The Thai Thing Restaurant in Los Angeles,CA,United States
The Thai Thing: Experience Authentic Thai Cuisine in the Heart of Los Angeles, CA
Price Level: $$ - $$$
The Thai Thing is a must-visit restaurant for all food enthusiasts. Located in the heart of the city, this restaurant offers an authentic Thai dining experience like no other. From the moment you step inside, you are greeted with warm hospitality and a cozy ambiance. The menu is filled with a wide variety of traditional Thai dishes, prepared using the freshest ingredients and traditional cooking techniques. Whether you are a fan of spicy curries, flavorful stir-fries, or mouthwatering noodles, The Thai Thing has something to satisfy every palate. Don't forget to try their signature dish, Pad Thai, which is a crowd favorite. With its impeccable service, delicious food, and inviting atmosphere, The Thai Thing is the perfect place to indulge in a culinary adventure.
Cuisines of The Thai Thing in Los Angeles,CA,United States
The Thai Thing Restaurant is a culinary gem that specializes in serving delectable Asian and Thai cuisines. With a menu that is carefully curated to showcase the authentic flavors of Thailand, this restaurant offers a delightful dining experience for all food enthusiasts. From the aromatic and spicy Tom Yum soup to the flavorful Pad Thai noodles, each dish is prepared with precision and attention to detail. The Thai Thing Restaurant takes pride in using only the freshest ingredients, ensuring that every bite is bursting with authentic Asian and Thai flavors. Whether you are a fan of traditional Thai curries or crave the bold flavors of Asian street food, this restaurant has something to satisfy every palate. So, if you are looking to embark on a culinary journey through the vibrant flavors of Asia, The Thai Thing Restaurant is the perfect destination to indulge in a truly unforgettable dining experience.
Features of The Thai Thing in Los Angeles,CA,United States
Table Service Seating
Menu of The Thai Thing in Los Angeles,CA,United States
Location of The Thai Thing in Los Angeles,CA,United States
Contact of The Thai Thing in Los Angeles,CA,United States
+1 310-500-6794
6015 W 3rd St, Los Angeles, CA 90036-3141
thethaithing.eatery@gmail.com
http://thethaithing.com
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Salvation Army Kroc Center Gulf Coast Welcome to the Salvation Army Kroc Center Gulf Coast! We've got it all - a state-of-the-art facility in Biloxi, Mississippi, offering activities for everyone.From our indoor pool with a two-story water slide and lazy river, to our full-sized gymnasium and dance studios, we've got you covered.But it's not just about fun and fitness here. 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Here are our current opening hours:Monday to Friday: 6:00 am to 8:00 pmSaturday: 7:00 am to 6:00 pmSunday: 1:00 pm to 6:00 pmWe believe in creating a welcoming environment where you can freely pursue your passions and interests. Our opening hours allow you to start your day with an early morning workout or unwind after a long day with a late evening swim. On weekends, you can bring your family and make lasting memories together.By offering extended hours on weekends, we ensure that you have enough time to fully enjoy our facilities. Whether you want to take a dip in our indoor pool with a two-story water slide, relax in our lazy river and zero-entry pool, or challenge yourself in our full-sized gymnasium, our doors are open to you.Visit us during our opening hours and experience the freedom to explore, learn, and grow at the Salvation Army Kroc Center Gulf Coast.Ticket PricesLet's talk about the ticket prices at the Salvation Army Kroc Center Gulf Coast. The center offers various ticket options for visitors to enjoy their facilities and activities. Here is a breakdown of the ticket prices:Ticket TypePrice--Swim Pass for Adults$10.00Swim Pass for Kids (2 and under)FreePrivate Swimming Lesson (for non-members)$180.00For adults looking to take a refreshing swim, the swim pass costs $10.00. Children aged 2 and under can enjoy the pool for free. Additionally, the center offers private swimming lessons for non-members at a cost of $180.00.Now that we have discussed the ticket prices, let's move on to expert tips on how to make the most of your visit to the Salvation Army Kroc Center Gulf Coast. By staying updated on their social media platforms, you can discover programs and events that align with your interests. Don't forget to browse their event calendar for fitness classes and art workshops. During the holiday season, the center hosts festive events, providing an opportunity to support their mission. Engaging in community service opportunities and participating in their various programs will give you the chance to learn about different people, activities, and arts.Expert TipsTo make the most of your visit to the Salvation Army Kroc Center Gulf Coast, here are five expert tips to enhance your experience:Stay updated on their socials to discover programs and events that align with your interests. By following them on platforms like Facebook, Instagram, and Twitter, you'll be the first to know about exciting opportunities to engage with the community and explore new activities.Browse their event calendar for fitness classes and art workshops. The Kroc Center Gulf Coast offers a variety of classes and workshops that cater to different interests and skill levels. Whether you're looking to get fit, learn a new dance style, or unleash your creativity, their calendar will have something for you.Stop by during the holiday season for festive events and support their mission. The Kroc Center Gulf Coast goes all out to celebrate the holidays, with special events, decorations, and activities for the whole family. It's a great way to get into the spirit of the season while also supporting the Salvation Army's mission.Learn about various people, activities, and arts through their programs. The Kroc Center Gulf Coast is committed to promoting diversity and inclusion. By participating in their programs, you'll have the opportunity to learn about different cultures, engage with a wide range of activities, and explore various art forms.Engage in community service opportunities. The Kroc Center Gulf Coast offers numerous volunteer opportunities that allow you to give back to the community while also making a difference in the lives of others. From food drives to mentorship programs, there are plenty of ways to get involved and contribute to a greater cause.By following these expert tips, you can maximize your experience at the Salvation Army Kroc Center Gulf Coast and make the most of everything they have to offer.Next, let's move on to the contact details of the Kroc Center Gulf Coast.Contact DetailsThe contact details for the Salvation Army Kroc Center Gulf Coast can be found below. If you have any questions or need more information about our facilities, activities, or programs, please don't hesitate to reach out to us.Address: 575 Division St, Biloxi, MS 39530Phone: 228-207-1218Website: Visit our website at [website URL]Social Media: Connect with us on various social media platforms to stay updated on our programs, events, and community initiatives.We are committed to providing a safe and welcoming environment for individuals of all ages and backgrounds. Our center offers a wide range of facilities, including an indoor pool with a two-story water slide, a lazy river, and a zero-entry pool. We also have a full-sized gymnasium, state-of-the-art weight and exercise rooms, as well as dance and aerobic studios.Our opening hours are as follows: Monday to Friday from 6:00 am to 8:00 pm, Saturday from 7:00 am to 6:00 pm, and Sunday from 1:00 pm to 6:00 pm.For ticket prices, our swim pass for adults is $10.00, while children aged 2 and under can enjoy free admission. Private swimming lessons for non-members are also available for $180.00.We encourage you to stay updated on our social media platforms and browse our event calendar for fitness classes, art workshops, and other exciting programs. Additionally, during the holiday season, we host festive events and opportunities to support our mission. Engage in community service activities to make a positive impact in our community.Please feel free to contact us with any inquiries or to learn more about our center.Frequently Asked QuestionsWhat Is the Age Limit for Using the Indoor Pool and Water Slide?The age limit for using the indoor pool and water slide isn't specified.Are There Any Discounts Available for Senior Citizens or Military Personnel?Yes, there are discounts available for senior citizens and military personnel.These discounts are typically offered by various businesses and organizations as a way to show appreciation for the service and contributions of these individuals.Senior citizen discounts are usually available to individuals who are 55 years of age or older. These discounts can range from a certain percentage off of the total bill to special promotions and offers.Military discounts are available to active duty service members, veterans, and sometimes even their family members. 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Whether you're looking to have fun in our amazing pools, stay fit in our state-of-the-art gym, or engage in community events, there's something for everyone here.Join us and embark on a journey of health, wellness, and connection. Come experience the joy and excitement that awaits you at the Kroc Center.

The kitchen is on fire. Welcome to the final part of the Vapiano story where the tables are turning. In the first two episodes we followed Mark Korzilius' journey from setbacks to founding Vapiano, a groundbreaking restaurant concept, highlighting its fresh ingredients, dynamic atmosphere, and data-driven operations that drove rapid success. While achieving initial profitability and garnering attention from industry giants like McDonald's, Vapiano's global expansion has led to stellar revenue growth. However, it has also resulted in the emergence of numerous side projects (or distractions), operational challenges, increased costs, significant investments, and a notable accumulation of debt. This underscores the prioritization of top-line growth over profitable growth. We will continue on this thread and see how the story ends, but I would encourage you to read part one and two for better context. Vapiano P1: Italian Food Made in Germany (substack.com). Let's dig in.
Before Going Public
We are now in 2015 and the year is a disaster for Vapiano's PR department. Employee time stamps are being manipulated, endless overtime for employees and high turnover in managerial roles are reported; mice in the kitchen and even rotten food allegedly found.
The company is confronted with allegations of exceeding working hours among trainees in an article published by Welt am Sonntag, while the same outlet accuses Vapiano of manipulating punch times. The auditing firm PwC is commissioned to investigate the allegations and finds that there is no systematic approach but rather misconduct by individual employees, a mistake that’s being corrected. Internal however, investigations into stamp times are carried out regularly now and beyond its obvious reputational impact, this sucks up valuable management time and attention.
In the summer of 2015 CEO, co-founder and investor Gregor Gerlach, who has been running the group since 2011 is stepping down and Jochen Halfmann is taking over. A new Vapiano People Program with an App is being developed with the aim to better interact with customers that will incorporate innovate features such as mobile pay. The German website sees a launch of new magazine to further promote the brand and there is now a full inhouse blogger and Instagram team being installed. In October the company buys seven restaurants from original co-founder, former co-investor and ex-president previously responsible for internation expansion Kent Hahne (2x Bonn, 3x Cologne, 1x Koblenz and one in Cologne that’s under construction). This package of Vapiano restaurants is very successful and generates net sales of more than 20 million euros in 2014. Hahne opened his first Vapiano restaurant in Cologne in August 2006 and in 2015 with his company apeiron AG, Hahne operates six L'Osteria franchise restaurants, a direct Vapiano competitor, and two self-owned restaurants GinYuu.
Then in November of 2015, the next public relations bomb goes off with allegations regarding the company's quality standards. The company immediately investigates the issue through internal and external specialists but finds no evidence of any quality issues. Nevertheless, knowing that the group is now being closely watched, the company’s already in place hygiene standards are being reinforced. Additional audits and inspections are performed nationally. Further, all Vapianos worldwide are being audited twice by the partners SGS Institut Fresenius and SAI Global. Auditing software is purchased to simplify the implementation of the audits and the resulting measures. Apart from the external examinations, there is a food sampling plan in place being performed continuously. Again, all of this sucks up costs, management time and attention. With all these tumultuous developments the company’s growth engine is undeterred. Revenue grows by a whopping 50 million euros to 202 million euros, an increase of 33%. Impressive. While average spent per customer increases in all countries, the number of customers per day in Germany decreases by 3.3% partially due to the negative press towards the end of the year. Five own, four JV and 19 new franchise restaurants are added that year to the group, the total number of own managed restaurants grows to 51, there are 31 JVs and 84 franchises which bringing the total to 166 Vapiano restaurants. Global restaurant sales are now above 400 million euros.
But while revenue grows by an astronomical 50 million euros, operating profits, alarmingly, shrink again. Gross margins are staying perfectly healthy above 75% but operating costs keep growing disproportionately fast. The Company’s outstanding debt jumps by almost 30 million, close to 85 million euros by the end of the year. With operating profits at 9.5 million euros, alarm bells should be going off right now.
In Q4 of 2015, new CEO Jochen Halfmann introduces Strategy 2020. The new strategy includes five essential points. One, profitable growth in the newly defined core markets of Germany and Austria as well as in the UK, Netherlands, France and USA. Two, operational excellence through strict “best practice” management. Three, further development and digitalization of the concept considering guest feedback. Four, greater focus on long-term employee retention and five, building a modern and sustainable IT landscape. Sound’s good on paper but let’s see how things pan out.
Vapiano's investments (capital expenditures) that year are primarily directed towards new restaurant openings, renovations of existing establishments, and share acquisitions in other Vapiano restaurants from franchisees or JV partners. A significant portion of funds is allocated to the digitalization of the guest experience, including the development of a new app scheduled for market release in 2016 and the implementation of a time recording system across all group restaurants. The world's first standalone Vapiano restaurant with a delivery service that year is built in Fürth, Germany. The company keeps expanding its presence in both inner-city locations and international markets, such as Shanghai, China.
To finance all of this, the group has its own operating cash flow which comes in at 18 million while capital expenditures are 26 million euros plus 14 million for acquisitions. The funding gab is filled with 26 million euros of new debt and a seven-million-euro equity raise. At that end of the year and after the equity raise Gregor Gerlach (through his AP Leipzig GmbH & Co. KG entity) holds 30.1%, Hans-Joachim and Gisa Sander through their Exchange Bio GmbH hold 25.5% and the Tchibo heirs, Herz through their Mayfair Beteiligungsfonds II GmbH & Co. KG hold 44,4%.
But for the first time the restaurant’s concept that was so successful to date is being questioned. Some customers are starting to mislike the operational flow of the concept itself. If you want pasta, you must queue for pasta. If you want pizza you stand in a different queue. A small side salad, yet another queue. "You spend more time carrying trays than an actress in Berlin-Mitte. The audience in the pasta limbo can only consist of people who have worked for an insurance company for a long time and, like Stockholm syndrome, they can no longer get away from the industrial canteen feeling," writes TV host Beisenherz provocatively. While overly harsh in his assessment he's not entirely wrong judging by customers venting their frustrations in forums and social media channels. It isn’t uncommon for those who ordered pizza to have already finished eating while there is little movement in the pasta queue. Long term that doesn't go down well, QSRs competitors like L’Osteria are handling this process differently, with much success.
https://preview.redd.it/6cas01oked0d1.png?width=1200&format=png&auto=webp&s=2da6e0b4bc0e07dbee558de412feb414cd598d4a

Tipping Point

Where are now in the year 2016 and things start to deteriorate visibility. Perhaps not for the leman’s eye but any business minded observer can see that there are problems under the hood. Yes, revenue grows yet another whopping 50 million to almost 250 million euros but half of that growth, comes from acquisitions of restaurants that the group didn’t already own 100%, which is now being fully consolidated within the group’s accounts. Here is a concrete example. In the past, Vapiano SE, the group’s top holding company held an indirect 50% stake in a French subgroup via the subsidiary VAP Restaurants SA, based in Luxembourg, and included this as an associated company in the Vapiano SE consolidated financial statements using the equity method. Due to the acquisition of additional shares in September of 2016, Vapiano SE's indirect share in the French subgroup increased to 75%. This means that Vapiano SE takes control of the French subgroup, which is therefore included in the group’s financial statements as part of the full consolidation. The revenue from the acquired subsidiary now recorded in the consolidated income statement amounts to 12.8 million euros. While that’s great for the top line, the loss of the fully consolidated entity equates to 0.2 million euros. Yes, you are buying revenue, but there are losses attached to them, not profits. A similar case is the Swedish entity that runs eight restaurants with revenue of 11.5 million euros but has losses of 235 thousand euros. So much for Strategy 2020 and “profitable” growth.
That year the group’s operating profits are absolutely tanking, halving to 3.5 million euros. Operating profits are now a mere 1,4% of revenue. Remember original founder Mark Korzilius who talked about operating margins of 25% to 28% at the restaurant level? Yes, there are overhead costs for the organization that sits above the chain of restaurants, but operating margins that low indicates a course correction is needed. What’s telling is that in the annual report, in the management discussion section, the company starts talking about EBITDA as a proxy measure of profitability, rather than operating profit or net income. This wasn’t the case in the years before. Is this window dressing for an upcoming IPO? EBITDA is short for earnings before interest, tax, depreciation, and amortization. How can you measure profitability of a restaurant chain that absolutely and unequivocally needs capital investment to maintain its restaurant operations, the very source of cash generation, by simply excluding this maintenance charge (depreciation in the income statement)? Vapiano’s own annual report talks about the fact that existing restaurants must be rejuvenated from time to time and that new interior designs have to be implemented every few years. These things wear and tear, they go out of style, kitchen equipment breaks and needs replacement. This business absolutely needs maintenance capital expenditure, why anyone talks of profits before these maintenance costs is beyond me. Fun fact: in the previous annual report EBITDA is mentioned seven times, mostly around restaurant acquisitions and financing, not however as a profit indication for the group. In the new annual report, EBITDA is mentioned 28 times. Maybe it’s just me but belated Charlie Munger liked to call EBITDA: bullsh*t earnings. When in doubt I stick with Charlie. Interestingly, EBITDA for Vapiano keeps growing while operating and net profits keep falling.
Operating cashflow for the group that year is about 21 million euros, but capital expenditure is 30 million and acquisitions for subsidiaries another 20 million. To finance these expenditures another 28 million euros of debt and 16 million of equity is raised. Net debt rises above 130 million euro. The operating cashflow of the group before any capital expenditures is 21 million euros. I am not sure free cash flow would be significantly positive after maintenance capex is paid out; it’s not broken out so we can’t be sure. Granted, I am not on the ground during this time, and I am not in the board room, I am simply reading what’s in front of me, but to me this is starting to look like a distressed situation. Regardless, the following year the company goes public.

IPO

Where are now in the year 2017 and its Vapiano’s first year as public company. The company’s annual report reads the following “Sales revenue, like-for-like growth (LfL) and the earnings figures EBITDA and adjusted EBITDA are used as the most important financial performance indicators for controlling operational business activities.” The very same report however also says: “The majority of the group's investments regularly go towards opening new restaurant locations and modernizing existing restaurants. The latter are differentiated into regular replacement investments that occur during ongoing operations (Maintenance CAPEX) and fundamental investments in the renovation of a restaurant (Remodeling CAPEX). On average, a restaurant remodeling takes place nine years after opening.” It says it right there in their own report; every nine years a remodeling is taking place. Remodeling and updating is not cost free, so why exclude depreciation charges which reflect capital expenditures? I understand that perhaps you would want to strip out one-off opening costs, that’s fine and fair, but don’t go overboard.
The number of restaurants increases by 26 (previous year: 13) to a total of 205. The increase consists of 27 new openings and one closure. Group revenue grows to an astonishing 325 million euros but here comes the shocker, operating profits turn negative to 25 million. Fine, strip out foreign exchange losses of 3 million, IPO costs of 5.8 million and new opening costs of 6.1 million and you still have 10 million euros of operational losses. All the while the debt load of almost 130 million hasn’t materially changed, so those operating losses are before a six-million-euro interest payment. 184 million euros are raised through the IPO of which 85 million go to the company. This money is earmarked for further expansion as the group has ambitions to almost double the footprint to 330 restaurants by the end of 2020. The company is currently not profitable on an operating basis, and still wants to expand aggressively? I don’t get it. The remaining 100 million euros of the IPO money raised is distributed to co-founder Gregor Gerlach and Wella heirs Hans-Joachim and Gisa Sander. The family office of the former Tchibo owners Günter and Daniela Herz with a 44% stake, don’t sell a single share. After the IPO, 32% of all the company’s shares are now in free float.
One year later, in 2018, things get even worse. Revenue grows to 371 million, but operating losses mount to 85 million euros, that’s before interest expenses of 9 million. Even the beloved EBITDA figure turns negative, meaning the operating business before any expansionary or even maintenance capital expenditures is loss making. All regions are experiencing significant deterioration in their earnings profiles. Like for like sales are down 1% across the board. That’s revenue, not profitability. The question naturally arises: is the Group approaching its natural saturation point here or this operational by nature? The operating cash flow is now 9 million while financing cost are close to 7 million. That leaves 2 million for maintenance capital for 74 own restaurants and 76 joint ventures ones. Describing this as financially tight, would be an understatement.
Things are not looking good at this point. Yet the company still grows restaurants by 26 new sites. 64 million euros are spent on acquisitions, new openings, and maintenance costs, financed through a 20 million-euro equity raise and 72 million of new debt. The Company now has net debt outstanding of over 160 million euros. After the equity raise and by the end of the year 2018, Mayfair owns 47.4%, VAP Leipzig, Gregor Gerlach’s entity owns 18.9% and the Sander couple own 15.5% of the company. Yes, the Sanders and Gerlach may have taken 100 million euros off the table, but they still have substantial skin in the game. Plus, Mayfair hasn’t sold a single share and instead injects more money into the company through the equity round. The stock has now fallen from its IPO price of 23 euros per share to under 6 euros by the end of 2018. Something must be done here. And indeed, there is pivot in strategy and a hard push for change. At last, the management team abandons its aggressive growth plan and curtails new openings significantly. Additionally, the team wants to run a thorough analysis of weak locations to then either discontinue or sell sites. In Europe, the operating focus will be put on corporate restaurants and joint ventures in major cities to ensure the ideal size and location to match the respective demographic target group. Outside of Europe, the franchising business is being expanded and at the same time a consolidation of the existing corporate and joint venture markets is being sought. All future investments will be reviewed to achieve higher rates of returns on new openings. Investments are also being made in the renovation of older restaurants. The goal in the future is to also open smaller formats, like Mini-Vapianos (less than 400 square meters) or Freestander at prominent transportation hubs outside city centers (currently in Fürth and Toulouse) to cater to individual location requirements, and to enter new partnerships. I am not sure why management hasn’t stopped all expansion altogether, bringing the ship in order first, getting profitable, clean up, all hands-on deck before considering any further expansions whatsoever. But again, it’s easy to comment from the sidelines; maybe they saw white spaces that would be covered by competing concepts if they weren’t moving fast and aggressively enough. Although pushing internationally means competing with local players such as Jamie's Italian, Prezzo, Pizza Express, Wagamama, Nando's and many more which brings in its own dynamic.
Management also aims to enhance guest satisfaction. This involves refining operational processes, reorganizing the support center, and refocusing on the core offering: providing fresh and high-quality Italian food at affordable prices for a broad audience. The group also aims to reduce waiting times, especially during lunch, while also improving the evening atmosphere. There is even what I would call an evolution, away from Vapiano’s original concept, reorientating the customer journey. The ordering flow is being changed, offering guests synchronized preparations of all dishes while eliminating wait times at the cooking stations. The open show kitchen remains, staying true to original mantra of freshness and transparency but now guests can choose their preferred method of ordering through a mobile app, using a digital order point (kiosk), or by personally placing an order with a waiter. Guests can still freely choose their table and are then informed about the complete preparation of their order through a pager or their smartphone. This is a substantial deviation from the original concept, but a needed one. The group is also exploring and implementing the expansion of take-away and home delivery services but only at suitable locations, not universally across new openings. I am not sure why home delivery is even a priority here; it adds operational complexity. It’s better to clean up shop first and get back to the basics before adding new complexities. To be fair management does try to simplify. There are 49 different permanent dishes on the menu and additional 10 seasonal ones. Customers can choose from eleven different types of pasta. There is simply too much choice, and it makes orders complicated. The company announced to slim the menu down to its most popular and typical Vapiano dishes. There’s no need for an Asian salad at an Italian restaurant. "We have to go back to the roots, i.e. classic, honest Italian cuisine" says COO Everke. Regardless, in November of 2018, the supervisory board pulls the plug on CEO Jochen Halfmann and replaces him with Cornelius Everke. Everke himself has just become COO five months ago. Since 2017 he was responsible for international expansion. From 2011 to 2017 that role was filled by Mario Bauer – put a pin in that name, he’ll play a key role in the groups fate later. Then nine months later, in the middle of 2019, Cornelius Everke quits. He essentially concludes that his skillset and experience in the areas of internation expansion is no longer needed in the foreseeable future. To put it differently: Vapiano has moved from a growth story and has become a restructuring case, and other skills are required for that job. In June of 2019 Everke says the following “(we’ve) made a bit of a mistake when it came to foreign expansion”. No sh#t. Vapiano postpones the presentation of the 2018 annual financial statements three times in the spring of 2019, citing negotiations over an urgently needed loan of 30 million euros. It’s not until the end of May that a binding loan commitment comes through from the financing banks and major shareholders.
We are now in August of 2019 and the corona pandemic is just around the corner. Supervisory board chief Vanessa Hall takes over as interim-CEO and things are unravelling. Visitor numbers are declining; originally, it was planned to sell the US business but halfway through the year the buyer cannot come up with the money. But not all restaurants are performing poorly. The group's poor figures contrast starkly as an example with the experiences of the Swiss-German franchisee, who runs six restaurants. The Sodano family in Switzerland pays Vapiano a royalty of 6% of sales for the use of the brand. Enrico Sodano explains in an interview that they operate largely autonomously from the licensor. If an “accident” were to occur, he could immediately replace the Vapiano sign with Sodano, he says. The family concluded the rents and contracts with employees and suppliers independently. The Sodano family have six locations in Bern, Basel and Zurich, around one million guests every year and 350 employees. Things are going well on the ground. The delivery service they’ve built is offering them a second income stream. Expansion into Winterthur, St. Gallen and Lucerne are being planned; small locations with 150 to 250 square meters and an attached delivery service. Originally, Vapiano restaurants used to be huge but for such a large restaurant to be profitable, 800 to 1,000 guests per day are needed. That’s possible in medium-sized cities, but not in smaller towns which is why the Vapiano group now also supports smaller formats. Back to our corporate drama. The 2019 annual report would be the last report the group files. By the end 2019 the outstanding debt of the company is at an astronomical 450 million euros. Revenue has grown by another 7%, produced by four net new openings through two JVs and two franchise restaurants but operating losses come in at 317 million euros. That sound like an absolute shocker at first but depreciation and amortization charges are 345 million, so that operating cash flow is actually positive but unfortunately capital expenditures and interest payments are so large that they are eating up all of the company’s operating cash flow. Then in the beginning of 2020 Corona hits with full force and the world shuts down. As a result of the measures to prevent further spreading of the virus, the group is forced to cease all global business operations (except in Sweden). While all these shutdowns are happening, the group is the middle of negotiating with its lending banks and main shareholders. There are additional financing needs for restructuring measures, even without a pandemic happening in the background. The situation is so dire that the company starts pleading to the German government to roll out the package of financial help more quickly. Unfortunately, it’s to no end. The rapid closure of restaurants and the resulting lack of operating cash inflows in conjunction with the additional financing requirements, lead to the company’s final knockout punch. In April of 2020, the Vapiano group officially files for insolvency proceedings. The end of an era.

New Beginnings

Because of the pandemic, the majority of the group's subsidiaries in Austria, the Netherlands, Denmark, the United States, Sweden, and China also file for insolvency or seek liquidation. The US business never gets sold in the end and is wound down. In the summer of 2020, significant group divestments occur, including the sale of 75% shares in the group's French subsidiaries, shares in franchisor companies, Australian subsidiaries, German subsidiaries, associated companies, self-managed restaurants in Germany, and insolvency-related sales in the Netherlands, Great Britain, and Sweden. The buyer of the Vapiano brand and one of these bundles of Vapiano restaurants is company named Love & Food Restaurant Holding, a consortium led by Mario C. Bauer – a name I told you to remember. Bauer was a former Vapiano board member and led the national and international expansion, opening 200 sites in 33 countries from 2011 to 2017 until he was succeeded by Cornelius Everke. Bauer didn’t feel comfortable with the IPO at the time but clearly has a lot of managerial and entrepreneurial talent.
The buyer consortium is an absolute A-Team comprised of European QSR top league hitters, including the founder of the Pret A Manger chain Sinclair Beecham; Henry McGovern, the founder and Ex-CEO of the giant international restaurant and foodservice operator AmRest; the Van der Valk Family that runs hotels and Vapiano restaurants in the Netherlands, and co-founder and ex-CEO Gregor Gerlach. The acquisition value is 15 million euros and entails 30 Vapiano restaurants in Germany, albeit that’s just the purchase price which comes on top of any capital investment needed to refresh and return the sites to its former glory. Nevertheless, just as a thought experiment, if you can get each site to 2 million euros of revenue and 400,000 euros in operating profit on average, which wouldn’t be an overly aggressively assumption given the company’s history, you’ve got yourself a package that can deliver restaurant-level operating profits of 12 million euros or more. It’s not disclosed how much capex was needed to refresh the operations, just that fact that the overall investment plus purchase price was a middle double-digit million-euro figure. Stil, it probably was a decent purchase. The same consortium buys Vapiano’s French business for 25 million euros just two weeks prior. After the transaction concludes, the master franchise is given to Delf Neumann and his Gastro & Soul GmbH. Neumann is an experienced operator, and he is ambitious to revitalise the brand with new services and products. For example, instead of pizza, the restaurants will be serving pinsa - a flatbread made from sourdough, wheat and rice flour, topped similarly to a pizza. It targets a more health-oriented customer base looking for a less calory heavy option. The menu overall is expanded by including a variety of vegan and vegetarian dishes.
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Today Neumann’s Gastro & Soul GmbH operates 18 Vapianos on its own account and has 29 franchise sites, amongst other brands. By the year 2021, Vapiano operates 191 restaurants in 34 countries. This is around 50 fewer sites than before the bankruptcy. The number of branches is particularly thinned out in Germany – from 80 to 55. Nevertheless, Vapiano's home country remains by far the largest market, followed by France with 35 restaurants and Austria with 15 locations. “We have shrunk ourselves to health,” says Bauer in the aftermath and there is no further shrinking planned. Quite the opposite, the smell of expansion is in the air again – pun intended. Not as aggressively as before and with a new menu and ordering process.
Overall, the team around Bauer is filled with industry experts with knowledge and networks gained over decades who have a great track record, a long-term view, and the staying power to let Vapiano breath and finds its way back to success. The pressure of being a public company with all the associated quarterly, half-year and yearly disincentives have been removed. The menu is changed and extended with new types of pasta and sauces with significantly more vegetarian and vegan dishes available. Guests can order with restaurant staff, at terminals or on their phones and there are barcodes attached to the tables identify the respective seat. The food is brought to your table, all at the same time if you are in a group, no more annoyances with waiting in line. There is a plan for smaller, 350 square meter locations, with half the number of guests and significantly fewer staff and less set-up costs required to make the economics work. Locations that capitalize on remote work and increased demand for local lunch options, higher population density with shorter delivery routes and therefore cost-effective in house delivery services are targeted. And Bauer is testing the concept of ghost kitchens, which operate without a dining room or service staff, focusing solely on preparing food for delivery services, which for obvious reasons have a very different operational set up and footprint. Original founder Mark Korzilius however is not entirely convinced. He is not a fan of the pinsa for instance and he considers Vapiano's pizza as its cash cow, flagship product and believes that the core Vapiano proposition of Pizza, Pasta, Bar that has given the company its original success is being diluted. He instead admires the competitor L'Osteria, saying they’ve done a better job by focusing on Italian classics, especially the impressively large pizzas that sticks out beyond the plate is leaving every customer in awe. The guys who run L’Osteria are the same guys who have built Vapiano with him in the first place. Bauer on the other hand, like a true business leader, remains undeterred, stating that he is frequently asked whether Vapiano's restart was bold or foolish. He believes in entrepreneurship, franchising, in his experienced fellow partners and importantly the Vapiano concept. By the year 2024 you can find over 140 Vapiano branded restaurant in 27 countries across the globe, including locations far away from its birthplace like Australia, USA, Columbia, Chile, Bahrain, and Saudi Arabia. And why not? Italian food is, and will remain to be, incredibly popular. Vapiano offers fresh and tasty food at affordable prices in a good atmosphere. This combination of attributes should attract a lot of customers. It certainly has in the past.
For more stories: WIP Thomas Weitzendoerfer Substack

In a groundbreaking announcement, DAMAC Properties, one of Dubai's leading developers, has unveiled its latest project set to redefine luxury living in the bustling city: Riverside. Situated in the heart of Dubai, this boutique community promises a lifestyle of opulence and distinction, offering two distinct living options - The Green Vein and The Water Vein in the Riverside community.
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Strategically located just minutes away from key landmarks such as DAMAC Mall, the metro, and the airport, Riverside offers unparalleled convenience without compromising on tranquility. With its prime location, residents will enjoy easy access to Dubai's vibrant city life while being nestled in a peaceful oasis.
The Water Vein is a haven for those seeking an aquatic lifestyle, boasting a plethora of amenities designed to indulge the senses. Residents can transport themselves to the charm of Portofino at the waterfront restaurant, or enjoy unique dining experiences at Island Restaurant surrounded by breathtaking natural vistas. Cutting-edge aquatic fitness spaces, floating sports arenas, and essential oil lakes offer residents holistic wellness experiences against the backdrop of serene waters. Social and cultural offerings include a floating proposal deck, an opera stage, and floating cinemas, ensuring endless entertainment for residents.
Meanwhile, The Green Vein offers a harmonious blend of nature and nurture, with amenities catering to a healthy and active lifestyle. Residents can refine their culinary skills at outdoor classes using organic produce from hydroponic farms or host BBQ parties at live cooking stations. Zen Spa beckons with rejuvenating massages and meditation sessions, while calisthenics stations and peace rooms promote physical and mental well-being. The clubhouse serves as a hub for community gatherings, featuring co-working spaces, gyms, and outdoor cinemas, while the amphitheater and games zone cater to cultural and recreational pursuits.
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Inspired by iconic cities such as Rome, Paris, Amsterdam, New York, and London, Riverside's architecture exudes timeless elegance and global sophistication. With 1900 townhouses spread across 3-4 clusters, offering 4 and 5 bedrooms, Riverside presents an array of housing options to suit every lifestyle. From spacious 4-bedroom middle townhouses to sprawling 5-bedroom corner residences, each property is meticulously designed to ensure comfort and luxury.
The payment plan, spanning three years, allows for flexibility and ease of ownership, with a 24% down payment, 50% during construction, and 30% upon completion. The anticipated handover of properties is slated for 2027, marking the beginning of a new chapter in luxury living in Dubai. Riverside by DAMAC promises not just a residence but a lifestyle defined by opulence, convenience, and unparalleled amenities.
Stay tuned for more updates on Riverside as DAMAC continues to set new standards in luxury real estate in Dubai.

Hotel Indigo NYC Downtown - Wall Street in New York City, USA
Hotel Indigo NYC Downtown - Wall Street: A Historic Haven in the Heart of New York City
Price Level: $$$$
Hotel Class: 3.5
If you're a lover of history, culture, and iconic architecture, then Hotel Indigo NYC Downtown - Wall Street is the perfect choice for your stay in New York City. Located on the corner of Wall and Water Streets, this brand new hotel is situated in the heart of the renowned Financial District. Designed by the accomplished New York firm Gene Kaufman, Architect, P.C., the hotel's distinctive décor pays homage to the lively history of the District. With 127 modern-designed rooms, including 11 with walk-out balconies, you'll have a comfortable and stylish retreat during your visit. The hotel also offers a 24-hour business and fitness center, ensuring you have everything you need for a productive and enjoyable stay. After exploring the inspiring art, buildings, and shops in the area, you can indulge in delicious food and drink at one of the hotel's restaurants or the 24/7 Market Place. And for a truly unforgettable experience, don't miss the rooftop bar, where you can unwind and enjoy a bird's-eye view of the iconic architecture that New York City is famous for.
Amenities of Hotel Indigo NYC Downtown - Wall Street in New York City, USA
Hotel Indigo NYC Downtown - Wall Street in New York City, USA offers a wide range of amenities to ensure a comfortable and convenient stay for its guests. The hotel provides wheelchair access and accessible rooms for those with mobility needs. Pets are allowed, making it a great choice for pet owners. The non-smoking rooms and non-smoking hotel ensure a clean and fresh environment for all guests. The business center is equipped with all the necessary facilities for business travelers, while the fitness center allows guests to stay active during their stay. The hotel also offers a safe in each room for added security. Guests can enjoy entertainment on the flatscreen TV and relax on their private balcony. Facilities for disabled guests are available, and housekeeping services ensure a clean and tidy room. Blackout curtains provide a peaceful sleep environment, and bottled water is provided for guests' convenience. Cable/satellite TV, 24-hour check-in, and express check-in/check-out are additional amenities offered. Each room is equipped with a desk, and English-speaking staff are available to assist guests. Complimentary toiletries are provided, and free WiFi is available in the business center. The 24-hour front desk ensures assistance is available at any time. Other amenities include a hairdryer, newspaper, private bathrooms, paid public parking nearby, a seating area, soundproof rooms, Spanish-speaking staff, telephone, wake-up service/alarm clock, walk-in shower, and a wardrobe/closet. With these amenities, Hotel Indigo NYC Downtown - Wall Street provides a comfortable and enjoyable stay for all guests.
Contact of Hotel Indigo NYC Downtown - Wall Street in New York City, USA
18886802531
120 Water St # 122, New York City, NY 10005
kemoldixon@inwallst.com
https://www.ihg.com/hotelindigo/hotels/us/en/new-york/nycgo/hoteldetail
Location of Hotel Indigo NYC Downtown - Wall Street in New York City, USA
Pictures of Hotel Indigo NYC Downtown - Wall Street in New York City, USA
Tips for Staying in Hotel Indigo NYC Downtown - Wall Street
Black Fox Coffee is around the corner--a great place for breakfast & coffee!Room 301 (and possibly all rooms on all floors in same location) have a noisy fan outside the room.Just book it, you will thank yourself later!Central location easily accessible to several subway lines. Perfect spot.Stay on a lower floor to avoid exorbitant elevator delays.
Reviews of Hotel Indigo NYC Downtown - Wall Street in New York City, USA
Book Hotel Indigo NYC Downtown - Wall Street Now !!!
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Introduction
Chennai, a bustling metropolitan city in India, is home to numerous esteemed international schools known for their high academic standards, diverse curriculums, and holistic development programs. Securing a spot in these prestigious institutions can be a challenging yet rewarding endeavor. This comprehensive guide will walk you through the essential steps and provide valuable tips to navigate the admission process successfully.
Explore the best junior colleges in Chennai, renowned for their exceptional academic programs, experienced faculty, and comprehensive extracurricular activities. Find the perfect institution to kickstart your higher education journey with detailed information on courses, admissions, and facilities.
Understanding the Landscape
Chennai’s top international schools include names like the American International School Chennai (AISC), The British International School Chennai, and the International Baccalaureate (IB) World School, among others. These schools offer various curricula, including the International Baccalaureate (IB), the International General Certificate of Secondary Education (IGCSE), and the American curriculum, catering to the diverse needs of expatriate and local families.
Research and Selection
Identify Your Priorities: Determine what’s important for you and your child – curriculum, extracurricular activities, school culture, location, fees, etc.
Create a List: Make a list of potential schools that match your criteria. Visit their websites, attend open houses, and read reviews to gather more information.
Consider the Curriculum: Different schools offer different curriculums such as IB, IGCSE, or American. Choose one that aligns with your child’s future educational plans.
Application Process
Check Admission Criteria: Each school has its own set of admission criteria, including age requirements, previous academic performance, and language proficiency.
Prepare Necessary Documents: Commonly required documents include birth certificates, academic records, transfer certificates, proof of residence, passport-sized photographs, and sometimes medical records.
Submit the Application: Fill out the application forms meticulously. Some schools offer online application facilities, while others may require physical submission.
Entrance Exams and Interviews
Entrance Tests: Many top international schools in Chennai conduct entrance exams to assess a student’s academic capabilities. These tests typically cover subjects like English, Mathematics, and Science.
Interviews: Schools may also conduct personal interviews with the student and sometimes with parents to understand the child's personality, interests, and family background.
Preparation: Prepare your child for these assessments by reviewing past papers if available, and practicing common exam questions.
Financial Considerations
Tuition Fees: International schools tend to have higher tuition fees compared to local schools. It’s crucial to understand the fee structure, which may include admission fees, annual fees, and other charges.
Scholarships and Financial Aid: Some schools offer scholarships or financial aid to meritorious students. Inquire about these opportunities and understand the application process and eligibility criteria.
Additional Costs: Be aware of additional costs such as transportation, uniforms, extracurricular activities, and other miscellaneous expenses.
Final Steps
School Visits: Visit the shortlisted schools to get a firsthand experience of the campus, facilities, and the overall environment. This also allows you to interact with teachers and current students.
Decision Making: After visits and assessments, discuss with your child and make an informed decision. Consider factors like the school’s culture, teaching methods, and how they align with your child’s learning style.
Acceptance and Enrollment: Once you receive admission offers, review them carefully. Follow the instructions for acceptance, which usually involves paying an admission fee and submitting the necessary documents.
Tips for a Successful Application
Start Early: Begin your research and application process well in advance to avoid last-minute hassles.
Stay Organized: Keep track of application deadlines, required documents, and test dates.
Communicate: Maintain regular communication with the admissions office for updates and clarifications.
Prepare Your Child: Ensure your child is well-prepared for entrance tests and interviews.
Encourage them to be confident and honest during interactions.
Seek Guidance: If needed, seek advice from educational consultants who specialize in international school admissions.
Top 10 International Schools in Chennai:

• Anand Singapore International School (ASIS)
  
• American International School
  
• Lalaji Memorial Omega International School
  
• Aachi Global International School
  
• Gateway International School
  
• Grace International School
  
• St. Francis International School
  
• M Ct M. Chidambaram Chettyar
  
• The Lord’s International School
  
• Sri Sankara Global Academy
  

Conclusion
Securing admission to one of Chennai's top international schools requires thorough research, careful planning, and diligent preparation. By understanding the admission process, preparing adequately for assessments, and considering financial aspects, you can enhance your chances of successfully enrolling your child in a school that offers a world-class education and a nurturing environment.

details: This was the only information I could find online about a similar item.
An element of classic traditional decors conceived by interior decorators such as Elsie De Wolfe, Sister Parish, Jansen andMario Buatta, red lacquer case pieces--such as this glass-door vitrine set atop a commode with three drawers lined in decorative paper--came into fashion in the eighteenth century. This unique example, signed and dated, was painted in 1951 by James Reynolds (NÉ Harold Warner Reynolds, 1891-1957), an award-winning costume and set designer, book illustrator, author , and wallpaper and textile designer who was born in New York City and died in Bellagio, Italy. His works include murals for the Palladian Ballroom at the Omni Shoreham Hotel in Washington, D.C., the Old Warson Country Club in St. Louis, Missouri, Italy's Villa Torrigiani, near Padua, and Manhattan's House of Hellas, the headquarters of the Friends Of Greece. He also painted a portrait of Happy Landings racehorse owned by beer heiress Mrs. August Busch, and designed costumes for the 1921, 1922, and 1923 editions of the Ziegfeld Follies as well as for Jerome Kerns musical "Sunny", Cole Porter's "fifty Million Frenchmen", and Charles Dillingham's production of "The Last of Mrs. Cheney", Reynolds's paintwork on the item offered here reflects a postwar evocation of the European craze for chinoiserie in the 1700s, its coral-red lacquer finish richly embellished monkeys, and Thai-costumed figures building a pair of caparisoned elephants, the howdahs sheltering a mandarin and his wife. The fantastical effect recalls the Rodgers and Hammerstein musical "The King and I", which had its Broadway premiere the year that Reynolds painted this extravagant furnishing. The presence of shells, both carved and painted, underscores the exotic impression. It is made in two pieces: the electrified vitrine sits atop the commode. Reynolds signed the piece, as well as a matching cocktail table with his initials, J.R., followed by a five-pointed star and the the date. The case piece install, styled after 18th- century Genoese furniture , likely was sourced from Lavezzo, Inc., the Manhattan furniture shop of Reynold's friend Daniel H. Lavezzo (his family long owned the old0guard pub P.J. Clarke's), which was noted for "Period Reproductions". per a 1945 guidebook, and for its Italian-style furnishings, per Reynolds's book "Baroque Splendour" (1950). Lavezzo's firm provided vintage furniture and lighting to Vizcaya, the great Miami mansion of James Deering, and designed a custom-made headboard for actress Marilyn Monroe: John D. Rockefeller was also a client.

Product details
An element of classic traditional decors conceived by interior decorators such as Elsie De Wolfe, Sister Parish, Jansen andMario Buatta, red lacquer case pieces--such as this glass-door vitrine set atop a commode with three drawers lined in decorative paper--came into fashion in the eighteenth century. This unique example, signed and dated, was painted in 1951 by James Reynolds (NÉ Harold Warner Reynolds, 1891-1957), an award-winning costume and set designer, book illustrator, author , and wallpaper and textile designer who was born in New York City and died in Bellagio, Italy. His works include murals for the Palladian Ballroom at the Omni Shoreham Hotel in Washington, D.C., the Old Warson Country Club in St. Louis, Missouri, Italy's Villa Torrigiani, near Padua, and Manhattan's House of Hellas, the headquarters of the Friends Of Greece. He also painted a portrait of Happy Landings racehorse owned by beer heiress Mrs. August Busch, and designed costumes for the 1921, 1922, and 1923 editions of the Ziegfeld Follies as well as for Jerome Kerns musical "Sunny", Cole Porter's "fifty Million Frenchmen", and Charles Dillingham's production of "The Last of Mrs. Cheney", Reynolds's paintwork on the item offered here reflects a postwar evocation of the European craze for chinoiserie in the 1700s, its coral-red lacquer finish richly embellished monkeys, and Thai-costumed figures building a pair of caparisoned elephants, the howdahs sheltering a mandarin and his wife. The fantastical effect recalls the Rodgers and Hammerstein musical "The King and I", which had its Broadway premiere the year that Reynolds painted this extravagant furnishing. The presence of shells, both carved and painted, underscores the exotic impression. It is made in two pieces: the electrified vitrine sits atop the commode. Reynolds signed the piece, as well as a matching cocktail table with his initials, J.R., followed by a five-pointed star and the the date. The case piece install, styled after 18th- century Genoese furniture , likely was sourced from Lavezzo, Inc., the Manhattan furniture shop of Reynold's friend Daniel H. Lavezzo (his family long owned the old0guard pub P.J. Clarke's), which was noted for "Period Reproductions". per a 1945 guidebook, and for its Italian-style furnishings, per Reynolds's book "Baroque Splendour" (1950). Lavezzo's firm provided vintage furniture and lighting to Vizcaya, the great Miami mansion of James Deering, and designed a custom-made headboard for actress Marilyn Monroe: John D. Rockefeller was also a client.