Great Southern on the market
Irish state-owned hotel chain Great Southern Hotels is up for sale as a going concern after losses spiralled out of control to an estimated €6m (£4.1m). The group, which consists of nine four-star airport hotels, was put on the market by its owner, the Dublin Airport Authority, at €100m (£68m). The properties are struggling with low occupancy levels and high labour costs at about 46% of turnover. Ireland's transport minister admitted last week that the group could need up to €80m (£55m) in refurbishment investment.
Finnishing off the opposition
The 2006 International Finlandia Vodka Cup Competition has been won by Jan Lindgren of Finland on his second attempt at the title. Media, judges, distributors and brand managers gathered at the Ice Bar at Lainio village in Lapland on 31 January for the final event, in which 19 nations, including Israel, the USA and Kazakhstan, took part. Contestants were required to produce three drinks - an aperitif, a long drink and a digestif - for a panel of judges that included US cocktail legend Dale DeGroff. UK entrant Tom Ward from the Player in Soho, London, didn't make the top three but got a special award for the Best Long Drink. Look out for Caterer's special bar issue on 23 March.
Ferré snaps up Marmotte
Marmotte, one of France's largest budget hotel chains, has been bought by hotel entrepreneur Didier Ferré for an undisclosed sum. The portfolio consists of more than 1,000 bedrooms in 27 budget hotel properties throughout France. Speculation as to the sale value ranges between €10m and €30m (£7m-£20m). Ferré already owns a large number of hotels franchised under the Accor and Louvre brands. Property agent Christie & Co, which conducted the sale, said: "This transaction confirms investors' huge interest in the whole hotel sector."