Quote of the Week

"Gordon's not in the top 100 but I don't feel sorry for him at all. In
today's world a chef is only going to be successful if he's in the kitchen.
People want more than a name."

Marcus Wareing on the annual Top 100 listing of the world's best
restaurants.

Person of the Week

Nick Varney
Chief Executive, Merlin Entertainments

This week it was announced the Merlin Entertainments was placed in the number 1 spot of the Profit Track 100 listing. The survey measures firms profit growth over their last three financial years, providing a picture of the UK's top performing private businesses. Merlin has achieved double-digit organic growth in EBITDA for the last eight years, whilst acquisitions have helped to fuel profit growth of 130% a year. Varney has previously stated that he would like to "shoot to be the best" and take the top spot from Disney in the visitor attractions league table.

Other industry winners include: Pure Leisure Group (25), Pret a Manger (35) and Q Hotels (80).

http://www.fasttrack.co.uk/fasttrack2002/bin/2009-ProfitTrack100.pdf

Article of the week

Did you know that En Passant produces a bi-monthly magazine? Each week we will publish an online article from a previous issue. Check out this week's article on Arthur Potts-Dawson, the environmentally conscious chef who is responsible for Acorn House and Water House restaurants. It's entitled, "Is sustainability sustainable?"

If you would like to find out more, or are interested in subscribing click here.

Facts of the week

Hilton suspends lifestyle team after lawsuit

• This story has been developing over the past week or so, and Starwood have now filed a lawsuit claiming corporate espionage and the theft of confidential information relating to the launch of new "lifestyle" brand.
• Hilton has since suspended development of the Denizen brand and put it's luxury and lifestyle team on paid administrative leave pending a review of the situation.
• Ross Klein and Amar Lalvani, former Starwood employees, are named as co-defendants in the suit.
• It is alleged that they "took and encouraged other Starwood employees to take with them to Hilton over 100,000 electronic and hard copy files..."
• Hilton launched Denizen at a hotel conference in Berlin last month and states that active development talks were under way for hotels in a host of global cities.

Source: ft.com

A new world order?

• This opinion piece by Hamish McRae starts by looking at the trends in global demand, which the writer argues is being driven by the four BRIC countries (Brazil, Russia, India and China).
• He makes the point that the shift towards these countries is taking place even faster than initially predicated six years ago.
• It concludes with a debate on the question over "saving nations" versus "borrowing nations"; and argues that changes in financial attitudes will be central to recovery...and a shift in power. Particularly poignant in light of the revelation this week by UK Chancellor Alistair Darling that borrowing will be 79% of GDP in 2013-14.
• In the newspaper the accompanying graph shows that Goldman Sachs think that by as early as 2030, the top 6 economic powers will be:

  1. China
  2. USA
  3. India
  4. Japan
  5. Brazil
  6. Russia

Source: independent.co.uk

FM 2015
Think Tank Event

13 May 2009
The Hague University

This global think tank event is an opportunity for the FM and contracting
markets to engage in thought-provoking discussion about the future of the
industry.

Check out the EP website to find out more about the programme and speakers, and to register your place.