3e3eBass has transformed in recent years into a leisure company by selling its smaller pubs for £2.3bn.
Its future strategy is based on expanding its hospitality businesses,
mainly hotels. To reflect the fact that it is one of the world’ s largest hotel companies, with a broad geographic ... Read review
Advantages: More to come Disadvantages: economice climate
3e3eBass has transformed in recent years into a leisure company by selling its smaller pubs for £2.3bn.
Its future strategy is based on expanding its hospitality businesses,
mainly hotels. To reflect the fact that it is one of the world’ s largest hotel companies, with a broad geographic spread of operations, the company has changed its name to Six Continents. Its main hotel brands are Inter-Continental, Holiday Inn, ... ...expected to contribute over 50 per cent of
operating profits.
The interim results showed that the hotels operations had suffered from a slow down in the US economy and, in the UK, from the foot & mouth outbreak, which had affected profits in its London hotels. The US slowdown is continuing to have an impact and the latest data suggests that revenues per available room in the second half will be lower than last year.
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3e3eBass has transformed in recent years into a leisure company by selling its smaller pubs for £2.3bn.
Its future strategy is based on expanding its hospitality businesses, mainly hotels. To reflect the fact that it is one of the world’ s largest hotel companies, with a broad geographic spread of operations, the company has changed its name to Six Continents. Its main hotel brands are Inter-Continental, Holiday Inn, Holiday Inn Express and Crowne Plaza. In 2001, hotels are expected to contribute over 50 per cent of operating profits.
The interim results showed that the hotels operations had suffered from a slow down in the US economy and, in the UK, from the foot & mouth outbreak, which had affected profits in its London hotels. The US slowdown is continuing to have an impact and the latest data suggests that revenues per available room in the second half will be lower than last year.
On a longer view, Six Continents is well placed with its strong brands to benefit from an improving economic outlook. In April, the group acquired the ex-Forte Posthouse hotels from Compass Group for £810m. This gave it an additional 79 hotels with 12,300 rooms, the majority of which will be retained and upgraded to Holiday Inns, offering good prospects for significant revenue increases.
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