Hospitality

Miami -- Burger King Worldwide agreed to buy Canadian quick-serve chain Tim Hortons for approximately $11.4 billion, creating the world’s third largest quick-serve restaurant company. Under a tax inversion deal, the corporate headquarters of the new company will be in Canada, where the combined company’s biggest market will be.  

Houston - Luby’s, operator of the Luby’s and Fuddruckers casual dining brands, is expanding its use of the EyeQinsights system. The EyeQ solution learns about in-store shoppers and uses customer activity, demographics and preferences to enable retailers to instantly customize each shopper’s experience.

Colonia, N.J. -- Muscle Maker Grill, a fast-casual restaurant franchise that serves freshly prepared health-conscious meals, will be opening 22 new locations throughout the country, which will raise the number to more than 75 units.

Recent store openings include Las Vegas, Dallas, a third location in Connecticut, located in Hamden and a second location in Staten Island, New York. An additional 22 new franchises will result in the development of restaurants across the country, from California to New York.

Emeryville, Calif. -- Jamba Inc., operators of Jamba Juice stores, reaffirmed its commitment to accelerate its move to an asset-light model with the announcement that the company has entered into an agreement with Capgemini, a leader provider of consulting, technology, and outsourcing services. The agreement provides enhanced administrative tools, technology services, and capabilities for Jamba, and is anticipated to create workflow efficiencies while reducing costs as the brand pursues a 10%-20% reduction of overall G&A in 2015.

New York -- Burger King Worldwide is in discussions to buy Canadian coffee and doughnut chain Tim Hortons. The two companies said in a joint statement on Monday that the new publicly listed entity would be based in Canada. The move comes as the White House is calling on Congress to take steps to prevent U.S. companies from moving outside the country (“tax inversions”).

The two restaurant companies are currently worth a combined total of about $18 billion, according to media reports.

Orlando, Fla. -- Florida's retail development market is moving indoors. According to JLL research, nearly half of all retail commercial construction in Florida in the half of 2014 is taking place in malls and shopping centers.

Oak Brook, Ill. -- McDonald’s Corp. on Friday named one of its former executives, Mike Andres, as president of its U.S. operations, effective Oct. 15. Andres rejoins McDonald's after most recently serving as chairman and CEO of restaurant chain Logan's Roadhouse,

Andres, 56, replaces Jeff Stratton, 58, who is retiring after 41 years with the company. Stratton was named U.S. president in November 2012.

New York -- Saks Fifth Avenue will open a three-level, 107,000-sq.-ft. store in Brickell City Centre, Miami.

The store, scheduled to open in fall 2016, will help anchor the mixed-use development, which is currently under construction. The project includes residential, office and hotel space, along with a 565,000-sq.-ft. shopping center.