Worldwide briefing
27 July 2001 by Samantha McClary
Essential news from around the world… Aramark in partial float US-based contract caterer Aramark is to sell some of its shares to the public for the first time. The Philadelphia-based company hopes the partial flotation will raise £420m and position it for success in "an increasingly competitive world". Proceeds are expected to be used for new acquisitions and debt repayment. Kempinski expands in Middle East> Germany-based hotel group Kempinksi has been chosen by the Abu Dhabi government to manage a 440-bedroom hotel, which will be home to the largest conference facilities in the Middle East. The hotel, set in 200 acres, will add to the more than 30 hotels Kempinski already operates in the region. Mövenpick moves in on German capital Hotel group Mövenpick is to open a four-star, 216-bedroom hotel in Germany's capital, Berlin. The opening comes just a few months after the group added a 250-bedroom hotel in Frankfurt. The Mövenpick Hotel Berlin and Mövenpick Hotel Frankfurt are both due to open in 2003. Mövenpick has 41 hotels in 8 countries. Radisson opens LAX hotel Radisson Hotels & Resorts has opened a newly renovated 600-bedroom hotel close to Los Angeles International Airport (LAX). Over £12m was spent on renovating the hotel. St Petersburg hotel to get new owner Maltese hotel owner and operator Corinthia Hotels is looking to take over the controlling stake in the 285-bedroom Nevsky Palace Hotel, in St Petersbury, Russia, in a £28m deal. The city administration currently owns the controlling stake in the hotel, which is run by Sheraton. As part of the deal Corinthia will have to pay back debts of £105m accrued during construction of the hotel. French hoteliers invade Poland French hotel and office developer Pascal is to invest £116.8m in Poland. The group plans to open three luxury hotels and 10 to 15 two- and three-star hotels in the country. France's Envergure group is also hoping to expand in Poland, investing £92.2m over the next five years on building a chain of 25-30 economy-class hotels in Polish cities.
