PwC Offers up new Advance Deposit system for London Olympics

UK hotels and restaurants looking forward to steady cash inflows from advance bookings for the 2012 London Olympics could be disappointed under a new delayed payment structure being employed by PwC.

The accountancy firm’s legal arm has established an escrow system for a handful of European Olympic committees who have signed contracts for hotel rooms or dining venues at the games.

Under the system, the PwC clients deliver the agreed down-payments into accounts administered by the firm. The venues can see the money is there, but have no access to it.

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Festival Inns places non-core assets on the market

Festival Inns, the Edinburgh-based hotel and bar operator, has placed a number of its assets on the market after deciding to focus exclusively on its major managed outlets.
The company has grown via acquisition since its launch in 1997 and now has seven hotels and 13 bars in its estate.
After conducting a strategic review, it has placed a number of Edinburgh assets including the Hudson Hotel, Biblo’s Bar, the Jazz Bar and Day Nurseries on the market through property agent Jones Lang
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Leadbitter to enter budge hotel sector (UK)

UK-based contractor Leadbitter is the latest construction company looking to benefit from the buoyant budget hotel sector.
Bob Rendell, Leadbitter Group's chief executive, said the company is hoping to build on its experience in the student accommodation sector in its attempts to enter the hospitality market.
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Beach Hut Resorts Concept to Roll-Out Across the UK

A pilot scheme to build twenty one luxury beach huts is now to be rolled out throughout the UK in an exciting GBP35m expansion plan. Each beach hut will sleep four to six people, with a separate bedroom, fully fitted kitchen, bathroom, sitting area and 24 hour concierge service. Beach Hut Resorts have declared their first luxury beach hut development to be in WhitleyBay, offering 24 hour overnight accommodation with full service facilities, 11 months of the year

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Britannia Hotels back in profit and expects to defy downturn

Britannia Hotels Ltd, the privately-owned chain controlled by Alex Langsam, has returned to profit thanks to lower operating costs.The company, which owns 34 hotels made a pre-tax profit of £889,000 in the year to March 31, 2009, compared with a loss of £3.6m in the prior year, when the group spent heavily on refurbishments. Turnover rose 3.25 per cent to £40.5m.

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New laws on tips and pay in force (U.K.)

New laws have come into force which make it illegal for bars, restaurants and hotels to use tips or service charges to make up a minimum salary.
The government said the change would promote "fairness" and "clarity" for staff, customers and businesses.

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Brighton the worst of UK's 'poor value' hotels

To anyone with a little experience of the world, it will hardly come as a surprise: British hotels are poor value compared to their international counterparts.

While it may not be something that anyone working outside the UK hotel trade needed empirical evidence to confirm, a survey by online outfit hotel.info has found that UK establishments fare badly on value for many ratings compared to dozens of cities worldwide.

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http://www.thisismoney.co.uk/news/article.html?in_article_id=489582

Mid-range UK hotels step up price war

A marketing battle between mid-range hotels in the UK has broken as operators fight to lure the leisure customer pound.
The Advertising Standards Authority Travelodge last month found that Travelodge had misled the public by comparing its £39-a-night rooms to the £65 offer of Express by Holiday Inn, saying it failed to mention that its rival’s price included breakfast.
InterContinental Hotels Group, which owns the Holiday Inn brands, has also entered the fray, sending coaches to Travelodge hotels in London and Birmingham offering customers and staff free breakfasts as a PR stunt.

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http://www.breakingtravelnews.com/news/article/mid-range-uk-hotels-step-up-price-war/

Premium Bars & Restaurants in administration

Industry sources say Premium Bars and Restaurants (PBR) has been placed in administration after the Reuben brothers withdrew a bid for the stricken company

The Reuben brothers, who have £45m invested in the company, tabled a bid for £50m to buy the company. The offer was reduced to £42m last week but was later withdrawn. The move means that the Reuben brothers are effectively walking away from their earlier £45m investment in the company.
It is understood that BDO Stoy Hayward will handle the administration and is likely to appoint Licensing Solutions to oversee the company on an operational basis.

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http://www.morningadvertiser.co.uk/news.ma/article/83945

Britannia Hotels buys Heathlands Hotel out of adminstration

Britannia Hotels has bought the Heathlands Hotel in Bournemouth from its joint administrators Andy Beckingham and Matthew Chadwick of BDO Stoy Hayward LLP for an undisclosed amount. The deal was brokered by property agent Christie + Co.The acquisition takes Britannia's hotel portfolio to 34 properties.

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http://www.propertyeu.info/newsletter/default.asp?id=10153

Buy-to-let group Owner Hotels closes York property

Buy-to-let hotel firm Owner Hotels has closed its property in York, Caterersearch has learnt.
The move comes following reports that the company was on the brink of administration.
Owner Hotels’ Yorvic hotel is not answering calls and, when contacted by Caterersearch, the head office in Hull said property was not taking any more bookings.
Booking agents are also not taking bookings for the property, including booking.com which has put up a statement saying: “We're sorry, but it is currently not possible to make reservations for this hotel.”

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http://www.caterersearch.com/Articles/2009/07/10/328616/buy-to-let-group-owner-hotels-closes-york-property.html

Start Planning your trip to the UK - British Sausage Week 2009 dates announced

The dates have been announced! November 2-8 is officially "Sausage Week" in the UK.

Last year hotels filled up quickly so plan ahead and book early. Some hotels extend an additional discount if you show up, at check-in, wearing a Sausage Costume.

BPEX foodservice trade manager, Tony Goodger, said: "British Sausage Week goes from strength to strength each and every year, which is no surprise given the popularity of this classic menu item. The sheer range of quality sausages now available demonstrates just how much the British love their bangers, making it an opportunity not to be missed. Eye catching point of sale material and new sausage-based recipe ideas will be made available for foodservice establishments, completely free of charge."

RAMSAY ACCOUNTS TELL ONLY HALF UK STORY

The mini-furore that accompanied last week’s filing of the accounts of Gordon Ramsay Holdings (GRH) for the year to August 2008 was, it turns out, entirely misplaced. Newspaper coverage centred on the decline in profits year on year, and we concentrated on why sales were seemingly so much less than GRH had forecast. Now the actual GRH accounts are to hand, however, it is clear that all such commentary – while correct – was beside the point. It was implicit in all the coverage that GRH is the holding company of all Gordon’s UK restaurant interests. In short, everyone assumes GRH is shorthand for “Gordon UK Inc”.

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http://www.hardens.com/restaurant-news/uk-london/06-07-09/ramsay-accounts-half-story-international-2008/

Duke and Duchess of Northumberland seek CEO to run Alnwick Castle

In a development that Karl Marx might have regarded as the final triumph of capitalism over feudalism, the running of some of England’s finest castles is passing from the aristocracy to another class of titled individuals — chief executives.
The latest delegation of ancient inherited powers is taking place at Alnwick, seat of the Duke of Northumberland, power base of the Percy family for 700 years and famous as the setting for the Harry Potter films.

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http://business.timesonline.co.uk/tol/business/article6632245.ece

Hotels outside London continue to struggle in recession

http://www.bighospitality.co.uk/item/3607

As U.K. Hotels See Signs Of Recovery, Budget Chain Scores Funding

Sales at major pub and restaurant chains holding up

Sandwich bar chain O’Briens places UK arm into administration

‘Worst over’ for British hotels as trading improves

Rising costs slash profits at Firmdale Hotels by 64%