Hilton Group has threatened to block plans for a 210-room luxury hotel as part of the redevelopment of Wembley Stadium.
Wembley National Stadium (WNS) is planning a £475m redevelopment to make the Wembley site the centre of a bid for the 2006 World Cup. Hotel revenues are crucial to the business plan that WNS is due to put before the City next year. The scheme needs the approval of Hilton which has its own hotel next to the stadium. It has sole rights to run hotels on the Wembley site under the terms of the lease.
Meanwhile Wembley is considering buying more race tracks or other leisure outlets such as bingo halls. It reported first-half pretax profits up 2.3% to £13.4m on turnover down from £60m to £58.3m.
The Times 03/09/99 page 29, page 31
The Daily Telegraph 03/09/99 page 31, page 32 (Questor)
Financial Times 03/09/99 page 22, page 31
The Independent 03/09/99 page 21
The Guardian 03/09/99 page 21
