Essential news from around the world…
German hotel profits tumble as economic conditions worsen
German hotel profits fell an average of 12% in 2002, according to the latest figures from consultants Deloitte & Touche. All hotels recorded in Deloitte’s HotelBenchmark Survey of Germany reported declines in profitability, reflecting the high costs of the business that could not be reduced in line with the fall in customer demand. Occupancy levels dropped by nearly 5% in 2002 to 60%
Rezidor SAS creates new lifestyle hotel chain
Hotel group Rezidor SAS has teamed up with fashion label Cerruti to open a new chain of lifestyle hotels. The Cerruti hotels will comprise both new builds and conversions of historic buildings in cities across Europe. They will range in size from 120 to 175 bedrooms and will all feature Cerruti Cafés, Italian-style wine bars and two or three boardrooms. Rezidor has already signed a contract to open its first Cerruti hotel in Brussels.
Losses widen at Mövenpick
Swiss hotel, restaurant and frozen foods group Mövenpick has reported a Sfr45.5m (£21.4m) loss in the year to 31 December 2002. Turnover fell by 9% to Sfr824m (£388.3m). The group cited a weak German economy as a reason for the declines.
Raffles president and chief executive quits
Richard Helfer, president and chief executive of Singapore-based hotel company Raffles, has resigned after 17 years with the group. Jennie Chau, deputy chief executive of Raffles and president and chief operating officer of Raffles International, the hotel management arm of the business, will take over from Helfer next month.
Ducasse named “World’s Best Cook”
French chef Alain Ducasse has been named “The World’s Best Cook” by the American Academy of Hospitality and Sciences. The academy, which counts hundreds of top chefs and food critics among its members, hands out honours to top chefs, restaurants and hotels every year.
Golden Tulip expands in Brazil
Dutch hotel group Golden Tulip has announced plans to expand in Brazil through a joint venture with its Brazilian franchisee Chambertin Hotels. The group currently has 11 hotels in Brazil and hopes to expand to 50 by 2007.
Profits dip at Accor
French hotel group Accor has recorded a 7.3% fall in pre-tax profit to €703m (£485m) in the year to 31 December 2002. Despite the fall, profits were in line with company forecasts of €700m (£483m).