NEW YORK Publishers of the Zagat Survey said they have decided not to sell the company after several months of exploring "strategic opportunities."
Officials from Zagat Survey, which produces the popular restaurant guidebooks, said in January they were considering a sale. At the time, published reports indicated the company could sell for around $200 million.
"We have been very pleased with the strong interest that we have received in the Zagat brand and our unique multi-media business model," founders Tim and Nina Zagat said in a statement. "While we considered some very attractive options, given our company's strong performance and continued momentum, and in light of the current economic climate, we have decided to continue to grow our business organically."
The troubling economic picture has put off other sales, as credit markets conditions have declined. The private-equity owners of Sizzler USA, for example, last month cited a difficult economic climate for their decision to postpone a sale of the 300-unit steak and salad bar chain.
Zagat Survey, created here in 1979 by the Zagats as a hobby, uses more than 300,000 reviewers to cover restaurants and such other leisure activities as travel, nightlife and shopping in more than 100 countries.