News Summary
News Summary
HLL Humberts Leisure
News summary: 10/12/09
ECB reports increase in cricket participation
New research from the England and Wales Cricket Board (ECB) has reported an increase in the number of people playing cricket across the country for the third successive year. According to an annual survey of the national governing body’s Focus Clubs, there has been a 15 per cent increase in participation during 2009, following a 24 per cent and 27 per cent increase in 2008 and 20007 respectively. The number of people participating in disability cricket has increased by two thirds in the last year, while the Sky Sports Coach Education Programme has contributed towards a 14 per cent increase in qualified cricket coaches. ECB chief executive David Collier said: “For cricket to be able to satisfy the increase in demand, it’s essential we continue to invest in building and renovating much needed pavilions, pitches and practice facilities. Without this continued level of investment there is no doubt we will not be able to cater for the increased number of children who are choosing to play cricket.” The survey included all of the 1,079 ECB Focus Clubs across the country.
Source: Leisure Opportunities, 2/12/2009
UK sports clubs ‘defying recession’
Community sports clubs across the UK are withstanding the recession after reporting an increase in membership levels, according to new research by the Central Council of Physical Recreation (CCPR). An independent study of 3,000 clubs - commissioned by the CCPR every other year to gauge the state of grassroots sports – found that 34 per cent had seen an increase in the number of adult memberships and 40 per cent in junior memberships. A total of 73 sports were represented in the Survey of Sports Clubs 2009, with sailing, motor sports and junior football amongst the sports to report the largest growth since 2007. However, golf was the only sport to see a reduction.
Source: Leisure Opportunities, 2/12/2009
JD Wetherspoon plans 250 new pubs
JD Wetherspoon, the Hertfordshire-based pub operator, has unveiled plans to open 250 new properties across the UK over the next five years as it continues to defy the recession. The chain, which unveiled its first pub in 1979 and currently operates 743 sites nationwide, is set to invest £250m in expanding its portfolio, having reported a 4.5 per cent increase in sales in the 13 weeks ending 25 October 2009. New JD Wetherspoon pubs will be located in Sheffield; South Yorkshire; Otley; West Yorkshire; Haverfordwest; Pembrokeshire and Livingstone; West Lothian, as well as Leominster, Herefordshire; Liverpool and Newcastle upon Tyne.
Source: Leisure Opportunities, 2/12/2009
Thomas Cook reports resilient trading
Holiday operaor Thomas Cook has defied expectations by posting a 6 per cent increase in revenue for the year ending 30 September 2009, despite the recession and the impact of the swine flu outbreak. According to the company, there has been continued growth in demand for medium-haul destinations like Turkey and Egypt as a result of the weaker pound, with bookings for 2010 remaining in line with expectations. Thomas Cook chief executive Manny Fontenla-Novoa said: “Looking ahead, the late booking trend is still evident but our winter 2009 – 10 trading position continues to improve and trend towards our planned capacity. Although it is still early in the cycle, bookings for summer 2010 are also in line with our expectations. Recent customer research shows that UK consumers remain intent on taking their holidays abroad next summer and we continue to see strong growth in bookings to medium haul destinations such as Turkey and Egypt.”
Source: Leisure Opportunities, 2/12/2009
Council bid to acquire Blackpool attractions
A number of prominent tourist attractions in Blackpool, Lancashire, could be acquired by the local authority from owner Leisure Parcs in a bid to boost wider efforts to regenerate the seaside resort. Blackpool Council has offered to purchase the attractions – Blackpool Tower, the Winter Gardens, the Golden Mile Centre and Louis Tussauds – if it is able to obtain funding from the European Regional Development Fund (ERDF). The proposal was one of a number of recommendations outlined in a report by the chair of regeneration agency ReBlackpool, Sir Howard Bernstein, which said that bringing the landmarks into public ownership would open up sources of heritage funding that are not available to private sector owners. If a sale can be agreed, the council expects the funding acquired for the acquisition will cover a number of capital works required to revitalise the attractions, while Leisure Parcs would continue to operate the sites until a long-term development strategy is drawn up by the council.
Source: Leisure Opportunities, 9/12/2009
Canary Wharf taps up Saudis for £208m result
Canary Wharf Group has agreed the sale of the former Bear Stearns headquarters at Canary Wharf for £208m. 5 Churchill Place is being sold to a partnership fronted by well-known businessman, Wafic Said, which includes Saudi investors, Capital Generation Partners, the private investment group run by Khaled Said, his son. CB Richard Ellis and Jones Lang LaSalle acted as advisers. The majority of 5 Churchill Place is let to JP Morgan for 20 years at an annual rent of £10.61m. Canary Wharf is providing rent support for two unlet floors. The valuation of the building at the end of June this year was £170m, although this reflected that at that date the building was partially completed and still under construction, and subject to a rent-free period.
Source: Estates Gazette, 10/12/2009
Time out for Pubs 'n' Bars
Pubs 'n' Bars has fallen into the hands of administrators and is preparing to slough off some of the weaker outlets in its 87-strong portfolio of community pubs mostly in the South East of England. The AIM-listed group called in Grant Thornton after discussions with its bank broke down. Last month, Pubs 'n' Bars issued the latest in a series of profit warnings, admitting that its banks were supporting the business on a day-to-day basis amid tough trading conditions and a lack of supplier credit.
Source: Estates Gazette, 10/12/2009
Green light for £30m resort in North Yorkshire
Skelwith Group is to defy the credit crunch by pressing the button this week on the development of Raithwaite Hall in Sandsend, North Yorkshire, into a luxury £30m resort.
The project is expected to be completed in 2011.
Source: Estates Gazette, 10/12/2009