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James Beard Awards name 18 Philadelphia-area restaurants, chefs among 2023 semifinalists

Seven Philadelphia-area chefs were nominated in the Best Chef: Mid-Atlantic category alone......»»

Category: topSource: bizjournalsJan 25th, 2023

James Beard Awards name 18 Philadelphia-area restaurants, chefs among 2023 semifinalists

Seven Philadelphia-area chefs were nominated in the Best Chef: Mid-Atlantic category alone......»»

Category: topSource: bizjournalsJan 25th, 2023

KC"s plate is full of James Beard semifinalists

Colby and Megan Garrelts again headed up a bountiful list from the Kansas City area when the James Beard Foundation announced its list of semifinalists for awards honoring restaurants and chefs. The couple also were listed as semifinals last year. The Ja.....»»

Category: topSource: bizjournalsFeb 27th, 2019

3 Pittsburgh chefs named as semifinalists in 2023 James Beard Foundation Awards

The awards are highly prestigious in the culinary and food media industries......»»

Category: topSource: bizjournalsJan 25th, 2023

Knead Hospitality & Design among D.C.-area chefs, restaurants named as James Beard semifinalists

The D.C. region's hospitality scene had a respectable showing in this year's list, with winners to be celebrated in June......»»

Category: topSource: bizjournalsJan 25th, 2023

Houston chefs, restaurants score 10 spots on 2023 James Beard Awards semifinalists list

Some returning favorites and several new names from Houston landed on the semifinalists list for the 2023 James Beard Awards, sometimes called the Oscars of the food world......»»

Category: topSource: bizjournalsJan 25th, 2023

I went inside Delta"s new LAX Sky Club and found a luxurious space full of passenger-friendly touches — take a tour

Take a tour of Delta's 30,000-square-foot Sky Club at LAX, part of Delta's recent multi-billion-dollar investments in improving customer . Delta Sky Club at Los Angeles International Airport.Brady MacDonald/Insider A new 30,000-square-foot Delta Sky Club opened in the spring at LAX. It's part of Delta's multi-billion-dollar investments in improving customer experience at key hubs around the country. A new 30,000-square-foot Delta Sky Club opened in the spring at Los Angeles International Airport on the departures level between T2 and T3 as part of a $2.3 billion Delta Sky Way expansion slated for completion in 2023.Delta Sky ClubBrady MacDonald/InsiderThe LAX lounge's reign as Delta's largest Sky Club was short-lived. LaGuardia's 35,000-square-foot Sky Club stole the crown when the NYC-area airport lounge opened this summer.Delta Sky ClubBrady MacDonald/InsiderThe highlight of the new LAX club is the Sky Deck all-weather outdoor terrace that offers complimentary cocktails and panoramic views of the flight line with downtown LA and the Hollywood Hills in the distance.Delta Sky Club at LAX.Brady MacDonald/Insider  The warm year-round climate makes LAX the ideal spot for an outdoor airport lounge. Delta also has outdoor lounges at LaGuardia, JFK, and ATL – which get much chillier in the winter than SoCal.Delta Sky ClubBrady MacDonald/InsiderDelta kept the bigger of the two Sky Clubs in Terminal 2 open -- giving the airline capacity for up to 800 passengers at a time at the two lounges. Delta closed its converted Virgin airport lounge in LAX's Terminal 2 after outgrowing the space.Delta Sky ClubBrady MacDonald/InsiderDelta's new Sky Club at LAX looked luxe from the moment I stepped inside.Delta Sky Club at LAX.Brady MacDonald/InsiderThe place was massive and seemed to go on forever.Delta Sky Club at LAX.Brady MacDonald/InsiderTravelers check-in at five self-service kiosks in the lower Sky Club lobby…Delta Sky Club at LAX.Brady MacDonald/Insider…before ascending a staircase beneath an ocean waves-themed ceiling fixture.Delta Sky Club at LAX.Brady MacDonald/InsiderThe go-to spot in the mega lounge was an outdoor bar overlooking the constant coming and going of LAX’s 1,500 daily arrivals and departures.Delta Sky Club at LAX.Brady MacDonald/InsiderThe refreshing spot lets passengers feel fresh air on their skin after a day of being cooped up in a vacuum-sealed airplane or stuck in an airtight airport.Delta Sky ClubBrady MacDonald/InsiderThe low whir of jet engines and distant whoosh of landing planes could be heard over the near silence of a bar where nobody knows your name and everybody has their head buried in a smartphone. A retractable roof provided cover should it ever rain in LA.Delta Sky ClubBrady MacDonald/InsiderThe best place to hang out in the entire Sky Club: The low-slung tables surrounded by even lower-slung beach chairs on the outdoor patio.Delta Sky Club at LAX.Brady MacDonald/InsiderThe adorable pop-up installation – which changes on a regular basis – was accented with candles, incense, and succulents.Delta Sky Club at LAX.Brady MacDonald/InsiderIt was delightful to see adventurous travelers in business suits lounging in the beach chairs with laptops on their knees and colorful cocktails in their hands.Delta Sky Club at LAX.Brady MacDonald/InsiderInside, the new club offers tons of primo spots along the windows…Delta Sky Club at LAX.Brady MacDonald/Insider…with panoramic views of Delta jets landing, taxiing, and parked at the T2 and T3 jetways.Delta Sky Club at LAX.Brady MacDonald/InsiderA big screen TV viewing area with theater-style seating was pretty spectacular – streaming four channels simultaneously playing ESPN, NASCAR, golf, and CNN.Delta Sky Club at LAX.Brady MacDonald/InsiderSix clever and popular phone booth soundproof cubicles were always busy but never full.Delta Sky Club at LAX.Brady MacDonald/InsiderOn the minus side, I did notice some tables were dirty and trash was strewn on the floor. It's likely hard to keep a place this big clean with two-thirds of the seats filled and the continuing staffing shortages in the service industry.Delta Sky ClubBrady MacDonald/InsiderAnother negative: The comfy seats were stuffed tightly together throughout the lounge — another symptom of the crush of VIP passengers traveling on LAX’s #1 airline.Delta Sky Club at LAX.Brady MacDonald/InsiderThe never-ending tide of people forced Delta to squeeze every available inch out of the expansive yet limited space.Delta Sky Club at LAX.Brady MacDonald/InsiderThe worst sin of all: The awful draft beer selection of Michelob Ultra, Golden Road Wolf Pup Session IPA, Angel City IPA, and Firestone Walker 805 was pedestrian even by airport bar standards.Delta Sky Club at LAX.Brady MacDonald/InsiderA premium lounge can afford to have at least one tap of great beer – especially in California.Delta Sky Club at LAX.Brady MacDonald/InsiderThere were playful design touches throughout the lounge.Delta Sky Club at LAX.Brady MacDonald/InsiderWhimsical light fixtures added sparkle over the cocktail bars, communal tables, and marquee seating areas.Delta Sky Club at LAX.Brady MacDonald/InsiderA luminescent Italian-imported mosaic mural alcove lined with glass tiles that pays homage to the glamorous age of Hollywood’s Golden Age shimmered like dancing spotlights at a movie premiere.Delta Sky Club at LAX.Brady MacDonald/InsiderLocal art added a hip edge to the cavernous space that could have otherwise felt like a soulless utilitarian space.Delta Sky ClubBrady MacDonald/InsiderA 6-foot-tall melting rainbow popsicle sculpture next to a candy counter brimming with Smarties, Pez, and Starburst was an inspired touch.Delta Sky Club at LAX.Brady MacDonald/InsiderFood buffets throughout the lounge offered seasonal menu items for dine-in meals or grab-and-go snacks. Delta's Fresh Farm farmer's market-style pop-ups within the lounge regularly feature food and drinks created by local restaurants and artisans.Delta Sky ClubBrady MacDonald/InsiderDuring my visit, both buffets were filled with complementary sandwiches, meat and cheese spreads, pasta bars, and desserts.Delta Sky Club at LAX.Brady MacDonald/Insider  Pro tip: Head to the buffet at the back of the club for similar fare with sparser crowds. At both stations, there were fresh juices on tap, espresso machines, Coke Freestyle dispensers, and regular and decaf Starbucks.Delta Sky ClubBrady MacDonald/InsiderThe food at Delta's LAX Sky Club wasn't premium, but it was plentiful, filling, and delicious – which is more than you can say about typical airline food.Delta Sky ClubBrady MacDonald/InsiderSky Club's Local Flavor program brings emerging local chefs into the lounge on a rotating basis to showcase their most popular dishes. Michelin Star chef Akira Back from the Beverly Hills-adjacent AB Steak Korean steakhouse and barbecue was the first featured Local Flavor chef at the new LAX Delta Sky Club.Delta Sky ClubBrady MacDonald/InsiderEasily a quarter of the new Delta Sky Club at LAX was dedicated to an expansive restroom area, including eight showers that passengers can book via a virtual queuing system.Delta Sky Club at LAX.Brady MacDonald/InsiderThe showers were immaculately spotless and well-appointed – the perfect refresher after a long flight or during an extended layover. Nursing rooms were also available for newborn mothers.Delta Sky Club at LAX.Brady MacDonald/InsiderRead the original article on Business Insider.....»»

Category: topSource: businessinsiderOct 21st, 2022

Vail Resorts Reports Fiscal 2022 Fourth Quarter and Full Year Results, Provides Fiscal 2023 Outlook and Announces 2023 Capital Plan

BROOMFIELD, Colo., Sept. 28, 2022 /PRNewswire/ -- Vail Resorts, Inc. (NYSE:MTN) today reported results for the fourth quarter and fiscal year ended July 31, 2022, which was negatively impacted by COVID-19 and related limitations and restrictions, and reported results of season-to-date season pass sales. Vail Resorts also provided its outlook for the fiscal year ending July 31, 2023, announced its calendar year 2023 capital plan, and declared a dividend payable in October 2022. Highlights Net income attributable to Vail Resorts, Inc. was $347.9 million for fiscal 2022 compared to net income attributable to Vail Resorts, Inc. of $127.9 million for fiscal 2021. The increase is primarily due to the greater impact of COVID-19 and related limitations and restrictions on results in the prior year. Resort Reported EBITDA was $836.9 million for fiscal 2022, compared to Resort Reported EBITDA of $544.7 million for fiscal 2021. The increase is primarily due to the greater impact of COVID-19 and related limitations and restrictions on results in the prior year. Pass product sales through September 23, 2022 for the upcoming 2022/2023 North American ski season increased approximately 6% in units and approximately 7% in sales dollars as compared to the period in the prior year through September 24, 2021. Pass product sales are adjusted to include pass sales for the recently acquired Seven Springs, Hidden Valley and Laurel Mountain resorts (together, the "Seven Springs Resorts") in both periods and to eliminate the impact of changes in foreign currency exchange rates by applying current U.S. dollar exchange rates to both current period and prior period sales for Whistler Blackcomb. The Company provided its outlook for fiscal 2023 and expects Resort Reported EBITDA to be between $893 million and $947 million, including an estimated $4 million of acquisition and integration related expenses specific to the Seven Springs Resorts and Andermatt-Sedrun. Fiscal 2023 guidance, among other assumptions described below, assumes a continuation of the current economic environment, normal weather conditions, and no material impacts associated with COVID-19 for the 2022/2023 North American and European ski season or the 2023 Australian ski season. The Company declared a quarterly cash dividend of $1.91 per share of Vail Resorts' common stock that will be payable on October 24, 2022 to shareholders of record as of October 5, 2022. The Company announced details on its calendar year 2023 capital plan, which is expected to total approximately $180 million to $185 million, excluding $1 million of one-time investments related to integration activities and $10 million of deferred capital associated with the delayed Keystone and Park City lift projects. Including these one-time investments, the Company's total capital plan for calendar year 2023 is expected to be approximately $191 million to $196 million and is primarily focused on new and replacement lifts to further increase uphill capacity and elevate the guest experience. On August 3, 2022, the Company closed on its purchase of a majority stake in Andermatt-Sedrun, marking the Company's first strategic investment in, and opportunity to operate, a ski resort in Europe. Commenting on the Company's fiscal 2022 results, Kirsten Lynch, Chief Executive Officer, said, "We are pleased with our overall results for the year which highlight the stability and strength of our business model. As expected, results for the year significantly outperformed results from the prior year primarily due to the greater impact of COVID-19 and related limitations and restrictions on results in the prior year. "Despite the challenging early season conditions through the holiday period, staffing challenges, and impacts related to COVID-19, results exceeded our original expectations for the year driven by the stability from our advance commitment pass products with approximately 72% of skier visitation at our North American resorts coming from pass product holders, strong destination guest visitation including demand for lift tickets, and an improved guest experience from January through the remainder of the season, demonstrating strong underlying demand for the experience at our resorts. We had particularly strong destination visitation this year, and growth in visitation primarily occurred during off peak periods. Throughout the North American ski season, our ancillary businesses continued to be capacity constrained by staffing, and in the case of dining, by operational restrictions associated with COVID-19." Regarding the Company's fiscal 2022 fourth quarter results, Lynch said, "Performance in the fourth quarter of fiscal year 2022 improved significantly from the prior year driven by strong demand and visitation at our Australian resorts and the continued recovery in our North American summer operations following the start of the COVID-19 pandemic. Our Australian resorts experienced record visitation, driven by strong demand following two years of COVID-19 related disruptions, continued momentum in advance commitment pass product sales following the addition of Hotham and Falls Creek in April 2019, and favorable early season conditions that continued throughout the quarter." Operating Results A more complete discussion of our operating results can be found within the Management's Discussion and Analysis of Financial Condition and Results of Operations section of the Company's Form 10-K for the fiscal year ended July 31, 2022, which was filed today with the Securities and Exchange Commission. The discussion of operating results below compares the results for the fiscal year ended July 31, 2022 to the fiscal year ended July 31, 2021, unless otherwise noted. The following are segment highlights: Mountain Segment Total lift revenue increased $233.6 million, or 21.7%, to $1,310.2 million primarily due to increased pass product sales for the 2021/2022 North American ski season, as well as an increase in non-pass lift ticket purchases. Ski school revenue increased $79.4 million, or 55.1%, dining revenue increased $71.5 million, or 77.6%, and retail/rental revenue increased $83.8 million, 36.7%, each primarily due to fewer COVID-19 related limitations and restrictions on our North American winter operations as compared to the prior year, as well as an increase in demand over the prior year. Operating expense increased $247.8 million, or 21.4%, which was primarily attributable to increased variable expenses associated with increases in revenue, and the impact of cost discipline efforts in the prior year associated with lower levels of operations, including limitations, restrictions and closures resulting from COVID-19. Mountain Reported EBITDA increased $258.4 million, or 46.8%, which includes $20.9 million of stock-based compensation for fiscal 2022 compared to $20.3 million in the prior year. Lodging Segment Lodging segment net revenue (excluding payroll cost reimbursements) increased $101.8 million, or 51.2%, primarily as a result of fewer COVID-19 related limitations and restrictions as compared to the prior year, as well as an increase in demand and average daily rates compared to the prior year and incremental revenue from the Seven Springs Resorts of $18.7 million. Lodging Reported EBITDA increased $33.8 million, or 418.0%, which includes $3.7 million of stock-based compensation expense in fiscal 2022 compared to $3.8 million in the prior year. Resort - Combination of Mountain and Lodging Segments Resort net revenue was $2,525.2 million for fiscal 2022, an increase of $617.3 million, or 32.4%, compared to resort net revenue of $1,907.9 million for fiscal 2021. Resort Reported EBITDA was $836.9 million for fiscal 2022, an increase of $292.3 million, or 53.7%, compared to fiscal 2021, and includes acquisition and integration related expenses, including expenses associated with the acquisition of Andermatt-Sedrun, of $7.7 million, which are recorded within Mountain other operating expense. Total Performance Total net revenue increased $616.2 million, or 32.3%, to $2,525.9 million. Net income attributable to Vail Resorts, Inc. was $347.9 million, or $8.55 per diluted share, for fiscal 2022 compared to net income attributable to Vail Resorts, Inc. of $127.9 million, or $3.13 per diluted share, in fiscal 2021. Net income attributable to Vail Resorts, Inc. for fiscal 2022 and fiscal 2021 included tax benefits of approximately $16.4 million and $17.9 million, respectively, related to employee exercises of equity awards (primarily related to the former CEO's exercise of SARs). Additionally, fiscal 2022 net income included the after-tax effect of acquisition and integration related expenses, as well as costs associated with the expected acquisition of Andermatt-Sedrun, which combined were approximately $5.8 million. Capital Structure and Return of Capital Commenting on capital allocation, Lynch said, "Our balance sheet and liquidity position remain strong. Our total cash and revolver availability as of July 31, 2022 was approximately $1.7 billion, with $1.1 billion of cash on hand, $417.4 million of U.S. revolver availability under the Vail Holdings Credit Agreement and $220.0 million of revolver availability under the Whistler Credit Agreement. As of July 31, 2022, our Net Debt was 2.0 times trailing twelve months Total Reported EBITDA. On August 31, 2022, the Company entered into an amendment of the Vail Holdings Credit Agreement, to extend the maturity date by two years to September 2026. The Company declared a quarterly cash dividend of $1.91 per share of Vail Resorts' common stock that will be payable on October 24, 2022 to shareholders of record as of October 5, 2022. Including shares repurchased during the fourth quarter, for the year ended July 31, 2022, the Company repurchased 304,567 shares of common stock at an average price of $246.27 for a total of approximately $75.0 million. We intend to maintain an opportunistic approach to share repurchases. We will continue to be disciplined stewards of our capital and remain committed to continuous investment in our people, strategic, high-return capital projects, strategic acquisition opportunities such as the recent additions of Andermatt-Sedrun and the Seven Springs Resorts, and returning capital to our shareholders through our quarterly dividend and share repurchase program." Season Pass Sales Commenting on the Company's season pass sales for the upcoming 2022/2023 North American ski season, Lynch said, "Advance commitment continues to be the foundation of our strategy, shifting guests from short term refundable lift ticket purchases to nonrefundable pass commitment before the season starts, in exchange for value. We are very pleased with the results for our season pass sales to date, which demonstrate the strength of the guest experience, our network of mountains resorts, and commitment to continually investing in the guest experience. Through September 23, 2022, North American ski season pass sales increased approximately 6% in units and 7% in sales dollars as compared to the period in the prior year through September 24, 2021, including sales for the Seven Springs Resorts in both periods, and adjusted to eliminate the impact of foreign currency by applying an exchange rate of $0.76 between the Canadian dollar and U.S. dollar in both periods for Whistler Blackcomb pass sales. These results are particularly strong considering the Company achieved growth of approximately 42% in units and 17% in sales dollars last year through September 17, 2021 compared to the prior year through September 18, 2020, excluding sales for the Seven Springs Resorts in both periods. "Our pass sales growth was driven by renewing pass holders, with particular strength in renewing pass product holders that were new to advance commitment products last year, and we saw strong growth particularly in destination markets. The strongest product growth was from Epic Day Pass products, attracting lower frequency guests into advance commitment products including the new tier of products launched in 2022/2023 with access to select regional and local resorts. Pass sales dollars continue to benefit from the 7.5% initial price increase and subsequent incremental price increases relative to the 2021/2022 season, largely offset by the mix impact of the growth of new pass holders into Epic Day Pass products, including our new lower priced Epic Day Pass offerings. Following the strong trade-up results last year, we are pleased that net migration among renewing pass product holders remains near neutral, with minimal degradation relative to our spring pass sales. As we enter the final period for season pass sales, we expect our December 2022 growth rates to be relatively consistent with our September 2022 growth rates." Lynch continued, "We continue to prioritize advance commitment as the best way for guests to access our resorts. Similar to last year, lift ticket sales will be limited during the 2022/2023 season in order to prioritize guests committing in advance and to preserve the guest experience at each resort. We expect these lift ticket limitations will further support our resorts and communities on peak days, and we do not anticipate that the limitations will have a significant impact on our financial results." Investments Commenting on the Company's investments for the 2022/2023 North American ski season, Lynch said, "The experience of our employees and guests is the core of our business model, and the Company is using its financial resources and the stability it has created through its advance commitment pass program to aggressively reinvest and deliver on our Company mission of providing an Experience of a Lifetime. As previously announced, the Company is making its largest ever investment in both its employees and its resorts. The Company is investing approximately $175 million in our employees, making our frontline talent a strategic advantage, including an industry-leading minimum wage plus career and leadership differentials across all 37 of our North American resorts, leadership development for frontline talent to build their careers at Vail Resorts, investments in affordable housing for our employees, and expanding our human resources department to better serve our employees. The Company achieved full staffing levels for summer in North America and across our three Australian resorts for winter. While is it very early in our hiring process for North America winter season staffing, our hiring is currently on track for full staffing levels. "We remain dedicated to delivering an exceptional guest experience and will continue to prioritize reinvesting in the experience at our resorts. We are committed to consistently increasing capacity through lift, terrain and food and beverage expansion projects and are on track to complete 18 new or replacement lifts across 12 resorts in advance of the 2022/2023 North American ski season as part of our one-time incremental investment this year to accelerate that strategy, which will meaningfully increase lift capacity at those lift locations. At Vail Mountain, this includes the installation of a new four-person high speed lift in the Sun Down Bowl and the replacement of a four-person lift with a new six-person high speed lift in the Game Creek Bowl. At Whistler Blackcomb, this includes the replacement of the four-person high speed Big Red Express lift with a new six-person high speed lift and the replacement of the six-person Creekside Gondola with a new 10-person high speed gondola. As discussed in prior announcements, we are also installing new or replacement lifts at Breckenridge, Northstar, Heavenly, Stowe, Mount Snow, Attitash, Jack Frost, Big Boulder, Boston Mills and Brandywine. "While 18 lift projects are on track for the 2022/2023 season, three lift projects have been delayed and are expected to be completed in calendar year 2023, subject to approvals. In Park City, the Park City Planning Department approved a permit to upgrade the Eagle and Silverlode lifts at Park City Mountain in April 2022, and the Planning Commission subsequently revoked that permit in June 2022. While the Company is committed to resolving our permit to upgrade the Eagle and Silverlode lifts in Park City, the Company intends to install the two previously-purchased lifts at Whistler Blackcomb in calendar year 2023, replacing the four-person high speed Jersey Cream lift with a new six-person high speed lift and replacing the four-person high speed Fitzsimmons lift with a new eight-person high speed lift. The Whistler Blackcomb lift installations remain subject to approvals. The lift-served terrain expansion project in Bergman Bowl at Keystone is delayed due to a previously disclosed construction issue impacting an area where minimal construction was permitted. While Keystone's Bergman Bowl is planned to be open to guests for the 2022/2023 ski season, the lift installation is delayed with the goal for completion in advance of the 2023/2024 ski season. "Our capital plan for calendar year 2022 was previously expected to be approximately $327 million to $337 million. Due to the delays for the Park City and Keystone lift projects, we will be deferring approximately $10 million of capital from calendar year 2022 to calendar year 2023. We now expect our capital plan for calendar year 2022 to be approximately $323 million to $333 million, including one-time investments in real estate related projects, $4 million related to the addition of Andermatt-Sedrun, and integration activities associated with the Seven Springs Resorts. In addition to the $10 million of cost deferred from calendar year 2022, the Company expects to incur approximately $20 million in additional costs related to the Park City and Keystone lift projects, which is included in our calendar year 2023 capital plan." Regarding calendar year 2023 capital expenditures, Lynch said, "In addition to this year's significant capacity-expanding investments, we are excited to announce details of our calendar year 2023 capital plan. We expect our capital plan for calendar year 2023 to be approximately $180 million to $185 million, including $2 million of maintenance capital for Andermatt-Sedrun and excluding $1 million of one-time investments related to integration activities and $10 million of deferred capital associated with the Keystone and Park City projects. Including these one-time investments, our total capital plan for calendar year 2023 is expected to be approximately $191 million to $196 million. This calendar year 2023 capital plan currently excludes growth capital investments at Andermatt-Sedrun, which we expect to announce along with further details on our calendar year 2023 capital plan in December 2022. "At Breckenridge, we plan to upgrade the Peak 8 base area to enhance the beginner and children's experience and increase uphill capacity from this popular base area. The investment plan includes a new four-person high speed 5-Chair to replace the existing two-person fixed-grip lift as well as significant improvements, including new teaching terrain and a transport carpet from the base, to make the beginner experience more accessible. At Stevens Pass, we are planning to replace the two-person fixed-grip Kehr's Chair lift with a new four-person lift, which is designed to improve out-of-base capacity and guest experience. At Attitash, we plan to replace the three-person fixed-grip Summit Triple lift with a new four-person high speed lift to increase uphill capacity and reduce guests' time on the longest lift at the resort. These lift projects are subject to regulatory approvals and are currently planned to be completed in time for the 2023/2024 North American winter season. Additionally, the Company plans to expand parking across 4 resorts by more than 500 spaces, to improve the guest experience. "The Company is planning to introduce new technology for the 2023/2024 North American ski season that will allow guests to store their pass product or lift ticket directly on their phone, eliminating the need for carrying plastic cards, visiting the ticket window or waiting to receive a pass or lift ticket in the mail. Once loaded on their phones, guests can store their phone in their pocket, and get scanned, hands free, in the lift line using Bluetooth® Low Energy technology. In addition to the significant enhancement of the guest experience, this technology will also reduce waste of printing plastic cards for pass products and lift tickets, and RFID chips, as a part of the Company's Commitment to Zero. Even after launch, the Company will continue to make plastic cards available to any guests who cannot or do not want to use their phone to store their pass product or lift ticket. The Company is also investing in network-wide scalable technology that will enhance our analytics, e-commerce and guest engagement tools to improve our ability to target our guest outreach, personalize messages and improve conversion." Andermatt-Sedrun As previously announced, on August 3, 2022 the Company closed on its purchase of a majority stake in Andermatt-Sedrun, marking the Company's first strategic investment in, and opportunity to operate, a ski resort in Europe. Andermatt-Sedrun is a renowned destination ski resort in Central Switzerland, located less than 90 minutes from three of Switzerland's major metropolitan areas (Zurich, Lucerne and Lugano) and approximately two hours from Milan, Italy. The Company acquired a 55% ownership stake in Andermatt-Sedrun, which controls and operates all of the resort's mountain and ski-related assets, including lifts, most of the restaurants and a ski school operation. Vail Resorts' CHF 149 million investment is comprised of a CHF 110 million investment into Andermatt-Sedrun for use in capital investments to enhance the guest experience on the mountain and CHF 39 million paid to Andermatt Swiss Alps AG, which will be fully reinvested into the real estate developments in the base area. For the 2022/2023 season, Epic Pass holders will receive unlimited and unrestricted access to Andermatt-Sedrun (without Matterhorn Gotthard Bahn access). Epic Local Pass holders receive five days at the resort, and Epic Day Pass holders with All Resorts Access will be able to visit during any of their days. Guidance Commenting on guidance, Lynch said, "As we head into fiscal year 2023, we are encouraged by the strength in advance commitment product sales and our continued focus on enhancing the guest and employee experience while maintaining cost discipline. Our employee investment of approximately $175 million to return to full staffing levels and operational footprints, along with our expected capital investment of over $300 million in calendar year 2022, are expected to further elevate the guest experience this season and increase the capacity of our resorts. "Despite facing broad cost inflation and after incorporating our industry-leading wage investment, we expect meaningful growth for fiscal 2023 relative to fiscal 2022 and strong Resort EBITDA margin. Our guidance for net income attributable to Vail Resorts, Inc. is estimated to be between $321 million and $396 million for fiscal 2023. We estimate Resort Reported EBITDA for fiscal 2023 will be between $893 million and $947 million. We expect the operations of the Seven Springs Resorts and Andermatt-Sedrun to contribute approximately $22 million of Resort Reported EBITDA in fiscal year 2023, which is an incremental $4 million of Resort Reported EBITDA compared to fiscal year 2022, excluding acquisition and integration related expenses. Acquisition and integration related expenses are expected to be an estimated $4 million in fiscal year 2023 associated with the resort acquisitions. We estimate Resort EBITDA Margin for fiscal 2023 to be approximately 31.0% using the midpoint of the guidance range. The guidance assumes a continuation of the current economic environment, normal weather conditions, and no material impacts associated with COVID-19 for the 2022/2023 North American and European ski season or the 2022 and 2023 Australian ski seasons. The guidance also assumes a return to full staffing levels and operational footprints consistent with the expectations shared in the Company's March 2022 Investor Conference Presentation. The guidance assumes an exchange rate of $0.77 between the Canadian Dollar and U.S. Dollar related to the operations of Whistler Blackcomb in Canada, an exchange rate of $0.70 between the Australian Dollar and U.S. Dollar related to the operations of Perisher, Falls Creek and Hotham in Australia, and an exchange rate of $1.02 between the Swiss Franc and U.S. Dollar related to the operations of Andermatt-Sedrun in Switzerland." The following table reflects the forecasted guidance range for the Company's fiscal 2023 full year ending July 31, 2023 for Reported EBITDA (after stock-based compensation expense) and reconciles net income attributable to Vail Resorts, Inc. guidance to such Reported EBITDA guidance. Fiscal 2023 Guidance (In thousands) For the Year Ending July 31, 2023 (6) Low End High End Range Range Net income attributable to Vail Resorts, Inc. $          321,000 $          396,000 Net income attributable to noncontrolling interests 21,000 15,000 Net income 342,000 411,000 Provision for income taxes (1) 120,000 145,000 Income before income taxes 462,000 556,000 Depreciation and amortization 282,000 266,000 Interest expense, net 142,000 134,000 Other (2) 4,000 (6,000) Total Reported EBITDA $          890,000 $          950,000 Mountain Reported EBITDA (3) $          872,000 $          924,000 Lodging Reported EBITDA (4) 18,000 26,000 Resort Reported EBITDA (5) 893,000 947,000 Real Estate Reported EBITDA (3,000) 3,000 Total Reported EBITDA $          890,000 $          950,000 (1) The provision for income taxes may be impacted by excess tax benefits primarily resulting from vesting and exercises of equity awards. Our estimated provision for income taxes does not include the impact, if any, of unknown future exercises of employee equity awards, which could have a material impact given that a significant portion of our awards are in-the-money. (2) Our guidance includes certain known changes in the fair value of the contingent consideration based solely on the passage of time and resulting impact on present value. Guidance excludes any change based upon, among other things, financial projections including long-term growth rates for Park City, which such change may be material. Separately, the intercompany loan associated with the Whistler Blackcomb transaction requires foreign currency remeasurement to Canadian dollars, the functional currency of Whistler Blackcomb. Our guidance excludes any forward looking change related to foreign currency gains or losses on the intercompany loans, which such change may be material. (3) Mountain Reported EBITDA also includes approximately $21 million of stock-based compensation. (4) Lodging Reported EBITDA also includes approximately $4 million of stock-based compensation. (5) The Company provides Reported EBITDA ranges for the Mountain and Lodging segments, as well as for the two combined. The low and high of the expected ranges provided for the Mountain and Lodging segments, while possible, do not sum to the high or low end of the Resort Reported EBITDA range provided because we do not expect or assume that we will hit the low or high end of both ranges. (6) Guidance estimates are predicated on an exchange rate of $0.77 between the Canadian Dollar and U.S. Dollar, related to the operations of Whistler Blackcomb in Canada; an exchange rate of $0.70 between the Australian Dollar and U.S. Dollar, related to the operations of our Australian ski areas; and an exchange rate of $1.02 between the Swiss Franc and U.S. Dollar, related to the operations of Andermatt-Sedrun in Switzerland.   Earnings Conference Call The Company will conduct a conference call today at 5:00 p.m. eastern time to discuss the financial results. The call will be webcast and can be accessed at www.vailresorts.com in the Investor Relations section, or dial (800) 289-0720 (U.S. and Canada) or (323) 701-0160 (international). A replay of the conference call will be available two hours following the conclusion of the conference call through October 12, 2022, at 8:00 p.m. eastern time. To access the replay, dial (888) 203-1112 (U.S. and Canada) or (719) 457-0820 (international), pass code 6897712. The conference call will also be archived at www.vailresorts.com. About Vail Resorts, Inc. (NYSE:MTN) Vail Resorts is a network of the best destination and close-to-home ski resorts in the world including Vail Mountain, Breckenridge, Park City Mountain, Whistler Blackcomb, Stowe, and 32 additional resorts across North America; Andermatt-Sedrun in Switzerland; and Perisher, Hotham, and Falls Creek in Australia. We are passionate about providing an Experience of a Lifetime to our team members and guests, and our EpicPromise is to reach a zero net operating footprint by 2030, support our employees and communities, and broaden engagement in our sport. Our company owns and/or manages a collection of elegant hotels under the RockResorts brand, a portfolio of vacation rentals, condominiums and branded hotels located in close proximity to our mountain destinations, as well as the Grand Teton Lodge Company in Jackson Hole, Wyo. Vail Resorts Retail operates more than 250 retail and rental locations across North America. Learn more about our company at www.VailResorts.com, or discover our resorts and pass options at www.EpicPass.com. Forward-Looking Statements Certain statements discussed in this press release and on the conference call, other than statements of historical information, are forward-looking statements within the meaning of the federal securities laws, including the statements regarding fiscal 2023 performance (including the assumptions related thereto), including our expected net income and Resort Reported EBITDA; our expectations regarding our liquidity; expectations related to our season pass products; our expectations regarding our ancillary lines of business; the payment of dividends; the effects of the COVID-19 pandemic on, among other things, our operations; and our calendar year 2022 and calendar year 2023 capital plan and expectations related thereto. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. Such risks and uncertainties include but are not limited to the ultimate duration of COVID-19 and its short-term and long-term impacts on consumer behaviors, the economy generally and our business and results of operations, including the ultimate amount of refunds that we would be required to refund to our pass product holders for qualifying circumstances under our Epic Coverage program; prolonged weakness in general economic conditions, including adverse effects on the overall travel and leisure related industries; willingness or ability of our guests to travel due to terrorism, the uncertainty of military conflicts or outbreaks of contagious diseases (such as the ongoing COVID-19 pandemic), and the cost and availability of travel options and changing consumer preferences; unfavorable weather conditions or the impact of natural disasters; risks related to interruptions or disruptions of our information technology systems, data security or cyberattacks; risks related to our reliance on information technology, including our failure to maintain the integrity of our customer or employee data and our ability to adapt to technological developments or industry trends; the seasonality of our business combined with adverse events that occur during our peak operating periods; competition in our mountain and lodging businesses or with other recreational and leisure activities; high fixed cost structure of our business; our ability to fund resort capital expenditures; risks related to a disruption in our water supply that would impact our snowmaking capabilities and operations; our ...Full story available on Benzinga.com.....»»

Category: earningsSource: benzingaSep 29th, 2022

Vail Resorts Reports Fiscal 2022 Third Quarter Results, Early Season Pass Sales Results, and Provides Updated Fiscal 2022 Outlook

BROOMFIELD, Colo., June 9, 2022 /PRNewswire/ -- Vail Resorts, Inc. (NYSE:MTN) today reported results for the third quarter of fiscal 2022 ended April 30, 2022, which were negatively impacted by COVID-19 and related limitations and restrictions, and reported results of its early season pass sales for the 2022/2023 North American ski season. Highlights Net income attributable to Vail Resorts, Inc. was $372.6 million for the third fiscal quarter of 2022 compared to net income attributable to Vail Resorts, Inc. of $274.6 million in the same period in the prior year. The increase is primarily due to the greater impact of COVID-19 and related limitations and restrictions on results in the prior year. Resort Reported EBITDA was $610.5 million for the third fiscal quarter of 2022, compared to Resort Reported EBITDA of $462.2 million for the third fiscal quarter of 2021. The increase is primarily due to the greater impact of COVID-19 and related limitations and restrictions on results in the prior year. The Company updated its fiscal 2022 guidance range and is now expecting Resort Reported EBITDA to be between $828 million and $842 million. The guidance range includes an estimated $16 million of Resort Reported EBITDA from the recently acquired operations of Seven Springs, Hidden Valley and Laurel Mountain resorts (together, the "Seven Springs Resorts") for the period from the transaction closing on December 31, 2021 through the end of the fiscal year, partially offset by $7 million of acquisition and integration related expenses associated with the Seven Springs Resorts transaction and the expected acquisition of Andermatt-Sedrun Sport AG ("Andermatt-Sedrun"). Pass product sales through May 31, 2022 for the upcoming 2022/2023 North American ski season increased approximately 9% in units and approximately 11% in sales dollars as compared to the period in the prior year through June 1, 2021. Pass product sales are adjusted to include pass sales for the Seven Springs Resorts in both periods and to eliminate the impact of foreign currency by applying an exchange rate of $0.79 between the Canadian dollar and U.S. dollar in both periods for Whistler Blackcomb pass sales. The Company declared a quarterly cash dividend of $1.91 per share of Vail Resorts' common stock that will be payable on July 12, 2022 to shareholders of record as of June 27, 2022 and repurchased 303,143 shares at an average price of $246.33 for a total of approximately $74.7 million from the beginning of the Company's third quarter of fiscal 2022 through June 8, 2022. Commenting on the Company's fiscal 2022 third quarter results, Kirsten Lynch, Chief Executive Officer, said, "We are pleased with our overall results for the quarter and for the 2021/2022 North American ski season. As expected, results for the quarter significantly outperformed results from the prior year primarily due to the greater impact of COVID-19 and related limitations and restrictions on results in the prior year period. "This year, challenging early season conditions persisted through the holiday period, but our results were strong from January through the remainder of the season. Our strong season pass sales heading into the 2021/2022 season are the foundation of our advance commitment strategy, creating stability for the Company through variable weather and other challenges. This past season, approximately 72% of all Vail Resorts 2021/2022 North American skier visitation was on a pass product, excluding employee and complimentary visitation, which compares to approximately 60% and approximately 51% for the 2018/2019 and 2014/2015 North American ski seasons, respectively. We had particularly strong destination visitation this year, which was further supported by lift ticket sales at our Colorado and Utah resorts that exceeded our expectations through the spring. Our recent results at Whistler Blackcomb were also stronger than expected due to the easing of travel restrictions in Canada in late February. Recent performance at our eastern U.S. ski areas was in-line with our expectations while our Tahoe resorts were impacted by challenging spring conditions, resulting in performance below our expectations. Throughout the season, our ancillary businesses continued to be capacity constrained by staffing, and in the case of dining, by operational restrictions associated with COVID-19. Overall, our results throughout the 2021/2022 North American ski season highlight the stability resulting from our advance commitment pass products in a season with challenging early season conditions, staffing challenges and COVID-19 impacts, and demonstrate our strong operational execution following the holiday period through the end of the season. We are very pleased to see the growth in visitation this season, and in particular that it primarily occurred during off peak periods. The trend towards off-peak visitation growth continued throughout the ski season this year. For the season-to-date period ended April 30, 2022, compared to the season-to-date period ended May 5, 2019, visitation on weekday and non-holiday periods increased approximately 8% while visitation on weekend and holiday periods decreased approximately 3%, excluding Peak Resorts visitation in both periods. We believe this trend is driven by the growth in pass sales as pass holders tend to spread their visitation more across the season, and, with the increase in flexible and remote work, we expect this trend to continue. Further, the growth in non-peak periods was broad based across our resorts. Despite the growth in overall visits this past season, very few of our resorts even approached their historical maximum daily visitation, as our resorts averaged only 1 day this season exceeding 95% of their historical peak daily visitation and only 6 resorts had more than 1 day above that level, excluding the recently acquired Seven Springs Resorts. All of this highlights that there is considerable opportunity to continue to grow the overall industry and skier visits outside of peak periods, and that it is critical that we continue to invest in people and infrastructure to continue to improve the employee and guest experience throughout the season. Commenting on fiscal 2022 guidance, Lynch said, "Based on the strong finish to the season, particularly driven by destination guest visitation and lift ticket sales in Colorado, Utah and Whistler Blackcomb that exceeded our expectations, we now expect net income attributable to Vail Resorts, Inc. for fiscal 2022 to be between $314 million and $348 million, and Resort Reported EBITDA for fiscal 2022 to be between $828 million and $842 million. The guidance range includes an estimated $16 million of Resort Reported EBITDA for the Seven Springs Resorts for the period from the transaction closing on December 31, 2021 through the end of the fiscal year, partially offset by $7 million of acquisition and integration related expenses associated with the Seven Springs Resorts transaction and the expected acquisition of Andermatt-Sedrun." Andermatt-Sedrun Sport AG As previously announced on March 28, 2022, the Company entered into an agreement to purchase a majority stake in Andermatt-Sedrun from Andermatt Swiss Alps AG ("ASA"), marking the Company's first strategic investment in, and opportunity to operate, a ski resort in Europe. Andermatt-Sedrun is a renowned destination ski resort in Central Switzerland, located less than 90 minutes from three of Switzerland's major metropolitan areas (Zurich, Lucerne and Lugano) and approximately two hours from Milan, Italy. Upon the closing of the acquisition, the Company will acquire a 55% ownership stake in Andermatt-Sedrun, which controls and operates all of the resort's mountain and ski-related assets, including lifts, most of the restaurants and a ski school operation. ASA will retain a 40% ownership stake in Andermatt-Sedrun, with a group of existing shareholders comprising the remaining 5% ownership. Vail Resorts' CHF 149 million investment is comprised of a CHF 110 million investment into Andermatt-Sedrun for use in capital investments to enhance the guest experience on the mountain and CHF 39 million, which will be paid to ASA and fully reinvested into the real estate developments in the base area. Vail Resorts will assume operating and marketing responsibility for Andermatt-Sedrun, with ASA and local stakeholders continuing as key members of the board of directors. The transaction is expected to close prior to the 2022/2023 ski season, subject to certain third-party consents. Vail Resorts plans to include unlimited and unrestricted access to Andermatt-Sedrun on the 2022/2023 Epic Pass. Epic Day Pass holders with All Resorts Access will be able to use any of their days at Andermatt-Sedrun, and Epic Local Pass holders will receive five days of unrestricted access to the resort. All pass access is subject to the timing of the transaction closing. Operating Results A more complete discussion of our operating results can be found within the Management's Discussion and Analysis of Financial Condition and Results of Operations section of the Company's Form 10-Q for the third fiscal quarter ended April 30, 2022, which was filed today with the Securities and Exchange Commission. The following are segment highlights: Mountain Segment Total lift revenue increased $137.0 million, or 23.7%, compared to the same period in the prior year, to $714.7 million for the three months ended April 30, 2022, primarily due to increased pass product sales for the 2021/2022 North American ski season, as well as an increase in non-pass lift ticket purchases. Ski school revenue increased $40.5 million, or 50.4%, dining revenue increased $33.8 million, or 73.6% and retail/rental revenue increased $35.2 million, or 38.6%, each primarily due to fewer COVID-19 related limitations and restrictions on our North American winter operations as compared to the prior year, as well as an increase in demand over the prior year. Operating expense increased $115.0 million, or 30.7%, which was primarily attributable to increased variable expenses associated with increases in revenue, and the impact of cost discipline efforts in the prior year associated with lower levels of operations, including limitations, restrictions and closures resulting from COVID-19. Mountain Reported EBITDA increased $139.1 million, or 30.4%, for the third quarter compared to the same period in the prior year, which includes $5.1 million of stock-based compensation expense for both the three months ended April 30, 2022 and 2021. Lodging Segment Lodging segment net revenue (excluding payroll cost reimbursements) for the three months ended April 30, 2022 increased $30.8 million, or 54.6%, as compared to the same period in the prior year, primarily as a result of fewer COVID-19 related limitations and restrictions as compared to the prior year, as well as an increase in demand and average daily rates compared to the prior year. Lodging Reported EBITDA for the three months ended April 30, 2022 increased $9.2 million, or 173.1%, for the third quarter compared to the same period in the prior year, which includes $0.9 million and $1.0 million of stock-based compensation expense for the three months ended April 30, 2022 and 2021, respectively. Resort - Combination of Mountain and Lodging Segments Resort net revenue increased $288.3 million, or 32.5%, compared to the same period in the prior year, to $1,176.5 million for the three months ended April 30, 2022. Resort Reported EBITDA was $610.5 million for the three months ended April 30, 2022, an increase of $148.3 million, or 32.1%, compared to the same period in the prior year, which includes acquisition and integration related expenses, as well as expenses associated with the expected acquisition of Andermatt-Sedrun, of $1.0 million, which are both recorded within Mountain other operating expense. Total Performance Total net revenue increased $287.6 million, or 32.3%, compared to the same period in the prior year, to $1,176.7 million for the three months ended April 30, 2022. Net income attributable to Vail Resorts, Inc. was $372.6 million, or $9.16 per diluted share, for the third quarter of fiscal 2022 compared to net income attributable to Vail Resorts, Inc. of $274.6 million, or $6.72 per diluted share, in the third fiscal quarter of the prior year. Additionally, fiscal 2022 third quarter net income included the after-tax effect of acquisition and integration related expenses, as well as costs associated with the expected acquisition of Andermatt-Sedrun, which combined were approximately $0.8 million. Return of Capital Commenting on capital allocation, Lynch said, "Our balance sheet and liquidity position remain strong. Our total cash and revolver availability as of April 30, 2022 was approximately $2.0 billion, with $1.4 billion of cash on hand, $417 million of U.S. revolver availability under the Vail Holdings Credit Agreement and $212 million of revolver availability under the Whistler Credit Agreement. As of April 30, 2022, our Net Debt was 1.7 times trailing twelve months Total Reported EBITDA. The Company declared a quarterly cash dividend of $1.91 per share of Vail Resorts' common stock that will be payable on July 12, 2022 to shareholders of record as of June 27, 2022. A Canadian dollar equivalent dividend on the exchangeable shares of Whistler Blackcomb Holdings Inc. will be payable on July 12, 2022 to shareholders of record as of June 27, 2022. The exchangeable shares were issued to certain Canadian persons in connection with our acquisition of Whistler Blackcomb Holdings Inc. Additionally, from the beginning of the Company's third quarter of fiscal 2022 through June 8, 2022, the Company repurchased 303,143 shares at an average price of $246.33 for a total of approximately $74.7 million. We intend to maintain an opportunistic approach to share repurchases. We will continue to be disciplined stewards of our capital and remain committed to continuous investment in our people, strategic, high-return capital projects, strategic acquisition opportunities and returning capital to our shareholders through our quarterly dividend and share repurchase programs." Commitment to our Employees and Guests Commenting on the Company's investments for the 2022/2023 ski season, Lynch said, "As we turn our attention to the 2022/2023 ski season and beyond, the Company is making its largest ever investment in both its employees and its resorts, to ensure we continue to deliver our Company mission of an Experience of a Lifetime. The experience of our employees and guests is the core of our business model, and the Company intends to use its financial resources and the stability it has created through its pass program to continue to aggressively reinvest to deliver that experience. We believe our business model allows us to make these investments and achieve our short and long-term financial growth objectives. "For our employees, we are investing approximately $175 million in incremental expected labor expense, including inflationary adjustments, in fiscal 2023 compared to fiscal 2022 to support our employees and return our resorts to normal staffing levels. The investment includes increasing the minimum hourly wage offered across all 37 of our North American resorts to $20 per hour for all U.S. employees and C$20 per hour for all Canadian employees, and increases for hourly employees with adjustments for leadership and career stage differentials. Roles that have specific experiences or certification as prerequisites, such as entry-level patrol, commercial drivers, and maintenance technicians will start at $21 per hour. Tipped employees will be guaranteed a minimum of $20 per hour. The wage investment represents an average wage increase of nearly 30% across hourly employees in North America. Additionally, the Company will be launching a new seasonal frontline leadership development program with the goal of supporting our seasonal frontline team members' leadership development and ability to build a career at Vail Resorts. The Company will be assessing targeted increases, beyond inflation, for our salaried employees and will be making a significant investment in our human resource department to ensure the right level of employee support, development and recruiting. We believe talent is our most important asset and our employees are our strategic priority at all levels of the Company, and our employee investments are intended to help us achieve normal staffing levels that, in turn, deliver an outstanding guest experience. Additional information on the employee investments and anticipated financial impacts are available in our March 2022 investor presentation available on our Investor Relations website. "In addition, Vail Resorts has made a commitment to affordable housing in our mountain communities. Affordable housing is a national and a mountain community crisis. As previously announced, we are investing in four projects to provide accessible and affordable housing for our employees at Park City Mountain in Utah, Whistler Blackcomb in British Columbia, Vail Mountain in Colorado, and Okemo Mountain Resort in Vermont. Collectively, the four investments would provide new affordable housing to more than 875 Vail Resorts employees, marking a more than 10% increase in affordable employee housing offered by the Company across its resorts. We believe it is time for us, and our communities, to make affordable housing a top priority and accelerate the processes to ensure we bring these affordable housing opportunities to fruition." Regarding calendar year 2022 capital expenditures, Lynch said, "We remain dedicated to delivering an exceptional guest experience and will continue to prioritize reinvesting in the experience at our resorts. We are committed to consistently increasing capacity through lift, terrain and food and beverage expansion projects and are making a significant one-time incremental investment this year to accelerate that strategy with our ambitious capital investment plan for calendar year 2022 of approximately $315 million to $325 million across our resorts, excluding one-time investments related to integration activities, employee housing development projects and real estate related projects. The plan includes approximately $180 million for the installation of 21 new or replacement lifts across 14 of our resorts and a transformational lift-served terrain expansion at Keystone. In addition to the two brand new lift configurations at Vail and Keystone, the replacement lifts will collectively increase lift capacity at those lift locations by more than 45%. Projects in the plan are subject to regulatory approvals and, assuming timely approvals, are currently expected to be completed in time for the 2022/2023 North American winter season. "The core capital plan is approximately $150 million above our typical annual capital plan, based on inflation and previous additions for acquisitions. We plan to spend approximately $9 million on integration activities related to the recently acquired Seven Springs Resorts. Including one-time investments related to integration activities and $3 million associated with real estate related projects, our total capital plan is expected to be approximately $327 million to $337 million. Including our calendar year 2022 capital plan, Vail Resorts will have invested over $2 billion in capital since launching the Epic Pass, increasing capacity, improving the guest experience and creating an integrated resort network." Regarding calendar year 2023 capital expenditures, Lynch said, "In addition to this year's significant capacity expanding investments, planning is already underway for our calendar year 2023 capital plan, and we are pleased to announce the first projects from that plan, with additional calendar year 2023 investments and upgrades to be announced in the coming quarters. At Breckenridge, we plan to upgrade the Peak 8 base area to enhance the beginner and children's experience and increase uphill capacity from this popular base area. The investment plan will include a new four-person high speed 5-Chair to replace the existing two-person fixed-grip lift and will include significant improvements, including new teaching terrain and a transport carpet from the base, to make the beginner experience more accessible. At Stevens Pass, we are planning to replace the two-person fixed-grip Kehr's Chair lift with a new four-person lift, which will improve out-of-base capacity and guest experience. At Attitash, we plan to replace the three-person fixed-grip Summit Triple lift with a new four-person high speed lift, increasing uphill capacity and reducing guests' time on the longest lift at the resort. These lift projects are subject to regulatory approvals and are currently expected to be completed in time for the 2023/2024 North American winter season." Season Pass Sales Commenting on the Company's season pass sales for the upcoming 2022/2023 North American ski season, Lynch said, "Following a rapid acceleration of growth in our advance commitment strategy over the last two years that nearly doubled the number of our guests in advance commitment products, we are very pleased with the results for our spring season pass sales to date with strong unit growth over the record pass sales results we saw last spring, validating the compelling network of resorts, guest experience and value provided for our guests. Pass product sales through May 31, 2022 for the upcoming 2022/2023 North American ski season increased approximately 9% in units and approximately 11% in sales dollars as compared to the period in the prior year through June 1, 2021. Pass product sales are adjusted to include pass sales for the Seven Springs Resorts in both periods and to eliminate the impact of foreign currency by applying an exchange rate of $0.79 between the Canadian dollar and U.S. dollar in both periods for Whistler Blackcomb pass sales." Lynch continued, "Relative to season to date pass product sales for the 2021/2022 season through June 1, 2021, we saw strong unit growth with our renewing pass holders. Our strongest unit growth was in our destination markets as travel continues to rebound following the impacts from COVID-19, and we saw more moderated unit sales across our local markets where pass penetration is already higher. Our Epic Day Pass products continue to drive our strongest product growth as we attract lower frequency guests into advance commitment products as first time pass holders and with the 2022/23 launch of a new tier of products with access to select regional and local resorts. Pass sales dollars are benefiting from the 7.5% price increase relative to the 2021/2022 season, largely offset by the impact of the growth of Epic Day Pass products, including our new lower priced Epic Day Pass offerings. Following the strong trade-up results last year, we are pleased that we achieved neutral net migration among renewing pass holders in our spring pass sales. We have the majority of our pass selling season ahead of us, and, as more guests purchase passes in the spring, we believe the full year unit and sales growth rate will be lower than our spring growth rate. We will provide more information about our pass sales results in our September 2022 earnings release." Regarding Epic Australia Pass sales, Lynch commented, "We are very pleased with ongoing sales of the Epic Australia Pass, which end on June 15, 2022. Unit sales are up approximately 28% through May 31, 2022, as compared to the comparable period through June 1, 2021, as we continue to benefit from the acquisition of Falls Creek and Hotham in 2019." Updated Outlook Net income attributable to Vail Resorts, Inc. is expected to be between $314 million and $348 million for fiscal 2022. Resort Reported EBITDA is expected to be between $828 million and $842 million for fiscal 2022, which includes an estimated $16 million of Resort Reported EBITDA for the Seven Springs Resorts for the period from the transaction closing on December 31, 2021 through the end of the fiscal year, partially offset by $7 million of acquisition and integration related expenses associated with the Seven Springs Resorts transaction and the expected acquisition of Andermatt-Sedrun. Our guidance includes estimated acquisition related expenses specific to the expected acquisition of Andermatt-Sedrun, but does not include any estimate for the closing costs, operating results or integration expense associated with the Andermatt-Sedrun acquisition, which is expected to close later in calendar year 2022. Resort EBITDA Margin is expected to be approximately 33.0% in fiscal 2022 at the midpoint of our guidance range. In addition to the above, the updated outlook for fiscal year 2022 assumes normal conditions and operations throughout the Australian ski season and North American summer season, both of which begin in our fourth quarter, and no incremental travel or operating restrictions associated with COVID-19 that could negatively impact our results. The guidance also assumes an exchange rate of $0.79 between the Canadian Dollar and U.S. Dollar related to the operations of Whistler Blackcomb in Canada and an exchange rate of $0.74 between the Australian Dollar and U.S. Dollar related to the operations of Perisher, Falls Creek and Hotham in Australia. The following table reflects the forecasted guidance range for the Company's fiscal year ending July 31, 2022, for Reported EBITDA (after stock-based compensation expense) and reconciles such Reported EBITDA guidance to net income attributable to Vail Resorts, Inc. Fiscal 2022 Guidance (In thousands) For the Year Ending July 31, 2022 (6) Low End High End Range Range Net income attributable to Vail Resorts, Inc. $                314,000 $                348,000 Net income attributable to noncontrolling interests 24,000 18,000 Net income 338,000 366,000 Provision for income taxes (1) 70,000 76,000 Income before provision for income taxes 408,000 442,000 Depreciation and amortization 253,000 249,000 Interest expense, net 150,000 146,000 Other (2) 12,000 5,000      Total Reported EBITDA $                823,000 $                842,000 Mountain Reported EBITDA (3) $                797,000 $                811,000 Lodging Reported EBITDA (4) 30,000 33,000      Resort Reported EBITDA (5) 828,000 842,000 Real Estate Reported EBITDA (5,000) —      Total Reported EBITDA $                823,000 $                842,000 (1) The provision for income taxes may be impacted by excess tax benefits primarily resulting from vesting and exercises of equity awards. Our estimated provision for income taxes does not include the impact, if any, of unknown future exercises of employee equity awards, which could have a material impact given that a significant portion of our awards are in-the-money. (2) Our guidance includes certain known changes in the fair value of the contingent consideration based solely on the passage of time and resulting impact on present value. Guidance excludes any change based upon, among other things, financial projections including long-term growth rates for Park City, which such change may be material. Separately, the intercompany loan associated with the Whistler Blackcomb transaction requires foreign currency remeasurement to Canadian dollars, the functional currency of Whistler Blackcomb. Our guidance excludes any forward looking change related to foreign currency gains or losses on the intercompany loans, which such change may be material. (3) Mountain Reported EBITDA also includes approximately $21 million of stock-based compensation. (4) Lodging Reported EBITDA also includes approximately $4 million of stock-based compensation. (5) The Company provides Reported EBITDA ranges for the Mountain and Lodging segments, as well as for the two combined. The low and high of the expected ranges provided for the Mountain and Lodging segments, while possible, do not sum to the high or low end of the Resort Reported EBITDA range provided because we do not expect or assume that we will hit the low or high end of both ranges. (6) Guidance estimates are predicated on an exchange rate of $0.79 between the Canadian Dollar and U.S. Dollar, related to the operations of Whistler Blackcomb in Canada and an exchange rate of $0.74 between the Australian Dollar and U.S. Dollar, related to the operations of our Australian ski areas.   Earnings Conference Call The Company will conduct a conference call today at 5:00 p.m. eastern time to discuss the financial results. The call will be webcast and can be accessed at www.vailresorts.com in the Investor Relations section, or dial (800) 289-0720 (U.S. and Canada) or (323) 701-0160 (international). A replay of the conference call will be available two hours following the conclusion of the conference call through June 23, 2022, at 8:00 p.m. eastern time. To access the replay, dial (888) 203-1112 (U.S. and Canada) or (719) 457-0820 (international), pass code 8537966. The conference call will also be archived at www.vailresorts.com. About Vail Resorts, Inc. (NYSE:MTN) Vail Resorts, Inc., through its subsidiaries, is the leading global mountain resort operator. Vail Resorts' subsidiaries operate 40 destination mountain resorts and regional ski areas, including Vail, Beaver Creek, Breckenridge, Keystone and Crested Butte in Colorado; Park City in Utah; Heavenly, Northstar and Kirkwood in the Lake Tahoe area of California and Nevada; Whistler Blackcomb in British Columbia, Canada; Perisher, Falls Creek and Hotham in Australia; Stowe, Mount Snow, Okemo in Vermont; Hunter Mountain in New York; Mount Sunapee, Attitash, Wildcat and Crotched in New Hampshire; Stevens Pass in Washington; Seven Springs, Hidden Valley, Laurel Mountain, Liberty, Roundtop, Whitetail, Jack Frost and Big Boulder in Pennsylvania; Alpine Valley, Boston Mills, Brandywine and Mad River in Ohio; Hidden Valley and Snow Creek in Missouri; Wilmot in Wisconsin; Afton Alps in Minnesota; Mt. Brighton in Michigan; and Paoli Peaks in Indiana. Vail Resorts owns and/or manages a collection of casually elegant hotels under the Rock Resorts brand, as well as the Grand Teton Lodge Company in Jackson Hole, Wyo. Vail Resorts Development Company is the real estate planning and development subsidiary of Vail Resorts, Inc. Vail Resorts is a publicly held company traded on the New York Stock Exchange (NYSE:MTN). The Vail Resorts company website is www.vailresorts.com and consumer website is www.snow.com. Forward-Looking Statements Except for any historical information contained herein, the matters discussed in this press release and on the conference call contain certain forward-looking statements within the meaning of the federal securities laws. These statements relate to analyses and other information available as of the date hereof, which are based on forecasts of future results and estimates of amounts not yet determinable. These statements also relate to our contemplated future prospects, developments and business strategies. These forward-looking statements are identified by their use of terms and phrases such as anticipate," "believe," "could," "estimate," "expect," "intend," "may," "plan," "predict," "project," "will" and similar terms and phrases, including references to assumptions. Such statements include statements regarding fiscal 2022 performance (including the assumptions related thereto), including our expected net income, Resort Reported EBITDA and margin; our expectations regarding our liquidity; the effects of the COVID-19 pandemic on, among other things, our operations; expectations related to our season pass sales and products; our expectations related to customer demand and lift ticket sales for the remainder of the 2021/2022 North American ski season; our expectations regarding our ancillary lines of business; expectations regarding the payment of dividends and share repurchases; our planned wage increases; our pursuit of affordable employee housing; our calendar year 2022 and 2023 capital plans and expectations related thereto, including timing and our ability to obtain any required regulatory approvals; and the expected estimated incremental annual EBITDA and capital expenditures related to our recent acquisitions of the Seven Springs Resorts and expected acquisition of Andermatt-Sedrun. Although we believe that our plans, intentions and expectations reflected in or suggested by such forward-looking statements are reasonable, we cannot assure you that such plans, intentions or expectations will be achieved. Important factors that could cause actual results to differ materially from our forward-looking statements include, but are not limited to the ultimate duration of COVID-19 and its short-term and long-term impacts on consumer behaviors, the economy generally, and our business and results of operations, including the ultimate amount of refunds that we would be required to refund to our pass product holders for qualifying circumstances under our Epic Coverage program; the willingness of our guests to travel due to terrorism, the uncertainty of military conflicts or outbreaks of contagious ...Full story available on Benzinga.com.....»»

Category: earningsSource: benzingaJun 9th, 2022

These Bay Area restaurants, chefs were just nominated for the industry"s biggest award

Bay Area bars, bakers, chefs and restaurants made the cut for every possible category they could have on this year's annual James Beard Awards. The New York-based foundation announced the national semifinalists for its 30th annual awards on Wednesday wit.....»»

Category: topSource: bizjournalsFeb 26th, 2020

Oregon nets 17 semifinalists for 2020 James Beard Awards

More than a dozen Portland and Oregon chefs and restaurants are semifinalists for one of the country’s top culinary honors. The James Beard Foundation on Wednesday released its 2020 semifinalists for its annual restaurant and chef awards. The l.....»»

Category: topSource: bizjournalsFeb 26th, 2020

Eight Boston chefs named to James Beard Best Chef semifinals

If you’ve been thinking of checking out some of the hottest restaurants in the Boston area, the time to make reservations is now.  The James Beard Foundation released its list of semifinalists for the 2020 Restaurant and Chef Awards Wednesday. The awa.....»»

Category: topSource: bizjournalsFeb 26th, 2020

Georgia chefs and restaurants named 2019 James Beard Award semifinalists

Several established chefs and restaurants from metro Atlanta and other cities in Georgia were named semifinalists for the 2019 James Beard Awards. The annual awards are the most prestigious honors in the culinary industry, often referred to as the.....»»

Category: topSource: bizjournalsFeb 27th, 2019

Tishman Speyer Welcomes Two More Global Companies to The Spiral, Its Iconic New West Side Office Tower

Tishman Speyer today announced that it has secured agreements with Baker Tilly US, LLP (Baker Tilly) and Skandinaviska Enskilda Banken, AB (SEB) to move their New York City offices to The Spiral, its recently-completed 66-story office tower on the West Side of Midtown Manhattan. In the larger transaction, advisory CPA... The post Tishman Speyer Welcomes Two More Global Companies to The Spiral, Its Iconic New West Side Office Tower appeared first on Real Estate Weekly. Tishman Speyer today announced that it has secured agreements with Baker Tilly US, LLP (Baker Tilly) and Skandinaviska Enskilda Banken, AB (SEB) to move their New York City offices to The Spiral, its recently-completed 66-story office tower on the West Side of Midtown Manhattan. In the larger transaction, advisory CPA firm Baker Tilly signed a long-term lease to occupy approximately 28,000 square feet on a portion of The Spiral’s 22nd floor beginning in mid-2023. Tishman Speyer also finalized an 11-year, 15,000-square-foot lease with SEB, a leading northern European financial services group, which will relocate from 245 Park Avenue to a portion of 28th floor of The Spiral in mid-2023.  With these commitments, Tishman Speyer has now leased approximately 72 percent of the 2.8 million-square-foot office tower. Designed by BIG-Bjarke Ingels Group, The Spiral rises to 1,031 feet and features a cascading series of landscaped terraces and hanging gardens as its signature element.  The terraces ascend one per floor in a spiraling motion to create a unique, continuous green pathway that wraps around the façade of the tower, supplying its occupants with readily accessible fresh air and outdoor space. “With its iconic architecture, collaborative spaces and abundant access to fresh air and natural light, The Spiral embodies the future of the workplace,” said Tishman Speyer Managing Director Amir Sperling.  “We are pleased to welcome Baker Tilly and SEB.  By choosing The Spiral, both companies demonstrate their commitment to human health, wellness and productivity.” The Spiral is anchored by the world’s pre-eminent biopharmaceutical company, Pfizer, which began moving its employees into its new global headquarters in December.  Other prominent companies relocating to The Spiral include premier law firm Debevoise & Plimpton LLP, global asset management firm AllianceBernstein and international construction services company Turner Construction.  The Spiral will also serve as the U.S. headquarters of HSBC, one of the world’s largest banking and financial services organizations. All customers in The Spiral and their guests will have access to ZO. Clubhouse, a premier amenity center and lounge perched on the top floor of the tower.  The Clubhouse will feature an open-air terrace, panoramic views of New York City, food and beverage service and multiple spaces for meetings, conferences and events.  Tishman Speyer is devoting the entire 23rd and 24th floors to its Studio co-working platform, along with its Studio Gather conference center and Studio Private flexible office product.  Tishman Speyer is also in the process of creating high-end prebuilt suites at The Spiral with opportunities ranging from 7,000 square feet to a full floor of 48,000 square feet.  The suites will feature custom layouts and furnishings, sleek reception areas, and large windows for light-filled workspaces.  Occupants will have access to outdoor space and all building amenities. The Spiral will be animated at street level by a 6,000-square-foot restaurant showcasing Peruvian-Japanese cuisine from chefs Erik Ramirez and Juan Correa, the team behind critically acclaimed restaurants Llama San and Llama Inn.  The base will also feature a 75,000-square-foot, state-of-the-art outpatient spine center by NewYork-Presbyterian and an HSBC Wealth Center.  The Spiral is easily accessible from all five boroughs, Westchester County and New Jersey.  It is in close proximity to New York’s most convenient transit hubs, including Penn Station, the Port Authority Bus Terminal, Midtown Ferry Terminal, Lincoln Tunnel and West Side Highway.  The 7 Train is just steps away and three stops from Grand Central Terminal. Tishman Speyer was represented by its in-house leasing team in both transactions.  Baker Tilly was represented by Geoffrey Euston, David Glassman and Joe Cabrera of CBRE.  SEB was represented by Jonathan Schindler and Aron Schreier of Cushman & Wakefield. The post Tishman Speyer Welcomes Two More Global Companies to The Spiral, Its Iconic New West Side Office Tower appeared first on Real Estate Weekly......»»

Category: realestateSource: realestateweekly12 hr. 57 min. ago

Inflation has cooled, but investors risk being caught off guard by a "head fake" that could halt the latest stock-market rally

Decelerating headline inflation has aided a jump in stocks so far this year, but keep watch for "stickiness" in prices for services, analysts say. A server carries drinks to a table at P.J. Whelihan's restaurant and pub in Spring Township, Pennsylvania.Ben Hasty/MediaNews Group/Reading Eagle via Getty Images Stocks are off to a strong start in 2023 after last year's selloff, with cooling inflation a pillar of support.  But there's stickiness in services inflation, and that poses downside risks for equities, analysts said.  Wage growth has eased but an even slower pace would suit the Fed's inflation-fighting goal.  A downward trend in inflation has made for a bullish backdrop for stocks in 2023, but market watchers caution that persistent price strength in a key portion of the world's largest economy may stop the latest rally in its tracks. The final full trading week of January rounded off with another inflation gauge – this time, the Federal Reserve's core Personal Consumption Expenditures Index released Friday - showing deceleration from stronger levels. Earlier this month, the closely watched Consumer Price Index showed prices at 6.5% in December. That's come down from a peak of 9.1% last year. A downside scenario for stocks would be the emergence of a "head fake" in inflation, Jason Draho, head of asset allocation for the Americas at UBS Global Wealth Management, told Insider. "Meaning the data will look like it's moving in the right direction … but then, lo and behold, you get to the springtime, and it turns out that inflation fell to 4% and now it's plateaued," he said.Easing headline inflation figures have helped lay the groundwork for equity gains as 2023 gets underway. The Nasdaq Composite has popped 11%, and the S&P 500 has risen more than 6%. The indexes in 2022 tumbled by 33% and 19%, respectively, with valuations crashing as inflation hit 40-year highs. But there are signs that prices remain somewhat stubborn on the services side of the economy, an area of emphasis among policy makers on the Federal Open Market Committee. Services drive more than two-thirds of activity in the US economy. "To the upside, inflation of sticky prices like violin lessons, veterinarian fees, car repairs, and other services provided by small businesses and sole proprietors was still accelerating in late 2022—and that stickiness could make inflation rebound later this year or in 2024 as growth gets back on track," Bill Adams, chief economist at Comerica Bank,  wrote in Friday note about the PCE report.The Fed has been zeroing in on wage growth, Draho said. Pay for workers is a significant driver of costs for businesses such as retailers and restaurants. Average pay for Americans has slowed in recent months, but the Fed would like to see more, Draho said. Annual average hourly wage growth was 4.6% in December. "The risk is that if the Fed were to ease up [rate hikes], the economy could re-accelerate and inflation goes higher," Draho said. Wages may be sticky with continued tightness in the labor market. Weekly jobless claims last week fell by 6,000, and applications for employment benefits are still near pre-pandemic lows.For now, the equity market looks priced for an economic soft-landing outcome, said Draho. UBS GWM has a 4,000 price target on the S&P 500, implying the broad index will end 2023 slightly lower. The Fed could be comfortable with wage growth sitting below 4% and inflation at its 2% target without seeing a dramatic rise in the unemployment rate, Draho said. "And there's no historical precedent for that happening," he said. Inflation currently is arguably the most important variable in determining the direction of the broad market and underneath that, where investors should put their money, John Porter, chief investment officer of equities at Newton Investment Management, told Insider. "If I knew with complete clarity that by the second half of the year we are going to see a CPI number consistently with a 2% handle, that would give me a lot of optimism around equities [and] the growth part of the market," said Porter. Read the original article on Business Insider.....»»

Category: worldSource: nytJan 28th, 2023

Inflation has cooled, but investors risk being caught off guard by a "head fake" that could kill the latest stock-market rally

Decelerating headline inflation has aided a jump in stocks so far this year, but keep watch for "stickiness" in prices for services, analysts say. A server carries drinks to a table at P.J. Whelihan's restaurant and pub in Spring Township, Pennsylvania.Ben Hasty/MediaNews Group/Reading Eagle via Getty Images Stocks are off to a strong start in 2023 after last year's selloff, with cooling inflation a pillar of support.  But there's stickiness in services inflation, and that poses downside risks for equities, analysts said.  Wage growth has eased but an even slower pace would suit the Fed's inflation-fighting goal.  A downward trend in inflation has made for a bullish backdrop for stocks in 2023, but market watchers caution that persistent price strength in a key portion of the world's largest economy may stop the latest rally in its tracks. The final full trading week of January rounded off with another inflation gauge – this time, the Federal Reserve's core Personal Consumption Expenditures Index released Friday - showing deceleration from stronger levels. Earlier this month, the closely watched Consumer Price Index showed prices at 6.5% in December. That's come down from a peak of 9.1% last year. A downside scenario for stocks would be the emergence of a "head fake" in inflation, Jason Draho, head of asset allocation for the Americas at UBS Global Wealth Management, told Insider. "Meaning the data will look like it's moving in the right direction … but then, lo and behold, you get to the springtime, and it turns out that inflation fell to 4% and now it's plateaued," he said.Easing headline inflation figures have helped lay the groundwork for equity gains as 2023 gets underway. The Nasdaq Composite has popped 11%, and the S&P 500 has risen more than 6%. The indexes in 2022 tumbled by 33% and 19%, respectively, with valuations crashing as inflation hit 40-year highs. But there are signs that prices remain somewhat stubborn on the services side of the economy, an area of emphasis among policy makers on the Federal Open Market Committee. Services drive more than two-thirds of activity in the US economy. "To the upside, inflation of sticky prices like violin lessons, veterinarian fees, car repairs, and other services provided by small businesses and sole proprietors was still accelerating in late 2022—and that stickiness could make inflation rebound later this year or in 2024 as growth gets back on track," Bill Adams, chief economist at Comerica Bank,  wrote in Friday note about the PCE report.The Fed has been zeroing in on wage growth, Draho said. Pay for workers is a significant driver of costs for businesses such as retailers and restaurants. Average pay for Americans has slowed in recent months, but the Fed would like to see more, Draho said. Annual average hourly wage growth was 4.6% in December. "The risk is that if the Fed were to ease up [rate hikes], the economy could re-accelerate and inflation goes higher," Draho said. Wages may be sticky with continued tightness in the labor market. Weekly jobless claims last week fell by 6,000, and applications for employment benefits are still near pre-pandemic lows.For now, the equity market looks priced for an economic soft-landing outcome, said Draho. UBS GWM has a 4,000 price target on the S&P 500, implying the broad index will end 2023 slightly lower. The Fed could be comfortable with wage growth sitting below 4% and inflation at its 2% target without seeing a dramatic rise in the unemployment rate, Draho said. "And there's no historical precedent for that happening," he said. Inflation currently is arguably the most important variable in determining the direction of the broad market and underneath that, where investors should put their money, John Porter, chief investment officer of equities at Newton Investment Management, told Insider. "If I knew with complete clarity that by the second half of the year we are going to see a CPI number consistently with a 2% handle, that would give me a lot of optimism around equities [and] the growth part of the market," said Porter. Read the original article on Business Insider.....»»

Category: personnelSource: nytJan 28th, 2023

One-Year After BID Expansion, Flatiron NoMad Partnership’s Transformational Impact Felt in NoMad, on 20th Street, and on 6th Avenue

One year ago, the business improvement district (BID) formerly known as the Flatiron/23rd  Street Partnership expanded its boundaries to encompass all of NoMad to the north, 20th  Street to the south, and seven more blocks of Sixth Avenue to the west. Since expanding in January 2022, the BID—now called the Flatiron NoMad Partnership—has... The post One-Year After BID Expansion, Flatiron NoMad Partnership’s Transformational Impact Felt in NoMad, on 20th Street, and on 6th Avenue appeared first on Real Estate Weekly. One year ago, the business improvement district (BID) formerly known as the Flatiron/23rd  Street Partnership expanded its boundaries to encompass all of NoMad to the north, 20th  Street to the south, and seven more blocks of Sixth Avenue to the west. Since expanding in January 2022, the BID—now called the Flatiron NoMad Partnership—has transformed these added blocks through its services, including sanitation, beautification, public space management, safety, marketing, and public events.  By creating a cleaner, more cohesive, and more vibrant district, the nonprofit Partnership has bolstered local businesses and accelerated NoMad’s evolution as one of New York City’s top destinations. “Our team continues to deliver on the promise we made to our stakeholders in our expanded footprint, enhancing the experiences of residents, visitors, business owners, and employees on these additional blocks,” said James Mettham, President of the Flatiron NoMad Partnership. “We are driven by a core belief that vibrant neighborhoods and beautiful public spaces are critical for the well-being of people and the economic vitality of our city.” During 2022, in the BID’s expansion areas alone, the Partnership collected 36,142 bags of trash; removed graffiti from walls and gates 7,087 times; and scraped, cleaned, and painted street furniture 25,437 times. Also in the expansion areas, the Partnership installed 66 new hanging flower baskets, 75 new lamppost banners, and 76 expanded tree pits with seasonal plants, flowers, and Partnership-branded tree-pit guards. Additionally, the organization extended its horticulture work on the Park Avenue South malls to cover five more blocks, now stretching from 19th Street to 32nd Street, with 19 new hornbeam trees and other plants. A map of the BID expansion is available here. “My small business has been here for 16 years, and there used to be more garbage pile up on 6th Avenue and 27th Street than any other corner around,” said Sheldon Henley, owner of The Buzz Wine & Liquors at 795 6th Avenue in the BID’s expansion area. “I used to come in early every morning to clean the corner, but I haven’t had to do that since the Flatiron NoMad Partnership started servicing our block. They clean up the trash, remove all the graffiti, and even sweep away the rain puddles. When the sidewalks are clean, it benefits the safety of the neighborhood and makes everyone’s life better.” “In just one year, the Flatiron NoMad Partnership has transformed our neighborhood with colorful plantings, sharp-looking trash cans, frequent garbage collection, and graffiti removal,” said Serge Harnett, a 24-year resident of a cooperative on 29th Street, a member of the 29th Street Neighborhood Association, and the president of the 13th Precinct Community Council.  “The unique graphic design of the Flatiron NoMad planters and streetlamp banners reinforces our neighborhood’s evolution. Each element of the Partnership’s work contributes to the cumulative impact on the quality of life we experience every day.” The beautified streetscapes have supported NoMad’s decade-long rise to become one of New York City’s top destinations, after many years as a nameless—and often overlooked—neighborhood. Condé Nast Traveler recently named NoMad one of “The 23 Best Places to Go in the U.S. in 2023.” With four major hotels that opened in NoMad in 2022 (Ritz-Carlton New York, The Ned NoMad, and Le Méridien), and three more opening in the first half of 2023 (The Virgin Hotel, Hotel AKA NoMad, and The Fifth Avenue Hotel), the greater Flatiron NoMad district will have a total of 32 hotels. “The Flatiron NoMad Partnership has helped to give the neighborhood a cohesive identity while elevating it into a world-class destination for visitors and locals alike,” said Sean Johnston, General Manager of Moxy Chelsea at 105 W 28th Street, in the BID’s expansion area. “Our neighborhood is one of Moxy Chelsea’s greatest assets, because our guests love being in the heart of Manhattan, with so many great dining options and cultural activities a short walk away. The enhanced streetscapes have made it even better.” The streetscape improvements and influx of visitors contributed to pedestrian foot traffic increasing by 26% year-over-year in the district in 2022. These factors have attracted new businesses, especially in the BID’s expansion areas which saw 66 new ground-floor businesses open in 2022, with an additional 17 planning to open in early 2023. Twenty-seven of these newly opened businesses—and nine of the soon-to-open businesses—are in the food and beverage category, strengthening the greater Flatiron NoMad district’s reputation as one of New York City’s top dining destinations. Harnett added, “My neighbors ask, ‘Has something happened? The area feels cleaner and looks better.’ My response is that the Flatiron NoMad BID expansion is here now, and more is to come!’ The expansion extends to our area all the improvements the Partnership had already made to the Madison Square Park area. We look forward to more dynamic growth from diverse new businesses attracted to the area by the Partnership’s improvements.” In 2023, the Partnership will continue collaborating with the New York City Department of Transportation (DOT) to improve the pedestrian experience and safety on Broadway throughout the district, including the NoMad blocks that became part of the BID in last year’s expansion. As part of that work, in 2022 the Partnership and DOT installed the NoMad Piazza  pedestrian plaza on the Broadway roadbed from 25th to 27th Streets, improving pedestrian safety, enhancing the outdoor dining at adjacent restaurants, and drawing new businesses to these two blocks. The Partnership has also hosted public cultural programming on the NoMad Piazza, including music performances and salsa dancing classes. In May 2022 the Partnership changed its name from the Flatiron/23rd Street Partnership to the Flatiron NoMad Partnership, to better reflect its new boundaries and support its efforts to market the district as a destination for visitors from near and far.  The rebrand included the creation of a new website, flatironnomad.nyc. The post One-Year After BID Expansion, Flatiron NoMad Partnership’s Transformational Impact Felt in NoMad, on 20th Street, and on 6th Avenue appeared first on Real Estate Weekly......»»

Category: realestateSource: realestateweeklyJan 27th, 2023

Nashville chefs named 2023 James Beard Awards semifinalists

The 2023 James Beard Awards semifinalists list includes multiple Nashville names, more than 2022. Here's who made the list......»»

Category: topSource: bizjournalsJan 25th, 2023

Eight Atlanta restaurant names tabbed as James Beard award semifinalists

The James Beard Foundation announced its long list of semifinalists for its 2023 awards......»»

Category: topSource: bizjournalsJan 25th, 2023

61 unique Valentine"s Day gifts that go beyond the usual flowers and chocolates

This Valentine's Day, whether you want to show your love for your partner, friends, or children, you can find a thoughtful and unique gift idea here. When you buy through our links, Insider may earn an affiliate commission. Learn more.East Olivia; Uncommon GoodsValentine's Day typically revolves around romantic interests — spouses, new partners, and long-term girlfriends or boyfriends.But there's no reason why the holiday has to be limited to only couples. You can celebrate everyone from your best friends, children, or newlywed family members, and there are plenty of gifts that fit every personality type and budget.To help you find the right gift for that special someone (whoever they may be), we've collected an assortment of ideas across a variety of price points that let your Valentine's Day recipient know you care. Be it a stunning floral bouquet for your significant other, a hilarious trinket for your bestie, or a memorable activity you can experience as long-distance partners, the best Valentine's Day gift is something you've put time and thought into.An interactive, personalized plaque of your favorite songAmazonwitfox Personalized Acrylic Song with Photo PlaqueIf you're always humming your favorite song together, immortalize it with this light-up plaque. All you need is a photo together, the song name, artist, and any other message you want to add. Whenever you want to listen to the song, you can scan the unique code on the plaque and it'll show up on your Spotify.A nontraditional flower bouquetEast Olivia East Olivia Samantha Medium Dried BouquetAfter years of sending regular flowers, maybe it's time you tried something different. This romantic dried floral arrangement lasts for months and comes ready to gift in a ceramic vase.A Lovebox perfect for the far-away loved oneUncommon GoodsLovebox Color & Photo Love Note MessengerIf you're in a long-distance relationship or just live far from your family, this cute little box is a nice, texting-free way to stay in touch. Using an app on your phone, you can send photos, drawings, animations, and messages, which your loved ones know to open when the Lovebox's heart starts to turn.An affordable luxury watchBredaBreda Esther Square Metal WatchBreda makes beautiful and unique luxury watches — most of which cost under $200. We loved the variety of options and how they felt more expensive than they looked.Mimosa cubes for a Galentine's celebrationUncommon GoodsMinute Mimosa Sugar Cube TrioPerfect for a Galentine's Day gathering, these cubes turn any glass of bubbly into a fun, fizzy cocktail. You can choose from a Citrus Trio (orange, grapefruit, and lemon) or Peaches & Berries Trio (strawberry, raspberry, and peach).A heart-shaped Le CreusetWilliams SonomaLe Creuset Enameled Cast Iron Shallow HeartLe Creuset pans are already fantastic pieces of cookware to invest in, but the brand's heart-shaped offerings make the gift even more special. You can get a bigger cast iron pot or skillet, but all will be equally great for serving that Valentine's Day dinner.A customized wellness journalPapierPapier Joy Wellness JournalIf they're fans of physical planners or keeping daily diaries, this hardcover journal is about to become their new favorite. You can pick from a range of vibrant bindings and customize the cover with a title, their name, and anything else you want.An off-center heart necklaceBaublebarBaublebar 18K Gold Asymmetrical Heart NecklaceHeart necklaces are pretty classic V-Day gifts, but this dainty, asymmetrical version offers a stylish, minimalist twist (while still offering a lot of oomph with the Cubic Zirconia stones embedded in the pendant).A gift set of quality olive oil and vinegarBrightlandBrightland The Essential CapsuleWe love Brightland's high quality olive oil and vinegar — they're perfect gifts for any chef. Plus, beyond looking beautiful on a kitchen counter, Brightland's opaque bottles help protect the product from sun damage.Flattering, super-soft leggingsAmerican EagleOFFLINE By Aerie Real Me High Waisted Crossover LeggingThis TikTok-famous leggings are buttery soft, super flattering, and offer a unique criss-cross design at the waistline. Whoever receives them will thank you (and probably buy four more pairs).A DIY plaster kit for a custom sculptureAmazonLuna Bean Keepsake Hands Casting KitPut your hands together for this one-of-a-kind sculpture. This kit comes with everything you need to immortalize your hand-holding (and have fun doing it!)A sleek tote they can customizeCuyanaCuyana System ToteBeyond its sleek, work-appropriate look, Cuyana's Italian leather System Tote comes with optional accessories like a crossbody strap or matching laptop sleeve.A birth chart bookBirthdate co.Birthdate Co. The Birthdate BookWhether the recipient is hardcore into astrology or has a passing interest in knowing their moon sign, this beautiful book is bound to be a hit. All you have to do is know their time and location of birth to get a 70-page guide to their chart and what it says about their personality and future. As a bonus, you can add a special message to the front page.A high-quality, sustainable flannel shirtOuterknownOuterknown Blanket ShirtOuterknown's famed Blanket Shirt is made from 100% organic cotton, making it incredibly soft (and sustainable — even its buttons are made from eco-friendly palm nuts). You can pick from pretty much every plaid pattern imaginable or opt for a neutral solid color.A gorgeous puzzle to do togetherPiecework PuzzlesPiecework Puzzles Some Like It Hot PuzzlePiecework's visually stunning creations aren't your grandma's Christmas puzzle. Featuring vibrant, busy photos, they offer a unique challenge and also look great as wall art when you're done.A cute vase for their Valentine's flowersAnthropologieAnthropologie Hugs and Kisses VaseTo give their V-Day floral bouquet even more zing, pair it with this vase covered in Xs and Os. It's an extra cute touch for the holiday — and for the rest of the year, too.A comfy, functional apronMagic LinenMagic Linen Pinafore Cross-Back Linen ApronFor any passionate chef, this cross-back linen apron (endorsed by Bon Appetit staff) helps them keep their clothes clean, but also has the added plus of A.) not requiring any string-tying and B.) having a front pocket for extra storage.A National Park pass for future adventuresREIREI America the Beautiful Pass 2023/2024For fans of experiential gifts, this annual pass grants access to nearly all the US National Parks. It can accommodate a car of up to four people and makes park-hopping a breeze. It's the perfect nudge to finally plan that Utah road trip!A tiny but thoughtful charmCatbirdCatbird The Smallest Love Letter CharmTurn the classic love letter into something they can carry with them anywhere. You can personalize up to three lines of engraving on this 14-karat solid gold accessory. Just keep in mind that it takes an extra 5-7 days for engraving when placing your order.An instant camera that uses BluetoothCrystal Cox/InsiderPolaroid OneStep+ White (9015) Bluetooth Connected Instant Film CameraIf they love the idea of physical, instant photos, this camera lets them take snaps with two different lenses (standard and portrait). But if they have a pic on their phone they're dying to hang up, it also connects via Bluetooth and prints directly from the camera.A heart-shaped serving spoonUncommon GoodsUncommon Goods Hand-Carved Heart Serving SpoonThis simple yet practical gift works for pretty much anyone you love — a partner, a best friend, a parent or sibling. It's also hand-carved by an artist collective in rural Kenya, so each spoon is different and unique.A custom phone case of a beloved petWest & WillowWest & Willow Custom Pet Portrait Phone CaseIf they love the dog more than anyone, commemorate that love with this phone case. It features a realistic portrait of their pup or cat (based on a photo you upload) over a clear case, but you can also opt for a classic print, too. Personalized Valentine's Day cookiesWilliams SonomaWilliams Sonoma Giant Personalized Valentine's Day Cookies (Set of 3)Whether you're getting them for a partner or a couple you love, you can customize two cookies with up to nine characters, making it a sweet way to commemorate a relationship.A versatile turntableUrban OutfittersUrban Outfitters Crosley UO Exclusive Checkered Ryder TurntableFeaturing an exclusive checkerboard design, this vinyl record player is a great, lower-budget model that looks cute, too. Plus, if they want to switch to their Spotify, they can just hook up their playlists to the speaker va Bluetooth.Dreamy wine glassesAnthropologieAnthropologie Morgan Wine Glasses (Set of 4)If you always look forward to your wine toasts, up the experience with these pretty, trendy wine glasses. They come in a few colors and are great whether you're hosting a dinner party together or it's just you two winding down.UGG knockoffs for about half the priceQuinceQuince Australian Shearling Mini BootsUGG boots have been making a comeback for a while now, and if a pair feels too costly, fear not! These booties from Quince are made from the same materials and offer practically the same look for a lower price.A custom catchall for rings and keysMark & GrahamMark & Graham Scalloped Ceramic CatchallAn especially great gift for any newlyweds, this catchall can be monogrammed with your or the couple's initials. You can pick from four different colors and a wide range of tasteful fonts.A heart-shaped mini waffle makerTargetDash Heart Mini Waffle MakerYou can use this mini waffle maker to make them a Valentine's Day breakfast they won't forget (and many more like it).A Lego bouquet you can build togetherAmazonLEGO Icons Flower Bouquet 10280 Building Set for Adults (756 Pieces)If they're a big fan of LEGOs or hands-on activities, why not opt for this creative take on a classic Valentine's Day gift? This surprisingly realistic-looking floral bouquet is a fun project to put together (and requires zero care afterward).Custom NikesNike Custom Nike Air Force 1sIf you know their favorite colors, you can surprise them with their own Nikes. You can go all out with lots of colors or just do a few accents on a white shoe — the options seem limitless. If Nikes aren't their thing, Vans and Converse offer similar services, too.A movie scratch-off posterUncommon GoodsUncommon Goods 100 Movies Scratch Off PosterMade for cinephile couples (or just ones who can never decide what to watch), this scratch-off poster features 100 classic movies that span all genres, like "Dr. Strangelove," "Spirited Away," "Boyz N The Hood," "This Is Spinal Tap," "Pulp Fiction," and the list goes on. Plus, every square reveals a cute, minimalist image for its movie, making this double as nice decor.A bathtub caddy for all their essentialsAmazonRoyal Craft Wood Luxury Bathtub Caddy TrayIf they live for a good bath, make that easier with this bath caddy, which extends to fit the tub and can store everything from books and tablets to snacks and wine.A cake to satisfy all their sweet teethGoldbellyWe Take the Cake "All of the Above" Brownie Cheesecake Layer CakeValentine's Day is strongly affiliated with decadent desserts, but if you can't decide on one, this combination brownie-cheesecake-layer cake should do the trick. And if they're more of a savory person? You can get everything from Maine lobster rolls to Nashville BBQ from Goldbelly, one of our favorite services for gourmet eats.A custom cartoon portraitUncommon GoodsUncommon Goods Love is in the Air Custom PortraitFor the partner who makes your heart float, get them this whimsical custom portrait of you two. All you need to do is choose the physical traits that best describe you (from skin tone to body type) and the artist will take it from there.A book of questions for future date nightsAmazon"Eight Dates: Essential Conversations for a Lifetime of Love" by John and Julie Schwartz Gottman, PhDDr. John and Julie Gottman aren't just two psychological researchers with over 40 years of experience studying relationships: They're also a very happily married couple themselves. This book features guidance on how to stay connected, with eight different sets of questions to ask each other, broken down by themes like money or sex.Adorable, quality socksBombasBombas Women's Valentine's Day Ankle Sock 4-Pack Gift BoxBeyond being holiday appropriate, these socks are reinforced with grippy bottoms and cushioned footbeds, making them our favorites.Minimalist gold hoopsMejuriMejuri Small HoopsValentine's Day is often affiliated with big, flashy jewelry — but what if your recipient is a minimalist at heart? These affordable 14k gold hoops are perfect for everyday wear while still feeling like a special gift.A box of unique trufflesWilliams SonomaVosges Exotic Truffle CollectionWith all the choices out there, it seems ironic that it's all too easy to fall into a rut when it comes to chocolate. This is Valentine's Day, for goodness' sake, and there's no sense in sharing middling sweets with our special someone. This box is full of chocolate truffles infused with adventurous flavor pairings from spices to liqueurs. A Jenga game that brings you closerUncommon GoodsUncommon Goods Falling for You Personalized Couple's GameFor Jenga lovers, each wooden block has a different engraved challenge for couples, from conversation starters to physical actions. You can also add up to five custom blocks with your own questions or prompts.Adorable heart-shaped platesWilliams SonomaWilliams Sonoma Heart Dinnerware CollectionYou can mix-and-match the heart-shaped dinnerware you want, from plates to bowls and mugs. All are guaranteed to add a little cuteness to every meal.An affordable cashmere sweaterNaadamNaadam The Essential Cashmere SweaterFinding a cashmere sweater under $100 is a rarity, which is only one of many reasons why this sweater from Naadam is so widely loved. This sweater is sustainably made and soft to the touch, making it an excellent Valentine's Day gift. Learn more about Naadam here. A box of roses that lasts all yearAmazonSoho Floral Arts Rose BoxThese beautifully arranged roses are meant to last for a year — a more affordable version of the ever-popular Venus ET Fleur. Flowers are a classic Valentine's Day gift, but these roses will last long past February 14, reminding you of their love all throughout the year. A 'perfect pair' of gourmet cheeses and accompanimentsMurray's CheeseMurray's Cheese Perfect Pair of the Month ClubSpecialty cheesemaker Murray's combines two kinds of cheese with two meats or snacks every month in this delicious monthly subscription. While it offers guidance on the best flavor pairings, your recipient is also free to experiment with their own combinations.A handy ebook readerAmazonAmazon Kindle PaperwhiteWhether their resolution is to read more or they're already a bookworm, they'll love the opportunity to carry around an endless library of books with them wherever they go. The Paperwhite has won over many readers on Insider Reviews, even those who previously swore by physical paperbacks. Here's our full review.Cards to kick off deep conversationsAmazonTableTopics Dinner Party EditionNo matter who you're gifting to this Valentine's Day, everyone can use a new conversation starter or two. From questions specifically for couples to dinner party topics, TableTopics have you covered for nearly any kind of social event. A romantic candle to brighten up any roomSephoraHomesick Love Letters CandleIf you want to set a romantic mood on Valentine's Day, try this Love Letters candle. Lemon, sandalwood, and rose petals fill the air with fruity and floral aromas.A box full of sweet treatsMilk BarMilk Bar The SamplerMilk Bar is arguably the holy grail of sweet treats, so it's a natural fit for a Valentine's Day gift. This sampler is home to some of Milk Bar's most popular treats: Birthday Truffles, cookies, and Milk Bar Pie.Learn more about Milk Bar here. Cozy slippers to pad around the house inL.L. BeanL.L. Bean Wicked Good MoccasinsThey're one of L.L.Bean's most popular shoes for good reason. The shearling uppers and linings keep their feet warm without making them sweaty, and the memory foam insoles are always comfortable and supportive.Beautiful bowls to hold trinkets or snacksFood52Food52 Fisheye Ceramics Gold-Dipped Pinch BowlsHowever your recipient decides to use these small dishes, there's no disputing their style.A subscription to watch live sports and their favorite showsESPN/Alyssa Powell/Business InsiderESPN+Monthly SubscriptionIf it's live sports, an ESPN+ subscription is well worth the $10. If they also love comedies, dramas, and Disney shows, there's a bundle that conveniently packages Hulu, Disney+, and ESPN+ for an affordable price.A sampler of red and rosé wineVineboxVinebox Ultimate Valentine Chocolate Pairing CollectionVinebox's unique way of packaging and delivering its wines will make this your recipient's most memorable Valentine's Day yet. The three-glass assortment of reds and whites puts a twist on the classic wine gift. A fun and educational cooking classCozymealCozymeal Gift CardFriends, family members, and lovers alike will enjoy Cozymeal's cooking classes, which are taught by professional chefs and cover everything from vegan Indian cuisine to pasta making.A cozy bathrobeBrooklinenBrooklinen Super-Plush RobeThe robe is basically an oversized and wearable towel that they'll never want to take off. Extra-thick and made from soft and durable long-staple Turkish cotton, it'll make their bathroom feel like a private spa. A colorful water bottle that doubles as a foam rollerNordstromMobot Firecracker 18-Ounce Foam Roller Water BottleThe fitness enthusiast in your life can take both hydration and a muscle recovery tool on the go. Depending on the temperature of its contents, it turns into a chilled or hot roller. A geeky and creative cardAmazonLovePop "Star Wars" BB-8 Mine Pop-Up CardThe best thing about LovePop's cards is that they can also be displayed as decor and art. You can find more Valentine's Day options here, whether your recipient loves "The Nightmare Before Christmas," "Up," "The Office," or just great puns.A gourmet coffee bean subscriptionAtlas Coffee ClubAtlas Coffee Club 3-Month SubscriptionMore than one area of the globe boasts amazing coffee, and around-the-world subscription Atlas Coffee Club is out to prove that by sending coffee from a different region every month. Each order includes tailored brewing recommendations and a postcard with information about the country's coffee-growing methods, so they'll fully appreciate the flavor and history of each cup. A heart-shaped cat scratcherChewyFurhaven Heart-Shaped Cat ScratcherIf your recipient is a cat lover or your actual cat (we won't judge), they'll delight in this cat scratcher, complete with jingly bells, a scratching surface, and catnip. A pair of pretty makeup towelsWeezieWeezie Makeup TowelsThese towels help your recipient wipe off the day's makeup and grime without leaving stains. Plus, the fun embroidered patterns differentiate them from ordinary hand towels.A personalized photo calendar for their deskArtifact UprisingArtifact Uprising Walnut Desktop Photo CalendarFor those who want to add thoughtful decor to their office desk, this calendar is simple and customizable. You can handpick all of the photos that get put into the calendar, making this gift to a loved one even more special.A smart speakerAmazonEcho Dot (5th generation)This latest iteration of the Echo Dot is great for the tech guru in your life, as it can control the home, stream music, and connect with others. The Alexa-powered speaker will easily level up any office, especially with its sleek spherical shape.A soft blanket to keep warmWest ElmWest Elm Faux Fur Ombre ThrowsWhat better way to cozy up than with a faux fur throw? Beyond its warmth, this luxe blanket also really ties a room together.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderJan 24th, 2023

Best New Restaurants in America

The restaurant industry has certainly been through the ringer in the past few years, with dozens of renowned establishments and promising new eateries alike shutting their doors for good. (Here are the saddest restaurant closings of 2022.) However, the perpetual evolution of the food world makes way for innovative and daring new restaurants to fill […] The restaurant industry has certainly been through the ringer in the past few years, with dozens of renowned establishments and promising new eateries alike shutting their doors for good. (Here are the saddest restaurant closings of 2022.) However, the perpetual evolution of the food world makes way for innovative and daring new restaurants to fill in the gaps. To assemble a list of the best new restaurants in America – those that opened in 2022 – 24/7 Tempo reviewed and extrapolated from lists published in the New York Times, Eater, Bon Appétit, Esquire, Robb Report, and Tasting Table, as well as numerous local and regional sites, using editorial discretion to arrive at our final choices. Some of the best new eateries are helmed by the undaunted teams and chefs behind pandemic casualties. Others are the debut establishments of hot new chefs trained at distinguished restaurants like New York’s Atera and Spain’s Mugaritz.  From a groundbreaking Korean/Basque mashup to a Peruvian exploration of altitude and bioregion to a classic French bistro, the restaurants on the list overwhelmingly convey strong cultural convictions. Numerous Japanese-style izakayas (bars with a wide range of small plates and snacks that go well with alcohol) made the list, as did Italian restaurants, Mexican places that nixtamalize heirloom corn for fresh tortillas, and Caribbean restaurants that highlight the flavors of the African diaspora. Click here to see the best new restaurants in America Popular dining destinations like New York City, Los Angeles, and New Orleans feature prominently, along with a few gems from vacation and wine areas like Bainbridge Island, Sonoma, and the Willamette Valley. A trend toward seafood is noticeable, while plant-forward fare is also a highlight at some venues. (Here are the 35 best vegan restaurants in America.) Sponsored: Find a Qualified Financial Advisor Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now......»»

Category: blogSource: 247wallstJan 24th, 2023