Global Hospitality News - ARCHIVE 2002

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News Archive for August, 2002

August 1 - August 14

August 1, 2002

MeriStar Hotels & Resorts' and Interstate Hotels' Shareholders Approve Merger

MeriStar Hotels & Resorts (NYSE: MMH) and Interstate Hotels Corporation (Nasdaq: IHCO) today announced that MeriStar and Interstate stockholders have approved a proposed merger of the two companies at stockholder meetings held earlier today in Washington and Pittsburgh.

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Accor First-Half 2002 Sales Hold Steady at EUR 3,585 Million; Reported Sales Down 0.4%; Up 1.0% Excluding Currency Effect

Consolidated sales were down by a slight 0.4% at June 30, 2002. Excluding the currency effect, sales were up by 1.0% for the period. Hotel sales were stable, reflecting a 3.3% gain from business expansion and a 1.8% decrease due to asset disposals.

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Hilton Earnings Down on Business Travel

Hilton Hotels Corporation reported financial results for the second quarter and six months ended June 30, 2002.

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Starwood Announces Sale of Certain CIGA Assets

As already reported, Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) announced that it has signed an exclusive letter of intent to sell its assets in Sardinia, Italy to a consortium of Italian investors for EUR 350 million, subject to regulatory approvals and final adjustments.

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Kahala Mandarin Oriental, Hawaii introduces new concept in Spa experience and design with launch of Spa Suite

A highly personalised spa concept has just been launched at Hawaii's premier beachfront resort, Kahala Mandarin Oriental.

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Orange County Market Overview

Written By:  Jennifer Hsu  HVS International

Similar to the rest of the nation, Orange County is feeling the effects of the recent national economic slowdown. However, year-end 2001 data indicate that the effects have been less severe in Orange County than in other parts of the country.

For full report, Click Here

Fifth Holiday Inn to Open in Brazil Over Past Two Years, and One of Seven Slated to Open by End of 2003

Six Continents Hotels, the world's most global hotel company, continues the expansion of its Holiday Inn brand in Brazil with the opening of the 224-room, 11-story Holiday Inn Select Bahia, located on the Atlantic beachfront in Bahia, Brazil. The Holiday Inn Select brand, "where business class is standard," is the fifth Holiday Inn to open in Brazil over the past two years, and one of an additional seven Holiday Inn properties under construction and coming on line by the end of 2003.

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August 2, 2002

Prime Hospitality Corp. Reports Second Quarter Results

Prime Hospitality Corp. (NYSE:PDQ), a leading hotel owner, operator and franchisor, reported its results for the second quarter and six months ended June 30, 2002. Net income before asset transactions and other charges for the second quarter was $6.1 million, or $.13 per share, compared to $11.7 million, or $.26 per share, for the second quarter of 2001.

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Hong Kong June 2002 arrivals grow 6% - forecasts well on track

Latest figures released by the Hong Kong Tourism Board (HKTB) show that Hong Kong welcomed 1,174,202 visitors in June 2002. This represents an encouraging 6.0% year-on-year increase in what is always one of the quieter tourist months of the year.

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Palm Springs Market Overview

Written By: Namit Malhotra    HVS International

Prior to the events of September 11th, the market was performing at levels on par with 2000; however, since September 11th the market occupancy declined somewhat.

For full HVS International report, Click Here

PATA releases E-Fare Barometer

The Pacific Asia Travel Association (PATA) has released its latest E-Fare Barometer which shows the disparity in ex-Frankfurt air fares for 10 Asian destinations booked via the Internet on e-bookers.com. The aim of the PATA E-Fare Barometer series is to assess the competitiveness of Asian destinations in key tourism source markets by comparing air fares available to consumers through Internet travel portals.

For details of the report,   Click Here

Green light for the transformation of WTO into a specialized agency of the United Nations

The World Tourism Organization may soon gain more international status and recognition as a specialized agency of the UN.

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Australian Tourism Struggle Continues

New figures reveal Australia's tourism industry continues to be hit by major events of last year as well as global economic uncertainty with overall arrivals dropping by five per cent for the first six month this year.

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Bali and Tasmania voted two "Best Islands"

Representatives of both Bali and Tasmania are celebrating being named first and second "Best Islands" in the US magazine Travel and Leisure's 2002 Reader's Choice Awards.

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GHM takes over The Andaman, Langkawi - but loses two Bali properties

As of 1 September 2002 , Singapore based General Hotel Management, will assume responsibility for the management of The Andaman, a deluxe 188-room property located on the island of Langkawi in Malaysia . Formerly self-managed by the Owner, The Andaman is adjacent to GHM's award-winning property, The Datai.

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August 5, 2002

Four Seasons profit sags, sees lower 2002 earnings

Four Seasons Hotels Inc., a barometer of the top-end travel sector, reported a drop in second-quarter profit on Friday due to a bigger than expected loss at its New York luxury hotel and weak demand for rooms at its U.S. city properties.

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Hilton Follows Peers, Lowers Outlook

Hilton Hotels Corp. reported second-quarter earnings that held up better than many of its peers, but lowered its outlook for the rest of the year bringing it more in line with the rest of the struggling hotel industry.

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Felcor's Second Quarter 2002 Funds From Operations $0.69 Per Share

FelCor Lodging Trust Incorporated (NYSE: FCH), one of the nation's largest hotel real estate investment trusts (REITs), reported operating results for the second quarter ended June 30, 2002.

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Mandarin cautious despite 96pc profit lift to US$ 12m

Luxury hotel operator Mandarin Oriental International reported a 96 per cent surge in first-half profits but warned an uncertain global economy continued to affect business.

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Barry Sternlicht of Starwood Hotels & Resorts Worldwide to Provide Keynote Address at the 13th Annual Hotel Investment Conference Asia Pacific (HICAP)

Barry S. Sternlicht, chairman and chief executive officer of Starwood Hotels & Resorts Worldwide, Inc. will address delegates at the 13th Annual Hotel Investment Conference Asia Pacific (HICAP) on October 17, 2002. HICAP, formerly known as the Asia Pacific Hotel Investment Conference, will be held October 16-18, 2002 in Hong Kong.

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Holiday Inn Hotels Celebrates 50th Anniversary

August 1, 2002 marked the 50th anniversary of America's Hotel, Holiday Inn Hotels & Resorts. American entrepreneur Kemmons Wilson opened the first Holiday Inn hotel in 1952 in Memphis, Tennessee, after he returned from a family road trip discouraged over the lack of family and value-oriented lodging.

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The Changing World of Trade Buyers

Issues facing buyers by and large, buyers (comprising of travel agents, tour operators and wholesalers) are being affected by many factors. Buyers are becoming very selective about the marts they attend, and mart-organisers have to make sure that participating buyers will find the products they are looking for. Both have to ensure improved quality of contact.

For full details of this comprehensive PATA report, Click Here

August 6, 2002

Singapore's BIL International agrees to sell Thistle Hotels - report

As reported yesterday, Singapore's BIL International gave its consent to sell London-based Thistle Hotels, in which it holds a 46% stake.

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Marriott Balance of Power Shifts Hotel Owner Asserts More Control Over How Its Properties Are Managed

A new agreement between hotel owner Host Marriott Corp. and management company Marriott International Inc. gives Host more control over how its properties are run and requires it to pay less.

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San Francisco Market Overview

Written By:  Suzanne Mellen & Madhuri Anji  HVS International

The San Francisco lodging industry has experienced a dramatic reversal of fortune over the last two years. In 2000, the San Francisco lodging industry was one of the hottest in the nation and posted its best performance ever.

For comprehensive HVS Intl report, Click Here

RFS Hotel Investors quarterly results slide

Hotel real estate investment trust RFS Hotel Investors Inc. (RFS) on Wednesday said its quarterly funds from operations fell due to a downturn in business travel.

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Far East Hotels to buy several 3-star hotels in Hong Kong, China, S.E. Asia

Far East Hotels and Entertainment Ltd (37.HK) is planning to acquire various three-star hotels in Hong Kong, China and Southeast Asia, the Hong Kong Economic Times reported, citing managing director Derek Chiu.

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MeriStar sells three U.S. hotels

MeriStar Hospitality Corp. one of the top U.S. hotel owners, said on Thursday it has sold three hotels to pay down debt, marking a rare transaction in one of the slowest markets for hotel sales in recent memory.

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Jarvis Hotels 1st 16 wks turnover down 3%; still sees drop in H1 profits

Jarvis Hotels PLC said turnover for the first 16 weeks of the current financial year is running 3% below last year, adding it would be prudent to continue to anticipate a reduction in first half profits compared to last year.

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South Pacific Tourism Update

For further details of this report, Click Here

Wyndham International's Golden Door Spas Considered "World's Best'' by Readers of Travel + Leisure

The Boulders and the Wyndham Peaks Also Earn Top Hotel Accolades for 2002 on T&L's Top 100 List

Three Wyndham International Golden Door Spas and two resort properties have been honored among the top hotels and spas in the continental U.S. and Canada by discriminating readers of Travel + Leisure.

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August 7, 2002

Bidders line up for Travelodge

Financial bidders are lining up to take part in Compass Group's Pounds 600 million auction of Travelodge and Little Chef with a view to pursuing a securitisation of the two roadside businesses.

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BIL denies agreeing to sell stake in Thistle hotels

BIL International Ltd. on Monday denied reports it had agreed to sell its stake in British chain Thistle Hotels plc.

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News@PATA

For this weeks PATA update, Click Here

Singapore to open graduate school in hotel management

Singapore will open a school next year offering post-graduate and executive development courses to raise professionalism in the tourism industry, the city-state's tourism board said Monday.

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Travel agents try to outflank the Web

With so many Web sites offering consumers discount airfares and low-cost hotel rooms, you'd be forgiven for thinking that garden-variety travel agents all have one-way tickets to Dinosaur Land. But travel agents are still a force to be reckoned with, despite increased competition from the likes of Expedia, Orbitz and Travelocity.

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Sacramento Market Overview

The state capital of the nation's most populous state, Sacramento has long enjoyed a degree of economic stability in terms of hotel demand.

For full report, Click Here

Zero Hotel Commission? Another commission debacle for travel agents ensues

As AntiTrust Travel Agency Compensation (ATTAC) readies their fight with the airline industry for implementing the zero commission rule, another situation has emerged wherein travel agents deal with commission woes anew.

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New designer hotel for Bangkok

Bangkok will have a 'designer' hotel by late this year. The Davis, will be managed by Amari Hotels and Resorts.

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Feel calm enough for a career in hotel and catering?

Whatever you do, don't mention Fawlty Towers

Mention a career in the hotel and catering and up pops the image of Basil Fawlty, that competitive, aggressive and impatient hotel manager who made his guests wish that they weren't there. Yet in today's hotel and catering industry, which now straddles careers in hospitality, leisure and tourism, someone like Mr Fawlty would not get house room.

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August 8, 2002

Best Western Announces Second Quarter Development Results

World's Largest Hotel Chain Adds 74 Properties

Best Western, The World's Largest Hotel Chain(TM), added 41 hotels in North America and 33 new international hotels in the second fiscal quarter ended May 30.

For detailed report Click Here

Gresham Hotels sees FY profits below mkt forecasts, appoints joint chairman

Gresham Hotel Group PLC warned stockbroker forecasts of profitability for the current year will not now be achieved after trading has remained challenging in line with conditions in the tourism industry.

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China opening up for business travelers

As China's economy continues to boom, getting a business visa is much easier than it used to be, as Kevin Ng and April Liao of Deloitte & Touche explain in this special report.

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Thai govt. may scrap plans for tourism ministry

TravelWeeklyEast Exclusive

Plans by the government to set up a Ministry of Culture and Tourism look likely to be scrapped, an executive source at the Tourism Authority of Thailand (TAT) told TravelWeekly.

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Bahrain's National Hotels company posts 41 percent rise in net profit

Half-annual profits of the Manama-based National Hotels Company (NHC) rose an impressive 41 percent, reaching 850,000 Bahraini dinars ($2.25 million), up from a net profit of BD600,000 reported between January and June 2001.

World's biggest hotel/casino opens

Despite casino gambling being illegal for Muslims and Malaysians, Malaysia plays host to what Proprietor Lim Goh-tong claims to be the world's largest hotel. Goh-tong, a Chinese immigrant, has parlayed a hillside in the Malaysian jungle into the engine room behind a billion-dollar empire.

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San Jose (Silicon Valley)
Market Overview

Once the epicenter of strong market performance in Northern California in 2000, the Silicon Valley hotel market experienced a dramatic reversal of fortunes in 2001 and 2002.In the North San Jose submarket, RevPAR decreased by 32%, from $117.63 in 2000 to $79.99 in 2001. Year-to-date data indicate that a rebound has yet to occur.

For detailed HVS International report, Click Here

AIME 2003 on Target for More Hosted Buyers

A record number of industry professionals have been quick to apply for Hosted Buyer status at AIME 2003, the AsiaPacific Incentives and Meetings Expo, 18-19 February at the Melbourne Exhibition and Convention Centre (MECC). Compared with the same time last year, Hosted Buyer applications are up, with significantly more applications from the US and Europe.

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Boutique Hotels arrive in India: Tailor-made For Your Taste

Times are-a-changing and the latest entrant in accommodation business is the boutique hotel, offering rooms with personality. The industry, on a downturn for the past year, is recognising the revenue model of boutique hotels. They are the solution to falling occupancies and revenues.

For further details, Click Here

August 9, 2002

MeriStar Hospitality Corporation Reports Second-Quarter Result

MeriStar Hospitality Corporation (NYSE: MHX), the nation's third largest hotel real estate investment trust (REIT), announced financial results for the second quarter ended June 30, 2002.

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Sol Meli? Hotels & Resorts has reported revenues of Euro 447.7 Million for the first half of 2002

Sol Meli? Hotels & Resorts has reported revenues of 477.7 million Euros during the first half of the year, 3.3% less than in 2001. Meanwhile, RevPar (revenues per available room) across the company fell by 7.3% compared to the first half of 2001.

For further details, Click Here

Napa Market Overview

Written By: Harry Madhoo HVS International

The Napa hotel market derives a large portion of its guestroom demand from throughout the greater San Francisco Bay Area. While the economic vitality of all nine counties in the San Francisco Bay Area has the most direct impact, Napa is also a regional, national, and international destination, attracting visitors from across the nation and other countries.

For detailed HVS International report, Click Here

Boykin Lodging earnings drop

Boykin Lodging Company (BOY) on Tuesday said quarterly earnings fell despite revenue for the real estate investment trust coming in at the high end of the expected range and margins improving more than expected.

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Oman: NHI sees better job chances for women in hospitality sector

The National Hospitality Institute (NHI), one of the growing private institutes here, is looking forward to developing the hospitality industry in Oman by keeping the housekeeping profile up and providing better customer services in hotels around the Sultanate, said Sue Fisher, housekeeping instructor at the NHI, yesterday.

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Raffles' Jennie Chua to chair new Hotel Management School in Singapore

Singapore's new Hotel Management School International announced in yesterday's TravelWeekly E-Daily has already identified a chief executive officer and is in negotiations with a leading international academic partner. Jennie Chua, president and chief operating officer of Raffles International, who will chair HMS, said the CEO's name would be revealed in two to three weeks time. She also said HMS was in the midst of finalising a partnership with a top institution.

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Kevin Murphy heads PATA Mart Committee

Kevin Murphy of Great Eagle Hotels has been named as Chairman of the PATA Travel Mart Advisory Committee, which will help determine the future of the regional event.

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August 12, 2002

Global Staff Movements: Who's where and doing what

Edited by Benoit Gateau-Cumin, President, The Boutique Search Firm

For this popular world-wide update , Click Here

'Demanding' London hits M&C profits

e-Tid.com - Millennium & Copthorne Hotels, which owns or operates 91 properties in 13 countries worldwide, reported a 55% fall in first-half pretax profits to ?25.6m, from ?46.2m last year. Turnover dropped from ?313.5m to ?283.8m, while sales decreased by 9.4% year-on-year to ?283.8m. Average occupancy was down 1 point at 66%.

For details, Click Here

Monterey Peninsula Market Overview

For detailed report, Click Here

Orient-Express Hotels Announces Second Quarter and Six Months Results

Orient-Express Hotels Ltd., luxury hotel, restaurant, tourist train and river cruise ship operator announced its results for the second quarter and six months ended June 30, 2002.

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BTA says 2002 performing as expected

The British Tourism Authority has responded to the government's June tourism statistics following the news that the govt plans to look into the efficacy of its UKOK and 'Only in Britain, Only in 2002' campaigns.

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TIA 2002 Forecast: Projects Domestic Business Travel Turnaround, Leisure Travel Continues To Grow

The Travel Industry Association of America's (TIA) official Travel Forecast projects that the decline in business travel that many sectors of the travel industry are feeling will turn around.

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South Africa Tourism Still Growing, Helped By Local Tourists

Domestic travellers still dominate industry WHILE SA is experiencing growth in foreign tourist numbers, local citizens still represent the bulk of the market at 67%.

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HEDNA Extends its Educational Program Offerings into Latin America & the Caribbean

In a major move to further its mission to expand the availability of educational opportunities related to electronic distribution, the Hotel Electronic Distribution Network Association (HEDNA) has decided to present their HEDNA University two-day seminar in several key locations in Latin America and the Caribbean during the upcoming months.

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Sydney: The glut feeling is no hotel room boom

The oversupplied Sydney hotel market could recover by the end of the year but prospects for the better performing Melbourne market are not nearly as good.

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August 13, 2002

Winston Hotels Reports Second Quarter 2002 Results; FFO Per Share Exceeds Analysts' Consensus Estimate by $0.02

Winston Hotels, Inc. a real estate investment trust (REIT) and owner of premium limited-service, upscale extended-stay and full-service hotels, announced results for the second quarter and six months ended June 30, 2002.

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Reed launches Asia Business Travel Market

Reed Travel Exhibitions is set to announce the launch of Asia Business Travel Market (ABTM), a dual location exhibition and conference targeting the Greater China business travel market.

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Asia-Pacific traffic recovers

Members of the Association of Asia-Pacific Airlines (AAPA) continue to claw back business lost after September 11.

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At some hotels, dog days have dawned

Hurt by travel slump, they're now pet-friendly

Chicago's poshest hotels are putting on the dog. Make that putting up the dog. With a surplus of rooms amid a prolonged travel slump, local hotel managers figure that an array of services for traveling pooches and other pets will give them an edge in competing for the traveler who won't leave home without his or her best friend.

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Tourism won' t offset biz travel dip

Spending more to woo less-profitable market - The map-wielding meanderers on Michigan Avenue, the impatient out-of-towners waiting to be captured by a Navy Pier caricaturist and the long lines at hotel concierge desks tell the story. As Chicago's peak summer tourist season heats up, an array of public- and private-sector initiatives is drawing more leisure travelers to the city.

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Hotels to make room for online surge

The use of Web sites to book hotel stays is poised to explode, and it could force hotels to pare the prices they charge for rooms, according to a new report from Bear Stearns. "The online travel agencies, merchants and auctions, as well as slower business demand, put increasing pressure" on rates, analyst Jason Ader said in the research report.

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Business travel: Hotel lore from female travelers

A lot of women think hotels have a lot to learn about female business travelers. That conclusion is based on the hearty response by readers to last week's column, in which a female business traveler compared her experiences on one trip at two hotels, one an all-suites brand and the other an airport hotel, owned by the same company.

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Tourism industry to push for national marketing corporation

Tourism industry leaders plan to ask for a national organization to sell the United States as a destination to international travelers.

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Introducing the Travel Tourism and Leisure group

The Travel, Tourism and Leisure Industry is going through an unprecedented period of change. Companies working within the industry are being faced with increasingly complex issues surrounding branding, operational excellence, asset ownership, emerging technologies and growth. Deloitte & Touche's Travel Tourism & Leisure group (TTL) focus on a deep understanding of the industry and business issues pertinent to each individual client, ensures an excellence of service unequalled in the marketplace.

For details, Click Here

August 14, 2002

Cendant buys Lodging.com

Cendant Corporation (NYSE:CD) announced that it has acquired Lodging.com. Lodging.com is a leading and growing online hotel reservation travel site, generating approximately 115,000 hotel reservations per month predominantly through its network of web sites as well as through its call center at 888-LODGING. The transaction is expected to be accretive to earnings but not material to Cendant. The consideration paid was in the form of cash.

For details, Click Here

Richard Lewis to join Summit Hotels & Resorts as Managing Director

Summit Hotels & Resorts has announced that Richard Lewis, formerly Chief Operating Officer for WorldRes Europe, the Middle East and Africa (EMEA), will be joining the luxury international hotel group as Managing Director, as of September 2nd 2002.

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Legacy Hotels Boss Bruno Corte dies

Bruno Corte, one of South Africa's foremost hotel businessmen, was shot dead in cold blood during a botched robbery on Saturday night. Corte, 59, who was managing director of Legacy Hotels, the chain that owns the posh Michelangelo Hotel in Sandton, was murdered while shopping at Woolworths at a shopping centre in Melville.

For details, Click Here

News@ PATA

For the rest of this weeks PATA news and update, Click Here

New tourism council for Thailand

A new central tourism council has been set up in Thailand to support the private sector and to promote new initiatives aimed at shaping government policy for travel related business.

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Philippine's Hotel occupancy climbs to 60.6%

Summer is a time of merriment for hotels and tourist spots in the Philippines, this being the peak of arrival of foreign visitors in the country. It is also the season when local residents are in for a nice, warm vacation.

For detailed report, Click Here

TravelCLICK Advises Hotels to Face Challenging Budget Period Head-On

TravelCLICK, released advice to hotels for facing the challenging budget period head on, providing a list of marketing "must-do's" for every hotelier.

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China's hotels graded by environmental standard

The benchmark of eco-efficient hotels are under way in China and the first group of green hotels and restaurants with eco logo will receive their certification this September, China Daily reported Monday.

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August 15, 2002

Candlewood Hotel Company Reports Second Quarter 2002 Results

Candlewood Hotel Company, Inc. (NASDAQ: CNDL) , a leading owner, manager, and franchisor of high-quality, value-oriented, business-travel hotels, announced results for its second quarter ended June 30, 2002.

For detailed report, Click Here

Hyatt's expansion under way

Hyatt International's global expansion project is taking off in 2002, with three hotels opening worldwide in August and a total of 17 being under development for opening over the next three years.

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BFA to host first tourism conference in Guilin

The Boao Forum for Asia (BFA), a non-profit organisation made up of senior Asian leaders will host its first tourism-focused conference in Guilin this year. In a joint press conference in Beijing yesterday, the China National Tourism Administration (CNTA) and the BFA announced a new tourism forum will be held from November 10-13 in Guilin.

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Australia seeks to revive Japan market

The Australian government has launched an action plan which it hopes will lead to a revival of growth in Japanese tourists Down Under.

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Accor hosts largest gathering of travel writers in Vietnam

Accor recently hosted the largest gathering of travel journalists in Vietnam when 180 Australian travel journalists and tourism PR executives attended the 2002 Australian Society of Travel Writers Association's Annual General Meeting. Held at Sofitel Plaza Saigon in Ho Chi Minh City, the event was sponsored by Vietnam Airlines, Vietnam National Administration of Tourism (VNAT) and Accor.

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Singapore: Tourist arrivals from China and India to sharply increase

Chinese and Indian tourists are expected to contribute $ 578 million and $ 938 million respectively to Singapore's economy in 2006 - more than doubling their contributions in 2000.

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Dorint expands further

German hotel group, Dorint Hotels and Resorts, has opened the doors of two new hotels in Hamburg and Switzerland and plans six more openings across Germany in 2002.

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Business booming in Dubai according to Le Meridien

Business in Dubai is better than ever, according to Russel Sharpe, senior vice president sales and marketing, Le Meridien Middle East and West Asia, as occupancy regularly hits 100 per cent in available rooms over the normally quiet summer period.

For details, Click Here