Finance
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Identity theft has become a serious problem for businesses that accept debit and credit card payments - making it even more important for hospitality operators to be PCI compliant. Yet, as Daniel Thomas reports, many are failing to get on top of it.
Posted: 18 December 2009 | 13:58
Richard Balfour-Lynn’s hotel group, MWB, is hoping to raise £27.5m through a new share issue in a bid to remedy financial damage done by the recession.
MWB Group Holdings (which owns the Malmaison and Hotel du Vin hotel chains and Liberty retail store and operates 73 serviced office centres)...
Posted: 17 December 2009 | 16:12
Shareholders in recession-hit pub landlord Punch Taverns have voted down the latest remuneration package for the company’s directors, at the group’s annual meeting yesterday. A significant 55% of investors voted against the pay report in protest at what appeared to be an “excessive”...
Posted: 17 December 2009 | 15:54
Profits at restaurant group Clapham House have dropped nearly 20% in the first half of the financial year but the Gourmet Burger Kitchen and Real Greek operator said it was positive about the future as it focused on two “robust” brands. The company, which put its subsidiary Tootsies...
Posted: 17 December 2009 | 11:41
Whitbread expects to exceed expectations for its full financial year after strong performance by Costa Coffee helped to drive a rise in sales for the third quarter. Costa saw an increase of 6.7% in like-for-like sales in the quarter to November 26, with total sales in UK and overseas franchise units...
Posted: 14 December 2009 | 10:32
A round-up of the weekend's news affecting the hospitality industry. News includes: Andrew Coppel to chair Alternative Hotel Group; M&B’s boardroom battle continues; Hugh Osmond on lookout for struggling leisure company;Toptable to launch mobile phone apps and expand coverage; and more...
Posted: 14 December 2009 | 10:16
The Ipswich-based company, Elizabeth Hotels, has been placed in administration, and a buyer is being sort for the business. Also operating under the name of Cavendish Hotels and Elizabeth Estates, the company operates 14 mid-market hotels and inns and 13 pubs...
Posted: 11 December 2009 | 16:33
Story of the week: Gordon Ramsay has saved one of his restaurants from potential liquidation by clearing its tax debt, it was reported this week, and the celebrity chef’s company, Gordon Ramsay Holdings, also announced that it is to close its Boxwood Café at London’s Berkeley hotel next April ...
Posted: 11 December 2009 | 16:03
They say that if you look after the pennies, the pounds will look after themselves. Faced with a global economic downturn, smart operators are using every trick in the book to extract maximum value from their customers, suppliers and business processes.
Posted: 11 December 2009 | 14:03
Travelodge has joined forces with Twenty10 Fund management to launch a £100m development fund to help meet its aim to open 500 new hotels over the next 12 years. The budget hotel chain plans to open an additional 40,000 rooms in the UK by launching a new hotel...
Posted: 11 December 2009 | 11:15
Charlton House Hotel and Spa, the 26-bedroom, four-AA-red-star country house property in Shepton Mallet, Somerset, has been put on the market for £3.5m after its parent company went into administration in June.
Dating back to 1630, the property was bought and refurbished by Roger and Monty Saul...
Posted: 11 December 2009 | 09:00
Celebrity chef Gordon Ramsay has saved one of his restaurants from potential liquidation by clearing its tax debt, it was reported today. The financially-troubled, multi-Michelin-starred chef has cleared outstanding costs and debts on his Gordon Ramsay Plane Food restaurant in Heathrow Terminal 5...
Posted: 10 December 2009 | 14:18
Troubled pub operator Pubs 'n' Bars has gone into administration David Thurgood, Trevor O'Sullivan and Nick Wood of Grant Thornton have been appointed as administrators of the firm, which runs 87 "community pubs" in the South East. The move comes days after the AIM-listed firm requested...
Posted: 09 December 2009 | 10:33
Italian restaurant group Carluccio's today revealed full-year profits had fallen, but said there have been signs of improved consumer confidence in recent weeks.
Adjusted pre-tax profits for the 12 months to 27 September fell to £4.7m from £5.6m last year as costs rose, partly due to a weak exchange rate...
Posted: 08 December 2009 | 11:00
A round-up of the weekend's news affecting the hospitality industry. News includes: hospitality staff at high risk of divorce; chef Gino D’Acampo faces charges after killing and eating rat; sale or refinancing on the cards for Chicago Rock Café ; Starbucks launches ‘flat white’ coffees and more...
Posted: 07 December 2009 | 10:18
Pubs operator Pubs 'n' Bars has asked for its shares to be suspended from trading, ahead of a "clarification of the Group's financial situation". The AIM-listed firm operates around 100 "community pubs", 66 of which are managed and 32 of which are tenanted.
Posted: 04 December 2009 | 11:18
Not long ago it was considered the land of plenty, where cash was as abundant as the searing sun that heated its rooftop pools. But the economic sands of time have caught up with Dubai, and overnight the state has slid into the financial funk that had hitherto only affected the wider world.
Posted: 04 December 2009 | 07:00
Brewer and pub operator Marston's has seen its group revenue fall 3% to £645.1m, while profits slid 13.5% to £70.3m. But despite a tougher year, the company said it had seen signs of improvement in the past few weeks, and described its start to the new financial year as "encouraging".
Posted: 03 December 2009 | 12:14
Anyone who accepts credit or debit card payments must be aware of their obligations under the Payment Card Industry security standard, advises Mark Child, a partner at Kingston Smith Consulting LLP.
Posted: 02 December 2009 | 15:39
A Kilmarnock hotel has launched a publicity campaign offering cut-price events to assure local residents and businesses that it is open for business. The 46-bedroom Howard Park hotel has been knocked by a rumour that the business is closing, fuelled by the fact that the company which owned the property...
Posted: 02 December 2009 | 08:00
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