Treasury to rethink closure of tax benefit on new-build hotels
The Treasury is to re-examine one of Gordon Brown's least-welcome policies from his last Budget - the phasing out of the hotel building allowance. This was an annual 4% tax concession for hotel owners spanning the first 25 years of every newly built hotel's lifetime. The tax break, to encourage investment, has been in place for 30 years. The Budget announcement shocked the hospitality sector when it emerged the change to the tax would apply retrospectively. – Sunday Telegraph, 22 July.
Pret A Manger may drop plans for flotation
Pret A Manger could drop its plans for a flotation in the face of a possible £400m bidding war by private equity buyers. Unsolicited approaches from Lion Capital, Bridgepoint and PPM have raised the prospect of a much bigger windfall for the owners. Lion Capital owns Wagamama, PPM owns Chez Gerard and Bridgepoint is the former owner of fitness group Holmes Place. – Mail on Sunday, 22 July.
Travelodge to remove porn from bedroom TVs
Travelodge is expected to announce the removal of all pornographic pay-per-view TV channels from its 20,000 bedrooms, in an effort to become more family-friendly. The plan is likely to cost Travelodge millions of pounds per year in lost revenues. Travelodge's pay-per-view televisions will be replaced by a £10m roll-out of flat-screen TVs with 18 free, family-friendly channels. – Sunday Telegraph, 22 July.
Restaurateur told not to name restaurant after his religion
A Buddhist restaurateur who wants to call his new £1.3m restaurant in Durham Fat Buddha has been told by the city council to choose another name as the name he proposes might be provocative to other Buddhists. A spokesman for the Buddhist Society said the fat buddha is a lucky symbol and no buddhist would be offended by it. – Mail on Sunday, 22 July.
Luminar says smoke ban has had minimal impact
Bars operator Luminar says England's smoking ban, which was introduced on July 1, has had a "minimal impact" on sales and profitability. Although it admitted it is still "too early to discern any real trends". It adds that the recent dismal weather and torrential rain was driving people away from pubs and into its clubs. – Daily Telegraph, 21 July.
Gourmet Burger plan expansion into Scotland
Gourmet Burger plans to open three new restaurants in Edinburgh within the year. It will lanch the first in the heart of the financial district in November. "We've already exchanged contracts on the first GBK site," said Paul Campbell, chief executive of AIM-listed Clapham House Group. – Sunday Herald, 22 July.
By Bob Gledhill