Word: walterspiel
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Dates: during 1970-1970
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...Georg Walterspiel, co-owner of Munich's famed old Vier Jahreszeiten, predicts that new U.S. hotels will create "murderous competition in the top class." To meet the American competition, five foreign airlines-BOAC, British European Airways, Lufthansa, Alitalia and Swissair-have teamed up with the London investment banking house of S.G. Warburg and four Eu~-ropean banks to form European Hotel Corp. The combine plans $50 million worth of hotels for the neglected low-price end of the market in London, Paris, Rome, Frankfurt, Munich and Zurich. The American challenge last month prompted a merger by two of Britain...
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