Australia's Foster's Group, which last month officially spun off its wine interests, has rejected an unsolicited $10 billion takeover bid from SABMiller because the bid "significantly undervalues" the company. According to The Australian, the SAB move follows a revised deal with its joint venture partner, Coca-Cola Amatil, and another unsolicited run at Foster's — by Mexico's Modelo brewery — last week.

Click here for the NYT's take, or watch SABMiller CEO Graham Mackay's comments below.

While the global economic recovery may be meager, hotels chains are anxious to move on and drive up occupancy rates. That's why two of the top chains, Marriott International and Hilton Worldwide, are pursuing new initiatives to convince upscale travelers to stay at their high-end properties.

Marriott is forming "strategic partnerships" with other brands to create "a deeper luxury guest experience." The company said it will work with Aromatherapy Associates, auction house Christie's, nutritionist Keri Glassman, international vintner Treasury Wine Estates, and Tumi, makers of travel luggage, eyewear and accessories.

In partnership with Christie's, for example, its Grosvenor House in London, a JW Marriott Hotel, is hosting a unique photographic exhibition this month — Beatles Illuminated: The Discovered Works of Mike Mitchell — which brought out celebrities such as Sienna Miller to the preview of never-before-seen photographs of the Beatles’ first hysteria-inducing trip to America in 1964.

Marriott will marshal these partners specifically to enhance its JW Marriott hotel brand, which is a notch below Marriott's ritzy Ritz-Carlton, but ranks above Marriott hotels. Mitzi Gaskins, VP of JW Marriott, admitted to the New York Times that there is "some confusion" between JW Marriott and Marriott.Continue reading...

Ahead of spinning off its global wine assets from its beer division next year, Australia's Foster's Group this week renamed its global wine business, the second-largest in the world.

Now known as Treasury Wine Estates ahead of the split, its 50 wine brands include Penfolds, Lindemans, Wolf Blass, Rosemount, Stags' Leap, Wynn, Beringer and Castello di Gabbiano.

An impressive collection, to be sure, but one that also brought less than impressive financial results to Foster's, one of Australia's iconic brands.Continue reading...