Valvoline Inc. announced impressive financial results for its fourth quarter and fiscal year 2024, marking its 18th consecutive year of system-wide same-store sales growth. The company achieved significant growth in sales, income, and EBITDA, driven by strong same-store sales and network expansion. Valvoline also outlined its plans for continued growth in fiscal year 2025, including further network expansion through franchising.
Bridge, a digital platform connecting developers with debt capital providers, has introduced a new in-house lending program specifically designed to support construction and renovation projects for franchised hotels. This initiative offers up to $50 million in loans to experienced sponsors, addressing the growing need for development capital in the hospitality sector.
China’s bubble tea giant Nayuki has reported its first-ever half-year loss, highlighting the challenges in a fiercely competitive market and a slowing economy. The company’s revenue per store has plummeted, and its margins have been squeezed by rising costs. Meanwhile, Nayuki’s rapid expansion through franchising, while helping its store count, has not been enough to offset the shrinking consumer spending. This has also affected investor sentiment, with Nayuki’s stock price lagging behind its franchising-focused competitors, like ChaPanda.
Red Roof, an award-winning leader in the lodging industry, has appointed hospitality management veteran as President and announced the promotion of to Chief Operating Officer. With over two decades of senior management experience, Gharib brings a proven track record of creating award-winning development, strategic planning, and franchise operations programs. As Red Roof accelerates its growth towards 700 hotels across the U.S., Gharib will focus on expanding franchise relationships while Malouf will oversee day-to-day operations, capitalizing on Red Roof’s renowned culture of service and execution. With Gharib’s leadership and Malouf’s support, Red Roof aims to drive transformative growth and maintain its position as the preferred franchise partner for hotel owners.
