Jarvis Hotels, the hotel chain which listed on the London stock
market in 1996, has switched its financial PR account from Ludgate
Communications to Financial Dynamics.
Ludgate has handled PR for Jarvis since May 1996 when it was brought in
to work on the flotation. It was subsequently retained to handle ongoing
financial PR for Jarvis.
Jarvis owns around 70 hotels in the UK and is keen to continue growth
through acquisitions of hotels following recent property purchases in
Norwich and Kidderminster. It also runs a chain of conference facilities
called Summit Conference and the Sebastian Coe Health Club brand which
locates its facilities in Jarvis hotels.
Since its flotation Jarvis has been linked with a failed takeover
attempt for rival chain Hanover International.
The FD team will report to Jarvis’ chairman and chief executive John
Jarvis, who ran Ladbroke Group’s hotel arm before establishing Jarvis
Hotels. The hotel group floated at 175p in June 1996 and is now trading
at 171p. Its shares have performed well in recent months despite a
slight slowing of growth in the hotel sector due to the strong pound.
Jarvis’ profits for the year ended March 1997 were up 29.5 per cent to
pounds 24.1 million on turnover of pounds 118.2 million.
The Jarvis win is the latest in a series since FD’s management, led by
Nick Miles, staged a mangement buyout (PR Week, 16 January).