Worldwide briefing

Treasure buried

Hong Kong-based chain the Treasure Restaurant Group has collapsed, laying off nearly 1,700 workers. The labour department said the group had gone into liquidation. Its 17 restaurants have been closed.

Backpackers wooed

Accor is to become the first major hotel group to enter the backpacker hostels market. It will trial three hostels in New Zealand and plans to expand the chain over the next 12 months.

Management buyout

The founders and some of the senior management at restaurant and entertainment chain Dave & Buster's are leading a management buyout that will take the company private at $12 (£8.20) a share.

Giants join forces

Six Continents Hotels has announced the opening of a unique dual-branded resort in the Bahamas. The Royal Oasis Golf Resort & Casino on Grand Bahama Island links the 400-bedroom Crowne Plaza hotel and the 565-bedroom Holiday Inn SunSpree Resort. The property is owned and managed by Driftwood Hospitality Management, under a licence agreement.

Heading south

Hotel consortium Best Western plans to add up to 30 hotels in South America over the next 18 months. It has 53 in the region.

Esja expansion

Iceland's Hotel Esja in Reykjavik is to be expanded by 100 bedrooms at a cost of Ikr2b (£15.2m), it announced last week.