Briefs	E-mail PagePrint Version

DISNEY MAY JETTISON BRAND STORES

BURBANK - The Walt Disney Co. is considering shedding its money-losing chain of stores in North America and Europe and will probably speed up store closures as it prepares for a sale, reports Reuters. Disney sold its Japanese stores in 2001 to the company that operates Disney theme parks in Tokyo, and it said on Thursday the licensing model in that deal could be good for the worldwide chain of 501 Disney-owned stores. The stores selling products such as Mickey Mouse and Winnie the Pooh merchandise and theme park tickets were a symbol of Disney clout a few years ago, but executives have said the chain over-expanded. The chain has been reduced from 522 stores in North America to 387 with a total of 548 worldwide, including 47 stores purchased in 2001 by Tokyo-based Oriental Land Co. Ltd., which runs Disney's theme parks in Japan. The company said it would probably close more stores as leases expire while the sale process proceeds.
 
EU HOTEL JOINT VENTURE APPROVED
 
BRUSSELS - European Union regulators have approved a joint venture involving French hotel chain Accor SA, British-based Hilton Group PLC, Six Continents Hotels, and US-based WorldRes.com to develop an integrated Internet-based reservation system. The European Commission said the deal does not give rise to any significant competition concerns because it would have only a minor share of the market. The system also will have built in safeguards to prevent coordination of strategies. The joint venture - called WorldRes Europe - will operate an online system for the partners to store, manage and distribute room rates and availability information, allowing real-time reservations. Accor operates 3,835 hotels in 90 countries under the Sofitel, Novotel, Mercure, Ibis, Formule 1 and Etap brands; the Hilton Group owns about 415 hotels, of which 150 are marketed under the Hilton, Scandic and Conrad brands; and Six Continents operates 3,325 hotels worldwide under a number of brands, including InterContinental, Crowne Plaza and Holiday Inn.

Go back, or read the latest briefs:

TRADE

empty