Country pubs under threat from proposals to limit drivers to one pint of beer – For more hospitality stories, see what the weekend papers say
Country pubs under threat from proposals to limit drivers to one pint of beerRead the full article in the Sunday Times >>
Tourism could lead UK growth with government support Research from accountant Deloitte suggests tourism could be one of Britain's fastest-growing industries of the next decade, contributing an extra 3.5% a year to the economy compared with total growth of 2.9%. However, leisure bosses believe the growth would be faster with targeted government support and more proactive measures from the Treasury. Speaking on the eve of British Tourism Week, Whitbread boss Alan Parker called for a reduction in VAT to boost investment and tackle Britain's competitive disadvantage against Western Europe economies that have cut their rates. Parker also believed tourism would fare better as part of a business department than as part of the department for culture, media and sport. VisitBritain chairman Christopher Rodgriguez argued that a modest £10m increase in VisitBritain's £40m budget could be recouped eight times over by the Treasury. Deloitte's research showed that tourism supported one in 12 UK jobs, and would rise by 250,000 to 2.9 million over the next 10 years. However, the tourism trade deficit has rocketed from £3.9b in 1996 to £19.4b now. -14 March, Read the full article in the Sunday Telegraph >> Punch to shake up board to reconnect with shareholders Punch Taverns is to shake up its board in a bid to build bridges with shareholders who were angered by last year's rights issue and who staged a huge protest over director pay at the pubco's annual meeting in December. Senior independent director Fritz Ternofsky - who took much of the flak for the £375m rights issue that was announced weeks after chief executive Giles Thorley said Punch did not need funds - will be replaced by Tony Rice, chief executive of Cable & Wireless Communications. The other director to go will be Mike Foster. - 14 March, Read the full article in the Sunday Times >>
http://business.timesonline.co.uk/tol/business/industry\_sectors/leisure/article7060977.ece
Center Parcs believed to be heading for flotation Analysts believe Center Parcs is moving towards a flotation as it seeks to extend the terms of its loans to gain time to refinance its £1b debt. The holiday parks operator has persuaded a large number of lenders to agree to its proposal to extend its loan terms by two years to October 2013. Michael Cox, an analyst at credit markets firm Chalkhill Partners said: "The capital markets aren't sufficiently recovered to digest a refinancing of this business so they would need to look at other options, such as a flotation. This proposal, if accepted, would buy them the time to consider those options." The group is currently trading well despite the recession. If its proposals go ahead, owner private equity firm Blackstone has promised not to take out any dividends and to use surplus cash to pay off debt or reinvest in the business. - 14 March, Read the full article in the Sunday Times >>
Titanic menus reproduced for memorial cruise
A new cookbook that reproduces the menus that survived the sinking of the Titanic in 1912 will allow 1,300 passengers to follow the cuisine as well as the route of the ill-fated liner on the Titanic Memorial Cruise planned for April 2012. The book, written by ex-restaurateur Yvonne Hume (the great niece of the liner's first violinist) provides the date and intended class for each recipe. First-class diners could choose from 11-course menus that included oysters, roast squab and Waldorf pudding; filet mignons lili and pÁ¢té de foie gras; or the honey-roasted salmon with mouseline sauce that was served hours before the ship sank. Second-class passengers had a choice of plainer fare such as pea soup, baked haddock with sharp sauce, and coconut sandwiches with American ice-cream while third-class travelers had to make do with cabin biscuits, rice soup, beef, potatoes and plum pudding, with gruel for supper. The cruise is being organized by Miles Morgan Travel onboard Fred Olsen's MS Balmoral. - 14 March, - Read the full article in Scotland on Sunday >>
S&N seeks new landlord for Edinburgh pub after customer is shot and stabbed
Scottish & Newcastle has temporarily closed down an Edinburgh pub where a customers was shot and stabbed five days ago. The group said it had removed the current licensee at Jock's Bar and would be advertising for a new landlord as soon as possible. The pub, which was described by locals as 'very rowdy' was cordoned off by police until yesterday following the attack on 24-year-old ex-boxer James Carli, who was shot in the leg, stabbed in the upper leg area, and punched in the head. Two men who have been arrested for the attack have both appeared at Edinburgh Sheriff Court. - 14 March, Read the full article in Scotland on Sunday >> By Angela Frewin
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