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US hotel takings down
The average US hotel suffered an 11.9% decrease in income before fixed charges during the first six months of 2003, according to the latest edition of Trends in the Hotel Industry, published by consultants PKF. Total revenue declined by an average 3.7% during the first half of 2003, when compared with the first half of last year, while operating expenses were up by 1%.
Motorway deal for Autogrill
Concessions caterer HMS Host, a subsidiary of Italy's Autogrill, has entered into a 15-year agreement to operate Starbucks Coffee shops and convenience stores at seven motorway service areas on the Illinois Tollway in the USA. The deal is expected to turn over more than $185m (£110m) over its lifetime.
Euro Disney losses widen
Euro Disney, operator of the Disneyland Resort Paris, has confirmed that its losses for this year are likely to increase to €58m (£40.4m) this year from €33.1m (£23m) last year. Its admission followed a leak to a French newspaper last week. Euro Disney's results are due out in November.
Hotel renovations to increase
The level of capital expenditure by US hotels is expected to return to roughly 1998 levels next year, says a report from consultancy PricewaterhouseCoopers.
Starwood hits the beach
Starwood Hotels & Resorts is to manage a new 156-bedroom hotel in Thailand. The Sheraton Pattaya Resort is scheduled to open in October 2004.
Mixed picture for NH sales
Spanish hotel group NH Hoteles registered sales of €633.5m (£442m) in the nine months to the end of September, an increase of 2.75% on the first nine months of 2002. But like-for-like sales were down across the board.
MyTravel sells Florida resort
Tour operator MyTravel has sold its Oasis Lakes timeshare resort in Orlando, Florida, to Bluegreen Corporation for €22m (£15.4m). CB Richard Ellis Hotels acted for MyTravel.