£2b hotel property float shunned by major investors - For more hospitality stories, see what the weekend papers say

£2b hotel property float shunned by major investors
Major property investors on both sides of the Atlantic are set to shun the flotation of Vector Hospitality, the biggest property flotation yet attempted on the London Stock Exchange. Cohen & Steers, the largest specialist property investor in the world, and one of its biggest European rivals, Henderson Global Investors, have both indicated they will not buy into the £2b hotel property flotation because of concerns about investment returns and the management structure. – Sunday Telegraph, 3 June

Whitbread to sell leisure business for £920m
Whitbread is close to selling its David Lloyd leisure chain to private property company London & Regional for £920m. The proceeds of the sale will be used to expand Whitbread's Premier Travel Inn chain and boosting its Costa coffee operation. Some investors are hoping that the disposal of David Lloyd could open the way for a bid for Whitbread from rumoured predator Starwood Capital, the US private equity firm. Whitbread is in the running to acquire Jurys Inn, the Dublin-based hotels group and, if successful, these hotels will be rebranded under the Premier Travel Inn label. – The Observer, 3 June

Carluccio’s in bid speculation from The Ivy owner
Carluccio’s, the Italian deli-dining chain, returned to the bid spotlight after Richard Caring, the owner of the London eateries Le Caprice and The Ivy, lifted his stake from 3% to 5.1%. – The Times, 2 June

Pret A Manger may go up for sale
Pret A Manger is being eyed by a number of rivals after the appointment of a City investment bank to advise it on a possible sale with a price between £150m-£250m. Potential buyers include McDonald’s, Marks & Spencer, Starbucks and Costa Coffee. – Mail on Sunday, 3 June

In-flight caterer Alpha is Italian bid target
Autogrill, the Italian motorway services operator, has taken it shareholding in Alpha, which provides inflight meals and runs shops in airports, to just under 30%. If it were to increase its holding further it would need to make an offer for all the shares. Autogrill said yesterday that it was considering its options. – The Times, 2 June

By Bob Gledhill

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