Thistle Hotels: room with a view
Article Abstract:
Thistle Hotels has had to reduce the flotation price for its share issue and will raise some 400 million pounds sterling rather than 700 million pounds as planned. The company was affected by recession in the hotel industry following a boom at the close of the 1980s. Thistle is well placed to benefit from an improvement in the cycle in 1996 a there is likely to be a shortage of hotels in London, England, by 20000. The company's operating profit could rise by 22% at 109 million pounds sterling for 1996, according to Merrill Lynch.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
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Lonrho: high cost of hotel split
Article Abstract:
Lonrho plans to float its Princess Metropole hotels concern in Sep 1996. The company has valued Princess Metropole at 700 million pounds sterling and its UK arm, Metropole Hotels, is valued at some 330 million pounds. Lonrho paid 251 million pounds sterling for a 33% stake in Metropole held by Libya and previously sold by Lonrho for 177 million pounds. The stake is valued at 110 million pounds on the market in 1996. The sale would eliminate almost all of Lonrho's debt.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
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Hotel sector reservations
Article Abstract:
The European hotel industry should benefit from longer-term changes such as the move towards sale and leaseback property deals, but shares are not expected to offer very exciting returns in the near future.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 2001
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