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ON-TRADE NEWS
“standfirst”>Hitting the hard stuff, the controversial deal between UK-based Rank Group and the Seminole tribe in the US over its Hard Rock business…Ready for take off, with less than a year to go until the planned opening of Heathrow’s Terminal 5…
Hitting the hard stuff
The controversial deal between UK-based Rank Group and the Seminole tribe in the US over its Hard Rock business has been completed.The Rank Group is believed to have received £502 million, marginally more than expected. This includes not only Hard Rock’s casinos and restaurants, but also its collection of music memorabilia .The Florida-based Seminole tribe has been involved with the gambling business since 1979, and now has a significant porfolio of hotels, casinos and restaurants. The sale of the Hard Rock group leaves the Rank Group as a purely gambling-based business. It will apparently retain the Hard Rock Casino in London, which it intends to rebrand under its Rank Gaming brand.
Shareholder approval was granted in early January for the deal with the Seminoles, but a lawsuit over alleged malpractice delayed the completion of the deal. There were suggestions that negotiations had secretly taken place between Hard Rock management and the Seminoles up to seven months before the intentions to sell were announced.
Ready for take off
With less than a year to go until the planned opening of Heathrow’s Terminal 5, brands continue to sign up to be a part of the £4.3 billion development.Lovejuice will provide freshly blended smoothies and juices, using recipes from around the world, as well as bespoke combinations. Another brand that will have a significant presence is Giraffe, a company that provides healthy food inspired by cuisines around the world. Terminal 5 will also feature Giraffe’s only early-riser menu. In addition, Giraffe Juice will provide yoghurts, juices, smoothies and Fairtrade espresso-based coffees.The Japanese chain Itsu plans to open its first airport store in Terminal 5. It will provide food such as sushi bento and sashimi platters, as well as take-away boxes.V Bar, as well as serving an array of Mediterranean food, will offer a selection of cocktails, as well as laptop stations. It is the product of a partnership with TRG Concessions, part of The Restaurant Group.
Finally, Caviar House & Prunier will provide healthy food and drink in a calm environment with a fountain and relaxation chairs.
Travelodge’s olympic plans
Travelodge has made its intentions clear about the 2012 Olympics in London, with plans to spend £140 million on 20 new hotels. This will, in theory, make it the largest operator in the city. The investment will effectively double the number of bedrooms it has in London. The intention is to open four of the new hotels in 2007 alone. This will represent 1,000 extra rooms. The hotel chain has consistently backed the Olympic bid. Before the announcement that London had been chosen to host the games, Travelodge had already been supporting the bid, making commitments about room prices. Travelodge is now seeking five sites in the Olympic area alone.
The group’s CEO, Grant Hearn (pictured), commented that “this is a once in a lifetime opportunity for British tourism”.
Latest openings
A new restaurant in London’s Notting Hill, Crescent House, opens this month, with a British menu accompanied by English wines and ales. Set over two floors, and including a significant outdoor area, the ground floor will provide a brasserie-style menu, contrasting with the à la carte menu offered by the fine-dining restaurant upstairs. Staying in London, a new offering from Benugo opened in mid-March at the British Film Institute. Intended to be a more sophisticated version of the existing café and deli, Benugo Bar & Kitchen consists of a lounge, bar and dining area. On the drink front, it offers 45 Old and New World wines, an extensive cocktail list, and a variety of draught and bottled beers.Restaurateur Robert Seigler has opened his third restaurant, The Forge, in Covent Garden. The new eatery features a wine list with over 500 varieties and a modern European menu. A basement bar will benefit from this variety as well.The team behind Hawksmoor and Green & Red, The Underdog Consultancy, has completed its first project: The Hideaway. Located in Archway, this neighbourhood bar features a selection of micro-brewery beers and fresh fruit cocktails. The Hideaway is located on the site of 1960s music venue and “den of iniquity” Dougie’s Hideaway Club. The Park Room at Grosvenor House is the location of the new Charles Heidsieck Oenotheque, which is part of a more extensive restoration of the hotel. This “wine library” will feature ten Champagnes from Charles Heidsieck, and will include some exclusive vintages.
A new riverside retail and residential development in Stafford is the location of the latest addition to the Barracuda portfolio. The Yard represents an £800,000 investment.
© db April 2007