LAS VEGAS Last night at Bass Hotels & Resorts Global Investment Conference here, BHR Chairman Sir Ian Porsser told attendees that Bass is a different company than one year ago in that it has completed the sale of its brewing business and as a result is now able to more clearly focus on lodging.
It would be wrong to suggest that this was an easy decision. The debates were long and the decision was quite emotional. The company will change over the next 12 months to show our strength in the hotel business, he said.
Prosser believes BHR s strong, widely distributed brands (including Holiday Inn, Holiday Inn Express, Staybridge Suites, Crowne Plaza and Inter-Continental) will position the company well for what is expected to be strong international tourism spending over the next few years, according to the World Tourism Organization.
Even if the white hot economy in the United States slows, that will be offset by growth in Europe and Latin America, said Prosser. Bass will experience 10% growth over the next 12 months, he said.
Prosser also noted that the Inter-Continental Hotels brand, since being purchased by BHR more than two years ago, has seen a 60% increase in its profits. (10/3/00)
*More live coverage from the BHR conference to come from HOTEL BUSINESS..