M&A activity [big deals/small deals]
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The former Le Meridien Copacabana hotel in Rio de Janeiro, Brazil, has been sold for around R$170m (£54.5m). The 38-floor property is one of the most famous landmarks in Rio de Janeiro and is situated in a prime position overlooking the Copacabana and the Atlantic Ocean.
Posted: 30 July 2009 | 07:00
Enterprise Inns has sold six of its pubs to two companies in the past month. Independent gastropub chain Food and Fuel has purchased four of Enterprise’s London freeholds, while pub chain McGowan’s has picked up the remaining two. The freeholds purchased by Food and Fuel ...
Posted: 22 July 2009 | 15:47
A bad end to the week with news in this morning that the Ritz Carlton and Marriott hotels in Jakarta have been hit by two bomb blasts overnight killing at least nine people and injuring 48.
Posted: 17 July 2009 | 15:37
The Barnsley House boutique hotel and Village Pub near Cirencester in Gloucestershire has been bought by the owners of nearby Calcot Manor for a sum thought to be in the region of £6.6m. The 18-bedroom hotel, which was privately owned by Barnsley House, had collapsed into administration ...
Posted: 15 July 2009 | 08:30
Geronimo Inns has acquired six London-based pubs from Punch Taverns including four freehold and two leasehold properties. The former Spirit pubs include the freehold Northcote in Clapham, the Prince Albert in Battersea, the Elgin in Ladbroke Grove and the Curtain’s Up in West Kensington ...
Posted: 13 July 2009 | 16:52
Pub chain Wear Inns is set to expand its portfolio with the opening of two new bars and the takeover of three more in the pipeline. The North-east-based company has built up a nine-strong portfolio of pubs since its launch in 2006 and has announced plans to increase this to more than 20 sites.
Posted: 09 July 2009 | 12:30
Luxury hotel group Von Essen is looking to double its portfolio after making profits of more than £10m in 2008. The group’s fifth annual report shows its turnover increased 20% from £56.8m in 2007 to over £70.6m in 2008. Gross profit jumped 24% to £60.678m, while net profit ...
Posted: 07 July 2009 | 08:30
Motorway services operator Welcome Break is to take over three former Real Hotel Group (RHG) properties following the company’s collapse into administration earlier this year. The hotels, in Peterborough, Cambridge and Stevenage, will be run by Welcome Break under the Days Inn brand ...
Posted: 07 July 2009 | 07:30
Style Café, the coffee equipment supplier, has today (6 July) combined with its major supplier Crem International AB to form Crem International UK Ltd.
Posted: 06 July 2009 | 16:00
I'm starting with the man in the mirror; I'm asking him to change his ways; And no message could have been any clearer; If you wanna make the world a better place; Take a look at yourself and then make a change.
Posted: 26 June 2009 | 15:18
Hotel and conference venue operator Principal Hayley has picked up two of the failed Real Hotel Group’s flagship properties, agreeing deals to acquire the New Connaught Rooms in London and the Glasgow Central Hotel. The company, which is backed by private equity firm Permira...
Posted: 24 June 2009 | 10:25
Caterer Best for Business participant the Taverners pub in Godshill on the Isle of Wight has been recommended in the Guardian’s "Guide to Summer Pub"s, which isn't bad going. For all the latest in the series see our Best for Business page.
Posted: 19 June 2009 | 14:20
Charles Wells has taken on another nine tenanted pubs from Punch Taverns for an undisclosed sum, following hot on the heels of its recent deal to purchase 17 Punch pubs. The pubs covered by the latest purchase - expected to complete on 30 June - are based across ...
Posted: 18 June 2009 | 14:00
Budget hotel group Travelodge is aiming to secure a £100m war chest to take over going-concern hotels from existing operators, banks and administrators. The company has teamed up with property fund manager Meghraj Properties Limited in a bid to raise £40m of equity...
Posted: 17 June 2009 | 00:01
Orchid Group, the UK’s fifth largest pub operator, has rescued 10 Bar Room Bar sites from administration, securing 200 jobs. The deal, which will allow the unbranded and branded Bar Room Bar sites to continue trading under their existing guise, forms part of Orchid’s strategy ...
Posted: 16 June 2009 | 17:04
Legacy Hotels and Resorts has rescued two Niche hotels from administration bringing the number of properties under its management to 11. The company has taken on management contracts at the Royal Hotel Cardiff and the Wyck Hill House Hotel and Spa in the Cotswolds, which have ...
Posted: 16 June 2009 | 12:33
Embattled pub operator Regent Inns, which yesterday delisted from the London Stock Exchange, has sold seven Walkabout venues to Cavendish Bars group.
The deal, which brings Cavendish’s estate to 34, forms part of Regent Inns’ strategy of disposing of non-core sites ...
Posted: 16 June 2009 | 07:30
The general manager of Mayfair’s luxury hotel the Stafford, has confirmed it is currently in talks with a buyer to sell the property for an undisclosed sum.
The hotel, which has been owned by North-west based brewer Daniel Thwaites since 1995, and is part of Shire Hotels,...
Posted: 15 June 2009 | 17:26
Starwood Capital is currently in negotiations to take over Golden Tulip Hospitality for an undisclosed sum, in a deal that would make it the 11th largest hotel group in the world. The deal would incorporate all assets, franchise and management contracts, as well as the brands Golden Tulip and ...
Posted: 15 June 2009 | 12:13
A round-up of the weekend's news affecting the hospitality industry. News includes: Lloyds makes £450m loss on Admiral Tavern; Reuben brothers make £48m bid for Premium Bars and Restaurants;
Fergus Henderson learns Eritrean cooking to support refugees; Premier Inn launches price war ...
Posted: 15 June 2009 | 10:27
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