Banks lose coffee bars
Whitbread-owned coffee chain Costa has closed one-third of its concession bars in Abbey National banks, leaving just 15 operating. The eight closures were in Leeds, Ilford, Nottingham, Hull, Middlesbrough, Barnet, Croydon and Stoke-on-Trent. A spokesman said that they were closed by mutual agreement and that this did not signal the end of the partnership. Costa does not plan to close any more such outlets, and may indeed open others in the future. Costa has 316 coffee shops across the UK.
New head for Crown?
London Town Hotels is in advanced negotiations to buy the 95-bedroom Crown hotel in the city's Paddington district for more than £15m. The group, which usually leases hotels and runs them under franchise agreements, hopes to complete the deal soon. Following the acquisition, the property would be renovated and converted to one of LTH's franchised brands. The group currently operates five hotels in the capital under the Comfort, Quality and Country Inns & Suites brands.
Polizzi adds a second
Olga Polizzi has signed a deal to buy the Grade I-listed Endsleigh House in Tavistock, Devon, for a rumoured £3m. The property will become Polizzi's second hotel when the sale completes in September and will be run by her daughter, Alex. The house will be turned into a 15-bedroom hotel, with renovation work scheduled to start in October and a soft opening planned for early next summer. Fishing is expected to be a prime attraction, as the grounds include more than 800 yards of the River Tamar.
Cut booze tax, UK told
The European Union (EU) has warned Britain that it must cut taxes on alcohol and put a stop to cheap imports. With the duty on beer being 35p in Britain, compared with 5p in France, one million pints are smuggled into the UK for illegal resale each year. This is having a damaging impact on Britain's pubs and brewers. The EU is threatening legal action if the country's tax policy is not changed within two months.