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Caterer & Hotelkeeper Magazine

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What the weekend papers say

David Shrimpton
Wednesday 07 May 2003 10:21

A round-up of the weekend's news affecting the hospitality industry...

Earl in joint venture to revamp London casino
Robert Earl, co-founder of the Planet Hollywood restaurant chain, plans to install new dining and entertainment facilities at London casino 50 St James. Earl has formed a joint venture with the casino's owner London Clubs International. - Financial Times, 3 May
 
Hilton and Marriott want to run Le Méridien
Hotel groups Hilton and Marriott have both approached banks controlling Le Méridien with proposals to take over the management of their troubled rival. - Sunday Times, 4 May
 
Wolves circling Eldridge Pope
Wolverhampton & Dudley Breweries is believed to be in preliminary talks about a takeover of Eldridge Pope, the West Country pub operator. - The Times, 5 May
 
Yates loses property director
Pub firm Yates Group is parting company with Tim Meggitt, its property director. - Daily Mail, 3 May
 
S&N auction will start this month
Scottish & Newcastle (S&N) will kick off the formal auction for its £2.3b pubs estate in the next three weeks. US venture capital firms Texas Pacific and BC Partners, as well as UK groups the Laurel Pub Company and Pubmaster, have already been in touch with S&N's advisers about buying the 1,450-strong estate of pubs, bars and hotels. - The Business, 4 May
 
Smoking bans are good for business, claims TUC
Smoking bans in British pubs and restaurants could drive up profits by encouraging more people to eat out, says the TUC in a new report. - Observer, 4 May
 
Le Méridien managers call in consultants
Partners from Deloitte & Touche, the accountant, have been called in by the management of Le Méridien Hotels to draw up a rescue plan for the beleaguered chain. - Sunday Telegraph, 4 May
 
Orb close to Thistle properties sale
Orb, the debt-laden Jersey-based company involved in a fraud investigation, is said to be in advanced talks with a private individual regarding the sale of a portfolio of 37 hotels that it acquired from Thistle in March last year. - Financial Times, 5 May
 
Last Thistle supporters may throw in the towel
The last supporters of Thistle, the hotels group fighting a hostile bid from BIL, a Singapore-based investment company could jump ship this week. - Financial Times, 5 May
 
Indian restaurant bans Asians
An Indian restaurant in Bowness-on-Windermere, Cumbria, has been accused of racism after admitting it has a ban on Asian diners. The boss of the Emperor of India said Indians and Pakistanis complained the food was not spicy enough. - The Mirror, 3 May
 
QMH shares under pressure
Shares in Queens Moat Houses, the four-star hotel operator, came under fresh pressure on Friday amid growing fears over the company's financial stability. In an update at the annual meeting, chairman Richard Jewson, said trading conditions affecting its 89 hotels had continued to deteriorate in recent weeks, not helped by the impact of the Sars virus on international travel. - The Times, 3 May
 
McDonald's UK profits down by 20%
Fast-food chain McDonald's has slumped to its lowest profits for five years in the UK, according to newly-released figures. McDonald's posted a pre-tax drop in profits of £20.5m, to £83.8m, and is likely to open fewer restaurants next year as a result. Last year, the group opened 57 restaurants. Sales slowed from £1.14 billion to £1.13 billion. - Daily Telegraph, 3 May
 
Timeshare owners win battle with Macdonald
Timeshare owners at a Scottish resort run by Macdonald Hotels have won the right to take a £1.4m management contract away from Macdonald and award it to an owners' consortium. Macdonald had tried to prevent owners at Loch Rannoch Highland Club from switching the contract. If it loses the contract, Macdonald says it will bar timeshare owners from using leisure facilities at its hotel on the same site. - The Herald, 5 May

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