Worldwide briefing
Drop in Danubius
Hungarian hotel group Danubius reported a 12% drop in pre-tax profits for 2001 to $15.7m (£11m), against $18m (£12.6m) in 2000. Danubius blamed the effects of 11 September, a rise in the number of hotel bedrooms in Budapest, and a stronger Hungarian forint.
Marriott reverse
Hotel group Marriott International reported a loss of $116m (£81m) in the fourth quarter of 2001, compared with a profit of $149m (£104m) in 2000. Marriott blamed the loss on restructuring charges, the fall in value of assets and the steep drop in travel following 11 September. Revenue per available room fell by 25% during the three months.
No more Nino's
Nino's, the restaurant near New York's Ground Zero that fed rescue workers and policemen free meals of lasagne and meatballs, has closed. Nino's served more than 500,000 meals to those involved in cleaning up the World Trade Center site.
Slump at Orbis
Polish hotel operator Orbis announced a 38% drop in profits to€14.1m (£8.6m) and 12.4% drop in turnover to €184m (£112.4m) in the full year for 2001.
Well done, Wendy's
Quick-service restaurant company Wendy's International recorded a 6.4% increase in turnover in the 12 months to 30 December 2001. Turnover reached $2.4b (£1.6b), compared with $2.2b (£1.5b) in 2000. Pre-tax profit rose by 11.7% to $307m (£215m) against $217m (£151.7m) in 2000.
