Restaurant Industry Update (MSSR)

Nicole Miller Regan and Joshua C. Long, analysts at Piper Jaffray, are pointing out an increasing trend of corporate travel and spending. This is strongly and positively correlated to restaurants' business performance.

Hotel RevPAR (Revenue Per Available Room) grew by 8% year on year and RevPPM (Revenue Per Passenger Mile) increased by 4.5% year on year. Smith Travel Research has projected a increase of 3% in FY10 and of 7% in FY11 in RevPAR.

Analysts are upbeat on McCormick & Schmick's (NASDAQ: MSSR), maintaining an Overweight rating on the company with a price target of $11. The stock has been trading around $7.50.