Leisure Report articles from February 2005

Leisure Report archives from February 2005

Leisure spend set to slow down.(Hospitality & Leisure Services Review)
February 1, 2005... Increases in interest rates, a weakening property market, and sustained high oil prices are likely to lead to a slowdown in GDP growth over the next two years, which in turn could lead to a reduction in leisure spend, according to a report from...

RCA proposes modernisation of fixture process.(Racecourse Association )(Brief Article)
February 1, 2005... The Racecourse Association is proposing two changes to the racing fixture process in a bid to increase competition in the 2006 fixture list. The proposals, which were approved by the RCA board on 13 January, would see the introduction of a...

Slowdown doesn't have to mean less profits.(Inside track)
February 1, 2005... So, first the bad news--consumers will have less money in their pockets over the next couple of years, which means less expendable income to pass through your turnstiles, across your bars and into your coffers, according to new Barclays...

VisitBritain sees strong year ahead for UK tourist industry.(News)(Brief Article)(Industry Overview)
February 1, 2005... VisitBritain, the UK tourism agency, forecasts a year of steady growth in the volume and value of inbound tourism for 2005. The agency said it expect visits from overseas to rise by a further 3% to 27.1 million, while the value of these...

Virgin to open casinos and gyms on new Airbus.(News)(Virgin Atlantic Airways Ltd.)(Brief Article)
February 1, 2005... Sir Richard Branson announced that Virgin Atlantic has plans to open casinos and gym suites on the new Airbus A380 double-decker passenger jet, the largest passenger aircraft in production. The A380, which will seat up to 800 passengers, has...

Sibec Asia 2005 conference relocates following tsunami.(News)
February 1, 2005... Pelican Events announced that SIBEC ASIA 2005, the annual business meetings forum for the Asia Pacific Health, Fitness and Spa industry will now take place at the Royal Cliff Beach Resort in Pattaya, Thailand. The dates will remain unchanged:...

Whitbread denies DLL demerger.(News)(Whitbread PLC)(David Lloyd Leisure PLC)(Brief Article)
February 1, 2005... Whitbread issued a statement denying press speculation that it is planning to demerge its David Lloyd Leisure chain of 56 fitness clubs. A Mail on Sunday article, which quoted Sir John Banham, the company's chairman, as saying DLL was a...

Bad weather costs Center Parcs.(News)(Oasis Whinfell Forest)(Brief Article)
February 1, 2005... Center Parcs, the listed UK holiday site operator, announced that it had been forced to close its Oasis Whinfell Forest village, in Cumbria, due to the severe weather conditions affecting the region in January. Center Parcs said the...

Christmas slump for Luminar clubs.(News)(Luminar Leisure)(Brief Article)
February 1, 2005... Luminar, the late-night bar and club operator, reported a 3.9% fall in like-for-like sales for the five weeks to 2 January. Like-for-like sales for the branded estate marginally increased by 0.2%, driven by an 11.9% increase at the dancing...

SprinqHealth chairman looking to take 3.4m [pounds sterling] firm private.(Health & fitness news)(Thistledown Developments Limited.)(Brief Article)
February 1, 2005... Sandy Anderson, SpringHealth Leisure chairman, made a recommended offer to take the company private, through his property investment firm Thistledown Developments Limited. The cash offer values SpringHealth shares at 22.75p each, making...

Next Generation's float ambitions.(Health & fitness news)(Next Generation Clubs acquire Harbour Club from Cannons Group PLC)
February 1, 2005... Next Generation Clubs, the racquets-specialising health and fitness provider, is to acquire the Harbour Club in Chelsea from Cannons, for 16.1m [pounds sterling], and could look at floating on the stock exchange, according to management. ...

Management pay 3m [pounds sterling] for Gymbox.(Health & fitness news)(Fitness First merger)
February 1, 2005... Management at Gymbox, the health club that specialises in caged fighting and erotic dancing, have completed a 3m [pounds sterling] buyout from Fitness First, with funding supplied by HSBC. Founded in 2001, Gymbox was the brainchild of...

Bannatyne gym sale is mooted.(Health & fitness news)(Bannatyne Fitness Ltd.)(Brief Article)
February 1, 2005... Duncan Bannatyne, the northeast based entrepreneur behind the Bannatynes chain of gyms, the UK's largest prvate health and fitness operator, is understood to have held talks with two financial advisers about finding a buyer for the company's...

JJB banking on health clubs to lead recovery.(Health & fitness news)(JJB Sports PLC)(Brief Article)
February 1, 2005... JJB Sports, the UK sportswear retailer and operator of health clubs, reported a fall in sales across the year as tough trading conditions in the clothing retail market impacted profits, but said it was speeding up the opening programme for its...

Fitness Lounge to rollout its offering overseas.(health and fitness news)(Brief Article)
February 1, 2005... Fitness Lounge, the health and fitness concept of Kevin Barclay-Webb, personal trainer to celebrities such as Annie Lennox, Jensen Button and Ivana Trump, is set to expand overseas, following its successful start to trading in the UK. ...

MacDonald in 13m [pounds sterling] leisure move.(Health & fitness news)(Macdonald Hotels)(Brief Article)
February 1, 2005... Macdonald Hotels, the Edinburgh-based leisure group, is to invest 13m [pounds sterling] in the expansion and upgrade of 26 of its 60 'Vital' health and fitness centres over the next two years. The money will be used to fund new or...

Gyms firm up new boardroom staff.(Health & fitness news)(Cannons Group PLC appointed John Donaldson)(Brief Article)
February 1, 2005... Cannons announced the appointment of John Donaldson as chairman, following the resignation of Allan Leighton late last year, while LivingWell appointed Andrew Turner as its new sales director. Donaldson has spent his entire career in the...

Steinberg proves bookies always win as Stanley takes a hit.(Betting & gaming news)(Stanley Leisure)
February 1, 2005... Stanley Leisure saw more than 50m [pounds sterling] wiped off the value of its market capitalisation, after the gaming operator admitted that it had incurred large losses from a series of unfavourable sporting results, unpaid debts, and a...

Betfair licence bid is out under Aussie rules.(Betting & gaming news)(Australian Racing Board)(Brief Article)
February 1, 2005... The Australian Racing Board announced that the Northern Territories of Australia had decided not to license betting exchanges on the grounds that to do so would harm the horse racing industry down under. Betfair, the market leading online...

100m [pounds sterling] casino proposed at Sunderland Football Club.(Betting & gaming news)(Brief Article)
February 1, 2005... Las Vegas Sands has announced a 100m [pounds sterling] bid to build a regional casino at the home of Sunderland Football Club. The plan is backed by the football club and would involve the club leasing the land used for the car park to the...

Sun City set for Rainham Marshes?(Betting & gaming news)(Sun International Hotels Ltd)(Brief Article)
February 1, 2005... Sun International is considering the development of a regional casino on a brownfield site near Rainham Marshes, in outer London. The casino would form part of a leisure complex that would also include a hotel, restaurant, cinema, and...

Harrah's winds up 1bn [pounds sterling] Gala JV.(Betting & gaming news)(Harrah's Operating Co. and Gala Casinos Ltd. wind up joint venture)(Brief Article)
February 1, 2005... In the wake of the government's decision to cap the number of new regional casinos in the UK, Harrah's, the US operator, and Gala, the third-largest UK casino operator, announced they were winding up the joint venture created to develop...

Quick sands.(betting and gaming news)(Brief Article)
February 1, 2005... Shares in the US casino operator Las Vegas Sands shot up by 52.4% after the company debuted on the New York Stock Exchange. Shares in the gaming group reached $44.20 in early trading after an initial offering of $29. The company raised more...

Chelsea gives the blues to William Hill.(Betting & gaming news)(William Hill Finance PLC)
February 1, 2005... William Hill followed Stanley Leisure's downbeat trading statement with a reduced full-year forecast of its own, although the bookmaker said it was still on course to show a growth in profits compared with the comparative period a year earlier....

Growth continues as betinternet expands offering.(Betting & gaming news)(Betinternet.com PLC)
February 1, 2005... UK online gaming operator betinternet told shareholders that the company bad enjoyed strong results at its flagship pari-mutuel business, and said it was well placed to expand its offering. At the group's annual general meeting of...

Paddy Power shrugs off results downturn.(Betting & gaming news)(Brief Article)
February 1, 2005... Paddy Power, the Irish bookmaker, announced it expected profit before tax for the year to 31 December 2004 to be approximately 32.1m [euro] (XXm [pounds sterling]), an increase of about 57% on the comparative period in 2003. In the six months...

Gala Group sales lifted by bingo success.(Betting & gaming news)
February 1, 2005... Gala Group has reported total sales growth of 6.9% over the Christmas trading period, thanks to the success of its bingo clubs, which are beginning to draw in younger players. The privately-owned bingo and casino operator also reported...

Non-sports gaming behind ukbetting growth.(betting and gaming news)(Brief Article)
February 1, 2005... Amid a flurry of disappointing trading statements from some of the more 'traditional' UK gaming operators, ukbetting announced that it expected to be able to report results for the year ended 31 December 2004 that are in line with market...

Treasury puts the squeeze on internet betting exchanges.(Betting & gaming news)(Brief Article)
February 1, 2005... Gordon Brown, the UK chancellor, is set to clamp down on internet betting exchanges and demand that they pay more duty to Customs and Excise, in the wake of a report by the National Audit Office, which revealed that out of 2.67bn [pounds...

Genting increases its stake in LCI.(Betting & gaming news)(London Clubs International)(Brief Article)
February 1, 2005... UK casino operator London Clubs International, bounced back from recent share weakness in the gaming sector after Genting Berhad, its Malaysian shareholder that recently purchased a substantial stake in rival Stanley Leisure, had added to its...

American Golf deal makes Crown market leader in Europe.(Sport news)
February 1, 2005... Crown Golf, previously the third-largest operator of golf courses in the country with 11 courses across 9 properties, announced it had acquired American Golf UK, the UK market leader with 44 golf courses over 23 properties from its US parent...

Birmingham City scores sound financial results but warns on rising wage costs.(Sport news)
February 1, 2005... Birmingham City announced a 24% rise in turnover to 45.3m [pounds sterling] (36.5m [pounds sterling]: 2003), and a 61% increase in profit before interest and taxation to 5.6m [pounds sterling] (3.5m [pounds sterling]: 2003) when reporting its...

Leisure report LR index football stockwatch.(Sport news)
February 1, 2005... Birmingham City and Tottenham led the gains during January, with the Blues lifted by a strong set of results which saw the club post a healthy profit of 5.6m [pounds sterling] on turnover which increased 24%. Shares added 27.6% to 18.5p. ...

ABN Amro buys Park Resorts from CBPE with 165m [pounds sterling] pitch.(Tourism & attractions news)(Close Brothers Private Equity )
February 1, 2005... ABN Amro Capital, the global private equity business of Dutch bank ABN Amro, and GB Holiday Parks announced the acquisition of Park Resorts from Close Brothers Private Equity for 165m. [pounds sterling] ABN already holds a majority stake in...

UK tourism data shows improvement across the board during 2004.(Tourism & attractions news)
February 1, 2005... UK hoteliers saw a 5% increase in rooms yield in November, according to figures from PKF, the travel and tourism consultancy. London hotels reported a 6.1% increase in average room rate to 112.29 [pounds sterling] during November,...

Germans can getaway in an aircraft hanger.(Tourism & attractions news)(Brief Article)
February 1, 2005... A Malaysian businessman has converted a former airship hanger into a tropical paradise in Germany. 'Tropical Islands' features two beaches, piped bird song and year-round sun. Colin Au, who invested 48m [pounds sterling] in the project, said:...

Aramark chief to head BHA.(Tourism & attractions news)(British Hospitality Association)(Brief Article)
February 1, 2005... Bill Toner, Aramark's chief executive, has been elected as the new chairman of the council of the British Hospitality Association. Toner replaces Alan Parker, chief executive of leisure company Whitbread. David Williams succeeds Andrew...

Deep-Sea Leisure makes a splash with 58% profits rise in full-year figures.(Tourism & attractions news)
February 1, 2005... Deep Sea Leisure, the listed leisure company which runs two aquariums in the UK featuring marine life, announced its final results for the year ended 31 October 2004. Pre-tax profit for the period was up 58% to 1.654m [pounds sterling]...

BISL executive to head Tourism Alliance.(Tourism & attractions news)(Business in Sport and Leisure)(Brigid Simmonds)
February 1, 2005... Bob Cotton, outgoing Chairman of the Tourism Alliance, announced that Brigid Simmonds, chief executive of Business in Sport and Leisure, would succeed him as of 13 January. 2005. Simmonds will undertake role in addition to her position at...

Euro Disney to invest 240m [euro] in new rides.(Tourism & attractions news)
February 1, 2005... Euro Disney, the troubled theme park operator, said that increased spending per visitor at the theme park had helped lifted revenues by 3% in the first three months of its financial year, to record levels for the first quarter. Revenues...

Parkdean pegs out strategy as profits increase.(Tourism & attractions news)(Brief Article)
February 1, 2005... Parkdean Holidays, the AIM-listed UK holiday park operator, reported an increase in full-year pre-tax profit of almost 7%, to 9.05m [pounds sterling], and said it had a strong development pipeline to drive future growth. Turnover at the...

Phoenix could be swooping for Weststar.(Tourism & attractions news)(Brief Article)
February 1, 2005... The UK caravan park sector continued to fall under the spotlight, after unconfirmed reports that Phoenix Equity Partners, the private-equity firm, was close to agreeing a 30m [pounds sterling] deal to Weststar Holiday Parks, which operates...

London gets cultural.(tourism and attractions news)(Brief Article)
February 1, 2005... VisitLondon has launched a month of events to take cultural events aimed at domestic and Continental visitors to the streets of London, in a bid to offset the fall in US visitors since the World Trade Center attacks in 2001. The...

UK box office nears 1bn [pounds sterling] with record 2004 numbers.(cinema and entertainment news)
February 1, 2005... Takings at cinema box offices across the UK in 2004 reached record numbers, dispelling industry fears that the increase of home entertainment, such as DVDs, would impact figures. According to figures from research company Nielsen EDI,...

Herald gets in the mood.(Herald Inns and Bars)(acquisition)(Brief Article)
February 1, 2005... Herald Inns & Bars has bought the eight-strong late-night bar chain Mood for an undisclosed sum, the Morning Advertiser reported. Herald Inns non-executive chairman Brian King said: "The Mood outlets are slightly more food oriented than...

MD quits UGC after takeover.(UGC Cinemas UK loses Margaret Taylor)(Managing directors)(Brief Article)
February 1, 2005... Margaret Taylor, managing directr of UGC Cinemas UK and Ireland, has resigned from her post as head of one of Europe's leading cinema operators, just weeks after the company was bought out by The Blackstone Group, the US private equity group....

Urbium announces record December.(bars)(company earnings)(Brief Article)
February 1, 2005... Urbium announced that the total sales for the five-week period ending 31 December 2004 were up 20% for continuing businesses. Like-for-like sales increased 2% above the same period last year. The company also revealed that like-for-like...

OFT clears hands' UCI deal.(cinema and entertainment news)(Office of Fair Trading)(United Cinemas International)(Brief Article)
February 1, 2005... The Office of Fair Trading has cleared Terra Firma's acquisition of United Cinemas International, conditional on the sale of some cinemas to address competition concerns in 11 local areas across the UK. The OFF raised concerns about a...

Ameristar eyeing 240m [pounds sterling] Southampton casino build.(property and development news)
February 1, 2005... Ameristar, the Las Vegas casino operator, has announced plans to build a 240m [pounds sterling] regional casino at the West Quay development in Southampton. The company is hoping to obtain one of the eight licenses to build and operate a...

Controversial Bluestone development to go to Court of Appeal.(property and development news)(Council for National Parks)
February 1, 2005... The Council for National Parks is set to go to the Court of Appeal, after its attempts to stop the development of a 60m [pounds sterling] holiday village in west Wales were turned down by the High Court. As part of the proposed village...

Multi-million hotel for showground.(property and development news)(Brief Article)
February 1, 2005... Plans for a multi-million pound hotel just outside Norwich were given the green light by local planners. The 150-room, four-star hotel is expected to cost about 15m [pounds sterling] and will also feature a spa specially designed for people...

Gotla joins new leisure consultancy.(appointment)(Chris Gotla)(Keningtons Leisure Consultancy)(Brief Article)
February 1, 2005... Keningtons, the chartered surveyors, announced the appointment of Chris Gotla to lead its newly created specialist leisure consultancy, which will be known as Keningtons Leisure Consultancy. Gotla, the former development director of...

Grosvenor opens at Gunwharf Quays.(property and development news)(Grosvenor Casino)(Brief Article)
February 1, 2005... A casino billed as the biggest on the south coast has opened its doors at Gunwharf Quays. The new Grosvenor Casino replaces the company's venue in South Parade, Southsea, which has closed after three decades. Nine hundred people will fit...

Restaurant Group up on leisure sites.(food and drink news)(Brief Article)
February 1, 2005... The Restaurant Group has reported like-for-like sales up 5% for the full year. Although the company admitted that trading had been mixed in December, concessions and leisure parks traded strongly throughout the festive season. Chairman...

LGV in 107m [pounds sterling] deal to buy Tragus.(food and drink news)(Legal and General Ventures Ltd.)(Tragus Holdings)
February 1, 2005... Legal & General Ventures is buying Cafe Rouge's parent company, Tragus Holdings, from ECI, the private equity group, in a deal worth 107m [pounds sterling]. The announcement ends weeks of speculation that a deal was imminent. The...

Starbucks to expand hot food menu across US.(food and drink news)(Brief Article)
February 1, 2005... Starbucks is to launch a hot food menu across the US after a successful trial in 80 stores. The company saw like-for-like sales growth of 8% for the five-week period to 2 January, falling short of analysts' predictions and pushing the share...

Coffee Republic hopeful after rise in first-half l-f-l sales.(food and drink news)(Brief Article)
February 1, 2005... Coffee Republic reported improvements in like-for-like sales for the first half, with net losses also narrowing. The company saw a net loss of 900,000 [pounds sterling] in its interim results for the six months to 26 September 2004, against...

McDonald's to improve McImage.(food and drink news)(Brief Article)
February 1, 2005... As part of efforts to improve its corporate image and boost its revenues, McDonald's was due launch sales of premium coffee across the US to capitalise on the $8.9bn (4.6bn [pounds sterling]) coffee market, according to USA Today. The...

Study shows education system failing leisure employers.(industry news)
February 1, 2005... Most employers and trade associations in the UK hospitality, leisure, travel and tourism sector feel that the training and qualifications on offer to them are inadequate, according to a new survey conducted by People 1st, the Sector Skills...

M&A rise driven by private equity in UK.(industry news)(mergers and acquisitions)(Brief Article)
February 1, 2005... Mergers and acquisitions activity is showing signs of recovery for the first time since 2000, according to KPMG. Stephen Barrett, international chairman of KPMG's corporate finance practice, said: "We are at a turning point in global M&A....

New disability consultation launched.(Industry news)(Brief Article)
February 1, 2005... Public body chiefs are being urged to respond to a consultation launched today on new legislation that is set to bring about a shift in the way the public sector works. Changes to the DDA being introduced by the government next year will...

chip and pin unsafe.(industry news)(Brief Article)
February 1, 2005... A security expert has warned that criminals could use fake chip and pin machines to capture consumer's data and create forged cards. Ross Anderson, the professor of security engineering at Cambridge University, said: "The sort of thing I fear...

Is Cannons firing on all cylinders? Dominc Walsh takes a look at the prospects for the health and fitness operator.(behind the headlines)
February 1, 2005... Harm Tegelaars, the founder and chief executive of Cannons Group, has experienced a few ups and downs during his rise to the top of the health and fitness industry tree over the past quarter of a century. But none has been as challenging as...

The Iceman cometh! PY Gerbeau, charismatic head of X-Leisure, talks to Duncan Rowe.(profile)(Interview)
February 1, 2005... PY Gerbeau is not happy man as he ushers me into his office. "Why didn't we win one of your Leopard awards?" he demands. "We want to win everything." I explain that X-Leisure would have had more chance of winning if it had actually submitted an...

Leisure report LR index leisure stockwatch January 2005.(sharewatch and diary dates)(Illustration)
February 1, 2005... The biggest mover of the month was Deep-Sea Leisure, thanks to the announcement of full-year results that saw pre-tax profits up 63% to 1.65m [pounds sterling] due to a 6% increase in visitor numbers and an increase in visitor spend. ...

Diary dates.(sharewatch and diary dates)(conventions and exhibitions)(Calendar)
February 1, 2005... January Event: Special briefing: ECJ Database Date: 27 Location: Kirkpatrick Lockhart Nicholson Graham LLP, 110 Cannon Street, London Description: Special event examining all of the outcomes of the landmark decision ...