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Economic woes hit German hotels
German hotels are continuing to suffer from the country’s economic woes, according to accountants Deloitte & Touche’s half-yearly HotelBenchmark Survey. During the first six months of 2003, German hotels only managed to report growth in revenue per available room (revpar) growth in one month - May - compared with the same period in 2002. There was an average 7% decline in revpar. Worst hit were hotels in Dusseldorf, where revpar was down 26%.
Candlewood sputters
US hotel chain Candlewood has reported losses of $6.8m (£4.3m) in the second three months of this year, compared with $4.3m (£2.7m) at the same point last year. Occupancy decreased by 4.6 percentage points to 74.3%, compared with
78.9% last year. The average daily rate for the quarter was $55.17 (£35), up by just 0.1% increase on 2002. Revenue per available room was $40.96 (£26) for the quarter, down by 5.8% from the second quarter of 2002.
Less-than-smashing time for Greek restaurants
Restaurants throughout Greece have reported takings down by 30%, according to Panayotis Gofas, president of the Greek Federation of Professional Restaurateurs. His comments were made at the 1st Congress of Restaurateurs in Crete, where delegates also blamed high taxes and municipal fees for tough trading in the country.
Ireland sees return of US visitors
The Irish hotels sector has begun to see stronger bookings from the USA, and good weather during August has meant hoteliers in the country are cautiously optimistic for the last quarter of the year. The Irish Hotels Federation said US travellers were starting to book holidays in Ireland again, with bookings for September and into early next year showing signs of recovery. However, the effect on tourism of the Sars outbreak and the war in Iraq meant occupancy as a whole would still be down this year.
War boosts Kuwait hotel sector
Hotels in the Middle East and Africa have reported a dismal first half of year, with occupancy levels down by 8% to just 54%, according to accountants Deloitte and Touche’s HotelBenchmark survey. The Iraq conflict and the Sars outbreak are largely to blame, it found, with nearly 60% of the cities tracked experiencing double-digit declines in revenue per available room. Kuwait and Doha were the only cities to buck the trend, in Kuwait’s case with demand driven by the military build up in the run-up to the Iraq war
Schrager hotel seeks protection
New York hotelier Ian Schrager has filed for Chapter 11 bankruptcy for his Clift Hotel in San Francisco. The 373-bedroom hotel has been suffering, along with the much of the rest of the San Francisco hotel market, since 11 September 2001. The filing is just for the one hotel, which has debts believed to total $57m (£36.2m). Schrager is also understood to be negotiating to refinance four of his other hotels, the Mondrian in West Hollywood, the Delano in Miami Beach and the Royalton and the Morgans in New York.
Wendy's is the latest to test healthier options
Fast-food chain Wendy’s is testing a range of low-fat meals at restaurants in New York, Miami, Philadelphia, Seattle and Columbus, Ohio. In Seattle, the new meals are being promoted by a TV advertising campaign. It follows a lead set by chains such as McDonald’s that have been criticised for contributing to the level of obesity in the USA and have responded by bringing in fresh fruit and other healthier options.
French buy Center Parcs Europe
French leisure group Pierre et Vacances has bought the remaining shares of Dutch holiday village operator Center Parcs Europe for €270m (£187m). Pierre et Vacances has owned half of Center Parcs Europe since 2001 and has bought the remaining shares from UK consortium MidOcean, which will keep the Center Parcs holiday villages in the UK. Center Parcs Europe, which currently owns 15 holiday villages in Europe, will sell seven villages to Japanese investment bank Nomura for €440m (£305m).