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Oakville, Ontario and Miami, Florida; August 26, 2014 – An agreement was reached today to create the world’s third largest quick service restaurant company. Tim Hortons Inc. (TSX, NYSE: THI) and Burger King Worldwide Inc. (NYSE: BKW) today announced a definitive agreement under which the two companies will create a new global powerhouse in the quick service restaurant sector. With approximately $23 billion in system sales, over 18,000 restaurants in 100 countries and two strong, thriving, independent brands, the new company will have an extensive international footprint and significant growth potential. The new global company will be based in Canada, the largest market of the combined company.

Tim Hortons and Burger King each have strong franchisee networks and iconic brands that are loved by their guests. Following the closing of the transaction, each brand will be managed independently, while benefitting from global scale and reach and sharing of best practices that will come with common ownership by the new company.

Under the terms of the transaction, which has been unanimously approved by the Board of Directors of both companies, Tim Hortons shareholders will receive C$65.50 in cash and 0.8025 common shares of the new company per Tim Hortons share. Based on Burger King’s unaffected closing stock price as of August 22, 2014, this represents total value per Tim Hortons share of C$89.32 and based on Burger King’s closing stock price as of August 25, 2014, this represents total value per Tim Hortons share of C$94.05. As an alternative to the default mixed transaction consideration described above, each Tim Hortons shareholder will have the ability to elect to instead receive, for each Tim Hortons share held, either (i) C$88.50 in cash; or (ii) 3.0879 common shares of the new company, in each case subject to pro ration.

The C$89.32 unaffected offer value represents a premium of 39% based on the volume weighted average price of Tim Hortons stock over the past 30 days ending Friday August 22, 2014, and a 30% premium based on Tim Hortons closing stock price on August 22, 2014. By receiving shares in the new parent company, Tim Hortons shareholders will have the opportunity to participate in the new company’s long-term value creation potential.

Alex Behring, Executive Chairman of Burger King and Managing Partner of 3G Capital, said, “By bringing together our two iconic companies under common ownership, we are creating a global QSR powerhouse. Our combined size, international footprint and industry-leading growth trajectory will deliver superb value and opportunity for both Burger King and Tim Hortons shareholders, our dedicated employees, strong franchisees, and partners. We have great respect for the Tim Hortons team and look forward to working together to realize the full potential of these two extraordinary businesses.”

Marc Caira, President and CEO of Tim Hortons, said, “We are very proud of the great history of our organization and the progress we have achieved in creating value and delivering the ultimate experience for our guests. As an independent brand within the new company, this transaction will enable us to move more quickly and efficiently to bring Tim Hortons iconic Canadian brand to a new global customer base. At the same time, our customers, employees, franchisees and fellow Canadians can all rest assured that Tim Hortons will still be Tim Hortons following this transaction, including our core values, employee and franchisee relationships, community support and fresh coffee.”

“Over the past four years, we have transformed Burger King into one of the fastest-growing and most profitable QSR businesses in the world, through successful international growth, a consistent focus on brand revitalization and strong commitment to our franchisees,” said Daniel Schwartz, CEO of Burger King. “We are excited to build on this progress as we continue to expand Burger King around the world and look forward to working with and learning from Tim Hortons as we together create the world’s leading global restaurant business.”

Management and Governance

At the time of closing, Alex Behring, Executive Chairman of Burger King and Managing Partner at 3G Capital, will lead the new global company as Executive Chairman and Director. Marc Caira, President and CEO of Tim Hortons, will be appointed Vice-Chairman and a Director, focused on overall group strategy and global business development. Daniel Schwartz, CEO of Burger King, will become Group CEO of the new company, with overall day-to-day management and operational accountability. The new company’s board will include the current eight Burger King directors and three directors to be appointed by Tim Hortons, including Mr. Caira.

Mr. Caira and Mr. Schwartz will continue as Tim Hortons and Burger King CEOs, respectively, through the transition period, and additional executives in the new global company structure will be identified from Burger King and Tim Hortons during the transition period and announced at the time of closing. Both Burger King and Tim Hortons will continue to operate after the closing as standalone, independent brands which leverage global shared services and best practices.

The current Tim Hortons headquarters in Oakville, Ontario will continue to be the global home of the Tim Hortons business. Burger King’s current headquarters in Miami, Florida will continue to be the global home of the Burger King business. It is expected that the shares of the new parent company will be listed on the New York Stock Exchange and the Toronto Stock Exchange.

COMMITMENT TO CANADA
As part of its commitment to Canada, the new company will endorse the following principles:

Tim Hortons will continue to manage its own operations, headquartered in Oakville, and continue its significant community involvement, including the Tim Horton Children‘s Foundation, TimBits Minor Sports Program, Tim Hortons Coffee Partnership and its community, sustainability and charitable programs.
This transaction will not change the way Tim Hortons works with its franchisees or its business model. There are no plans to change the rents, royalty structures, customer-facing programs, Franchise Advisory Board or the franchisee-facing operational resources Tim Hortons provides to support its franchisees in building their businesses.
Likewise, there will be no changes to restaurant-level employment and the new company will rely heavily on the Tim Hortons talent pool to staff the new organization at all levels of responsibility. As a result, the global company‘s management and shared services operations will consist of a meaningful number of Canada-based executives.
Similarly, Burger King will continue to support and preserve its long-standing commitment to local communities and charitable causes in the United States, including the Burger King Scholars Program.

Long-term Ownership and Investing in Brands

3G Capital and its principals have a proven track record of investing in and growing iconic brands. Over the years, it has partnered with other long-term investors in previous transactions to build shareholder value and drive innovation and growth in its companies.

3G Capital will retain all of its investment in Burger King by converting its roughly 70% equity stake in Burger King into equity of the new company. On a pro forma basis, 3G Capital is expected to own approximately 51% of the new company with the balance of the common shares to be held by current public shareholders of Burger King and Tim Hortons.

Financial Highlights
The combination generates substantial value for shareholders of both companies and provides the opportunity for shareholders to participate in the new company’s long-term value creation potential. In addition to meaningful revenue synergies created from accelerated international growth, the transaction is expected to achieve cost savings through leveraging the new company’s global scale and the sharing and implementation of best practices.

Structure and Terms
Upon completion of the transaction, each outstanding common share of Tim Hortons will be converted into the right to receive C$65.50 in cash and 0.8025 of a common share of the new parent company, which is subject to the right of the holders of Tim Hortons common stock to make elections as noted above. Upon completion of the transaction, each outstanding common share of Burger King will be converted into 0.99 of a share of the parent company and 0.01 of a unit of a newly formed Ontario limited partnership controlled by the new parent company, however, holders of shares of Burger King common stock will be given the right to elect to receive only partnership units in lieu of common shares of the new parent company, subject to a limit on the maximum number of partnership units that can be issued.

Shares of the new parent company will be traded on the New York Stock Exchange and the Toronto Stock Exchange and units of the new partnership will be traded on the Toronto Stock Exchange. The partnership units will be convertible on a 1:1 basis into common shares of the new parent company, however, the units may not be exchanged for common shares for the first year following the closing of the transaction. Holders of partnership units will participate in the votes of shareholders of the new parent company on a pro-rata basis as though the units had been converted. 3G Capital has committed to elect to receive only partnership units.

The transaction is expected to be taxable, for U.S. federal income tax purposes, to the shareholders of Burger King, other than with respect to the partnership units received by them in the transaction. The transaction is expected to be taxable to shareholders of Tim Hortons in the U.S and Canada.

Burger King has obtained commitments for $12.5 billion of financing to fund the cash portion of the transaction, including commitments for a $9.5 billion debt financing package led by JP Morgan and Wells Fargo. The obligation of JP Morgan and Wells Fargo to provide this committed debt financing is subject to a number of customary conditions, including execution and delivery of certain definitive documentation. It is expected that the debt financing for the transaction will consist of a $6.75 billion senior secured term loan B facility, a $500 million senior secured revolving credit facility and senior secured second-lien notes in the amount of $2.25 billion.

Berkshire Hathaway has committed $3 billion of preferred equity financing. Berkshire is simply a financing source and will not have any participation in the management and operation of the business.

The transaction is subject to customary closing conditions, including approval of Tim Hortons shareholders and receipt of certain antitrust and regulatory approvals in Canada and the U.S. Since 3G Capital already owns approximately 70% of the shares of Burger King and has committed to vote in favor of the combination, no shareholder vote is required of Burger King shareholders.

Further information regarding the transaction will be included in a joint information circular/statement to be mailed to the shareholders of both Tim Hortons and Burger King. The Arrangement Agreement and Plan of Merger provides that Tim Hortons is subject to customary non-solicitation provisions.

Both companies’ boards of directors have unanimously determined that the proposed combination is in the best interests of their respective companies. Each of RBC Capital Markets and Citi has delivered a fairness opinion to the board of directors of Tim Hortons, and Lazard has delivered a fairness opinion to the board of directors of Burger King.

Advisors
Lazard, J.P. Morgan and Wells Fargo served as financial advisors to Burger King. Kirkland & Ellis LLP, Davies Ward Phillips & Vineberg LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to Burger King.

Citi and RBC Capital Markets are serving as financial advisors to Tim Hortons. Wachtell, Lipton, Rosen & Katz and Osler, Hoskin & Harcourt LLP are serving as legal counsel to Tim Hortons.

Tim Hortons Inc. Overview
Tim Hortons is one of the largest publicly-traded restaurant chains in North America based on market capitalization, and the largest in Canada. Operating in the quick service segment of the restaurant industry, Tim Hortons appeals to a broad range of consumer tastes, with a menu that includes premium coffee, hot and cold specialty drinks (including lattes, cappuccinos and espresso shots), specialty teas and fruit smoothies, fresh baked goods, grilled Panini and classic sandwiches, wraps, soups, prepared foods and other food products. As of June 29, 2014, Tim Hortons had 4,546 systemwide restaurants, including 3,630 in Canada, 866 in the United States and 50 in the Gulf Cooperation Council. More information about the Company is available at www.timhortons.com.

About Burger King Worldwide
Founded in 1954, BURGER KING® (NYSE: BKW) is the second largest fast food hamburger chain in the world. The original HOME OF THE WHOPPER®, the BURGER KING® system operates in approximately 14,000 locations serving more than 11 million guests daily in 98 countries and territories worldwide. Approximately 100 percent of BURGER KING® restaurants are owned and operated by independent franchisees, many of them family-owned operations that have been in business for decades. To learn more about Burger King Worldwide, please visit the company‘s website at www.bk.com

OAK BROOK, IL – McDonald’s Corp. today announced its biennial summary of innovation in the 2014 Global “Best of Green” report. “Best of Green” is a collection of best practices that illustrates progress in five categories — energy, recycling and waste, sustainable sourcing, engagement and greening the restaurants/workplace.

“The success of McDonald’s is built on the talent and ingenuity of the people in our system,” said Ken Koziol, McDonald’s chief restaurant officer. “Many of our best ideas come from company and franchisee employees at all levels, from all areas of the world. They see, first-hand, ways to improve practices that ultimately benefit the environment and the communities we serve.”

Highlights from the 2014 Best of Green report include:
Recycling & waste: McDonald’s Pacific Sierra Region created a waste diversion execution manual enabling restaurants to deploy mixed recycling, organics recycling, or both, by providing checklists, shift huddles, and crew/customer engagement and education materials. The manual was initially piloted in 11 California Bay Area restaurants (Alameda County) resulting in an estimated diversion of 70 cubic yards of waste from landfills each week. The pilot program is being replicated in additional restaurants throughout the Pacific Sierra Region.
Sustainable sourcing: McDonald’s USA, McDonald’s Canada and their franchisees are investing more than $6 million in a farmer technical assistance program. The initiative includes collaboration with TechnoServe and SCAN (Sustainable Commodities Assistance Network) to provide farmers with assistance and training to produce coffee in a more sustainable manner.
Greening our restaurants: McDonald’s U.K., has launched a program for recycling restaurant employee uniforms. Uniforms will be collected annually by textile recyclers to be ‘recycled or ‘down-cycled’, shredded and used as mattress stuffing.
Conserving water: A water reduction strategy in India — where water usage remains an area of concern — that saves an estimated 1.7 million gallons of water annually by installing low-flow urinals in 70 McDonald’s India restaurants.
Bob Langert, Vice President of Sustainability at McDonald’s, said, “We are on a mission to leverage resources and talent across our global system to challenge the status quo and make meaningful, positive changes to the environment.”

The “Best of Green” selection committee included representatives from McDonald’s, Business for Social Responsibility, Ceres, Conservation International, Foresight Design and World Wildlife Fund. Entries were judged based on innovation, environmental and business impacts, scalability and business integration.

“The stakeholders within McDonald’s are identifying practical, scalable and impactful ideas for their system,” said Sonal Pandya Dalal of Conservation International. “These good ideas can be shaped into programs that can make a real difference for people and the planet.”

About McDonald’s
McDonald’s is the world’s leading global food service retailer with more than 35,000 locations serving approximately 70 million customers in more than 100 countries each day. More than 80% of McDonald’s restaurants worldwide are owned and operated by independent local business men and women. To learn more about the company, please visit: www.aboutmcdonalds.com

NORWALK, Conn., . . . Priceline.com, a leader in mobile travel and part of The Priceline Group [NASDAQ: PCLN], announced today the launch of a custom-created hotel search and booking app specially designed for Amazon’s new Android-based Fire phone, which launched on July 25. The priceline.com Fire Phone app is available now for free download from the Amazon Appstore.

Today’s announcement is part of priceline.com’s continuing commitment to create customized native apps for the expanding universe of mobile phones, tablets and other devices from major mobile innovators like Amazon. It is also a reflection of the growing popularity of Android devices among mobile travelers. In 2013, priceline.com’s Android app experienced the highest year-over-year growth of all of the company’s mobile platforms, more than doubling.

“We know that a good portion of mobile travelers search for their hotels while they’re literally ‘on-the-go,’” said priceline.com’s Chief Product Officer, John Caine. “That often means they are in a car, or possibly on some form of public transportation, where it is challenging to manipulate the smaller screens by hand. Amazon’s Dynamic Perspective technology creates a more ‘hands-free’ – and significantly faster – booking environment that is especially convenient and valuable to mobile travelers.”

“Travel represents an exciting opportunity to leverage Fire phone’s technology and features,” said Steve Rabuchin, Vice President, Amazon Appstore. “We’re thrilled that priceline.com has created an app for Fire phone. We think customers are going to love the experience.”

Priceline.com’s new hotel app zeroes in to take advantage of Fire phone’s most exciting technologies, including:

Travelers using the app are greeted by a multi-dimensional priceline.com logo that leverages Fire phone’s Dynamic Perspective technology. The entertaining logo was specially created for priceline.com by Felipe Cerdan, an artist who has done extensive work for Disney, DreamWorks and Warner Brothers.
The priceline.com Fire phone app incorporates an active widget that remembers users’ most recent hotel searches and will display up-to-the-minute hotel recommendations from other guests who have recently completed stays in that area.

Travelers will instantly benefit from priceline.com’s incorporation of Fire phone’s 3-paneled design. Fire phone users can quickly switch from panel to panel by simply tilting the phone. In priceline.com’s case, the left-hand panel displays the three different ways to shop hotels (browse all hotels, check out specially discounted Express Deals, or bid using the Name Your Own Price feature). The right-hand panel continues to show guest hotel recommendations; and, the center panel allows travelers to shop according to their preference.

The priceline.com Fire phone app gives travelers access to priceline.com’s full global complement of hotels available at competitive published rates and at special discounts available only to priceline.com customers. Priceline.com also offers a free travel app for owners of Amazon’s Kindle Fire tablets that enables them to book hotels, rental cars and airline tickets from priceline.com’s extensive collection of travel services and inventories.

For more information on the new app, visit www.priceline.com/media/ or connect with us on Facebook and Twitter.

About priceline.com
Priceline.com, part of The Priceline Group [NASDAQ: PCLN], gives leisure travelers multiple ways to save on their airline tickets, hotel rooms, rental cars, vacation packages and cruises. In addition to getting compelling published prices, travelers can take advantage of priceline.com’s famous Name Your Own Price® service, which can deliver the lowest prices available, or the recently added Express Deals®, where travelers can take advantage of hotel discounts without bidding.

STAMFORD, Conn.– Today, Westin Hotels & Resorts unveiled the next stage of its year-long Westin Well-Being Movement with the announcement of two new nutrition-focused partnerships with SuperChefs™ and The Juicery and the newest member of the brand’s Well-Being Council, dietician Ashley Koff RD.

As an advocate for wellness and healthy eating, Westin teamed up with SuperChefs, a group of doctors, dentists, dieticians, chefs and other experts dedicated to educating kids on the importance and the fun of eating smart, to create The Westin Eat Well Menu for Kids. The extensive new menu, which has rolled out to properties worldwide, includes eight signature dishes created and tested by kids, receiving a stamp of approval from notoriously finicky eaters. A new, dedicated fresh juice and smoothie offering, Westin Fresh by The Juicery, is currently rolling out to hotels worldwide. The program was created with leaders in nutrition, featuring juices and smoothies designed for business and leisure travelers seeking healthy options while traveling.

“As we continue to roll-out innovative wellness options for our guests as part of the Westin Well-Being Movement, we saw this as a perfect opportunity to introduce two new programs that are carefully customized to help guests continue their healthy eating habits while traveling,” said Brian Povinelli , Global Brand Leader for Westin & Le Méridien Hotels. “Both SuperChefs and The Juicery have made great strides in making it easier to help maintain a healthier life while promoting the importance of good nutrition.”

Kid-Tested Menus Puts the Fun into Healthy Eating

Westin’s partnership with SuperChefs demonstrates the brand’s dedication to the well-being of its guests – big and small – by now offering a menu fully dedicated to healthy options for kids at its hotels around the world. The Westin Eat Well Menu for Kids engages children through a colorful, playful menu placemat filled with inventive dishes like Build Your Own Fruit Crepes that allow kids to actually play with their food, providing a sense of discovery while imparting the value of healthy eating. The new kids’ menu features a vibrant array of healthful, tasty dishes such as Build Your Own Salmon Niçoise Salad that were created and tested by SuperChefs kids. Each menu placemat is complete with games like “word scrambles” for kids to solve while enjoying their Baby Spinach & Cheese Omelet and educational tidbits on what makes certain foods “super.” In partnership with SuperChefs Creator and Founder Dr. Greg Chang , SuperChefs Advisory Board member and Yale Wellness Manager Lisa Kimmel , and their staff of professional chefs and educators, the new menus were developed to help teach the essentials of balanced nutrition and food preparation.

More Than 50% of Parents Concerned about Healthy Food Options on the Road

Increasingly, guests are concerned not only for their own well-being but that of their children as well. According to the brand’s well-being survey conducted earlier this year, when it comes to food options while traveling, more than half of respondents are most concerned about the limited access to healthy food options and 41% of parents are concerned about gaining weight while on the road due to the limited healthy food options. And how do parents get their little ones to eat their veggies? One third of those surveyed bribe their children by giving them access to TV or smartphones and 30% offer a special sweet treat in exchange for eating a healthy meal. The Westin Eat Well Menu for Kids was designed to combat the challenges parents face, arming them with a seamless way to provide kids with a wholesome, delicious meal.

Westin Gets Fresh with The Juicery

Westin and The Juicery worked with a leading nutritionist to develop an assortment of energizing juices and smoothies designed to enhance well-being and provide fuel for the day. Did you know that 95% of the vitamins and enzymes our bodies need are found in the juice from raw fruits and vegetables? Westin Fresh by The Juicery juices and smoothies are designed to nourish the body and mind with nutrition rich ingredients including beetroot, açai, kale, pomegranate, mint, spinach and blueberries. The new menu will be featured at all Westin hotels worldwide by early 2015.

The Business of Eating Well

In addition to the new partnerships and programming with SuperChefs and The Juicery, Westin has also appointed its next expert to the Westin Well-Being Council. Leading the charge of providing insightful and informational content surrounding the brand’s “Eat Well” pillar is Ashley Koff, RD. An internationally-renowned dietician, Koff is dedicated to imparting the value of quality nutrition choices in achieving optimal health. The Westin Well-being Council is a diverse advisory board composed of renowned thought leaders, each of whom aligns with a specific wellness brand pillar. Ashley joins Council members Andy Puddicombe , Headspace Co-Founder and mediation expert, and media mogul Arianna Huffington in guiding and inspiring new initiatives, leveraging proprietary research to inform and introduce new programs throughout the year.

“Westin is the first global hotel brand I have encountered that takes such a thorough approach to the well-being of its guests,” said Ashley Koff RD. “I look forward to contributing my experience and knowledge to the Westin Well-being Movement to further inspire others to pursue and enjoy a balanced, healthy life.”

With a brand positioning rooted in wellness for more than a decade, Westin Hotels & Resorts is dedicated to ensuring that guests leave feeling better than when they arrived. Earlier this year the brand launched The Westin Well-Being Movement – a year-long global initiative designed to enhance the well-being of guests and associates with the introduction of a string of innovative partnerships and programs across the brand’s six pillars of well-being: Feel Well, Work Well, Move Well, Eat Well, Sleep Well and Play Well. Building upon its existing healthy SuperFoodsRx™ menus, Westin recently introduced new delicious and nutrient-rich offerings including Westin Fresh by The Juicery, featuring energizing juices and smoothies, and kid-tested nourishing dishes developed in partnership with SuperChefs on the Westin Eat Well Menu for Kids (Eat Well). The brand also recently announced a partnership with the mindful meditation app, Headspace (Feel Well), in which guests have exclusive access to customized content through the Westin website, designed to spread healthy benefits including decreasing stress, improving mood and increasing creativity. The inspiration for Westin’s wellness strategy, the iconic Heavenly® Bed (Sleep Well) is beloved by guests and lauded as one of hospitality’s great innovations. WestinWORKOUT®, RunWESTIN™ and Westin Gear Lending with New Balance® (Move Well) together pack a formidable punch, offering guests a holistic fitness solution. The brand’s nature-inspired design, signature sensory welcome, Heavenly Bath and Heavenly Spa (Feel Well) offer a relaxing respite from the rigors of travel. Tangent (Work Well), an innovative workspace concept for small groups modeled to support today’s mobile traveler, is receiving rave reviews and high usage from guests in locations where available. Westin Weekend (Play Well) signature experiences are designed to let guests escape, discover and relax and the brand’s digital destination guide, Westin Finds from AFAR, provides guests with uniquely curated travel experiences.

For more information on Westin’s Eat Well pillar and the brand’s Well-Being Movement click here. For more information on Westin Hotels & Resorts, please visit www.westin.com,

About SuperChefs
SuperChefs Entertainment Inc. is a company dedicated to teaching kids invaluable cooking skills and promoting healthy eating habits by focusing our animated characters, the SuperChefs of the Universe, on entertaining and educating young children, in all forms of media, about the power and the fun that comes from the joy of cooking, eating nutritious foods, daily exercise and the lifelong impact they can have on their lives. SuperChefs is guided by international experts in the healthcare, culinary, entertainment and academic world and owns the SuperChefs brands, including The Super Chefs of the Universe, a program for younger children aged 4-8 years designed with a ‘super hero’ theme. The SuperChefs, Mira, Spicer, Coco, Potpan, Wrapper and Mixer try to save the universe from the evil Deep Fry and his gang of fast food fiends. Dr. Greg’s SuperChefs Cookery for Kids program is a hands on cooking program designed for kids 8-12 years where “Kids get Cooking!’” Programs are run by the SuperChefs Cookery for Kids Society in schools, community centres, resorts, summer camps and culinary events across North America in partnership with many corporations, government agencies and NGOs. The goal of SuperChefs Entertainment Inc. is to help support the non-profit efforts of the SuperChefs Cookery Society. For more information www.superchefs.tv

About The Juicery
The Juicery is a new approach to healthy drinking and eating, from the experts’ point of view. A juice bar at heart, we have commissioned leaders in nutrition and integrative medicine to come up with signature recipes that taste as good as they are good for you. In January 2014, The Juicery will introduce its first book, Juice, Blend, Taste (Rizzoli). For a list of locations, please visit www.thejuiceryworld.com.

About Westin Hotels & Resorts
Westin Hotels & Resorts has been a leader in wellness and hospitality for more than a decade. Today, Westin has 200 hotels and resorts in nearly 40 countries and territories, and is owned by Starwood Hotels & Resorts Worldwide, Inc., one of the leading hotel and leisure companies in the world with nearly 1,200 properties in 100 countries and 181,400 employees at its owned and managed properties. Starwood is a fully integrated owner, operator and franchisor of hotels, resorts and residences with the following internationally renowned brands: St. Regis®, The Luxury Collection®, W®, Westin®, Le Méridien®, Sheraton®, Four Points® by Sheraton, Aloft®, and Element®. The Company boasts one of the industry’s leading loyalty programs, Starwood Preferred Guest® (SPG®), allowing members to earn and redeem points for room stays, room upgrades and flights, with no blackout dates. Starwood also owns Starwood Vacation Ownership, Inc., a premier provider of world-class vacation experiences through villa-style resorts and privileged access to Starwood brands. For more information, please visit www.starwoodhotels.com.

What would Starbucks beverages look like if they were interpreted in another handcrafted form?

At a recent South Korea fashion show, a vibrant pink blouse, belted with an oversized fabric flower, over a taupe-colored layered, flared skirt represented a new Starbucks beverage introduced in Korea – the Passion Tea Lemonade Starbucks Fizzio™ with Hibiscus Jelly.

As summer surges on, Starbucks Korea unveiled Starbucks Fizzio™ Sparkling Beverages – refreshing handcrafted drinks with flavorful layers of unique tastes and textures, finished with a delicate, carbonated sparkle.

Three months ago, Starbucks unveiled Fizzio™ Handcrafted Sodas in select stores in the U.S. Each Fizzio soda contains no artificial flavors, no preservatives or high fructose corn syrup and a Grande (16 fluid ounces) has 100 calories or less.

At the celebratory fashion show in Starbucks Famille Park store in Seoul, three new Starbucks Fizzio™ Sparkling Beverages debuted.

Lemon Ginger Starbucks Fizzio™ with Mango Jelly: Real fruit juice and spices create a light, citrus flavor with notes of ginger and rosemary that go perfectly with rich mango jelly.
Passion Tea Lemonade Starbucks Fizzio™ with Hibiscus Jelly: Refreshing bright citrus and floral notes and smooth hibiscus jelly provide a lively, balanced zing.
Yogurt Citrus Starbucks Fizzio™ with Mango Jelly: Combines real yogurt with creamy mango jelly for a tangy and fresh flavor.
In developing Starbucks Fizzio™ Sparkling Beverages, the company blends local taste preferences with its signature twist to deliver more complex and layered flavors.

The Fizzio fashion show also marked Starbucks 15th anniversary in Korea and the opening of Starbucks Famille Park location.

The store’s exterior is a geometric glass dome structure that invites customers to enjoy an “urban coffee forest” within the city. The interior features coffee trees, wood, and decorations that use eco-friendly materials such as burlap bags. Coffee trees in pots are also placed around the store to bring nature into the space.

Starbucks offers a variety of locally-sourced food and beverage options created exclusively for the Famille Park store. That includes 32 kinds of gourmet foods such as Basil Chicken Baguette, Nicoise Ciabatta, Curry Chicken Focaccia, and Double Chocolate Éclair. In addition, beverages including Sunrise Apple Juice, Raspberry Orange Juice, Green Tea Banana Frappuccino and Full Moon Chocolate Banana Frappuccino were developed exclusively for the store.

Starbucks opened its first South Korean store in July of 1999 and has grown over the past 15 years with 680 stores in the country today. Globally, Starbucks has 20,863 retail stores in 65 countries.

This is courtesy of www.starbucks.com

ORLANDO, Fla. and SAN FRANCISCO — Darden Restaurants, Inc. (NYSE: DRI) and Golden Gate Capital today announced that Golden Gate has completed the acquisition of the Red Lobster business and certain other related assets and assumed liabilities for approximately $2.1 billion in cash.

The sale of Red Lobster is the culmination of a robust competitive process that enabled Darden to maximize the value of Red Lobster, eliminate the risks and volatility associated with continuing to own the business, and provide a realistic market-validated valuation of Darden’s real estate assets. The sale is also consistent with Darden’s strategy of increasing its focus on its Olive Garden brand renaissance program and preserving its dividend.

As previously announced, approximately $1.0 billion of the net cash proceeds are expected to be used to retire outstanding debt. The remaining net proceeds of approximately $500 million to $600 million are expected to be deployed for a new share repurchase program of up to $700 million in fiscal 2015. In addition to strengthening Darden’s credit profile, with the lower debt levels and reduced outstanding share count, Darden expects to maintain its current quarterly dividend of $0.55 per share, or $2.20 annually.

Clarence Otis, Darden’s Chairman and CEO, said, “We are pleased to have completed the sale of Red Lobster as planned. The completion of this transaction marks an important milestone in the actions we are taking to improve our operations, reduce costs, and focus on opportunities with the highest value-creating potential. While we still have work to do, we are making progress in our efforts to enhance performance and shareholder value.”

“We are excited to have successfully completed the acquisition of Red Lobster, officially beginning our partnership with this iconic brand as it enters into this exciting new chapter of growth,” said Josh Olshansky, Managing Director at Golden Gate Capital. “We strongly support CEO Kim Lopdrup’s vision to deliver Great Seafood, Great People and Great Results. We look forward to leveraging the Company’s unparalleled brand awareness to expand its leadership position in casual dining, and driving long-term success by delighting millions of loyal customers.”

Advisors
Goldman, Sachs & Co. served as Darden’s exclusive financial advisor on the sale of Red Lobster and also as financial advisor to Darden’s Board of Directors. Latham & Watkins served as legal counsel to Darden on the transaction. Morgan Stanley is serving as financial advisor working exclusively at the direction of Darden’s Board of Directors, and Wachtell, Lipton, Rosen & Katz is serving as legal advisor to Darden’s Board of Directors.

Deutsche Bank Securities Inc. and Jefferies LLC served as financial advisors to Golden Gate Capital in connection with the transaction. Deutsche Bank Securities Inc., GE Capital, and Jefferies Finance LLC provided debt commitments for the acquisition. Kirkland & Ellis LLP served as legal counsel to Golden Gate Capital on the transaction.

About Golden Gate Capital
Golden Gate Capital is a San Francisco-based private equity investment firm with over $12 billion of capital under management. The principals of Golden Gate have a long and successful history of investing across a wide range of industries and transaction types, including going-privates, corporate divestitures, and recapitalizations, as well as debt and public equity investments. Golden Gate is one of the most active investors in multi-unit consumer companies with leading brands. Representative investments include Ann Taylor, California Pizza Kitchen, Payless ShoeSource, Eddie Bauer, Express, Zales, J.Jill and Pacific Sunwear. For additional information, visit www.goldengatecap.com.

About Darden
Darden Restaurants, Inc., (NYSE: DRI), the world’s largest full-service restaurant company, owns and operates more than 1,500 restaurants that generate approximately $6.3 billion in annual sales. Headquartered in Orlando, Fla., and employing more than 150,000 people, Darden is recognized for a culture that rewards caring for and responding to people. In 2014, Darden was named to the FORTUNE “100 Best Companies to Work For” list for the fourth year in a row. Our restaurant brands – Olive Garden, LongHorn Steakhouse, Bahama Breeze, Seasons 52, The Capital Grille, Eddie V’s and Yard House – reflect the rich diversity of those who dine with us. Our brands are built on deep insights into what our guests want. For more information, please visit www.darden.com.

Chevy Chase, Md., – How does a luxury hotel company bring its brand to life and showcase a memorable performance by highly skilled artists in China? It recruits one of the nation’s finest performance arts troupes to offer spontaneous acrobatic shows in Shanghai, and then shares the beautiful video content with a global digital audience.

The Ritz-Carlton has launched a two and a half minute film highlighting impromptu performances by entertainers in Shanghai. Titled ‘Miao’, which means mysterious and full of wonder in Mandarin, the show celebrates the combined world of luxury and Chinese hospitality, telling the story of a memorable stay for two guests at a Ritz-Carlton hotel.

The video is designed to bring The Ritz-Carlton experience to life in a new and unexpected format that would be exciting to today’s social media savvy guests. It begins backstage as the performers prepare themselves for this magical evening. From the bellboys’ warm welcome to a singing chef and a spectacular grand finale the performers dance, sing and flip through the air in front of a live audience outside The Ritz-Carlton Shanghai, Pudong.

“The energetic performance is a way to highlight our rich heritage and create dialogue around our ladies and gentlemen who create memories for our guests every day,” said Ed French, Chief Sales and Marketing Officer of The Ritz-Carlton. “Performance Arts are universal and we created this campaign specifically with social media and the digital space in mind to reinforce our values in an unexpected format for a luxury brand.”

The dramatic and custom-created live performances immersed audiences with a one-of-a-kind blend of choreography that married international performance art with Chinese acrobatics. The shows are also designed to encourage audiences to share their experiences via their social media channels using The Ritz-Carlton brand hashtag #RCMemories.

Over a year in the making, the performances follow a couple’s check-in to a luxurious Ritz-Carlton and each stage of their stay. “Our ladies and gentlemen go over and above to surprise and delight guests with special memories. The film is a nod to authenticity, while demonstrating how we empower our ladies and gentlemen every day to create experiences,” added Mr. French.

About The Ritz-Carlton Hotel Company, LLC
The Ritz-Carlton Hotel Company, L.L.C., of Chevy Chase, Md., currently operates 86 hotels in the Americas, Europe, Asia, the Middle East, Africa, and the Caribbean. More than 30 hotel and residential projects are under development around the globe. For more information, or reservations visit the company web site at www.ritzcarlton.com. The Ritz-Carlton Hotel Company, L.L.C. is a wholly-owned subsidiary of Marriott International, Inc. (NASDAQ:MAR).

KFC had a vision to condense an 80-page instruction manual into an interactive video that would play on a screen the size of a fingerprint. And they did just that, by developing a Google Glass platform to explore how team members train and respond to the fast-changing restaurant environment.

Resembling an elaborate Bluetooth earpiece, Google Glass is one of the more prominent technologies driving the recent electronics trend known as “wearables” – small, inobtrusive computing devices that track, monitor, and provide dynamic information about and to its wearer.

To test Google Glass as a training tool, KFC partnered with Interapt, a mobile development and strategy firm located in Louisville, Ky. Following several months of development earlier this year, designers arrived at a platform that condensed an 80-page training guide into a Glass-based program fittingly named Vision 2020.

Co-sponsored by Yum! Brand’s Chief Learning Officer Rob Lauber, the platform was intended to be a standards library with audio and video support for every function performed in the restaurant. “Our goal with the Vision 2020 project was to build a prototype that demonstrated what might be possible on the horizon,” said Lauber. “It isn’t so much about being a training platform as it is about the ability to provide learning at the time and place someone needs it in an easily accessible way. We have all been through training classes, online and in classrooms, where most of what we experience is not remembered only a week later. This prototype explored our ability to skip those methods and make procedures accessible on demand and hands-free.”

The platform prototype consists of a series of videos that play on Google Glass, guiding a trainee through the product preparation process. As steps are completed, the trainee can simply say ‘next’ to advance the video. “The experience was really amazing,” said Malissia Pendleton, Senior Manager for Readiness and Centralized Training for KFC. “You could actually see visually what you need to do while you were doing it.”

Since testing of the device concluded in March, Lauber and Pendleton have been enthusiastic about the learnings derived from the prototype’s trial run. “We were able to identify what we could do now to change the way we offer training to be more of a performance support,” Pendleton remarked. “We would have never connected the dots that fast on things that we could do now had we not been involved with the prototype project.”

Lauber said it’s still too early to tell how adoption of Google Glass might be integrated within KFC restaurants, noting development of the platform is exploratory and meant as a learning exercise for now.

This courtesy of www.yum.com

STAMFORD, Conn.– Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) today announced that its world-renowned Westin brand has reached the 200th hotel milestone with the opening of The Westin Chongqing Liberation Square in China. Westin will follow this growth milestone with the opening of three more hotels in China: The Westin Zhujiajian Resort in Zhoushan, The Westin Blue Bay Resort in Qingshui Bay, Hainan and The Westin Haikou in Hainan. Starwood expects to open a total of nine new Westin hotels worldwide in 2014 and nearly another 30 by the end of 2016, with almost half of those new hotels in Asia Pacific, the brand’s fastest growing region.

“The Westin brand has built a strong foundation and following in established markets over the last decade, and the fact that we have opened our 200th Westin in China is illustrative of the phenomenal demand we are now experiencing in Asia Pacific, as well as our strong and deep-rooted local teams in dynamic markets worldwide,” said Simon Turner, President of Global Development for Starwood. “Emerging markets now account for nearly 70% of the Westin development pipeline, fueled by accelerating demand in China and India, where rising wealth and rapid urbanization have generated a fierce appetite for strong global brands.”

“In just the past five years, Westin has evolved from a primarily North American brand to a global growth leader due to the tremendous worldwide appeal of its distinctive wellness positioning. We are experiencing rapid growth not only in Asia Pacific, but also in the Middle East and throughout the Americas,” said Brian Povinelli, Global Brand Leader for Westin Hotels & Resorts and Le Meridien. “Renowned as one of the industry’s most innovative brands, Westin has cultivated a loyal following among global travelers, which in turn has created a buzz among owners and developers who are eager to introduce Westin to new markets worldwide.”

Emerging Markets Propel the Westin Brand’s Global Growth
Demand for Westin continues to surge in China and India, the world’s two fastest growing travel markets. The opening of The Westin Chongqing marks the Westin brand’s debut in this important economic hub in southwest China and offers travelers an ideal location in the city’s central business district. By year’s end, the Westin portfolio in China will surpass 20 hotels, including debuts in several other new markets such as Zhujiajian in Zhoushan, Qingshui Bay and Haikou in Hainan. In the next three years, the Westin portfolio in China will increase by nearly 50% with the addition of 11 new hotels.

Turner added: “As more and more people have the means and desire to travel, particularly from China which is now the world’s largest tourism source, we are seeing increased demand for resort destinations. To meet this growing demand, Westin is growing its global resort portfolio, including the opening of The Westin Blue Bay Resort in Qingshui Bay, Hainan – China’s premier resort destination, The Westin Zhujiajian Resort in Zhoushan – China’s largest archipelago and a popular tourist destination, as well as the upcoming openings of The Westin Bekal Resort & Spa in India and The Westin Ubud Resort & Spa in Indonesia.”

In India, Westin will also open The Westin Delhi NCR Noida next year, as the brand remains on track to grow its portfolio in the country by 50% in the next three years. In Indonesia, Westin will jump from one to three hotels in the next two years. In addition to The Westin Ubud Resort & Spa opening in Bali this fall, the brand will debut The Westin Jakarta in 2015. Westin also continues to reignite in markets across Asia Pacific with the brand’s return to Singapore last November after a 12-year absence and in 2016 will re-enter the Philippines.

In the Middle East, Westin is expanding rapidly and will triple its portfolio by 2016 with the addition of five new hotels in markets including Saudi Arabia, Jordan and the United Arab Emirates.

Westin Expands Footprint in the Americas
A long-time developer favorite in the U.S., Westin has built a very strong foundation in North America over the last decade, laying the foundation for the brand’s phenomenal global growth. Nearly two thirds of Westin’s current portfolio and more than 25% of the brand’s pipeline is in the Americas.

In North America, Westin is increasingly sought after for new hotel developments in revitalized downtown districts. This trend is exemplified by the recent opening of The Westin Wilmington, the newest addition to the city’s recently redeveloped waterfront. Other key openings in 2014 include the internal conversion of The Westin Crystal City and The Westin Cleveland Downtown followed by openings in San Jose, California, Austin, Texas, Bethesda, Denver and Jackson, Mississippi in 2015.

In Latin America, Westin has grown its footprint by over 80% in the past three years, entering a number of new markets such as Peru, Panama and Costa Rica and further expanding its strong presence in Mexico. The brand now boasts 12 hotels in the region.

About Westin Hotels & Resorts
Westin Hotels & Resorts offers innovative programs that transform every aspect of a stay into a revitalizing experience. All Westin signature services – like the Heavenly Bed®, delicious SuperFoodsRx® and WestinWORKOUT® studio – have been designed with the guests’ well-being in mind. Westin hotels, with more than 190 hotels and resorts in nearly 40 countries and territories, is owned by Starwood Hotels & Resorts Worldwide, Inc., one of the leading hotel and leisure companies in the world with nearly 1,200 properties in 100 countries and 181,400 employees at its owned and managed properties. Starwood is a fully integrated owner, operator and franchisor of hotels, resorts and residences with the following internationally renowned brands: St. Regis®, The Luxury Collection®, W®, Westin®, Le Méridien®, Sheraton®, Four Points® by Sheraton, Aloft®, and Element®. The Company boasts one of the industry’s leading loyalty programs, Starwood Preferred Guest® (SPG®), allowing members to earn and redeem points for room stays, room upgrades and flights, with no blackout dates. Starwood also owns Starwood Vacation Ownership, Inc., a premier provider of world-class vacation experiences through villa-style resorts and privileged access to Starwood brands. For more information, please visit www.starwoodhotels.com.

As Americans around the country grow increasingly frustrated with the partisan gridlock in Washington, a few mayors are looking to neighborhood Starbucks stores to help spark local action.

Through the new Solutions City℠ initiative, mayors in five cities – Sacramento, Baltimore, Columbus, Orlando, and Phoenix – will bring together constituents and other local leaders for town hall meetings in their neighborhood Starbucks store to identify and tackle civic challenges on three key issues: providing access to education, supporting veterans, and empowering opportunity youth.

Over the arc of one year, they will solve concrete community problems that they identify together. While Starbucks will serve as the arena for these community conversations, the U.S. Conference of Mayors (USCM) will lend its network of dedicated mayors from around the country to help share best practices and spark greater impact.

“More and more people feel their communities need to take ownership of local problems, spark a spirit of bottom-up reform, and act, but they don’t always know how – or get the invitation to start,” said Sacramento Mayor Kevin Johnson, President of the USCM. “The Solutions City℠ program is an opportunity to change that. With this program, we’ll bring mayors, citizens and other community leaders together, in a familiar forum like your local Starbucks, where we all have a hand in finding and solving problems.”

For Starbucks, the program is a natural fit. Customers often gather in stores around cups of coffee to discuss issues impacting their families, schools and communities. It’s the idea of the “third place” that has been at the heart of Starbucks business for years. More recently, with the launch of the Starbucks College Achievement Plan and commitment to hire 10,000 Veterans and military spouses, the Solutions City℠ focus on education, opportunity youth and veterans represents a fit with the values of its partners (employees) and customers. Starbucks will also look at opening Community Stores in these markets to not only serve as a venue for the town hall community meetings, but where part of each store’s revenue will be dedicated to solutions-based programs in those communities.

“With every cup in every community, we always strive to make a positive impact for those we serve, both on the job and in our communities,” said Blair Taylor, executive vice president and chief community officer for Starbucks. “Mayors are already local problem solvers. With the public-private partnership of the Solutions City℠ program, we will work with Mayors and community stakeholders to strengthen dialogues and ultimately, to bring tangible solutions to life.”

USCM and Starbucks unveiled the initiative at the 82nd Annual Meeting of the U.S. Conference of Mayors on Saturday, June 21. More than 200 of the nation’s mayors from cities large and small came together to discuss bold new ideas to improve the economic health of the nation’s cities, transportation, education, housing, and help for returning Veterans. Taylor was joined by the five mayors participating in the initial program – Sacramento Mayor Kevin Johnson, Columbus Mayor Michael Coleman, Orlando Mayor Buddy Dyer, Phoenix Mayor Greg Stanton, and Baltimore Mayor Stephanie Rawlings-Blake.

“Mayors across America have shown, time and again, their ability to solve tough social and economic challenges with minimum resources,” said Tom Cochran, Executive Director of the U.S. Conference of Mayors. “Combined with Starbucks scale and unique place in the neighborhoods they serve, we have an opportunity to create new forums for dialog, with simpler ways for citizens to participate in that full journey of problem-solving.”

Starbucks and each of the five cities involved will carefully evaluate the value and impact of the program. If the Solutions City℠ program proceeds to a larger roll-out, Starbucks will consider a full applications process for all USCM members.

About Starbucks
Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting high-quality arabica coffee. Today, with stores around the globe, the company is the premier roaster and retailer of specialty coffee in the world. Through our unwavering commitment to excellence and our guiding principles, we bring the unique Starbucks Experience to life for every customer through every cup. To share in the experience, please visit us in our stores or online at Starbucks.com.

About the U.S. Conference of Mayors
The U.S. Conference of Mayors is the official nonpartisan organization of cities with populations of 30,000 or more. There are nearly 1,400 such cities in the country today, and each city is represented in the Conference by its chief elected official, the mayor. To learn more, visit usmayors.org

The UK’s hospitality, leisure and retail sectors are set to see significant growth over the next few years, according to a new report from Barclays, which reveals annual expenditure from domestic tourists will surge by 25% to over £108 billion by 2017. The research, independently commissioned for Barclays’ Retail and Hospitality & Leisure sector teams, reveals that growth in domestic tourism will largely be driven by continuing pressures on the cost of living, with many financially under pressure consumers opting to bypass overseas travel in favour of domestic locations.

Mike Saul, Head of Hospitality & Leisure at Barclays, commented: “The economy is improving and confidence is certainly growing, and while this will lead to a gradual rise in the number of consumers looking to holiday abroad again, it is unlikely to precipitate a return to the holidaying habits we were seeing prior to the downturn.”

The hospitality and leisure sector will benefit most from the trend towards ‘staycations’, with domestic tourist spend growing to £69 billion by 2017. Pubs and restaurants will be the greatest benefactors, with spend expected to rise by 26% to £37 billion as more people dine out. Hotels and B&Bs will see domestic tourist spend increase by 25% to £17 billion and leisure attractions by 27% to £15 billion,

While high street retailers continue to face stiff competition from the growth of online sales, the sector will still attract a 23% rise in domestic tourist spend by 2017, to £15.6 billion. In particular, it is predicted that expenditure from UK consumers will fuel impressive growth in the fashion and home sectors, of 33% and 39% respectively.
The outlook is positive across the UK, although some locations will benefit more than others. London will continue to top the ‘staycation’ league table; attracting 16% of domestic spend by 2017. Furthermore, businesses in the South East, South West and Scotland will also perform strongly.

Mike Saul continues: “With domestic tourism set to be big business for the UK’s hospitality and retail sectors, those with a clearly targeted strategy are set to benefit. It is key that operators understand their customer base and crucially how to communicate with them via the channels their clients prefer to use, be it through social media, print advertising, television or radio. Online channels continue to present a huge opportunity to drive sales and the increasing popularity of search engines and review websites suggests that time and effort would be well spent monitoring and responding to any reviews of their business.”

About Barclays
Barclays is an international financial services provider engaged in personal banking, credit cards, corporate and investment banking and wealth management with an extensive presence in Europe, the Americas, Africa and Asia. Barclays’ purpose is to help people achieve their ambitions – in the right way.

With over 300 years of history and expertise in banking, Barclays operates in over 50 countries and employs approximately 140,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide.

This news is courtesy of www.barclays.com