Bass favourite in hotels race

Article Abstract:

Bass and Ladbroke are among companies competing to acquire Inter-Continental Hotels, a hotel chain which Saison is selling. Bass is seen as a favorite to secure a deal, since it needs to develop its hotels division which includes Crowne Plaza and Holiday Inns Express. Crowne Plaza hotels could be turned into Inter-Continental hotels, 190 of which Saison operates using management contracts, since they are owned independently. Hilton International would also obtain benefits from acquiring Inter-Continental, so should not be ruled out as a bidder.

Intercontinental Hotels

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Major brewer tops up its war chest

Article Abstract:

Bass is able to make an acquisition worth 1.5 billion pounds sterling, according to Richard North, the company's finance director. The company has made a number of disposals and has returned funds to stockholders. There was speculation that Bass would seek to acquire Greenalls, but no bid has been made public. Bass is involved in hotels and leisure, branded drinks, and retailing, and could expand in any of these three areas. The Asian hotel market is one possible area for expansion.

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