Worldwide briefing
Essential news from around the world…
Spanish exhibition
French-owned contractor Elior has won a 10-year deal to cater at the IFEMA exhibition centre in Madrid, Spain. It will take over the management of 30 restaurants and bars in eight pavilions. Turnover on average will be more than euro 15m (£8.6m) a year.
Real progress
Bass Hotels & Resorts and Grupo Real, its partner in central America, have opened their seventh hotel in the region. The new 240-bedroom, 15-storey Hotel Inter-Continental Guatemala, is in Guatemala City.
Sodexho Marriott profits rise
US contract caterer Sodexho Marriott Services has reported a 6% hike in net profits to $63.4m (£43.6m) for the year to 1 September. Revenue was up by 5% to $4.73b (£3.25b).
Interstate shareholders OK Lehman deal
Shareholders in Interstate Hotels, the 160-strong US group, have approved a $30m investment and the formation of a joint-venture with an investment group led by Lehman Brothers. Interstate directors earlier rejected an unsolicited $28.8m offer from Shaner Hotels.
Bigger Apple
New York's eating-out market is stronger than ever, according to the latest survey from Zagat. New Yorkers ate out on average 3.6 times a week, against 3.2 times a week last year. They spent nearly 6% more per meal, at $35.14 including one drink and a tip.
Axe to fall on Sydney hotels
A spate of conversions to residential use of hotels built in the 1960s and 1970s is set to strengthen the fundamentals of the hotel market in Sydney, Australia, according to agent Jones Lang LaSalle. Under current plans, a total of 823 bedrooms will be removed from the city's Kings Cross district, representing 30% of room supply.
