Worldwide briefing
Essential news from around the world…
Millions of jobs go in world tourism decline Tourism-related businesses around the world shed some 6.6 million jobs during 2001-2002, says the International Labour Organisation. This meant that one in 12 people employed in world tourism lost their jobs. The main reasons were political turmoil, the global economic downturn and growing unease among travellers.
Hard Rock chief resigns Pete Beaudrault, the boss of the Hard Rock Café division of Rank Group, has resigned with immediate effect. Rank chief executive Mike Smith will take direct responsibility for running the chain until a permanent successor is found.<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /?>
China's restaurants are booming Sales at restaurants in China reached £37b last year, an increase of 16.3% compared with 2001, according to the China Cuisine Association. Increasing salaries and peaceful living conditions were behind the boom, the association said.
Record sales for Wendy's Fast-food giant Wendy's International has announced record sales during 2002. Total sales increased by 12.7% to $9.4b (£5.7b), including $7.5b (£4.5b) at burger chain Wendy's and $1.7b (£1b) at its Tim Hortons coffee and baked goods restaurants.
Starwood bounces back in fourth quarter
Sales at US-based Starwood Hotels & Resorts rose by 12% to $983m (£596m) during the fourth quarter of 2002, compared with the same period in 2001, the company said last week. But turnover for the year as a whole fell from $3.97b (£2.4b) to $3.88b (£2.35b). Barry Sternlicht, chairman and chief executive, said: "The much-anticipated global recovery never materialized and business travel remains subdued in the uncertain environment."
Raffles profits rise Raffles Holdings, whose properties include the Swissôtel chain and the Raffles hotel in Singapore, has announced operating profits up by 16% during 2003 to S$86.2m (£30.1m). The company said its hotels had turned in a better operating performance and maintained revenue per available room. But it expects conditions to remain difficult during 2003.
Apart-hotels boost for Ascott Singapore-based Ascott Group saw turnover in its apart-hotels division increase by 13% to S$156.6m (£54.65m) last year. Chief executive Kee Teck Koon said: "Our serviced residence business continues to grow strongly, especially in China and Vietnam. But the general global economic slowdown has weakened a few of our serviced residence markets, particularly in Singapore and the UK."
Hotel sales stable at Accor French group Accor has reported a 0.3% decline in hotel turnover to €5.03b (£3.3b) during 2002. Total group sales fell by 2.1% to €7.1b (£4.6b), although like-for-like turnover increased by 0.9%. Sales rose by 0.6% in Accor's business and leisure hotels division and by 3.4% in its European economy hotels, but fell by 4.2% in its US economy hotels.
by Jason Blackwood and Samantha McClary
