Leisure Report articles from January 2005

Leisure Report archives from January 2005

Usual suspects all in the frame, as LA Fitness looks for a buyer.(Health clubs)
January 1, 2005... A familiar list of names including venture capitalist firms and operators emerged following LA Fitness' announcement that it had "sought expressions of interest from a selection of potential investors", shaking up the sector in the otherwise...

Motorcise to launch franchise programme.(health clubs)
January 1, 2005... Motorcise, the AIM-listed operator of fitness suites, is set to rollout a franchise programme in 2005, Leisure Report can exclusively reveal. As part of its expansion plans, Motorcise, which trades on the stock exchange as Healthy Living...

Industry must hit the ground running in 2005.(Inside track)(Leisure industry)
January 1, 2005... New Year columns traditionally take the opportunity to look back at the previous 12 months and forward to the next, while industry takes a break over the holiday period, but there's little time to pause for reflection this year as 2005 already...

Leisure industry innovators rewarded at gala dinner.(News)(The Leisure Operator Awards)
January 1, 2005... The inaugural Leopards: The Leisure Operator Awards, were held at the Royal Lancaster Hotel in London on 23rd November, to celebrate and reward innovation in the leisure sector. The awards were organised by Leisure Report, in association...

Government imposes limits on new casinos.(News)(Gambling Bill Standing Committee)
January 1, 2005... The new system for deciding the location and licensing regime for new casinos was set out in the Gambling Bill Standing Committee as Leisure Report went to press, revealing that interested parties could have to wait until the end of 2006 for...

Curzon recruits Riches to drive expansion plans.(News)(Curzon Leisure Group)(Brief Article)
January 1, 2005... Curzon Leisure Group, the independent cinema chain owner and operator, announced it had appointed Ian Riches as chief executive officer, to lead a major expansion programme. The company currently consists of six UK locations but has plans...

Silverstone set for redevelopment as F1 future secured.(News)(British Racing Drivers' Club, Formula One (United Kingdom))
January 1, 2005... The future of the British Grand Prix was finally secured after months of uncertainty, after the British Racing Drivers' Club, owner of Silverstone, hammered out a last-gasp deal with Bernie Ecclestone, who holds the commercial rights to Formula...

UK fitness industry could benefit from 90m [pounds sterling] VAT saving.(News)(Value Added Tax)
January 1, 2005... A change in policy by UK Customs and Excise, regarding its treatment of additional charges to consumers for deferred payment of annual membership fees, may enable fitness clubs to seek VAT rebates, possibly for as much as 90m [pounds sterling]...

Blackstone's Cineworld buys UGC cinemas in UK.(News)(UGC Cinemas, Cineworld UK)(Brief Article)
January 1, 2005... The Blackstone Group, the US private equity firm that bought Cineworld UK in October, has bought the European cinema chain UGC's British and Irish business for an undisclosed sum, reported to be in the region of 200m [pounds sterling]. ...

Playgolf on course.(News)(Urban golf centre)(Brief Article)
January 1, 2005... Playgolf, the owner and operator of golfing facilities in London and Manchester, said building work had commenced on its Urban golf centre at Northwick Park, with completion expected in September 2005. In a trading statement, the company...

Wembley makes board changes.(News)(Wembley (London) Ltd.)(Brief Article)
January 1, 2005... Wembley, the gaming and greyhound group, announced a number of changes to the composition of its board from 1 January, including two new appointments intended to ensure compliance with corporate governance standards. Claes Hultman will...

Leisure industry 'indifferent' to disability.(News)(risk of court action)(Brief Article)
January 1, 2005... Over three quarters of small to medium sized businesses in the leisure industry are now at risk of court action under the Disability Discrimination Act, according to new research published by RNID. NOP World Financial research, commissioned...

Village and Greens help De Vere to 14% profits increase.(Health & fitness news)(De Vere Group PLC, )
January 1, 2005... De Vere Group posted a 14.7% increase in pre-tax profits for the year to 45.6m [pounds sterling], helped by improvements across the group's leisure division. The rise vindicated the company's decision to spend 1m [pounds sterling] over the year...

LivingWell limbers up with new initiatives for 2005.(Health & fitness news)(marketing )(Brief Article)
January 1, 2005... LivingWell, Hilton's fitness arm, announced two new schemes to boost performance in 2005, unveiling a customer incentive deal and a new recruitment methodology. Under the customer incentive, new members who join a LivingWell club in the...

Esporta offloads loss-making clubs to Virgin Active.(Health & fitness news)(Esporta PLC, Health clubs.)(Brief Article)
January 1, 2005... Esporta, the UK premium health club operator, announced it had sold three of its non-core fitness clubs, located in Milton Keynes, Edinburgh and Finnieston, Glasgow, to Virgin Active in a transaction worth about 1.25m [pounds sterling]. ...

LA Fitness backs weight loss brand.(Health & fitness news)(LA Fitness International, weight loss centres)(Brief Article)
January 1, 2005... LA Fitness said that it was "extremely encouraged" by the start made by its trial 'Promise' weight loss centres. The company has opened one site under the brand and plans two further centres, due to open in the New Year, before deciding whether...

Leisure Connection recruits new marketing boss.(Health, fitness & sport news)(Jill Brown )(Brief Article)
January 1, 2005... Leisure Connection, the sport and leisure management company, announced the appointment of Jill Brown as its new sales and marketing director. Brown brings a strong leisure, service sales and marketing background to the role, having worked...

Next Generation agrees 15m[pounds sterling] Dubai sports centre plan.(Health, fitness & sport news)(luxury centre)(Brief Article)
January 1, 2005... Next Generation, the sports club chain run by David Lloyd, has agreed to open a 15m [pounds sterling] luxury centre at the giant Dubai Sports City development in the Middle East. Lloyd said: "Next Generation at Victory Heights will...

Leisure Report LR Index football stockwatch December 2004.(Health, fitness & sport news)
January 1, 2005... Shares in the soccer sector suffered a miserable month on the whole, with only West Bromwich Albion showing any real improvement, in the club's last month of trading on the stock market. Hearts was the only club to report results in the...

Baggies de-listing successful.(Health, fitness & sport news)(West Bromwich Albion)(Brief Article)
January 1, 2005... West Bromwich Albion announced that its offer to buy back shares and de-list from the junior AIM market had been declared wholly unconditional, completing the club's withdrawal from the stock exchange. The Baggies said that by the 7...

AIM-set Goals Soccer Centres scores with 12m [pounds sterling] listing.(Sports news)(Alternative Investment Market)
January 1, 2005... Goals Soccer Centres, the operator of 11 small-sided football venues nationwide, has scored with an initial 12m [pounds sterling] listing on the Alternative Investment Market, giving the company a market capitalisation of more than 25m [pounds...

Hearts hoping Murrayfield move will curb losses.(Sports news)
January 1, 2005... Heart of Midlothian reported an increased pre-tax loss of 2,424,000 [pounds sterling] for the year ended 31 July 2004 (2003: loss of 1,095,000 [pounds sterling]), equivalent to a loss per share of 19.2p, but the club remained optimistic about...

Taskcatch scores with share issue.(Sports news)(Brief Article)
January 1, 2005... Taskcatch, the AIM-listed operator of small-sided soccer venues, announced that it had secured a further 42,080 [pounds sterling] through the placing of 131,500 new ordinary shares of 1p each, at a price of 32p per share with private investors....

Arena names new board members.(Betting & gaming news)(Arena Leisure)(Brief Article)
January 1, 2005... Arena Leisure announced a number of changes to its board structure at the beginning of December, with the appointment of Ian Renton as executive director and racing director, while Ian Hogg and Graham Parr left the board. Renton held...

Sportingbet puts in a strong performance.(Betting & gaming news)(Sportingbet PLC)(Brief Article)
January 1, 2005... Flushed with the success of its 162m [pounds sterling] deal to buy Paradise Poker in November, the world's largest online betting group Sportingbet revealed an impressive set of figures for the three months to the end of October 2004. ...

Improved efficiency helps LCI increase profits.(Betting & gaming news)(London Clubs International PLC)
January 1, 2005... London Clubs International reported an increase in net profits and Ebitda, despite seeing a reduction in turnover, as improved efficiency and a reduction in outstanding debts boosted figures. Reporting for the six months to 26 September...

BETonSPORTS sees share price plunge after issuing shock profits warning.(Betting & gaming news)(Brief Article)
January 1, 2005... Following a shock profits warning, shares in BETonSPORTS plummeted, wiping out almost half the company's market value. The sportsbook operator said that following a sudden reversal in its scheduled advertising programme for the second half,...

Rank still betting on casinos as gaming arm thrives.(Betting & gaming news)(Rank Group Ltd.)
January 1, 2005... Rank Group reaffirmed its commitment to opening a number of casinos in the UK when gaming laws are relaxed, as it released a robust trading update. Rank said it planned "to compete in all market segments, including regional casinos",...

Stanley Leisure forms joint venture to develop regional casinos.(Betting & gaming news)(Genting Group, Stanley Genting Casinos Limited)
January 1, 2005... Stanley Leisure has formed a joint venture company with the Genting Group to develop regional casinos in the UK. The company, Stanley Genting Casinos Limited, will be equally owned by both companies with them both agreeing they will only...

McIntosh reassures licensees over Gambling Bill AWP concerns.(Betting and gaming news)(Amusement with Prize, Lord McIntosh.)
January 1, 2005... Lord McIntosh has reassured licensees that they will not have to remove AWP machines as a result of the Gambling Bill, but industry analysts warn that the licenced trade is likely to suffer as a direct results of the legislation. Speaking...

European Disney retail deal derailed.(Tourism & attractions news)(Walt Disney Travel Company UK)(Brief Article)
January 1, 2005... The Walt Disney Company's plans to sell its 106 Disney retail stores in Europe are reported to have been shelved, after it failed to agree terms with bidders including PY Gerbeau, the former boss of Euro Disney, the amusement park. ...

Center Parcs unveils potential fifth site.(Tourism & attractions news)(holiday village)
January 1, 2005... Center Parcs, the UK holiday park operator, said it had applied for planning permission for a fifth UK holiday village, sited on the Duke of Bedford's estate near Woburn, Bedfordshire. The company also reported robust figures for the 24 weeks...

Sale of Cinque Ports and Park Resorts could spark bidding war.(Tourism & attractions news)(Brief Article)
January 1, 2005... The news that Peter Bull and Jim Watson had appointed KPMG, the accountants, to act as strategic advisor for Cinque Ports Leisure, their south-coast caravan park business, sparked rumours that a sale is likely to follow, with several potential...

Hotels hope for festive lift after recent slowdown in visitor numbers to the UK.(Tourism & attractions news)(united kingdom)(Brief Article)
January 1, 2005... The latest figures for the number of visits to the UK show the beginning of a slow down in growth for the end of September, while PKF, the consultancy, says hotels are looking for a strong Christmas period to boost room rate after a flat...

Luminar completes 2004 rebranding.(Cinema & entertainment news)(Luminar Leisure)(Brief Article)
January 1, 2005... Luminar announced that it is on course to complete its scheduled developments for the 2004 branding program, with new openings, rebrandings, and a disposal in November. The company also received a positive research note from Bridgewell...

Megabowl strikes out for Georgica.(Cinema & entertainment news)(management)(Brief Article)
January 1, 2005... Georgica, the UK leisure operator, has called in the administrators to its Megabowl ten-pin bowling centres business. Megabowl still operates 12 bowling centres and Georgica said losses--approximately 3m [pounds sterling] in 2004--were...

Inventive like-for-likes up as trading conditions stabilise.(Cinema & entertainment news)(Inventive Leisure PLC)(Brief Article)
January 1, 2005... Inventive Leisure reported a 1.6% increase in like-for-like sales for the first 22 weeks of the year, describing marketing conditions as "more stable than we have seen for some time". Like-for-like sales in the following eight weeks were up...

Bespoke deal for Home House boss.(Haydn Fentum of Bespoke Hotel Group acquired )(Brief Article)
January 1, 2005... Mayfair private members' club Home House is understood to have sold to Haydn Fentum, the man behind the Bespoke Hotel Group, formerly Furlong hotels. Fentum is thought to have bought the club for 15m [pounds sterling] and will use the...

Wembley Arena to get 29m [pounds sterling] revamp.(Cinema & entertainment news)(Brief Article)
January 1, 2005... Wembley Arena is to undergo a 29m [pounds sterling] redevelopment, with plans including the installation of new auditorium seating which will increase the capacity of the venue to 13,400. A new hospitality suite, a backstage bar and box...

Signs good for Caesars at Wembley.(Property news)(Caesars Entertainment Inc.)(Brief Article)
January 1, 2005... The signs are looking good for Caesars Entertainment's proposals to build a giant casino at Wembley. The casino would form part of Quintain Estates & Development's plans for redeveloping the area around the new Wembley Stadium. Quintain...

Guildford casino wins planning consent but Liveroool councilors move to block applications.(Property news)(Liverpool Land Development Co.)
January 1, 2005... A proposal for a casino in Guildford is reported to have become the first casino proposal to be given planning consent, while councillors in Liverpool have moved to signal their disapproval of casino developments. The multi-million pound,...

Cinema at heart of Helios' 18m [pounds sterling] scheme.(Property news)(Helios Properties, Cineworld cinema.)(Brief Article)
January 1, 2005... Helios Properties officially launched its 18m [pounds sterling] "River Quarter" leisure development in Sunderland, with the opening of Cineworld cinema at the site. Sunderland was the largest UK city without a cinema, but now the 48,000 sq...

BHA boss slams Scottish planners.(Bob Cotton of British Hospitality Association)(Brief Article)
January 1, 2005... If Scotland is to develop and improve its tourism product, regional and local planners must be more flexible and not stand in the way of legitimate developments, Bob Cotton, chief executive of the British Hospitality Association, told industry...

Permira to put Little Chef on sale for 50m [pounds sterling].(Brief Article)
January 1, 2005... Little Chef, the motorway service station operator, is to be put on the market with a price tag of up to 50m [pounds sterling], as owners Permira concentrate on their hotel business. The private equity group will retain the 115 outlets...

Bell calls time as McD's reaps 'Incredibles' profits.(Food & drink news)(Charlie Bell, McDonald's Corp.)
January 1, 2005... Charlie Bell has stepped down after just seven months as McDonald's chief executive to concentrate on his battle with bowel cancer. Bell was appointed president and chief executive in April and had surgery two weeks later. Andrew McKenna,...

O'Briens appoints Young as new MD.(Food & drink news)(Nick Young, managing director)(Brief Article)
January 1, 2005... Sandwich bar chain O'Briens has appointed Nick Young as managing director for the UK. Young was previously on the board for Granada Motorway Services and spent seven years in operations and brand development for Bass and Scottish &...

Krispy Kreme to stop issuing sales advice.(Food & drink news)(Brief Article)
January 1, 2005... Krispy Kreme reported a loss of $3m (1.6m [pounds sterling]) for the third quarter and a fall in underlying sales for the first time. The doughnut maker also revealed that it will not produce sales guidance for the fourth quarter, or for...

Starbucks sees 'exceptional' results.(Food & drink news)(Starbucks Coffee Company UK Ltd.)(Brief Article)
January 1, 2005... Starbucks reported a 26% increase in net revenues for the four-weeks to 28 November and a like-for-like sales increase of 13%. Net revenues for the period were $486m (250m pounds sterling]) compared with $387 for the same period of fiscal 2004....

Pret tops league.(Food & drink news)(Pret a Manger as the star performer)(Brief Article)
January 1, 2005... A league table by Foodservice Director magazine has placed Pret a Manger as the star performer in the hospitality industry with Hilton Group at number four. The magazine asked companies to rate their contemporaries on categories including...

Berkeley Scott adds 3m [pounds sterling] to CV with float.(Industry news)(Berkeley Scott Group,)(Brief Article)
January 1, 2005... Berkeley Scott Group, the market-leading provider of people resources to the hospitality and leisure sector, announced it had raised 3m [pounds sterling] through the issue of new shares in relation to its application for admission to the AIM...

Wallace says farewell to FIA as Kerr joins team.(Industry news)(Nigel Wallace, Innes Kerr)(Brief Article)
January 1, 2005... After five years at the helm of the FIA Nigel Wallace has announced that he is to step down from his post as executive director. Commenting on the timing of his departure, Wallace said: "There is never a good time to leave, but the FIA is...

Accountants play down smoking ban concerns.(Industry news)(tourism & hospitality industry)(Brief Article)
January 1, 2005... Chartered Accountants who work within, or whose clients are in the tourism and hospitality industry, are relaxed about the possible repercussions of a total public places smoking ban on the industry. The Tourism & Hospitality Special...

BHA offers cash for skills.(Industry news)(British Hospitality Association)(Brief Article)
January 1, 2005... The government is to give 50,000 [pounds sterling] a year to sharpen the skills of people in the leisure, hospitality and tourism industry without them having to attend a college course. The skills programme will provide learning in the...

TUC warns over noise levels.(Industry news)(Trade Union Congress)(Brief Article)
January 1, 2005... The Trade Union Congress and the Royal National Institute for the Deaf have warned that staff in bars, nightclubs and concert venues face permanent hearing loss because of noisy working conditions. Frances O'Grady, the TUC deputy general...

A golden age for the silver screen? As the UK's first multiplex prepares to celebrate its 21st birthday, Simon Stephens looks at the sector.(Special report--cinema)
January 1, 2005... With admission figures falling to an all-time low of 54 million in 1984, the UK cinema exhibition industry seemed to be in terminal decline. But 20 years ago its fortunes were transformed when AMC Entertainment opened the UK's first multiplex...

Risky business or risk-free business? David Read, head of broker service development at Norwich Union, outlines risk management techniques.(Business sense--Risk management)
January 1, 2005... Our cash-rich/time-poor society, an upsurge in the 'grey' market and our current high levels of disposable income have all led to a huge growth in the UK leisure industry. The demand for leisure services has increased over the past 20 years to...

Leisure Report LR Index leisure stockwatch December 2004.(Sharewatch & diary dates)(Illustration)
January 1, 2005... A sharp fall in the share price was Center Parcs' reward for the announcement that energy prices were set to increase by 25%, eating into next year's profits. Shares shed 12% on the news, as investors were unimpressed with the group's slow...

Diary dates.(Sharewatch & diary dates)(events)(Brief Article)(Calendar)
January 1, 2005... January Event: European Film Piracy Summit Date: 11 Location: The Langham Hotel, London Description: One-day summit providing an update on how the film industry is combating piracy Contact: www.screendaily.com/piracy or call 020 7505 6044....