Abstracts » Business

Taking comfort in new management

Article Abstract:

Friendly Hotels will sell its office services division and focus on hotels and catering. Tony Potter, previously at Hilton International, became chief executive at Friendly in 1996. Friendly also has the Choice Hotels master franchise for Ireland and the UK, and can grant franchises for Comfort Inns and Quality Hotels. The company should benefit from the location of its hotels outside London, since this is where growth potential is greater. The company's pre-tax profit is forecast at 5.6 million pounds sterling by Panmure Gordon.

Friendly Hotels PLC

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Principal Hotels: a hotel too far

Article Abstract:

Principal Hotels was acquired by its management in 1994. The company focuses on UK provinces where room rates have not risen as they have in London, England. There are also hotels in Copenhagen, Denmark, and one in Amsterdam, Netherlands. Occupancy rates have improved and this should help the company to raise prices. Principal Hotels' pre-interest profit is forecast at 11.5 million pounds sterling for 1996 compared with 8.1 million pounds for 1995 by HSBC James Capel

Principal Hotels Group PLC

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Bowness Leisure: honeypot hotel

Article Abstract:

Bowness Leisure is a UK hotel operator with a property in the Lake District, England. The company has expanded its Burnside Hotel and this increased profits for 1993 to 1994. Timeshare chalets have been sold in the hotel grounds and this boosted turnover. The company's profit for 1994 to 1995 was affected by high interest payments. Average occupancy levels were at 70% in 1995. The company is seeking to increase this to 80%, with room rates rising steadily.

Bowness Leisure

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