Worldwide briefing
Seiyo sells shares
Seiyo Food Systems, part of contract catering giant Compass, has sold 6.4b yen (£35m) worth of shares in Japanese fast-food chain Yoshinoya. Seiyo now owns just over 20% of the firm. Compass was also looking into a franchise agreement with Yoshinoya for the use of its restaurants in the USA.
Danubius warning
Hungarian hotel group Danubius has issued a profit warning for 2002. The group said unfavourable exchange rates and a fall in tourist trade would cut pre-tax profit by 700m forints (£1.8m) and turnover by 430m forints (£1.1m) in the full year.
Choice chooses Oz
US-based Choice Hotels International has bought a 55% controlling stake in Flag Choice Hotels, its franchising partner in Australia, for US$3.5m (£2.3m). The deal includes the option to buy the remaining 45% in five years. Flag Choice franchises more than 400 hotels in Australia and New Zealand.
Rebranding complete
Spanish hotel group NH Hoteles has completed the rebranding of its 29 hotels in the Netherlands. They all now feature the new NH logo on their revamped façades. Stationery, toiletries, menus, keys and uniforms have also all been rebranded. The process cost €4.6m (£2.9m).
Quarter-pounder
Wendy's International has reported increased turnover in June and in the second quarter of 2002. Turnover at the group's Wendy's restaurants was up by 7.3% during June, and by 6.6% in the second quarter.
