Jarvis and Accor in talks
JARVIS Hotels has admitted it is in talks with French group Accor about a possible joint venture.
"We are probably looking at around 30 hotels," said a Jarvis spokesman, although he refused to elaborate on what the venture might be.
Last month Jarvis announced its talks with an unnamed bidder, thought to be Spanish hotel group NH Hoteles, had been terminated. Two weeks later it denied a possible merger with Accor (Caterer, 27 May, page 4).
Chairman and chief executive John Jarvis has already revealed he has £100m to invest in hotels, and the 62-strong group plans to add 250 bedrooms to its hotels in the next three years and redevelop a further 1,000 bedrooms.
It will also invest £28m on redeveloping the 270-bedroom Piccadilly hotel in Manchester into the Jarvis International Manchester, which will become its flagship.
Sixteen branches will be added to its nine-strong Arts Bar and Grill restaurant chain over the next 18 months.
The year ended 27 March was the ninth successive year of profit growth for Jarvis Hotels and for the first time its average room rate broke through the £50 mark.
Pre-tax profits were up 2.9% to £32.4m, from turnover up 3.7% to £141.6m.
Bedroom occupancy remained unchanged at 68.3% and room yield was 5% higher at £34.18.
