Hospitality

Louisville, Ky. — GBT Realty Corp. has closed on the purchase of approximately 32 acres along Shelbyville Road at I-265 for the development of Middletown Commons in Louisville, Ky. Plans call for the first tenants to open in late 2014.

The mixed-use power center will include more than 225,000 sq. ft. of retail space and six outparcels ranging from 0.6 acres to 1.88 acres. According to GBT Realty, total development costs will likely exceed $50 million.

Washington, D.C. -- Driven by improving same-store sales and customer traffic levels, the National Restaurant Association's Restaurant Performance Index (RPI) hit a five-month high in November 2013. The RPI, a monthly composite index that tracks the health of and outlook for the U.S. restaurant industry, stood at 101.2 in November, up 0.3% from October and the strongest level since June.

Plano, Texas -- Pizza Hut will offer 50% off any medium or large pizza ordered online from Jan. 1-10. The online promotion marks the 20th anniversary of Pizza Hut offering online ordering via its “PizzaNet” digital ordering hub.

Participants will also join the brand's "Hut Lovers" program, which provides members with other exclusive deals. Pizza Hut is launching a YouTube ad featuring 1990s pop artists Ace of Base as part of the promotion.

The high school in Buena Vista, Colo., earned an annual award from athletic apparel manufacturer Russell Brands after it demonstrated courage and perseverance following a tragic event in September.

Lebanon, Tenn. — Cracker Barrel Old Country Store, Inc has considered and rejected a recent filing and statement from top shareholder Sardar Biglari demanding that the company commence a sale process. Cracker Barrel has determined that the continued execution of the company’s existing business strategy is currently the proper course of action for the long-term best interests of the company and its shareholders.

New York -- Due to the holiday rush and related closings, Chain Store Age has extended the deadline for its 32nd annual Retail Store of the Year Design Competition until Wednesday, January 8, 2014.

More than 20 competition categories are featured, including department stores, supermarkets, discounters, restaurants, convenience stores, specialty stores, service, sustainability and pop-up stores. This year, for the first time, the competition also includes the category of in-store digital innovation.

Glendale, Calif. — DineEquity, Inc., parent company of IHOP Restaurants, has opened the first IHOP restaurant in Saudi Arabia. The restaurant, located in “Le Mall,” is part of a seven-brand restaurant destination in Jeddah, which opened Dec. 14.

Atlanta -- An affiliate of Roark Capital Group has acquired a majority stake in CKE Restaurants Inc., owner of Carl's Jr., Hardee's and various other quick-serve restaurant chains.