ccor SA, Europe's biggest hotel owner, said full-year sales increased 6.8 percent as more travelers stayed at its properties in the region and the company fueled growth at the service-voucher unit with acquisitions.
Revenue in fiscal 2007 climbed to 8.12 billion euros ($12 billion) from 7.61 billion euros a year earlier, the Paris-based company said today. That beat the 8.08 billion-euro median estimate of 11 analysts surveyed by Bloomberg News.
Friday, January 18, 2008
Sunday, January 13, 2008
3-Colony takes over Paris St-Germain soccer club
Property investment company Colony Capital has become the top shareholder in soccer club Paris Saint-Germain, the former French champions who have fallen on hard times but still have attractive real estate assets.
On Friday, Colony Capital said it would acquire a roughly 30 percent stake in Paris Saint-Germain (PSG) from private equity firm Butler Capital.
Following the deal, Colony Capital will hold around 62.5 percent of PSG's capital. Butler Capital will hold around 5 percent of the soccer club. The companies did not disclose financial terms of the transaction.
On Friday, Colony Capital said it would acquire a roughly 30 percent stake in Paris Saint-Germain (PSG) from private equity firm Butler Capital.
Following the deal, Colony Capital will hold around 62.5 percent of PSG's capital. Butler Capital will hold around 5 percent of the soccer club. The companies did not disclose financial terms of the transaction.
Monday, January 7, 2008
Club Med Reports Annual Loss on Real-Estate Delays
Club Mediterranee SA, Europe's largest resort operator, reported an annual loss after postponing property transactions because of a slowdown in the real-estate market.
The loss was 8 million euros ($11.8 million) in the year through October, compared with a 5 million-euro profit in the prior period after property sales, the Paris-based company said today. That missed the 3.3 million-euro median profit estimate of six analysts surveyed by Bloomberg.
The loss was 8 million euros ($11.8 million) in the year through October, compared with a 5 million-euro profit in the prior period after property sales, the Paris-based company said today. That missed the 3.3 million-euro median profit estimate of six analysts surveyed by Bloomberg.
Tuesday, January 1, 2008
Cie des Alpes in talks on theme park real estate
PARIS, Dec 19 (Reuters) - French ski resort and theme park operator Cie des Alpes (CDAF.PA: Quote, Profile, Research) said on Wednesday it was in talks to sell real estate near its theme parks to shopping center or holiday home developers.
Chairman Jean-Pierre Sonois told a news conference the group was looking at selling off land in order to drive traffic at its theme parks, which include the Asterix park, north of Paris, and Walibi parks in Belgium, France and Holland.
Chairman Jean-Pierre Sonois told a news conference the group was looking at selling off land in order to drive traffic at its theme parks, which include the Asterix park, north of Paris, and Walibi parks in Belgium, France and Holland.
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