12 December 2022, etc.venues Monument, London
Business Travel Show Europe, presented by The BTN
21 November, London Hilton Metropole
Iberia has put off a decision on whether to open its books to the expected bid for it by a consortium led by TPG Capital and BA.
The Spanish airlines said it would decide "shortly" on the request.
It had previously confirmed that it had been contacted by the consortium which also includes Vista Capital, an investment fund owned by the Spanish bank Santander and the Royal Bank of Scotland, and two private equity firms Ibersuizas and Quercus Equity.
A report in a Spanish newspaper said that an Iberia shareholder had asked Credit Suisse to find higher bidders for the carrier.
The paper, ABC said the shareholder, Caja Madrid, which holds 10% of Iberia, regarded the consortium bid as too low.
TPG has already offered €3.4bn for the airline.
The consortium was put together with a strong Spanish element to ensure that Iberia stayed in Spanish ownership to preserve bi-lateral deals Spain has on routes to South American countries.
BA, which owns 10% of Iberia and has an option on a further 25.6%, has said that it will not put up any cash for any bid for the carrier.
Room rates leap in London
The average daily room yield in London hotels rose by 14.7% in the 12 months from April 2006 to April 2007.
New figures from hotel analysts PKF Consulting said the average yield on a room in the UK capital was now £94.95 compared to £82.42 a year ago.
PKF added: "The increase was driven solely by the average daily room rate - which rose from £103.77 in 2006 to £119.04 in 2007 - while the daily room occupancy remained unchanged at 79.4%."
In the UK regions, average room rates increased in all main cities by 3.5% on the figure for April 2006.
This put up average rates from £66.68 in 2006 to £69.02 in 2007.
In contrast, occupancy decreased from 71.9% in 2006 to 69.5% in 2007 – a drop of 3.4%.
Robert Barnard, a partner at PKF, said: "The preliminary April figures for London suggest that the strength of the pound has begun to deter US visitors.
"However, visitor numbers traditionally fall around the Easter holiday period because of the drop in business visitors to the capital.
"What must be worrying, given the increase in inflation, is the continuing rise in room rate across the sector."