 14-month period entered into in the fourth quarter of 2006 that was recorded as debt. The $11.7 million decrease in interest income reflects a reduction in cash balances as a result of the completion of a modified "Dutch Auction" tender offer in the fourth quarter of 2006, using approximately $800 million, and the completion of an accelerated share repurchase in the first quarter of 2007 for approximately $280 million.
* Taxes – The Company’s effective tax rate was 34% in the third quarter of 2007 and 26.5% in the third quarter of 2006.
* Shares outstanding – A lower share count of 88.4 million average shares in the third quarter of 2007, compared to 118.3 million average shares in the third quarter of 2006. The Company repurchased 22.4 million shares in a modified “Dutch Auction” tender offer in the fourth quarter of 2006, and repurchased 9.0 million shares in an accelerated share repurchase in the first quarter of 2007.
* Joint venture with Tim Hortons – As a result of its 2006 spinoff of Tim Hortons, the Company, in accordance with generally accepted accounting principles (GAAP), now accounts for its 50% share of the restaurant real estate joint venture with Tim Hortons (Wendy’s and Tim Hortons’ combination units) under the equity method of accounting, rather than consolidating the results of the joint venture in the Company’s financial statements. Without this change, company-operated restaurant EBITDA margins would have been 12.7% during the third quarter of 2007. This change in accounting for the Company’s joint venture with Tim Hortons impacts several lines on the Company’s statement of income and resulted in an overall reduction to third-quarter 2007 operating income of $2.1 million compared to the third quarter 2006.
* Discontinued operations – Wendy’s completed its spinoff of Tim Hortons in the third quarter of 2006 and completed the sale of Baja Fresh® Mexican Grill during the fourth quarter of 2006. During the third quarter of 2007, the Company completed the sale of Cafe Express. Accordingly, the after-tax operating results of Tim Hortons, Baja Fresh and Cafe Express appear in the “Discontinued Operations” line on the income statement.

Board approves 119th consecutive dividend

The Board of Directors approved a quarterly dividend of 12.5 cents per share, payable November 19 to shareholders of record as of November 5. The dividend payment will represent the Company’s 119th consecutive dividend.

Company plans third-quarter conference call for October 26

The Company will hold a conference call and webcast to discuss the Company’s third quarter results at 8 a.m. ET on October 26. The dial-in number is (877) 572-6014 (U.S. and Canada) or (706) 679-4852 (International). A simultaneous webcast of the conference call will also be available at www.wendys-invest.com. The call will also be archived at that site.

Disclosure regarding non-GAAP financial measures

The Company uses adjusted income from continuing operations as an internal measure of operating performance. Management believes adjusted income from continuing operations provides a meaningful perspective of the underlying operating performance of the business.

EBITDA is used by management as a performance measure for benchmarking against its peers and competitors. The Company believes EBITDA is useful to investors because it is frequently used by securities analysts, investors and other interested parties to evaluate companies in the restaurant industry. EBITDA is not a recognized term under GAAP.

The Company also uses adjusted EBITDA, which accounts for certain items unrelated to ongoing operations, as an internal measure of business operating performance. Management believes adjusted EBITDA provides a meaningful perspective of the underlying operating performance of the business.

Company EBITDA margins from continuing operations consist of operating income plus depreciation and amortization divided by revenue.

Company-operated restaurant EBITDA margins consist of sales from company-operated restaurants minus cost of sales from company-operated restaurants minus company restaurant operating costs divided by sales from company-operated restaurants.

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source: qsrmagazine.com

New Green Building Concept Moves Forward

It looks like a cross between Seattle’s space needle and something architect Frank Lloyd Wright might have influenced, but developers of the 997-square-foot 1 Odd Duck iBuilding, an environmentally friendly, technology-based, media-driven concept, was designed with drive-thru, quick-serve restaurants in mind.

“We are looking to change the way restaurants are built through respect for the environment and for business development,” says Paul Monnette, director of development for Chelsea, Alabama-based 1 Odd Duck LLC. “It is for drive-thrus only.”

Odd Duck’s first iBuilding is slated for spring 2008 construction in the Boulder-Denver, Colorado, metro area. Developers will use the building to demonstrate its features in order to entice potential licensees and ultimately sell area “development rights to territories across the United States and abroad to franchises seeking to operate cutting edge quick-serve restaurants.” The firm is eyeing the Las Vegas area for a second location.

Howard Cannon, founder and president of 1 Smart Duck Management Group LLC, is the man responsible for the 1 Odd Duck building. Cannon is also the CEO of ROI Inc., a specialized restaurant, bar, and foodservice consulting and venture firm also based in Chelsea.

Cannon would not divulge specific build-out costs, saying the differences between building a standard facility and an iBuilding are “negligible.”

“All we are trying to do is make an idiot-proof, smart building, so that all you have to do is put your menu in, put your logo up, and you’re in business,” he says. “You can cook anything you want in this building, from filet mignon to pizza in under a minute. The licensee can choose to do anything they want and this building lets them focus on serving their customers.”

The 1 Odd Duck’s iBuilding prototype has many technical features that dovetail right into restaurant start-up, security, and employee training.

Real-time interactive training will allow management to remotely coach managers and employees, using high definition video and laser technology, while two-way interactive video conferencing is expected to provide an element of personalization between management and employees from the office to the field.

A system using eye/iris recognition will not only provide security, but also track employee time and attendance. A fingerprint, biometric system will track employee hand washing. “We can track the amount of time between an employee’s last hand washing,” Monnette claims, adding that the system, as designed, will also alert and communicate “out of standard issue” in real time.

Other planned features include remote-controlled equipment, lighting, and media screens that allow universal control over all utilities, including signage, pricing, and marketing messages. The iBuilding can also take on different appearances thanks to a lighting and hologram laser system designed to create various styles of lighting and color changes that can be timed for different intervals throughout the day. Various unique looks, Monnette says, would be proprietary to each licensee.

Four turbine-style windmills and an upturned, dish-like InvertedSolarKone will convert wind and sun energy into electricity, a combination that 1 Odd Duck claims will generate more power than what the iBuilding will use during peak operation.

“The smaller the building, the better it is. When we keep the size down, we keep the amount of energy use down,” Monnette adds.

The Leadership in Energy and Environmental Design (LEED)-certified prototype also includes water retention devices that catch and divert rainwater to an underground reservoir where it can be dispersed on landscaping at desired intervals. Emission collection devices will collect CO2 from vehicles sitting in drive-thru lanes and filter it through a scrubber before clean air is pumped from the roof.

Free to customers will be electric plug-in posts for recharging hybrid vehicles, while touch-screen point-of-sale systems retrofitted with reverse ATMs will allow patrons to place orders, pay for it with cash, credit, or debit, without ever having to interact with restaurant personnel.

Some building features, Monnette says, might be more attractive than others, which is why 1 Odd Duck plans to offer “plug and play” equipment packages that can be standardized for each branding partner.

“We are building a complete prototype with all the bells and whistles so that [a licensee] can pick and choose the equipment package they want,” he says. “We want to have these buildings everywhere, but we don’t want to limit the technology to just the United States. We are looking at Beijing, Buenos Aires, Johannesburg; we want to take it worldwide.”

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source: qsrmagazine.com

Baja Fresh Positioned for Growth and Expansion Throughout the United States and International Markets

THOUSAND OAKS, Calif.--(BUSINESS WIRE)--California-based Baja Fresh Mexican Grill, voted the Platinum award-winning Mexican Chain in America by Restaurants & Institutions, announced today Baja Fresh and La Salsa Fresh Mexican Grills have laid out strategic plans for growth and are poised for expansion throughout the United States and into International markets. Under new ownership, the company will focus its expansion efforts on strategic markets, including California, Nevada, Washington D.C., Missouri, Illinois, Georgia and Florida to name a few and on growing the company internationally.

“Baja Fresh and La Salsa are strategically focused on growing into new markets and on an international scale whether through franchise opportunities or new locations,” said James Walker, president of Baja Fresh. “With our new restaurant designs encompassing a smaller footprint, we are now able to deliver our product to the customer with the freshness and quality they expect without paying for excess space which is not being fully utilized. It is a win-win for all parties -- the customer and us.”

In addition to its traditional approach to expansion, Baja Fresh has developed a new model restaurant that encompasses a smaller footprint, allowing the company to enter new markets such as airports, colleges, and universities with new locations that encompass a mere 600 square feet. To help the company capitalize on these market opportunities, the company has recently partnered with HMSHost. Based on this relationship Baja Fresh is now the preferred fast casual Mexican food chain and is available as part of HMSHost’s airport and motorway operations across the United States. The initial outlets are slated for Los Angeles International Airport and the Pennsylvania Turnpike.

Baja Fresh and La Salsa are also focused on making locations more cost efficient and effective to aide in the company’s growth. Baja Fresh has downsized its restaurant design to approximately eighteen hundred square feet, twelve hundred square feet less than the original design.

Additionally, as part of its growth strategy, Baja Fresh and La Salsa will focus significant efforts on new franchise opportunities throughout the United States and in International markets. To help facilitate the growth of its franchise business, the company has instituted new policies to allow franchisees to have the option to open a single unit or multi-unit franchise locations.

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source: qsrmagazine.com

San Francisco’s Ghirardelli Square Undergoes Revitalization

SAN FRANCISCO--(BUSINESS WIRE)--JMA Ventures, LLC (JMA), owners of San Francisco’s historic Ghirardelli Square, has announced that the revitalization of the Square into an urban enclave combining its historic detail with an array of new tenants and the highly anticipated Fairmont Heritage Place, Ghirardelli Square, is underway. Ghirardelli Square is set to emerge from the transformation in spring 2008 in conjunction with occupancy of the private residence club homes at Fairmont Heritage Place, Ghirardelli Square, an integral part of the overall revitalization of the landmark Square.

“Ghirardelli Square is a very special place -- a beloved and historic San Francisco icon, a uniquely intimate physical space, and one of the most beautiful locations in the city,” said Todd Chapman, a principal of JMA. “Our vision for renewing Ghirardelli Square carefully preserves these wonderful attributes while creating a reenergized enclave that will benefit both the immediate neighborhood and the entire city of San Francisco.”

Fairmont Heritage Place, Ghirardelli Square, represents one of the city’s most distinctive and exciting new options for luxury living, inextricably linked with San Francisco’s rich and colorful history. Offering 1/10th ownership interests of just 53 residences, this is a limited once in a lifetime opportunity to own a piece of a San Francisco icon. Owners will luxuriate in the magnificent views of the bay and enjoy living in a historic waterfront location that has been transformed into an urban oasis.

Artfully blending historic ambience with modern luxury, the Fairmont Heritage Place homes offer expansive two- and three-bedroom floor plans that range from 1,400 to 1,900 square feet, large living spaces with up to 12-foot ceilings, modern kitchens with Sub-Zero appliances, plasma televisions, in-home fireplaces and exposed brick and timber finishes. The large bedrooms feature spacious closets, plasma screen televisions and patio access with unobstructed views of the bay, Alcatraz Island and the Marin County headlands.

“This is a unique opportunity for Fairmont to create what we believe will be the preeminent urban private residence club,” commented Greg Doman, Fairmont’s Vice President, Fairmont Heritage Place. “Ghirardelli Square, with its historic significance and spectacular location, represents the quintessential Fairmont Heritage Place. We believe the high caliber and outstanding location of this development will set new standards for urban private residence clubs.”

The unique and intimate physical space of Ghirardelli Square includes an exciting mix of high-end retail, fine dining, artisanal foods, art galleries, spa facilities and much more, while the site’s premier location will serve as an ideal home base from which to enjoy San Francisco and Northern California’s many attractions.

New shops at Ghirardelli Square that residents and locals alike will enjoy include recently opened Kara’s Cupcakes, a San Francisco based purveyor of organic cupcakes; Cellar 360, a wine and food experience brought to the Square in part by COPIA; and Lola’s of North Beach, a high-end papery store offering personalized stationery, handmade cards and unique gift items. Soon to open retailers include Marché on the Square, a specialty food market that includes a wine bar brasserie; O’Neill’s Irish Pub; Peekadoodle Kidsclub, the Bay Area’s first premium, full-service, indoor family club; as well as a yet-to-be-announced fine dining restaurant; and 10,000 square foot spa.

Steeped in the history of San Francisco, Ghirardelli Square dates back to the mid-1800s, when it served as the original site of the Ghirardelli family's chocolate, cocoa, mustard and box factories. Today, it is a popular destination for San Francisco visitors and Bay Area residents, offering shopping, waterfront dining, art galleries, family events and more. One of the first successful mixed-use redevelopment projects in the United States, Ghirardelli Square has been a San Francisco landmark for more than 100 years. To ensure its preservation, Ghirardelli Square was granted National Historic Register status in 1982.

The Fairmont name also factors significantly in the city’s history. Since 1907, the landmark Fairmont San Francisco hotel has hosted American presidents, beginning with William Howard Taft, hosted the drafting of the United Nations Charter in 1945, and provided the stage where Tony Bennett first sang “I Left My Heart in San Francisco.”

Today Ghirardelli Square is a familiar sight in San Francisco; the red brick building with its trademark sign is an irreplaceable part of the local fabric since its inception as a working chocolate factory in the late 1800s. Coated in tradition and history, Ghirardelli Square is one of San Francisco's most treasured landmarks.

About Fairmont Heritage Place: Fairmont Heritage Place is an exclusive private residence club collection offering vacation home ownership in some of the world’s most sought after locations. Fairmont Heritage Place Acapulco, its first residence club, opened in September 2004. Located next to The Fairmont Acapulco Princess resort, this residence project is already in its third phase. Fairmont Heritage Place also manages the Fairmont Heritage Place Franz Klammer Lodge in Telluride, Colorado and planning is underway for Fairmont Heritage Place Barbados. Future development is being planned at select Fairmont resort locations, as well as potential joint ventures with third party developers in other locations. For additional information, please visit: www.fairmontheritageplace.com.

About Fairmont Hotel & Resorts: A leader in the global hospitality industry, Fairmont Hotels & Resorts is an extraordinary collection of luxury hotels that truly reflect the essence of their destination. Featuring iconic landmarks like The Fairmont San Francisco, The Fairmont Banff Springs, and London's Savoy, Fairmont hotels are more than a place to stay; they are one-of-a-kind properties where sophisticated travelers can discover storied life experiences. Situated in some of the most exclusive and pristine areas in the world, Fairmont locations provide access to activities that are culturally rich and authentically local. From inviting beaches and tranquil spas to challenging golf courses and exhilarating ski hills, guests can fulfill their lifelong desires at Fairmont. With an enduring connection to the land and communities where we do business, Fairmont is also committed to responsible tourism and is an industry leader in sustainable hotel management with its award-winning Green Partnership program. With 51 distinctive hotels in 12 countries, and more than 20 properties currently in development, Fairmont is committed to growing its portfolio of world-class hotels and plans to add properties in coveted international destinations like Cairo, Shanghai, Dubai, and Beijing over the next few years.

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Real Estate Designers offers totally innovative solutions for your software
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"

Real Estate Designers offers totally innovative solutions for your software development, Internet programming, real estate web design and hosting needs. Our service includes domain name registration and real estate web design. Real Estate Designers provides the complete solution including design, application development and marketing.

source: qsrmagazine.com