Zagat restaurant guide business could be up for sale
Zagat Survey, publisher of the long established Zagat restaurant guides, has said it is exploring strategic opportunities for the business including a potential sale.
The New York-based company, which was founded as a hobby by Nina and Tim Zagat in 1979 and reviews restaurants, hotels and airlines in 104 countries, is keen to expand its reach further and is also considering partnerships or joint ventures to achieve this.
Tim and Nina Zagat said: "With the changes in the broader media and technology environments, we have determined that it is the right time to take a look at our company's options for even more rapid long-term growth."
According to the New York Times, the company could fetch in excess of $200m (£102m).
Last year, the Zagat London Restaurants 2008 guide named the capital as the most expensive city in the world to dine out in.
It said London had surpassed Tokyo as the world's priciest dining city, with the average cost for a meal rising almost 3% to £39.
Nina Zagat, co-founder of the Zagat Survey >>
London's restaurant prices highest in the world >>
Zagat Caterer profile >>
by Kerstin Kühn
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