News round up
Bartels moves up at Le Méridien
Jeurgen Bartels has been promoted to joint chairmanship of Le Méridien hotels as part of a major boardroom reshuffle following a series of meetings with the group's shareholders and banks. Bartels, formerly chief executive, takes on the role alongside Guy Hands, who was formerly chairman and who heads investment firm, Terra Firma, Le Méridien's majority shareholder. Stephen Alexander, formerly deputy to Bartels, becomes chief executive officer.
The reshuffle follows the departure of Richard Mahoney, president and chief operator officer, who has quit to rejoin his family in the USA. He will not be replaced.
M&S to outsource catering at HQ
High-street retailer Marks & Spencer is expected to contract-out its catering for the first time when it moves its London headquarters from Baker Street to Paddington in spring next year. BaxterSmith, Charlton House, Wilson Storey Halliday, Restaurant Associates and at least one other company are believed to be tendering to feed the 3,000 staff.
Industry observers point out that it will be a big departure for the retailer. "At the moment a group of ladies takes M&S food off the shelves and reheats it in the staff restaurant at a discount," said one.
Groups to bid for Six Continents pubs
Equity groups interested in Six Continents' pubs are gearing up for a bidding war after the group's split from its hotels division next month.
BC Partners, one of the UK's largest private equity groups, is understood to be the latest to show an interest. It has been reported that a management team has been assembled which includes Martin Grant, formerly of brewery group Vaux. And CVC Capital Partners, another private equity group, is understood to have appointed Goldman Sachs to advise on a possible bid for the pubs, which include the All Bar One chain and Vintage Inns.
Speculation has also centred on a bid from Terra Firma, the investment company headed by Guy Hands, formerly head of Normura's Principal Finance Group, which has orchestrated deals such as the £1.9b purchase of Le Méridien from Forte in 2001.
A Six Continents spokeswoman said no firm offers had been made. "It's highly unlikely that we will receive any offers until after the demerger," she said.
Fischer in line for top post at Hilton
Jurgen Fischer, president of Hilton International - Continental Europe and Africa, is expected to be a strong contender to replace Hilton International chief executive Anthony Harris, who died of cancer earlier this month. Hilton said it was too early to announce a replacement.
City analysts speculated there would be no rush to fill the post, but said Fischer was the most senior of the incumbent Hilton regional vice-presidents.
