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Jarvis to invest £47m ahead of possible sale… For more hospitality stories, see what the weekend papers say

25 September 2006

Jarvis to invest £47m ahead of possible sale
John JarvisMail on Sunday, 24 September

Compass management cuts could reach 200
The new chief executive of Compass, Richard Cousins, has been on a global tour of the £5.6b group since he joined in June and has identified a number of areas where costs can be stripped out. However, Cousins may choose to wait until November to unveil his strategy alongside full-year results. There is speculation that 200 managers are being made redundant and the number of the group's catering brands will be trimmed. - Sunday Times, 24 September

Clapham House wants 10-fold rise over 10 years
Clapham House Group, the restaurant operator, is to target a near 10-fold rise in outlets across Britain within a decade, its chairman has said. David Page, a former head of PizzaExpress, said sales at Clapham, which runs Gourmet Burger Kitchen, Tootsies, the Bombay Bicycle Club and The Real Greek, were progressing well. - The Scotsman, 23 September

Gondola happy to be a bid target
The chief financial officer of Gondola Holdings has said that he took it as a compliment that the restaurant company had received a £900m bid approach from Cinven, the private equity firm. Chris Heath refused to be drawn on whether he favoured Cinven's plan to take Gondola private, but added: "In some ways it's quite flattering. It shows we've put in place a good business model." - The Times, 23 September

Hilton gains two more Irish hotel contractsHilton Hotels Corporation will boost its presence in Ireland after winning contracts to operate two new hotels in Limerick and Dublin. - The Times, 23 September

Bewleys hotels pull out of Scotland
Bewleys has sold its hotel in Glasgow city centre for "well in excess of £10m", according to sources close to the deal, and will use the proceeds to concentrate on increasing its British interests. The 104-bedroom hotel, bought in 2000, was Bewleys' first foray into the UK market. - Sunday Times (Scottish edition only), 24 September

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