Hints and tips:
...He added that he expects proposals for new restaurant formats — possibly drive-thrus — permanent loyalty programmes and “some sort of franchising”, as well as adding debt to the company....
...In 2009, the company was making an ebitda loss of €9m on revenues of €230m....
...such as Blackstone to list their portfolio companies....
...Together they drove down costs through franchising and property management, reduced debt and increased room count, largely overseas....
...The big hotel groups operate asset-light businesses, having sold most of their real estate to concentrate on brand growth through managing and franchising their hotels....
...Given Hilton’s asset-light strategy of franchising and managing hotels, annual capital expenditure of $500m seems fair, leaving more than adequate cash flow to cover interest costs....
...Among these suggestions were changing its financial reporting to highlight the attractive characteristics of the company’s real estate and franchising operations, beginning an active re-franchising programme...
...Just as McDonald’s wants to run restaurants as well as franchising them, Time Warner’s executives like controlling a cable company as well as networks and a film studio....
International Edition