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Café Rouge may sell out for £500m - For more hospitality stories, see what the weekend papers say

Tuesday 28 August 2007 10:32
weekend papers

Café Rouge may sell out  for £500m
Café Rouge and Strada owner Tragus could be put up for sale by its owner Blackstone for as much as £500m later this year. The two brands were bought by private equity giant Blackstone last year for just over £400m. – Mail on Sunday, 26 August

One Aldwych overpays kitchen porter by £8,000
A Polish kitchen porter accidentally paid £8,200 instead of his true salary of £250 a week has disappeared from London’s One Aldwych hotel. The owners of One Aldwych and believed to be taking legal action against Konrad Duptuch to recover the money. – Mail on Sunday, 26 August

Whitbread shareholders in £900m windfall
Whitbread is expected to announce a potential £900m return of cash to shareholders this week alongside a trading update. The company promised to pass on cash earned from the sale of its David Lloyd gym chain for £925m. There is City speculation that Whitbread may have another big influx of cash coming through the sale of its flourishing Costa Coffee chain. – Mail on Sunday, 26 August

Edinburgh hotel in final of global quality award
The Quality Hotel at Edinburgh Airport is the only UK hotel to be named as a finalist from more than 5,000 Quality Hotels worldwide in the final of the Quality Hotel of the Year Award. – The Scotsman, 25 August

Burger King back in profit
Burger King Holdings posted a profit for the fourth quarter, driven by strong late-night and breakfast sales. The results came as the world’s second-largest burger chain completed its first year as a publicly traded company. Burger King earned £18m for the three months to 30 June, compared with a loss of  £5m a year ago. – The Times, 25 August

£140m hotel development in Glasgow
Aberdeen based hotel operator European Development Company (Hotels) has unveiled a £140m plan for rebuilding what was formerly Glasgow's Albany Hotel. The plans are for a four or five-star Crowne Plaza 300-bedroom hotel, a 275-bedroom Express by Holiday Inn plus restaurant, bars and leisure facilities. – The Scotsman, 25 August

Dawnay Shore still on the acquisition trail
Dawnay Shore Hotels intends to pursue further acquisitions after a deal to lease its 20 hotels to Barceló, the Spanish hotel operator [read full article on Caterersearch]. – The Times, 25 August

Starbucks opens in Russia
Starbucks will open its first store in Russia next month after a decade of delays and legal wrangling. The opening of what is likely to be termed "Tsarbucks" will kick off a country-wide roll-out as the chain aims to cash in on Russia's rising consumer spending. – Scotland on Sunday, 26 August

Starbucks opens first store in a UK university
Starbucks, the coffee shop chain, has signed its first licensing agreement with a UK university. It will open a store at the University of Surrey, Guildford, later this year. – The Times, 25 August

Scottish parliament to probe business links between VisitScotland and its website
The Scottish Parliament is to examine the relationship between the state body VisitScotland and eTourism Ltd, the largely private company that runs the tourism website VistScotland.com. The concern is that it is "difficult to square the circle" of state support for a private body. – The Scotsman, 27 August

Indeed pub group add 12 more pubs to portfolio
InnDeed Group, the tenanted pub operator backed by Dawnay Day, has bought 12 pubs between Doncaster and Rugby from Pub People Company for an undisclosed sum, taking its total to 29. The Times, 25 August

McDonald’s targets Scotland as part of Europe-wide expansion
McDonald’s is upping its investment in Scotland as part of a revised strategy to plough as much cash into Europe as its main business in North America. It says Europe has now become its most important growth market and this year plans to pump as much cash into its 6,400 European restaurants as it will into the USA, where it has well over double the number of branches. – Scotland on Sunday, 26 August

 

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