October 27, 2021
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Franchise News
Hilton Worldwide Holdings' third-quarter revenue outpaced estimates, with CEO Christopher Nassetta noting that "leisure travel remained strong and business travel continued to pick up." Still, restrictions in Asia and US labor shortages continue to create challenges for the hospitality industry.
Full Story: Reuters (10/27) 
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Smokey Mo's TX BBQ has hired two executives to support efforts in franchise development, rebranding, menu refinement and guest experience improvement. The 16-unit company named Craig Haley as president and Gini Quiroz as vice president of HR.
Full Story: Nation's Restaurant News (free registration) (10/26) 
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Best Practices and Business Leadership
Fuzzy's Taco Shop CEO Paul Damico's role will expand to include Experiential Brands, NRD Capital Management's new platform company. Experiential Brands will focus on acquisitions, and Damico said the targets would likely be similar to Fuzzy's.
Full Story: Nation's Restaurant News (free registration) (10/26) 
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Bernard Acoca, former CEO of El Pollo Loco, will begin as Zaxby's CEO in January. Co-founder and CEO Zach McLeroy will become Zaxby's chairman.
Full Story: Nation's Restaurant News (free registration) (10/26) 
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Trend Watch
Burger King parent to swap paper for digital promotions
(Dave Rowland/Getty Images)
Restaurant Brands International, parent of Burger King, Tim Hortons and Popeyes Louisiana Kitchen, will reduce its use of paper coupons and expand digital offers, CEO Jose Cil said. Burger King introduced its digital Royal Perks rewards program at all US units in September, and Cil said such digital platforms allow for a greater ability to personalize offers.
Full Story: Nation's Restaurant News (free registration) (10/25) 
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As baby boomers leave the workforce and the working-age population decreases, there is evidence that wages are rising for certain segments of the population, writes Justin Fox.
Full Story: BNN Bloomberg (Canada) (10/26) 
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News from IFA
Bill Meierling has joined IFA's leadership team as vice president of strategic communications and marketing. "We are thrilled to have Bill join IFA and help tell the story of the franchising community to internal and external stakeholders," IFA President and CEO Matt Haller said.
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Now is the time for Black entrepreneurs to get involved in franchising. In part four of our yearlong webinar series, Growth in Franchising, we delve into matching your passion with the right franchise brand and bringing all the pieces together. Register and join us from 2 to 3:30 p.m. ET Thursday.
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IFA Member Spotlight
FullSpeed Automotive has acquired 14 service facilities since the beginning of the third quarter. The acquisitions cover eight states: Arizona, Colorado, Connecticut, Louisiana, Minnesota, Missouri, New Hampshire and Texas.
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Policy and Finance Update
Almost 40 trade associations have introduced an advertising campaign that urges Sen. Kyrsten Sinema, D-Ariz., to continue to oppose tax increases in the Biden administration's spending package. The business groups formed America's Job Creators for a Strong Recovery to oppose "record tax-and-spend proposals."
Full Story: The Hill (10/26) 
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The Conference Board's consumer confidence index has taken a surprise upturn in October, rising 4 points to reach 113.8 and ending three consecutive months of decline. Consumers reportedly are showing increased appetite for home purchases and expenditures on big-ticket items and vacations, suggesting economic growth is continuing, despite factors such as inflation concerns.
Full Story: Reuters (10/26) 
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We struggle to climb, or we struggle to fall. The thing is to discover which way we're going.
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