Finance
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A round-up of the weekend's news affecting the hospitality industry. News includes: Reuben brothers join shareholder revolt at Orient-Express; Workhouse diet makes a comeback in the credit crunch; Conservationists fight to save painted pub signs
Posted: 22 September 2008 | 10:44
The Government has been urged to reverse its decision to cut VisitBritain funding and invest more in promoting tourism after official figures revealed a 4% slump in the number of tourists visiting the UK between May and July.
Posted: 19 September 2008 | 07:00
Casual dining operator Tragus today reported a 56% increase in full-year pre-tax earnings, a boost largely driven by last year’s takeover of Italian high street chain Strada.
Posted: 15 September 2008 | 13:10
AIM-listed pub company London Town has hired accountant and rescue specialist Billy Buchanan as chief executive and chief financial officer to help reverse the trend towards pub closures...
Posted: 15 September 2008 | 10:55
As many as three in 10 Punch and Enterprise tenanted or leased pubs with a beer tie may be “uneconomic”, with licensees making less than £20,000 a year, a City analyst has warned.
Posted: 12 September 2008 | 15:13
Italian restaurant chain Prezzo has scaled back its new openings programme and earmarked several sites for disposal as trading conditions on the UK’s high streets worsen.
Posted: 10 September 2008 | 13:13
Investors in Morgans Hotel Group are considering forming a shareholder action group after the board of the luxury hotel group rejected a $1.4b (£796m) bid from a Dubai-based investment fund.
Posted: 10 September 2008 | 12:59
JD Wetherspoon, the high-street pub operator, has seen its full-year profits nosedive in what its chairman has described as a “traumatic year” for the pub industry.
Posted: 05 September 2008 | 10:59
Whitbread’s Premier Inn has continued to perform strongly, buoyed by a raft of new openings.
Posted: 04 September 2008 | 12:35
Hotel property valuations in the UK could fall by as much as 20% because of the economic downturn, experts have predicted.
Posted: 04 September 2008 | 12:00
Spirit, the managed division at pub giant Punch Taverns, is poised to embark on a wide-ranging restructuring programme in an effort to address falling sales.
Posted: 04 September 2008 | 09:00
Given the current economic climate, some operators may worry about the threat of insolvency. Vernon Dennis, head of corporate recovery and reconstruction at Howard Kennedy Solicitors, offers some advice
Posted: 04 September 2008 | 00:00
Debbie Taylor, managing director of the Old Course Hotel, Golf Resort & Spa in St Andrews, Fife, says adding value, not cutting back, is the key to surviving the credit crunch
Posted: 04 September 2008 | 00:00
The UK’s largest pub company Punch Taverns today reported a slide in sales, adding further weight to claims the sector is in crisis.
Posted: 03 September 2008 | 13:15
Coffee Republic is to enter a period of consolidation after a frenetic year which has seen rapid growth through franchising, the group announced today.
Posted: 29 August 2008 | 12:45
The Real Hotel Company today revealed that it is suffering from the economic downturn, making an operating loss of £1.5m for the first six months of the year.
Posted: 22 August 2008 | 16:24
Administrators have begun to shut loss-making pubs in the estate of Liverpool-based Cains Beer Company but still hope to find a buyer, it was announced today.
Posted: 21 August 2008 | 14:56
The Government's 2012 Olympics tourism strategy has once again been called into question after it emerged that Visit London is being forced to make redundancies because of a real-terms cut in its budget.
Posted: 21 August 2008 | 07:00
Robert Tchenguiz has bought back the leases on around 80 former Laurel pubs and bars, which were placed into administration in March.
Posted: 14 August 2008 | 12:51
Holiday Inn owner InterContinental Hotels Group (IHG) has seen its first-half pre tax profits fall 9.7% to $232m (£122m) as the US downturn hits.
Posted: 12 August 2008 | 11:57
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