UK is proving to be a big lure for foreign tourists September 11, 2014 Britain welcomed a growing number of tourists from abroad in the first seven months of 2014, according to figures released yesterday. The Office for National Statistics (ONS) released data that revealed that the number of overseas residents visiting the UK in that period increased by five per cent compared with the same quarter last year. [...]
Gatwick and Heathrow achieve record for passengers in August September 11, 2014 Rival airports Heathrow and Gatwick yesterday announced record passenger numbers for August, as they staked their claims for UK airport expansion plans. Gatwick said passenger numbers using its airport rose to 4.36m in August, up 8.2 per cent on last year, and representing the busiest month in Gatwick’s history. Gatwick also revealed it had handled [...]
Blackstone to sell shares in Hilton hotels September 11, 2014 PRIVATE equity and property giant Blackstone yesterday said it would cut its stake in Hilton Worldwide in the wake of its landmark flotation of the group last year. The group, led by Steve Schwarzman, generated the largest ever paper profit from a private equity deal with its Hilton listing in the US last year. Blackstone [...]
Merkel to meet Valls on growth September 11, 2014 FRENCH Prime Minister Manuel Valls yesterday said he would meet Chancellor Angela Merkel in Germany next weekend to discuss growth. He said: “Growth is too weak in Europe. We need to stop austerity policies and do everything to encourage investment.” His visit comes two weeks after his sacked economics minister Arnaud Montebourg said that Germany was [...]
Ashmore hit by weaker foreign currency and poor performance September 11, 2014 EMERGING markets fund manager Ashmore Group yesterday said profits dropped by more than a third this year due to a fall in the amount of money it manages for customers and the strong pound. The business, founded by billionaire investor Mark Coombs, is a specialist manager of shares in emerging market, a region hit by [...]
London hotel rates close to £150 as bookings pick up countrywide September 11, 2014 LONDON hotels have enjoyed a profitable start to the year, with 80 per cent occupancy and average daily rates of £136.60. Analysis from PwC found revenue per available room (RevPAR) in the capital rose 5.5 per cent in the first six months, to £87.30. But London hoteliers could be in for even better takings, PwC [...]
West End landmark Trocadero to be turned into budget hotel September 11, 2014 THE TROCADERO in Piccadilly is to be given a makeover after Europe’s largest hotelier Accor announced yesterday it had struck a deal to turn the famous West End landmark into a budget three-star hotel. Owners Criterion Capital, run by property magnate Asif Aziz, have already begun work on redeveloping the building into a 583-room hotel, [...]
CME poaches NYSE’s Amsterdam chief exec September 11, 2014 THE NEW York Stock Exchange’s Amsterdam arm lost its chief executive yesterday as rival CME Europe hired Cees Vermaas yesterday. CME has expanded aggressively in Europe in recent years and wants the industry heavyweight to help it keep on growing.
Service industry looks to an improved Britain September 11, 2014 BUSINESS SERVICES of the year In uncertain times, companies that are willing to try something different – be that a new management team, an innovative business structure or a better use of technology – are those that tend to succeed. Our choices come from the transport sector, catering, white-collar recruitment, online professional networking and management [...]
Southeastern chuffed as it keeps franchise September 11, 2014 RAIL AND bus operator Go-Ahead received a boost yesterday as its majority-owned Southeastern train company had its franchise renewed for another four years. Southeastern, run by the Govia joint venture between Go-Ahead and France’s SNCF-owned Keolis, will keep its routes between London, Kent and some areas of East Sussex until June 2018, the government said [...]