LONDON SAirGroup, the owner of Swissair, said it s considering selling or finding a partner to help run its Swissotel hotel chain. Swissotels had 200 million Swiss francs, or $120 million in revenue in 1999 and an operating profit of 26 million francs, or $15.75 million.
This wouldn t be the first time SAir has examined a sale of Swissotels. The company looked at a sale of the business in the early 1990s. There is no timeframe for the current review, according to Erwin Schaerer, a spokesman for the company. The company has majority stakes in 12 Swissotels, and has management contracts and partial ownership in additional properties. (2/9/01)
SOURCE:Bloomberg