News Briefs

TGI Fridays Inc. the owner and operator of 39 domestic restaurants in the  TGI Friday’s casual dining chain,  filed voluntary petitions under Chapter 11 of the U.S. Bankruptcy Code in the Northern District of Texas. The Company expects to use the time and legal protections made available through the Chapter 11 restructuring process to allow the Company to explore strategic alternatives in order to ensure the long-term viability of the brand.

The TGI Fridays brand and related intellectual property are owned by TGI Fridays Franchisor, LLC as a result of a securitization agreement with a separate investor group. These entities are not included in the Chapter 11 process.

TGI Fridays Franchisor, LLC has franchised the brand to 56 franchisees in 41 countries. All of these franchise locations, both domestic and international, are independently owned and therefore not included in TGI Fridays Inc.’s Chapter 11 process. They are open and serving customers as usual.

To ensure continuity of service to franchisees, TGI Fridays Franchisor, LLC has negotiated a Transition Services Agreement (“TSA”) with – and provided interim funding to – TGI Fridays Inc. to maintain support services for franchisees while TGI Fridays Franchisor, LLC works to implement a new long-term support structure.

In addition to supporting franchise restaurants, TGI Fridays Inc. maintains operations across its corporate- owned restaurants in the U.S. The Company has secured a commitment for debtor-in-possession financing to support operations while proceeding through the Chapter 11 process. It also filed motions with the Bankruptcy Court that, when approved, will allow the Company to, among other things, continue its customer programs in the normal course. These motions are typical of the Chapter 11 process and are expected to be heard and approved in the first days of the case.

"The next steps announced today are difficult but necessary actions to protect the best interests of our stakeholders, including our domestic and international franchisees and our valued team members around the world," said Rohit Manocha, Executive Chairman of TGI Fridays Inc. "The primary driver of our financial challenges resulted from COVID-19 and our capital structure. This restructuring will allow our go- forward restaurants to proceed with an optimized corporate infrastructure that enables them to reach their full potential."
 

A Look Back

TGI Fridays Inc.  is the latest brand to file voluntary Chapter 11 in 2024, including  Roti, Buca di Beppo, World of Beer, Melted Bar & Grill, Kuma's Corner and Tijuana Flats, to name a few. RL Investor Holdings LLC acquired the bankrupt Red Lobster restaurant chain in September.   

BurgerFi International, Inc., owner of the casual dining chain Anthony's Coal Fired Pizza & Wings and BurgerFi,  filed voluntary petitions for reorganization. On Oct. 31,  BurgerFi was sold out of bankruptcy to lender TREW Capital Management in a credit bid of $44 million.  TREW also purchased bankrupt Rubio's in August for $40 million. 

Griffin Hotel Management LLC, a hospitality company spanning multiple generations, has merged into Meyer Jabara Hotels. Effective immediately, Griffin will transition 14 assets to the MJH umbrella, and when combined with other deals currently in the 2024 pipeline, the hotel ownership and management company will reach 50 hotels by Q1 2025. Griffin executives James Kirkland and Jay Fishman are taking on new roles at Meyer Jabara Hotels. Kirkland, Griffin CEO, is assuming the role of Senior VP of Operations – Western Region and will oversee that region from Austin, Texas. Fishman, the majority owner of Griffin, will take on a business development role with MJH based out of the Chicago area.

“Griffin Hotel Management is a legacy organization with a great reputation, and we are honored to bring the DNA of this outstanding company – whose culture and values mirror our own – into Meyer Jabara Hotels,” said Justin Jabara, President of Meyer Jabara Hotels. “The Jabara, Meyer and Fishman families were early pioneers in hotel franchising, building some of the first Holiday Inns. Their passion for hospitality and longevity in the industry has given them unrivaled expertise that has stood the test of time.”

In addition to growing the size of its portfolio, this deal expands MJH’s footprint West, with properties thriving in Texas, Illinois, Arizona, New Mexico, Minnesota and Michigan. It also introduces Meyer Jabara Hotels to new capital partners successfully working with Griffin.

“Griffin is bringing a lot to the table, including some highly coveted top talent,” Jabara said.

Bringing Diverse Backgrounds to the Deal

Fishman brings diverse management expertise to MJH. Prior to founding Griffin in 2019, he served as CEO of Associated Hotels LLC. Prior to that he was Senior Vice President at VMS Realty Partners. During his tenure with VMS, Fishman handled acquisitions, management, and disposition of more than 40 hotels (including everything from mid-market assets to five-star resorts). His expertise includes the development and implementation of workout strategies and loan restructuring, hotel repositioning, negotiation and administration of management and franchise agreements, and portfolio management. Jay graduated from Indiana University with a B.S. in Accounting and is a CPA.

“Meyer Jabara Hotels is an organization deep in culture, talent, and management disciplines,” Fishman said. “They have a proven track record for delivering superior financial returns and maximizing long-term value, plus they bring a wealth of human resources, technology, purchasing, renovations, and project-management structure to our properties. Griffin hotels are in remarkable hands and the future has never looked brighter.”

Kirkland also brings an impressive background to MJH. Prior to joining Griffin, he held above-property sales and operations leadership roles working with both Marriott International and Hilton branded properties. He worked with Good Hospitality Services where he led the portfolio’s revenue generation and optimization efforts. He served in a leadership capacity overseeing both Marriott and Hilton branded assets, and also worked with Peachtree Hotel Group, serving in roles from Senior Regional Director, Full service and Lifestyle brands to Corporate Director, Business Strategy and Analytics. Throughout Kirkland’s hospitality career, he has successfully opened more than 30 premium-branded select service, extended stay and full-service properties across the United States. He attended Texas State University where he studied Business Administration with a concentration in management.

“I am thrilled with the merger between Griffin Hotel Management and Meyer Jabara Hotels,” Kirkland said. “As Senior Vice President – Western Region, I look forward to combining the talents of both organizations to capitalize on this exciting time of growth and innovation. Meyer Jabara’s commitment to exceptional hospitality and operational excellence aligns perfectly with our values at Griffin. I look forward to the growth and success of our properties in the Western region while working with our talented teams to deliver memorable experiences for our guests and driving continued success for our owners and partners.”

Meyer Jabara Hotels remains steadfast on organic, healthy growth. The company is focused on securing quality investments with ownership groups that are like minded and value relationships built on respect and communication. For more information on Meyer Jabara Hotels, visit www.mjhotels.com.

PM Hotel Group, a leading hospitality management company, and Sightline Hospitality, renowned for its experiential travel and innovative property management, are pleased to announce a strategic merger. This partnership marks a significant development in PM Hotel Group’s growth trajectory, specifically within PM Hotel Group’s lifestyle hotel division Modus by PM Hotel Group, complementing and deepening the organization’s distinct verticals of lifestyle, unconventional hospitality and experiential travel. The merger expands PM Hotel Group’s footprint across the United States, positioning the newly combined entity to deliver unparalleled management excellence and redefine luxury and lifestyle, driving enhanced value for property owners while offering guests a diverse range of premium accommodations and immersive experiences.

“Joining forces with Sightline Hospitality represents a significant milestone in PM Hotel Group's ongoing mission to elevate hospitality management standards,” said Joseph Bojanowski, President, PM Hotel Group. “Our companies share a vision for redefining guest experiences and a dedication to operational excellence. This partnership allows us to leverage our combined expertise, expanding our footprint from coast to coast with a diverse portfolio of distinctive properties. By uniting our people and strengths, we are well positioned to meet the evolving demands of today's discerning travelers, while setting new benchmarks for innovation in our industry.”

The merger with Sightline Hospitality significantly expands PM Hotel Group's portfolio, adding 22 properties that are either open or set to open within the coming months, largely as part of the organization’s lifestyle and unconventional hospitality division Modus by PM Hotel Group. This expansion includes a strong presence in the mountain regions, along the West Coast, and marks PM Hotel Group's debut in the Hawaiian Islands. The new properties not only align with PM Hotel Group’s ambitious growth strategy but also diversify its geographical reach into highly sought-after markets where travelers increasingly seek alternatives to traditional big box hotels. The merger strengthens the organization’s position in delivering unique, experience-focused hospitality, while simultaneously growing its presence in markets where proximity to nature and outdoor adventure is viewed as the new luxury.

In response to evolving consumer preferences, PM Hotel Group is now better equipped to cater to travelers who prioritize meaningful experiences over conventional luxuries. This strategic expansion introduces distinctive brands like RESET and evo Hotels to PM Hotel Group's diverse portfolio, deepening and strengthening their distinct verticals of lifestyle and experiential travel. These unique destinations cater to the growing demand for outdoor adventure, aligning perfectly with the increasing popularity of the national park system. The RESET properties offer immersive, nature-centric experiences, while evo Hotels combine urban comfort with easy access to outdoor activities, catering to a growing segment of travelers who view proximity to outdoor adventure as a premium offering in itself.

"At Sightline Hospitality, the core mission has always been to craft exceptional and immersive experiences for our guests. This merger with PM Hotel Group represents a strategic opportunity to combine our strengths and redefine the boundaries of hospitality excellence,” said Kirk Pederson, President, Sightline Hospitality. “We are excited to integrate our unique culture, our people and expertise with PM Hotel Group's established record of industry leadership. Together, we are poised to set new standards in guest satisfaction and property management."

Underscoring the significant cultural alignment between the two organizations, both PM Hotel Group and Sightline Hospitality share a commitment to innovation, efficiency, sustainability, and creating meaningful experiences for guests. The newly merged entity will continue to operate under the PM Hotel Group name, with plans to integrate Sightline Hospitality's innovative approaches and unique properties seamlessly into its operations. This strategic move is set to grow PM Hotel Group’s footprint within lifestyle and unconventional hospitality, with both organizations bringing their best practices and core values to the table. The new shared vision will drive a strategic approach to property management, guest services, and community engagement to maximize value for guests and owners alike.

Xina, a frontrunner in artificial intelligence-driven business solutions, today announced a strategic partnership with Fortis, a leader in secure payment processing solutions. This integration aims to combine the advanced capabilities of Xina’s software with Fortis’ versatile payment processing services, providing businesses with an efficient and secure method of managing their transactions.

Xina is known for its voice ordering technology that enhances interactions across businesses. Xina amplifies convenience, personalization, and accessibility by offering a solution where customers can simply speak and interact with Xina as they would with a real employee. This innovative technology optimizes operations, allowing businesses to reduce operational costs, increase efficiency, and significantly improve customer service.

Xina AI transforms the hospitality experience across hotels, resorts, restaurants, and wine services. In hotels and resorts, Xina enables guests to order room service and request housekeeping items simply by speaking. This intelligent voice assistant provides real-time updates for in-room dining, seamlessly integrates with hotel systems, and enhances guest convenience by handling inquiries about amenities, poolside dining, and more.

For restaurants, Xina AI acts as a voice ordering chatbot, streamlining the dining experience. Guests can place orders effortlessly through natural conversation, whether via drive-thru, phone call, or kiosk. Xina ensures accurate order processing, improving operational efficiency.

In the realm of wine sommelier services, Xina offers an AI-generated digital wine list that suggests perfect pairings with restaurant dishes. Utilizing machine learning, it provides personalized recommendations based on taste profiles and regional characteristics. The wine list includes ratings, tasting notes, and multi-lingual support, catering to a diverse clientele and enriching the overall dining experience. Xina AI embodies modern hospitality, ensuring seamless interactions and ultimate guest satisfaction.

“Today marks a significant milestone for Xina as we integrate our advanced AI solutions with Fortis’ robust payment processing options,” said Carl Sconnely, CEO of Xina. “This partnership reflects our commitment to providing businesses with holistic solutions that not only simplify processes but also drive growth and innovation. By integrating with Fortis, we are enhancing our platform’s capability to deliver seamless payment experiences.”

Fortis is a recognized leader in providing secure payment processing solutions. Their services include credit card processing, ACH transfers, and sophisticated fraud prevention tools, all designed to protect sensitive customer information and facilitate smooth transactions. The Fortis platform is built with an emphasis on security, reliability, and ease of use, allowing businesses to efficiently manage payments while complying with industry regulations.

With the integration of Xina with Fortis payment solutions, businesses will enjoy a host of advantages that include:

1. Streamlined Payment Automation: The integration of Xina allows users to automate various payment processes, such as invoicing, payment reminders, and reconciliation. This automation reduces manual workload and ensures timely payments, thus improving cash flow. 

2. Enhanced Customer Experience: Businesses can now elevate their customer engagement by leveraging AI insights from Xina to create personalized payment experiences. This tailored approach is designed to meet individual customer preferences, ultimately boosting satisfaction and fostering loyalty. 

3. Diverse Payment Methods: Fortis offers a variety of payment options, including credit cards, mobile payments, and specialized payment processing solutions tailored for different business needs. This flexibility allows companies to cater to a broader customer base and increase conversion rates. 

4. Robust Security Features: Security is paramount in payment processing, and Fortis’ platform offers enhanced security features, including encryption and tokenization technologies. This ensures that all transactions are conducted securely, helping businesses safeguard their sensitive information and reduce the risk of fraud. 

5. Data-Driven Insights: The partnership will allow businesses to leverage advanced data analytics capabilities from Xina.ai to understand payment trends and customer behavior better. These insights will enable more strategic marketing, personalized offerings, and operational improvements. 

6. Improved Reporting Capabilities: With integrated reporting features, businesses can access comprehensive dashboards that streamline financial analysis and performance metrics. They will be able to assess their payment processing efficiencies and make necessary adjustments to optimize performance.

Voice ordering AI offers significant advantages for restaurants, according to Carl Sconnely, CEO of Xina AI. This technology streamlines the ordering process, allowing for quick and accurate customer interactions. Key benefits include adapting to consumer behavior, as many prefer touchless experiences; reducing labor costs by automating order processing; ensuring consistent quality with a 94% accuracy rate; enhancing upselling opportunities by analyzing customer choices; and minimizing food waste, which is a major issue in the industry. Overall, voice AI fosters operational efficiency and enhances customer satisfaction, transforming restaurant services for a modern clientele.

Both Xina and Fortis are dedicated to continuous innovation in their respective fields, and this integration showcases their commitment to providing cutting-edge solutions that empower businesses. As the digital marketplace continues to evolve, this partnership positions both companies to better meet the demands of businesses looking for efficient, secure, and intelligent solutions.

PAR Technology announces the introduction of Punchh  Wallet, a fully customizable digital wallet designed to bridge the gap between loyalty and payments. Punchh Wallet redefines the checkout experience and how restaurants engage with their guests by seamlessly integrating payment orchestration with loyalty programs across every channel—both within and beyond the app.

Punchh Wallet goes beyond streamlining checkout—it transforms every transaction into a valuable opportunity for deeper engagement. Whether guests are using in-app features like saved payments and stored value or out-of-app options like digital passes and Apple Wallet®, Punchh Wallet simplifies each step while providing restaurants powerful insights into guest behavior. This holistic approach not only enhances the customer experience but also drives increased lifetime value and strategic revenue growth.

“Restaurants are always searching for that sweet spot where simplicity meets innovation,” said Savneet Singh, CEO of PAR Technology. “Punchh Wallet isn’t just about streamlining processes—it’s about solving complex technological challenges that have hindered restaurants. Since its launch earlier this year, it has already demonstrated remarkable success, for example, by helping brands achieve a 6.5x lift in customer frequency. This is just the beginning, and we’re excited for what’s next.”

For customers granted early access to Punchh Wallet features, initial results have been remarkable, including:

• 163% increase in customer lifetime value
• 70% increase in sign-ups from customers using Apple Pay®
• 6.5x lift in customer frequency

At a time when nearly 80% of Gen Z consumers use digital wallets, and experts predict digital wallets will replace plastic cards by 2030, the demand for seamless, integrated technology is more critical than ever. Punchh Wallet meets this need by delivering a unified, streamlined loyalty and checkout experience that prepares restaurants for future success while offering immediate, tangible benefits.

Key Benefits of Punchh Wallet:

• Saved Payments – No more juggling between physical cards and the app. Now guests can securely save credit cards in the app and at checkout, simply scan the QR code to pay, earn, and redeem rewards – all at once.
• Stored Value: Forget the hassle of physical gift cards - load and auto-reload stored value reducing time at the POS and increasing convenience with the ability to pay with one tap or scan at checkout.
• Subscriptions: Offer loyal guests exclusive food passes at preferred pricing, all while creating a recurring revenue stream for your brand.
• Apple Wallet Loyalty & Digital Passes: No app? No problem. Guests can join, participate in your loyalty program, and pay directly through Apple Wallet® and Google Wallet®, eliminating the need for traditional apps.

“Punchh Wallet makes it easy for Apple Pay users to join our loyalty program, expanding our reach and engagement beyond the app. The seamless one-tap experience for collecting points, redeeming rewards, and paying has simplified the checkout process for our guests, leading to stronger customer engagement and loyalty,” Lauren Traylor, Director of Marketing at Salsarita’s Fresh Mexican Grill.

Simplify Operations

Punchh Wallet aligns with PAR Technology’s mission to simplify restaurant operations and enhance customer engagement through connected, future-ready solutions. By unifying loyalty, payments, and guest data under one roof, Punchh Wallet overcomes the technological challenges that have deterred many restaurants from adopting integrated systems. This streamlined orchestration reduces the need for multiple vendors, driving operational efficiency and boosting revenue for restaurants.

“Punchh Wallet is helping us increase engagement in our app and provides our guests the added convenience at checkout to effortlessly pay and reap the rewards of our Healthy Rewards™ loyalty program—all in one click,” said Shannon Murphy, Senior Director of Digital Marketing & Loyalty at Smoothie King. “The ability to segment and incentivize users to utilize both saved payments and stored value in one execution is an incredibly compelling proposition for us as we continue to focus on digital growth.”

For more information, please visit partech.com.