David Michels in conflict of interest concern - For more hospitality stories, see what the weekend papers say

David Michels in conflict of interest concern
Potential investors in one of the largest flotations to come to the London Stock Exchange have started to raise concerns about conflicts of interest in the new company's complex management structure. The presence of Richard Balfour-Lynn, the property entrepreneur, and Sir David Michels, the former chief executive of the Hilton Group, on the boards of five companies involved in the £2b flotation of hotel company Vector Hospitality has emerged as the chief cause for concern among investors. – Sunday Telegraph, 13 May.

Compass sell vending business for £772.5m
Compass, the world's largest catering group, will return £500m of cash to shareholders following this weekend's £772.5m sale of its Selecta vending business to Allianz Capital Partners, the German private equity company. The sale of Selecta, which operates 150,000 vending machines in 22 European countries, was finalised yesterday and will be confirmed in an announcement to the Stock Exchange tomorrow morning. – Sunday Telegraph, 13 May.

Hotels are a good long-term investment
Hotels are a better long-term investment than the commercial property sector, despite the risks they are normally associated with. According to new research by PKF accountants and business advisers, hotels out-performed the commercial sector by 32.5% between 1992 and 2005.  – The Scotsman, 12 May. 

Blackpool supercasino speculation reappears
Odds are shortening that Blackpool will win a Las Vegas-style super-casino in what would be a remarkable turnaround in fortunes for the down-at-heel seaside resort. Government insiders say plans are emerging that will result in proposals for two supercasinos being put before a committee of MPs within weeks. – The Observer, 13 May.

By Bob Gledhill

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