Worldwide briefing
Groupe Flo loss
French restaurant operator Groupe Flo posted a €13.3m (£8.2m) loss in 2001, compared with a profit of €5.5m (£3.5m) a year earlier. Operating profit fell by 33% to €10.6m (£6.5m), from €15.8m (£9.7m) in 2000. Despite the fall in profits, turnover at the group increased by 2% to €358m (£221m) against €351.3m (£217m) the previous year.
Profits up at Tricon
US-based Tricon Global Restaurants, which operates Pizza Hut, KFC and Taco Bell restaurants, has recorded a 41% increase in first-quarter profits to $124m (£84.7m). Turnover was up by 7% to $1.6b (£1.1b).
Wendy's gets fatter
Wendy's International, which operates Wendy's fast-food restaurants and Tim Horton's coffee bars, has posted a 10.2% increase in first quarter turnover to $612b (£424b). Profit increased by 12.3% to $43.4m (£29.6m).
Spanish expansion
Six Continents Hotels is to open up to 20 Express by Holiday Inn hotels in Spain over the next five years. The new hotels will be built in key cities across Spain including Madrid, Barcelona and Malaga.
Interstate merger
Meristar Hotels & Resorts and Interstate Hotels Corporation, the USA's two largest independent hotel management companies, are merging. The combined company will keep the Interstate name and will operate 412 hotels, representing more than 30 franchise brands in North America and Europe.
