CATERER EATS OUT
M&A activity [big deals/small deals]
Pages ...20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41... Previous | Next Irish consortium buys London’s Hempel hotelWest London’s stylish Hempel hotel has been sold to a consortium of private Irish investors for a cool £16.5m. Whitbread to sell off four-star hotelsSpeculation is growing that Whitbread will announce on Monday that it is to sell off all of its four- and five-star properties. The company has refused to deny that a deal is on the cards. InterContinental sells 73 hotels for £1bInterContinental Hotels Group (IHG) today announced the sale of 73 hotels to LRG, a consortium headed by Lehman Brothers Real Estate, for £1b. Jarvis sells off Ramada Plaza Regents Park HotelJarvis Hotels has sold its Ramada Plaza Regents Park Hotel in north-west London to CP Holdings for £60m. Cendant signs franchise deal with Crowne HotelsUS hotel giant Cendant Hotel Group International has signed its first franchise deal since acquiring Ramada International Hotels & Resorts. Lehman Brothers wins race for InterContinental hotels?Lehman Brothers Real Estate is believed to have won the race for the 75 hotels put up for sale by InterContinental, Caterer-online has learned today. TDR denies separate sale of PizzaExpress is on the cardsThe owner of PizzaExpress has played down speculation that the company is considering an imminent sale or flotation of the business separately from its other pizza group, Ask Central. The Restaurant Group to buy Living VenturesThe Restaurant Group (TRG) has confirmed it is in negotiations to buy a controlling stake in Living Ventures, the bar and restaurant group owned by founders Tim Bacon and Jeremy Roberts. De Vere sells Belfry but retains management contractHotel chain De Vere has sold the 324-bedroom De Vere Belfry hotel, famous for hosting the Ryder Cup, to Irish-based insurance and leisure group Quinn for £186m. Shearings to merge with rival Coach Holiday GroupLeading coach and hotel holiday operators Shearings and Coach Holiday Group (CHG) have exchanged contracts for a £200m merger that will create a serious rival to Saga in the over-55s holiday market. Yates owner to buy Mexican restaurant chainThorium, the company that took the Yates pub group private last August, has made a £3.55m offer for the Santa Fe chain of seven, mostly Mexican-themed, restaurants. Japanese firm snaps up Menzies chainNikko Principal Investments has unveiled plans to grow the UK hotel chain Menzies following its £120m deal to acquire the business this week. Going against the current trend, the Japanese investment firm plans to own and operate the 14 four-star hotels in the chain. Senior management will retain shares in the company, with chairman and founder Nick Menzies holding a 17% stake and continuing to head the company. Menzies said there was "no particular target" to grow the chain, but he would continue to build a mixed portfolio of resort, country house and city-centre hotels. "One of our biggest strengths is our diversity," he said. "There are some interesting opportunities out there in the fragmented, four-star market." The deal, which marks Nikko's first foray into UK hotels, will enable existing private equity backers BancBoston Capital and Indigo Capital, which invested in the chain following a failed flotation in 1998, to exit the company. W&D bids £119m for Burtonwood chainBrewer and pub operator Wolverhampton & Dudley (W&D) has tabled a £119m offer for Burtonwood, which has 460 pubs in North-west England and North Wales. Savoy Group renamed after sale of flagshipThe Savoy Group of hotels has been renamed by its Irish owners after the sale of the iconic London hotel of the same name. Ex Corus bosses take over five hotelsTwo former Corus managing directors have succeeded in snapping up a package of five hotels from their old employer, including the 138-bedroom Richmond Hill and 68-bedroom Richmond Gate in Surrey. Fairmont takes on the management of London’s Savoy hotelCanadian hotel group Fairmont Hotels & Resorts has taken over the management of London’s Savoy hotel and the adjacent Simpons’s-in-the-Strand restaurant. LGV buys Tragus for more than £90m
What the weekend papers sayA round-up of the weekend's news affecting the hospitality industry... Dublin's Shelbourne Hotel soldDublin’s iconic Shelbourne Hotel has been sold to a consortium of Irish investors, in a deal believed to be worth between €120 million (£84.2m) and €130 million (£91.2m). Danubius poised to take over Jarvis's Regents Park HotelHungarian hotel group Danubius could take over the running of Jarvis Hotels' Ramada Regents Park Hotel in north-west London if a deal to sell the property goes ahead. Pages ...20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41... Previous | Next |
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