Earlier today Reuters reported that shares in French hotels giant Accor had risen in early trading by 1.9% after the Le Figaro newspaper ran a report that saying Accor was eying a merger with IHG. Le Figaro’s report stated that the Accor board was in favour of such a deal but CEO Sebastien Bazin was more cautious and no contact had been made with InterContinental … [Read more...]
Diageo acquisition points to online growth
Diageo has acquired the Aviation American Gin, Astral Tequila, Sombra Mezcal and TYKU Sake brands through the $610 million purchase of Aviation Gin LLC and Davos Brands LLC. The price agreed for the sale sees $335 million paid initially with a further $275 paid on ten year performance of the brands. Diageo acquisition online growth It is the second time in recent … [Read more...]
Rishi Sunak enthusiastic and Cyrus Todiwala extending ‘Eat Out to Help Out’
Rishi Sunak has announced that over 35 million meals were bought using his ‘Eat Out to Help Out’ initiative in the first two weeks of August. Consumers across the UK have been keen in taking advantage of the initiative and as such hospitality businesses benefited. The Treasury and HM Revenue & Customs overseeing the roll out of ‘Eat Out to Help Out’ have released numbers … [Read more...]
Cycas announce new hires to fuel European growth
Cycas Hospitality has made new five operational and commercial hospitality hires to help further support its European expansion plans. Operational recruits Michael Mason-Shaw joined Cycas in June as General Manager for the operator’s newest London property; Hyatt Place London City / East (opening March 2021). With over 20 years’ experience opening and managing properties … [Read more...]
Pizza Express issues statement on CVA confirming closure of 73 restaurants
As previously announced on 4 August 2020, Pizza Express today formally launched a proposal to reduce its UK restaurant estate and rental cost base via a company voluntary arrangement. The CVA is intended to improve the operational performance of the business against the backdrop of a challenging trading performance, difficult market conditions caused by the COVID-19 crisis and … [Read more...]