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Sodexo's sport and leisure business targets China in growth drive

Reuters  |  PARIS 

By Dominique Vidalon

(Reuters) - Sodexo's sport and leisure business, which provides catering at the U.S. Super Bowl, Royal Ascot and the Eiffel Tower, will focus on organic growth as it integrates its 2017 U.S. acquisition

Nathalie Bellon Szabo, the of Sodexo's Sports & Leisure Worldwide said it plans to grow in its three key markets of the United States, and Britain by securing more contracts and also look to expand in

The business, which recently secured a contract for lounges in Hong Kong, will pursue contracts for airport lounges in China, as well as contracts for stadiums, museums and convention centres.

is the world's second-largest catering services group after Britain's Compass, generating annual revenue of 20 billion euros ($22.6 billion).

Its sport and leisure business, which provides tickets, travel, and logistics, bought Centerplate, a U.S. company catering at events such as and the U.S. Presidential inaugural balls for $675 million.

This doubled its revenue to 1.7 billion euros and made the its top market, with 65 percent of its revenue.

"We now need to stabilise our growth and expand organically in our segments and key countries and focus on improving our profitability," Bellon Szabo told reporters.

It also owns and runs the Lido cabaret in and the Yachts de and Bateaux Parisiens River Seine cruises.

It recently secured a contract to manage the Eiffel Tower's restaurants for another ten years, with a target of boosting by 35 percent revenues of roughly 40 million euros under the previous deal.

($1 = 0.8847 euros)

(Reporting by Dominique Vidalon; Editing by Sudip Kar-Gupta and Alexander Smith)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, February 12 2019. 22:38 IST
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