Worldwide briefing

27 July 2004
Worldwide briefing

Essential news from around the world…

Olympic hotels strike threat Hotel workers in Greece are threatening to strike just before the start of the Athens Olympics. The Hotel Workers Association said it was planning to strike on 4 August in a bid to increase wage levels.

Peninsula Hotels recovering from Sars Hong Kong & Shanghai Hotels, operator of the luxury peninsula chain, has reported profits up more than eightfold for the six months to 30 June. Net profts rose to HK$198m (£13.9m), from HK$21m (£1.47m) a year earler when the group was hit by the effects of the Sars outbreak.

Two new hotels for Starwood
The 59-bedroom Hotel Convento do Espinheiro in Evora, Portugal, is to join Starwood Hotels' Luxury Collection. The hotel is part of a 15th-century convent currently being renovated. Starwood has also announced plans for a new 225-bedroom W hotel at Hoboken in New Jersey, USA, at a waterfront site with views to Manhattan.

Strategic buys California hotel Hotel property investment firm Strategic Hotel Capital is to buy the 261-bedroom Ritz-Carlton Half Moon Bay, south of San Francisco, California, for $124.4m (£68m).

Four Atlanta hotels sold for $26m
US real estate investment trust Ashford Hospitality Trust has bought four hotels, with 365 bedrooms between them, from Day Hospitality Group for $25.9m (£14.2m). Day Hospitality Group will continue to operate the hotels, in Atlanta, Georgia.

Sales boost for burger giant McDonald's Corporation, the fast-food giant, has reported a 10% uplift in sales during the three months to the end of June. Revenues increased to $4.7b (£2.6b) while net profits were up by 25% to $590m (£323m).

Kerzner chosen for Moroccan venture
Resort and casino developer Kerzner International has been chosen by the government of Morocco to build and run a proposed $230m (£126m) resort casino near El Jadida, about 50 miles south-west of Casablanca on the country's Atlantic coast. The complex will include a 600-bedroom hotel.

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