Russian restaurateur considers IPO – and other international news

21 February 2007 by
Russian restaurateur considers IPO – and other international news

Russian restaurateur considers IPO
Russian restaurateur Arkady Novikov, the owner of a chain of 100 restaurants in Moscow, is reportedly planning an initial public offering (IPO) on the London Stock Exchange. Novikov, who employs more than 12,000 people, is said to be in talks with banks and considering a listing in London in the last quarter of 2007. Banking sources said he may also sell his popular chain of restaurants, Yolki-Palki, to focus on the rising demand for top-end restaurants in the Russian capital.

Jumeirah Group launches new spa concept
Jumeirah Group has launched a new spa concept called Talise, which comprises meditation-inspired wellness centres that will be launched across selected hotels and resorts over the next two years. The new concept, which includes the urban, resort and destination spa models, offers a selection of treatments and spa experiences focused on relaxation and meditation. The first Talise spa recently opened at the group's Madinat Jumeirah resort in Dubai, with four future spa developments planned for properties in the Middle East and Shanghai by 2008.

Floating hotel set for Stockholm Swedish hotel group Nordic Hotels is planning the launch of a floating hotel in Stockholm, subject to planning permission. The 70-room five-star bath-house hotel, which is set to open in 2009, will be located in Riddarfjärden in Stockholm's centre. Hoteliers Ejnar Söder and Hans Mellström hope the property will become a new landmark for the Swedish capital.

Shangri-La to open second property in CanadaShangri-La Hotels is to open its second property in Canada with the launch of the five-star Shangri-La hotel in Toronto in 2011. The 220-room property, which will occupy the first 17 floors of a 65-storey tower in the centre of the city, will include a number of restaurants and bars as well as a spa including 10 treatment rooms. Conference facilities will include a ballroom catering for up to 150 people, as well as a number of smaller meeting rooms. The opening of the property follows the launch of the Shangri-La hotel Vancouver, which is set to open in September 2008.

IHG to increase presence in CanadaInterContinental Hotels Group (IGH) is planning to increase its presence in Canada by 25% by 2010, the year of the winter Olympic Games in Vancouver. The company aims to have nearly 190 hotels in Canada, driven by the country's economic surge and strong domestic travel market. The three-year expansion plan will bring all seven of its brands to Canada, including the first Hotel Indigo in 2007, which recently opened in Ottawa, as well as seven new Holiday Inn properties. Canada is the second-biggest contributor to IGH's revenue in the Americas, after the USA.

By Jessica Harvey

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