Leisure Report articles from December 2007

Leisure Report archives from December 2007

CGT changes may create a brief window for M&A deals.
December 1, 2007... Changes to the capital gains tax (CGT) regime outlined in the pre-Budget report could lead to a flurry of deals at the smaller end of the sector, as more company owners and entrepreneurs move to sell their businesses before the new rules come...

Economies of scale to drive M&A in gyms.
December 1, 2007... Individual or standalone gyms will find it increasingly hard to match the financial and operational economies of scale of larger chains in the European fitness market, according to the IHRSA European Market Report 2007. The research found...

Making census of things ...(Inside track)
December 1, 2007... The Leisure Report Awards generally force me to look back over the past 12 months and take stock of how far our industry has come, the challenges it has faced down, and the barriers still ahead. And while it is true, our sector has come a long...

It's a kind of magic: the 2007 LRAs brought together some of the industry's finest for a celebratory night--we reveal this year's winners, ahead of a special feature next month.(Insight: LRA 2007)(Awards list)
December 1, 2007... It was a magical night for Merlin Entertainments, after the company picked up the Operator of the Year trophy at this year's Leisure Report Awards. The outstanding performances across the leisure industry over the past 12 months were rewarded...

Hilton and Precor aim for a perfect fit in fitness: the Hilton Fitness by Precor venture, feted as 'Deal of the Year' at the Leisure Report Awards, is now opening in the UK. Emma-Jayne Sherry investigates the background to the concept.(News: Leisure Report Awards--Deal of the Year)
December 1, 2007... The launch of the new Hilton Fitness by Precor facility at London's Park Lane Hotel, the first such facility in the UK, was followed by success at the Leisure Report Awards, as the joint venture picked up the 'Deal of the Year' trophy,...

Obesity: epidemic levels by 2050.(News: Health & Fitness)
December 1, 2007... The reality of the growing obesity crisis in Britain has been emphasised by a new study, which estimates that more than half of adults and a quarter of children will be excessively overweight by 2050. The report, backed by the government...

Health Force in insurance JV.(News: Health & Fitness)
December 1, 2007... Health Force, the specialist supplier of discounted gym membership has joined forces with Norwich Union Healthcare to launch an exclusive website for the healthcare provider's customers and employees. Health Force has created the ID protected...

SHOKK estate expands.(News: Health & Fitness)
December 1, 2007... Children's gym specialist SHOKK has opened Gloucestershire's first dedicated youth fitness gym, in addition to signing up its first franchisee. The new gym facility at Dursley Pool is funded by Stroud District Council, and has been...

Virgin Active plans float.(News updates)
December 1, 2007... Sir Richard Branson is in talks with more than half a dozen potential advisers over a 1bn [pounds sterling] float of his Virgin Active gym chain, which owns 167 clubs in Italy, Spain and South America as well as Britain, on the London stock...

DLL targets lifeguarding.(News updates)
December 1, 2007... David Lloyd Leisure has embraced pool safety as a core company objective by making each of its 60 clubs IQL Approved Training Centres. DLL currently employs over 500 lifeguards and is working in partnership with the IQL, which implements and...

Dalesauna supplies Harbour Club.(News updates)(Dalesauna to contract with Harbour Club)(Brief article)
December 1, 2007... Dalesauna, the UK's leading supplier of sauna and steam rooms, has won the contract to supply the Harbour Club, Chelsea. The new spa includes nine treatment rooms with an additional specialized wet treatment room area. Dave Spencer, deputy...

Cannons boxing clever.(News updates)(Cannons to launch its first boxing area )(Brief article)
December 1, 2007... Cannons has launched its first dedicated boxing area in conjunction with Escape Fitness at its club in the City of London. The chain said boxing is proving increasingly popular among City workers, particularly as a stress reliever, and the...

Gym tax threatens active targets.(News: Key issues)
December 1, 2007... The government's own targets for increasing the active population are coming under threat from the new proposed gym tax, according to joint research by The Leisure Database Company (TLDC), official data suppliers to the fitness industry, and...

South Lakeland caravan park sold for 125m [pounds sterling].(News: Keys issues)(Brief article)
December 1, 2007... White Ocean Leisure, a new company backed by Mountain Capital, the property investment vehicle owned by the Landesberg and Rosenberg families, has acquired the South Lakeland Group from LGV Capital for 125m [pounds sterling]. The existing...

Top Ten adds its voice to industry outcry over bingo tax.(News: Key issues)
December 1, 2007... Top Ten Holdings, the UK bingo operator, has joined in the growing cry for a re-assessment of the industry's taxation regime, which continues to require bingo clubs to pay both VAT and Gross Profit Tax (GPT) on revenues, whereas harder gambling...

Glasgow wins Commonwealth Games in 2014.(News: Sport)(Brief article)
December 1, 2007... Glasgow has won its bid to stage the 2014 Commonwealth Games. Some 90% of the facilities needed to stage the 288m [pounds sterling] event are already in place, but it is hoped that the Games will help regenerate the east end of the city....

Blades figures upbeat despite relegation.(News: Sport)
December 1, 2007... Sheffield United said all its business units recorded strong performance and demonstrate potential for growth, as the football and leisure services business announced preliminary results for the year ended 30 June 2007. Turnover increased...

Loss widens on tough trading at Soccercity.(News: Sport)
December 1, 2007... Socceroity, the Aim-listed group which has now refocused to become solely an operator of football centres in Yorkshire, said trading in the first half of 2007 was "very difficult". The firm posted a pre-tax loss of 322,000 [pounds sterling],...

Nash eyes Spurs.(Steve Nash to buy Tottenham Hotspur)(Brief article)
December 1, 2007... Us basketball player Steve Nash has expressed an interest in buying Tottenham Hotspur, according to reports. Nash is understood to be interested in forming a consortium to approach the AIM-listed club, The Guardian reported. ENIC owns 68.3% of...

England set to bid to host 2018 World Cup.(Brief article)
December 1, 2007... The Prime Minister has welcomed the decision by the FIFA Executive Committee to allow England to bid for the 2018 World Cup, and said the Football Association would have the full weight of government support behind any bid. Gordon Brown said:...

Watford posts profit.(Financial report)(Brief article)
December 1, 2007... Watford Leisure swung to full-year pre-tax profit on higher revenues, and said there is still 4.1 m[pounds sterling] in deferred payments to be made in respect of players acquisitions during last season. Pre-tax profit for the year to June 30...

Newbury rejects 33.5m [pounds sterling] bid.(Brief article)
December 1, 2007... Newbury Racecourse has rejected a 33.5m [pounds sterling] takeover bid from GPG Group, its biggest shareholder, saying that it undervalues the business. GPG, which owns around 20% of the company, made the offer and it said it had no faith in...

Talks continue for L&G.(Leisure & Gaming)(Brief article)
December 1, 2007... Leisure & Gaming, the listed gaming group, said it is still in potential offer talks entered into with parties after the termination of discussions with CGTV Games. The company also said it is in a strong position to deliver value to...

William Hill fails in Ladbrokes FD approach.
December 1, 2007... William Hill is understood to have failed in an attempt to hire Brain Wallace, finance director at rival Ladbrokes, as its new chief executive.

Sunny outlook for PBTY.(Brief article)
December 1, 2007... Probability, the mobile phone gambling specialist, has entered into an agreement with News Group to provide it with branded real money casino, slots and line bingo games. The games will be branded for The Sun and available for download on the...

Telephone high rollers ring in 84% rise in profits for Ladbrokes.(News: Betting & Gaming)
December 1, 2007... Reporting figures for the four months ended 31 October 2007, Ladbrokes said profit from continuing operations, before interest and tax, and excluding results from its Vernons operation, was up 84%, reflecting continued contribution from...

NETeller upbeat although profits plunge.(News: Betting & Gaming)(Financial report)(Brief article)
December 1, 2007... NETeller, the Isle Of Man-based online payment processor, announced that it is targeting alternative markets and making solid progress, despite its third quarter results showing an operating loss of $146m (72m [pounds sterling]). The firm...

888 enjoys 'best month' since US exit.(News: Betting & Gaming)
December 1, 2007... 888 Holdings, winner of 'Best Betting & Gaming Company' sponsored by Capitis Partners, at the Leisure Report Awards2007, has reported a37% rise in net gaming revenue to $52.2m (25.3m [pounds sterling]) for its third quarter and said that...

Upbeat PartyGaming reports 24% rise in third-quarter revenues.(News: Betting & Gaming)(Financial report)
December 1, 2007... PartyGaming, the online gaming operator, has reported a 24% increase in third quarter revenues, to $115.7m (56.47m [pounds sterling]) and said it remains confident about prospects for the full year and beyond. The group's performance for...

32Red sells Betdirect business to Stan James.(News: Betting & Gaming)
December 1, 2007... 32Red has announced it is to sell its Betdirect brand to Stan James for 5.75m [pounds sterling]. The company said it would use the proceeds of the sale, which comes after a strategic review of potential business development opportunity for...

Playtech reports a record--breaking 81% rise in revenues.(News: Betting & Gaming)(Financial report)
December 1, 2007... Playtech, the online gaming operator, has reported an 81% increase in revenue for the third quarter to $26.9m (13.4m [pounds sterling]). Revenue from its casino games totalled $19.2m, while revenue from its fast-growing poker network came...

Correction: Top Ten Holdings.(News: Betting & Gaming)(Correction notice)
December 1, 2007... Last month, we reported that Top Ten Holdings, the UK bingo operator, had delayed publication of its half-yearly results for the six months to 30 June 2007, as it was in discussions to sell its BetDirect business. Top Ten has not delayed...

Like-for-likes up 1.8% as Luminar shrugs off smoking ban fears.(News: Cinema & Entertainments)
December 1, 2007... Luminar, the quoted nightclub group, which operates the Liquid, Oceana, and Lava & Ignite chains, has reported a 1.8% increase in like-for-like sales across its dancing division for the first eight weeks of the second half of its financial...

Vimac places six clubs on the market.(News: Cinema & Entertainments)(Brief article)
December 1, 2007... A total of six nightclubs owned by north-east operator Vimac have been placed on the market The sites--three freehold and three leasehold--are located in Hexham, Rotherham, Durham, Kendal, Chesterle-Street and Middlesbrough. The sites...

Film festivals get funding boost.(News: Cinema & Entertainments)
December 1, 2007... Film festivals across the UK will be part of a new 4.5m [pounds sterling] drive to raise the profile of British film, James Purnell, culture secretary announced. The UK Film Council is making available 1.5m [pounds sterling] a year of...

50% of cinema screens to go digital by 2013 says Dodona.(News: Cinema & Entertainments)(Report)
December 1, 2007... Half of worldwide screens will be digital by 2013, according to a new report by cinema analysts Dodona Research. 2007 has seen an explosion in digital conversion with more than 4,500 screens, or some 5% of the global total, switching to...

Tourism industry attacks VisitBritain cuts.(News: Tourism & Attractions)
December 1, 2007... The government has announced that it will cut its funding for VisitBritain by 18% over the next three years, despite industry body warnings that without a modest increase in financing the country will not benefit fully from the 2012 Olympics....

Inbound UK visitors drop as dollar bites.(News: Tourism & Attractions)
December 1, 2007... The number of inward visitors to the UK fell by 10% in the last quarter, against a rise of 3% in the previous quarter, according to the Office for National Statistics. The figures, which are not seasonally adjusted, saw a 10% fall in...

Thomas Land at Drayton Manor.(News: Tourism & Attractions)(Brief article)
December 1, 2007... [ILLUSTRATION OMITTED] Europe's first Thomas Land will open at Drayton Manor Theme Park, near Tamworth, Staffordshire, in 2008, following the success of Japan's version. The 4.5m [pounds sterling] development, based on the popular Thomas...

Frankie & Benny's spurns cinema site openings.(Brief article)
December 1, 2007... The Restaurant Group (TRG), the casual dining company behind brands such as Chiquito's and Garfunkers, is set to open a Frankie & Benny's restaurant at the 20m [pounds sterling] Parkway mixed-use development in Chelmsford, Essex. The group,...

O'Briens to rebrand estate.(Brief article)
December 1, 2007... O'Brien's, the Irish sandwich chain, is set to rebrand all of its 300 stores, after successfully trialing a new all-day cafe concept in half of its 100 UK sites. The company said that the 50 stores used for the trial reported an average 14%...

Welcome Break for sale.(Brief article)
December 1, 2007... Bahrain-based private equity company Investcorp has put Welcome Break up for sale for around 500m [pounds sterling], the Financial Times reports. The motorway service operator is the second biggest in the UK behind Mote. In February this year,...

M&S to rebrand Revive.
December 1, 2007... Marks & Spencer is to rebrand 60 of its Cafe Revives as M&S Cafes by the end of this year. The company, which currently operates around 220 Cafe Revives, said that the upgrades were part of a modernisation programme.

McDonald's reports 6.4% global sales rise.(News: Food & Drink)
December 1, 2007... McDonald's, the US fast-food giant, has reported a 6.4% rise in comparable sales across its European business in October, driven by France, Russia and the UK. The company said that its strong performance in the region was due to a...

Coffeeheaven sees 20% H1 sales rise.(News: Food & Drink)(Financial report)(Brief article)
December 1, 2007... Coffeeheaven, the Aim-listed coffee bar operator, reported a 20% increase in like-for-like sales for the six months to 30 September. Turnover was up approximately 60% to 7.1m [pounds sterling] compared to the previous year, while cash...

Ebitda rises 29% as Nero looks overseas.(News: Food & Drink)
December 1, 2007... Caffe Nero, the privately-owned coffee bar operator, released full-year results, showing a 29% surge in underlying profits and like-for-like sales growth of 4% across its estate. The group has also opened its first site in Turkey through a...

Coffee Republic signs Scottish franchising deal.(News: Food & Drink)
December 1, 2007... Coffee Republic, the quoted coffee and dell bar operator, has announced it has signed a franchise agreement to open branded care units in 25 New York-style dell stores in Scotland. The company has signed an agreement with McLeish Brothers,...

120m [pounds sterling] Filey resort challenges the caravan park market boundaries.(News: Property & Development)
December 1, 2007... A new coastal holiday village, which could inject new life into Yorkshire's ailing leisure industry, as well as challenging the boundaries of the static caravan park market, is taking shape. The Bay at Filey is a 120m [pounds sterling]...

36m [pounds sterling] boost for LB Harrow.(News: Property & Development)(Brief article)
December 1, 2007... The London Borough of Harrow is to receive a 36m [pounds sterling] investment in leisure facilities, including a brand new leisure complex at Byron Park. The leisure centre will replace the existing 40-year-old Harrow Leisure Centre, and...

Sheffield United looks to sell its Thames fitness club.(News: Property & Development)(Brief article)
December 1, 2007... Christie + Co, the propety agency, has been instructed by Sheffield United FC to market for sale its purpose built health & fitness club--The Thames Club, based in Staines, Surrey. Occupying a site of some 10 acres, The Thames Club was...

750,000 [pounds sterling] upgrade for DC Leisure sites in Wiltshire.(News: Property & Development)
December 1, 2007... North Wiltshire District Council is rolling out an extensive refurbishment programme across all four of its leisure centres. An investment of 750,000 [pounds sterling] is being made by the council through a rolling capital improvement fund....

Detailed planning consent for 10m [pounds sterling] Widnes scheme is green-lighted.(News: Property & Development)
December 1, 2007... Detailed planning consent has been granted to allow Widnes Regeneration, the joint venture between St Modwen Properties and Halton Borough Council, to press ahead with the 10m [pounds sterling] Venture Fields leisure centre project in Widnes...

UK market leads European M&A activity.(News: Industry)(Report)
December 1, 2007... The UK's share of deals in the hotel, foodservice and leisure sectors outstripped all other Western European countries, with 42% in deal volume and 80% in value terms for the first half of the year, according to research by PKF. The study,...

Credit crunch 'will not affect most companies'.(News: Industry)(Brief article)
December 1, 2007... Two-thirds of companies (66%) with an annual turnover of at least 10m [pounds sterling] believe they are adequately geared or even under-geared, according to research from Investec Private Bank. By contrast, only 14% of companies admit they are...

Smoking ban compliance high as checks ease.(News: Industry)
December 1, 2007... The majority of premises in England inspected in the first three months of the smoking ban's implementation have complied with the new legislation, according to the latest figures. However, visits by enforcement officers have eased off...

Only 3% of UK mergers 'succeed'.(News: Industry)
December 1, 2007... Just 9% of mergers and acquisitions in Europe over the past three years have achieved their stated objectives, according to research from management consultancy Hay Group. The survey of 200 business leaders found that under a third (28%) said...

Armour leaves Penta for Lloyds VC.(News: Industry)
December 1, 2007... Craig Armour has left Penta Capital, the private equity backers of Geronimo Inns and EAT, to join the venture capital arm of the UK banking group LIoydsTSB--LloydsTSBDevelopment Capital (LDC). Armour will head up the group's leisure...

UK hospitality sector worth 106bn [pounds sterling].(News: Industry)
December 1, 2007... The UK's hospitality industry is now worth 106.9bn [pounds sterling], according to the British Hospitality Association's (BHA) Trends and Statistics 2007. According to the report, the industry is worth 4.9bn [pounds sterling] more than...

Making fun a fundamental: having fun is easier to sell than exercise, says David Minton, so is it time for the industry to re-position its core offering or look to its marketing messages?(Insight)
December 1, 2007... I have seen and driven the future and its called Prius. I used to call it a milk float but I take it all back. In 10 years Toyota have sold one million of these hybrid cars and now they are common currency in London, as you don't have to pay...

Are you talking to me? Andy Wood, managing director of GI Insight, says the leisure industry topped a recent customer satisfaction poll, but more improvements can come from clever direct marketing.(Insight: Direct marketing)
December 1, 2007... The long working-hours culture in the UK has led many people to adopt a positive attitude towards work-life balance and consider it necessary to use leisure time for enjoying themselves. In addition, high disposable income and low unemployment,...

Kosovo's last resort: Phil Cain reports from Kosovo, eight years after Nato intervened in the region to end ethnic conflict, where the hopes for a recovery in the tourism sector are focussed on skiing.(Insight: Eastern Europe)
December 1, 2007... At first sight, Brezovica, a Serb enclave in the Sharr mountains in the south of Serbia's breakaway province of Kosovo, does not offer much hope of winter fun. Nato's'Lion' military route leads you past burnt-out houses of expelled...

Increase your retention span: Graham Ede says the link between customer loyalty and shareholder value has never been more clear, and as ever, knowing your customer is the key.(Insight: Loyalty & shareholder value)
December 1, 2007... As the world becomes generally more mobile and less loyal, much effort is now devoted to predicting which customers are likely to defect, as well as building strategies to stop them doing so. A report just published on the subject reveals that...

Fuelling the Olympic flame: CMS Cameron McKenna's Simon Jeffreys discusses the most effective methods of building staff retention ahead of the 2012 Olympic Games.(Legal: Staff retention)
December 1, 2007... Concern about staffing in the run up to the 2012 London Olympic Games is beginning to mount in the hospitality sector. The retention of skilled staff is already becoming an issue as staff are being poached to secure a first class service to...

Buying into Dubai: Domininc Walsh says the positive focus of sports developers in Dubai could see the destination outstrip its Western rivals within a few years.(Behind the headlines: Developing Dubai)
December 1, 2007... Dubai is a place that trades in superlatives. Everything has to be the biggest, the tallest, the most luxurious, the most expensive: in short--the best. So when the emirate decided it wanted to excel in the field of sport, it decided to build...

The International Health, Racquet & Sportsclub Association.(People on the move)
December 1, 2007... [ILLUSTRATION OMITTED] The international Health, Racquet & Sportsclub Association (IHRSA) has selected the man who started its international development programme to become its new European Director. Hans Muench will re-join the IHRSA team...

Sport England.(People on the move)
December 1, 2007... Cathy Hughes, senior client manager at Sport England, has taken up the role of sport participation and legacy manager at the London 2012 Organizing Committee (LOCOG). Hughes has been seconded to LOCOG for six months and will focus on making...

The energie Group.(People on the move)(Darran Morford to join The Energie Group)(Giles Webber to be promoted in The energie Group)(Brief article)
December 1, 2007... The energie Group announced that Darran Morford is joining the firm as managing director of the energie Personal Fitness franchise division. In addition, Giles webber has been promoted to managing director of the England and Wales region, a new...

Alton Towers.(People on the move)(Morwenna Angove to join Alton Towers)(Brief article)
December 1, 2007... Morwenna Angove has been appointed sales and marketing director for Alton Towers. In a newly-created senior management role, Angove will be responsible for developing the marketing and sales strategy for all parts of the Alton Towers Resort,...

Sport England London Regional Sports Board.(People on the move)
December 1, 2007... John Brewer has been appointed as the new chair of the Sport England London Regional Sports Board for a three-year term from 29 October 2007 to 28 October 2010. Ken Livingstone, London Mayor, said: "I welcome John's appointment as chair of the...

Leisure & Gaming.(People on the move)
December 1, 2007... Leisure & Gaming, the online betting and gaming group, has appointed Stuart Doyle as its gaming director. In this capacity', he will have overall responsibility for all bookmaking and risk management activity of the company. Doyle has held...

LR Index leisure stockwatch November 2007.(Sharewatch)(Statistical table)
December 1, 2007... It is the nature of monthly financial updates to only show a part of the overall picture. Unfortunately, this month's share prices were updated the day after England had crashed out of the European Championship finals, and with them, the last...

Diary dates: Dec/Jan.(Calendar)
December 1, 2007... December Event: Mind Body Soul Exhibition Date: 1-2 Location: Linton, Cambridge, UK Description: Expo featuring aromatherapy and reiki to reflexology and yoga, plus lectures, workshops and stage demonstrations. Contact: +44...