Worldwide briefing

01 July 2002 by
Worldwide briefing

IRS tips the balance

The US Supreme Court has ruled that the Inland Revenue Service has the right to charge restaurants additional social security taxes if it thinks employees are under-reporting their tips. The National Restaurant Association said that the move could have grave ramifications for the USA's 200,000 restaurants. Its senior vice-president of operations said: "Frankly, this decision could mean the difference between a restaurant staying in business or closing its doors."

Sinking in the Med

French leisure group Club Mediterranée reported a net loss of €25m (£16.1m) for the six months to 31 March, compared with a net profit of €6m (£3.9m) for the same period in 2001. Turnover fell by 15% to €816m (£525.6m) against €958m (£617m) a year earlier.

Marriott sell-offs

US-based hotel company Marriott International has sold two hotels to Orlando-based property group CHL Hospitality for about $143m (£92m). But Marriott will continue to manage the 347-bedroom Bridgewater Marriott hotel in New Jersey and the 405-bedroom San Francisco Courtyard hotel.

Over the next cloud

German airline Lufthansa's catering business, Sky Chefs, will post an operating profit in 2003 and net profit in 2004, chief executive Jrgen Weber told shareholders at the group's annual general meeting. Weber said that, because of 11 September, the group had made a special write-down on Sky Chefs of €495m (£319m).

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.

close

Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking