Recession
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The relationship director (hotels) for Lloyds TSB has said that the bank is open to hotels - for the right business. "It is a myth to say that we are not open to lend money, but certain criteria have to be in place....
Posted: 14 July 2010 | 12:13
The recovery in the catering industry is starting to falter as confidence falls in the wake of the Government's austerity measures. The latest data from the Markit/CIPS purchasing managers' index (PMI) showed that the service sector...
Posted: 06 July 2010 | 14:38
The Sodexo-operated restaurant in the Scottish parliament faces closure because too few MSPs eat there to make it a going concern, it has been claimed.
The Scottish Parliament Corporate Body is said to be considering the closure of the taxpayer-subsidised fine-dining restaurant...
Posted: 08 June 2010 | 17:57
A round-up of the weekend's news affecting the hospitality industry. News includes: Debt-ridden Travelodge owner could be forced to flog off assets; buyers queue up as Maybourne Group seeks debt deal; Young’s gears up for World Cup boost to business and more….
Posted: 07 June 2010 | 10:33
The Government has unveiled plans to shave £600m from the cost of quangos as Chancellor George Osborne announced a package to cut spending by £6.2b. However, a Treasury document detailing the cuts published today gave little detail on whether local tourism boards would suffer.
Posted: 24 May 2010 | 16:01
Topics covered in our weekly Infozone briefing include: recession heralds the blues; 'brutal' NHS cuts on the way; and 5% pay reduction for ministers.
Posted: 21 May 2010 | 10:37
Britain's eating-out market edged ahead in April with a 0.7% growth in like-for-like sales as trading conditions remained tough. Total sales climbed 2% for the month on the same month in 2009, according to the monthly Coffer Peach Business Tracker, which follows the fortunes of 15 major pub and restaurant operators
Posted: 18 May 2010 | 12:59
Dragons’ Den star Duncan Bannatyne has been confirmed as the new owner of the four-AA-red- star, 26 bedroom Charlton House hotel in Shepton Mallet, Somerset. His company, the Bannatyne Group, has purchased the property from administrators BDO, safeguarding the jobs of all 62 staff.
Posted: 05 May 2010 | 10:45
The number of hotel companies going bust during 2009 soared by 61% compared to the previous year, according to accountancy firm Wilkins Kennedy.
Hotels which went into liquidation, receivership, administration and company voluntary arrangements rose to 122, up from 76 in 2008.
Posted: 04 May 2010 | 14:48
Lee Manning, reorganisation services partner at Deloitte, told Caterer that the drop was unexpected, and indicated that the UK economy could finally be turning a corner. "I think it is very encouraging. The numbers are lower even than they were in the comparison 2006/07 period," he said.
Posted: 22 April 2010 | 14:15
One in five adults watching the football World Cup 2010 will do so in the pub, according to research by PricewaterhouseCoopers (PWC). Meanwhile the British Beer and Pub Association has estimated that a good run by England could be worth an extra £124m to the pub industry.
Posted: 01 April 2010 | 10:54
Topics covered in our weekly Infozone briefing include: jobs saved by flexible working: lack of skills remains a big concern for UK companies; and firms wasting 8% of payroll costs on inefficient pay policies.
Posted: 26 March 2010 | 14:38
Charlie Trotter, one of the United States’ best known chefs, has been hit by the recession with the closure of his two restaurants in the Palazzo Resort, Hotel & Casino, Las Vegas. Despite receiving critical success – Restaurant Charlie received a Michelin star...
Posted: 22 March 2010 | 18:05
The Government’s policy on interest rates and exchange rates has created a two-speed hospitality economy which has seen London keep its head above water while pubs, restaurants and bars in the rest of the country have struggled. That’s the view of Davis Coffer Lyons director Trevor Watson...
Posted: 19 March 2010 | 14:06
The headline stories from this week's Infozone briefing include: employers relying on DRA to force staff to leave the workplace; more people working unpaid overtime to help firms recover; involve staff in cost savings and you'll save money, claims report
Posted: 05 March 2010 | 16:47
Topics covered in Infozone's weekly briefing include: workforces could take 'several years' to recover from recession: employers should do more to help the jobless, say HR chiefs: use online accounting tools, hospitality operators advised.
Posted: 24 February 2010 | 10:39
Barracuda Group has posted a £336,000 pre-tax loss on a turnover of £33m for 2009. The firm, which manages pubs under the Smith & Jones, Varsity, Barracuda Bar, Juniper and Cape brands warned that the pub industry continued to face "considerable challenges" due to the recession ...
Posted: 15 February 2010 | 17:24
In this week's Caterer and Hotelkeeper - and on our sister website, Caterersearch.com - we catch up with recently crowned two-Michelin-star chef Brett Graham of the Ledbury in London. Trade, which continued to be solid for the restaurant through 2009, has of course been enhanced in the past few weeks...
Posted: 12 February 2010 | 12:16
As many as 40 hotel companies could go into administration in the first quarter of 2010 alone, an insolvency expert has warned. The prediction comes as official insolvency figures showed a 161% increase in the number of hotel firms falling into administration in 2009, compared with 2008.
Posted: 10 February 2010 | 15:07
Hospitality and food and beverage industry bosses are more optimistic about recovery in the sector than they were 12 months ago. That's the result of a survey of 311 executives by London-based management Allegra Strategies. But senior industry figures were still cautious about the prospects for 2010...
Posted: 03 February 2010 | 10:32
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