Sodexo signs agreement with Zehnacker Group
Contract caterer and facilities management company Sodexo has signed a binding agreement with Burkart Verwaltungen to acquire more than 90% of German facitlies management firm Zehnacker Group. Sodexo, subject to competition approval, will may €190m (£151m) for the company and expects to complete the deal by the end of the year.
InterContinental enters timeshare market
InterContinental Hotels Group is to enter the timeshare market having signed a deal with Orange Lake Resorts to brand its 2,400-villa resort next to Disneyland in Orlando under its Holiday Inn name. Orange Lake Resorts is owned by the family of Kemmons Wilson, who founded Holiday Inn in 1952 and named it after a Bing Crosby/Fred Astaire film.
Starbucks opens first store in Portugal
Coffee chain Starbucks opens its first store in Portugal tomorrow (30 September) in a joint venture with Grupo VIPS, part of food service and retail operator Sigla. The first Portuguese Starbucks will open its doors in Alegro Mall in Alfragide and make use of local ingredients to create pastries and deserts unique to Portugal. Grupo VIPS already operates 75 Starbucks stores in Spain and 45 in France through joint partnership deals with the American giant.
Hilton Garden Inn debuts in Russia
Hilton Garden Inn has made its debut in Russia with a hotel in Perm. It is the second of three Hilton brands scheduled to launch in Russia over the next year. The Hilton Garden Inn Perm franchise is operated by Hotels of Ural. Hilton opened its first UK Garden Inn in Luton, Bedfordshire in July and is planning a rollout of the brand across Europe with 15 new sites in the pipeline during the next two years.
By Chris Druce
E-mail your comments to Chris Druce here.