Global Hospitality News - ARCHIVE 2003
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News Archive for February, 2003
February 1- 15, 2003
February 3, 2003
Major restructure at 6C
Six Continents Hotels is understood to be conducting a major restructure of its organisation.
It is understood Richard Hartman, managing director of Asia/Pacific will move to Europe to handle Europe, Middle East and Africa for the hotel chain. Patrick Imbardelli, now chief marketing officer and vice president of staff services, will take over from Hartman in Asia.
More changes are expected. Watch this space for further news.
Source: Yeoh Siew Hoon TravelweeklyEast
Hotel Transaction Activity - an overview of historical and currents trends
By:Anne R. Lloyd-Jones HVS International
In the midst of a recession and in the wake of the terrorist attacks, the hotel industry has faced myriad difficulties in the past 18 months. The problems of declining business travel, increased price discounting and rising insurance rates - to name a few - have been well documented in both the industry and the mainstream press. How have these and the numerous other challenges facing our industry affected hotel investment activity?
For details,Click Here
Revenue up 28 percent at luxury hotelier Fairmont
Fairmont Hotels , which runs luxury hotels worldwide, reported a 28 percent rise in fourth-quarter revenues on Thursday but net profit was down from the year-before quarter, when the company posted a special gain. Fairmont, whose more than 80 hotels and resorts include the Banff Springs Hotel in Canada's Rocky Mountains and the Plaza in New York, posted net income of $11 million, or 14 cents a share, down from $49 million, or 63 cents a share.
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Buzz in Bangkok
Written By : Phil Golding HVS International
Many hotel markets in the region are proving somewhat problematic for hotel investors, lenders, and management companies in securing opportunities. However, recent research conducted by HVS in Bangkok indicates that there is currently a buzz of activity in the hotel sector in the city. On the surface there is just one new five-star hotel opening, the 392- room Conrad Hotel, however this does not reflect the true picture of the likely changes in the branding and room inventory in the five-star hotel market in Bangkok over the next 18 months.
For detailed report and charts,Click Here
Cambodia's tourism minister "extremely disappointed" over events
The TravelWeekly editorial team reports from Phnom Penh where they were catching flights to Singapore and Hong Kong this morning in the aftermath of last night's attacks against Thai interests in Cambodia's capital.
Cambodia's tourism minister Veng Sereyvuth has expressed "extreme disappointment" with last night's incident in Phnom Penh which saw attacks on Thai interests including the Thai embassy, Bangkok Airways' offices and two Thai-owned hotels - Juliana Hotel and Royal Phnom Penh Hotel.
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NHL and NHLPA Sign Multi-Year Partnership Agreement with Starwood Hotels & Resorts
The National Hockey League (NHL), National Hockey League Players' Association (NHLPA) and Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) today announced a multi-year agreement that makes Starwood properties in the United States and Canada the official hotels and resorts of the NHL and NHLPA. Starwood's sponsorship activities will kick off this weekend at the NHL All Star Weekend and 53rd NHL All Star Game.
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Dubai Hotel Show grows in line with Middle East hospitality industry expansion
The continuing growth of the Middle East hospitality industry will be reflected when The Hotel Show, the region's leading exhibition for hotel suppliers, draws another record number of exhibitors and visitors to Dubai in its fourth year
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Great Hotels of the World announces American presence
USA expansion will double company size - Great Hotels of the World, the global luxury hotel marketing alliance, will launch in the USA this year to target American consumers, effectively doubling the potential outreach for member hotels.
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TravelCLICK Names Loews Hotels "E-Marketer of the Year"
Award Presented at HSMAI Travel Industry Awards Gala - Additional Three Regional Winners Honored ; - With electronic distribution of hotel room nights approaching $18 billion in annual worldwide revenues, TravelCLICK and the Hospitality Sales and Marketing Association International (HSMAI) honored excellence in electronic marketing at the HSMAI Travel Awards Gala in New York.
For details,Click Here
HVS International Announces Resort Development Services Group;
Appoints Mark Earle as Managing Director - Stephen Rushmore, President of HVS International, a leading hospitality services firm, has announced the formation of the Resort Development Services Group within the HVS Timeshare Consulting Services division of HVS International and appointed Mark Earle as the Managing Director. The Resort Development Services group will provide acquisition and development services including growth plan execution, branding and marketing alliances, owner representation and supervisory services for operations during vacation ownership product sales, and assistance with securing partners and financing for vacation ownership projects.
For details,Click Here
China's Tourism revenue surges to $ 523b; arrivals up 9pc
China's tourism industry continued its robust growth last year, with revenue surging 11.4 per cent to 556.6 billion yuan (HK$ 523.2 billion). The main factors behind the increase were long domestic holidays and an increase in foreign travellers. The number of arrivals grew 9.9 per cent to 97.91 million. Overall foreign tourists, excluding visitors from Hong Kong, Macau and Taiwan, rose 19.7 per cent year on year to 13.43 million.
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Australia: Ramada Aims For Middle Market As It Surveys Hotel Scene
Ramada is back in Australia, with big plans to open more than a dozen hotels across the country over the next few years. The managing director of Ramada International Hotels, Reas Kondraschow, yesterday made a flying visit to officially open the Melbourne Ramada on Flinders Street.
For details,Click Here
February 4, 2003
Refinance your hotel now: borrower utopia - finding the sweet spot
By: Mark Earle & Emil Iskandar HVS International.
Imagine a world in which interest rates are the lowest in decades, lenders' treasuries are bulging with cash looking for a home, and your hotel's net operating income is looking pretty good, pulling away from the worst months of last year and making your mortgage lender crack a smile when she looks at the positive outlook on your debt coverage cushion (which my not have existed a few months ago). Now imagine that these hotel lenders have almost no new hotels to finance since fewer are being built these days than at any time in the last 10 years. What do they talk about at their weekly project meeting?
For detailed report,Click Here
Thistle denies bank-driven business review
e-Tid.com - Thistle Hotels has issued a statement to the Stock Exchange denying reports in yesterday's Sunday Telegraph which said that Thistle's banks had asked Ernst & Young to review the business. Thistle's statement was a three-pronged denial: "Thistle confirms that neither the Royal Bank of Scotland [Thistle's main bank] nor Ernst & Young has had any discussions with Thistle in this connection.
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33 die in China hotel fire
A fire on Sunday killed at least 33 people in a hotel in Harbin, capital of China's Heilongjiang province, state media and officials said. More than 100 people were evacuated from the Tiantan hotel to safety, the official Xinhua news agency said, citing local sources. Ten people injured in the blaze were rushed to hospital but were out of danger, it said.
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Hotelier's note to self: For best ratings, empower employees
The highest marks go to luxury chains that train staffers to take charge, anticipate client needs. Cressida Roth was smitten last Valentine's Day. By a hotel. Like many modern love stories, this one began in bed.
For the rest of this report,Click Here
Germany - Difficult times reverse 20-year travel binge
Travel industry experts anticipate no revival of foreign spending by Germans this year, even without an armed conflict in the Near East. "Even in an optimistic scenario, we are looking for stagnating outlays under these circumstances and because of the low starting level," predicted economist Renate Finke in Dresdner Bank's yearly analysis of the German travel account. Unveiled for Stuttgart's winter CMT travel industry fair, her study said that the murky geopolitical situation evoked by the words Iraq and oil would influence the global economy and conditions for travel in 2003.
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Welcome to the Hotel (ier) Hendrix
By Yeoh Siew Hoon TravelWeeklyEast
Who: Ian Michael Coughlan, general manager, Peninsula Hotel Bangkok Why: Bringing a new style to the five star hotel business - striking a balance between luxury and informality without being too "hip" about it. Enter his office and the first painting you see is of Jimi Hendrix, in full pyschedelic regalia (see picture). Not quite what you might expect to see in the office of a general manager of a five star hotel belonging to a "traditional" brand.
For the rest of this report, Click Here
Absence of $ 340m gain drags Raffles Holdings' profit down;
Excluding gain, FY02 net profit was $ 17.9m, up from a $ 9.9m loss in 2001
Capitaland's hotel subsidiary Raffles Holdings posted an expected 82 per cent fall in full-year group net profit to $ 45 million in the absence last year of the whopping $ 340 million exceptional gain it had booked in 2001 from the sale of a majority stake in the Raffles City complex. Excluding exceptional items, the group's performance for the year ended December 2002 was ahead of 2001. This point was made at great length to analysts and journalists yesterday by Raffles Holdings' head honchos, especially its two deputy CEOs Leong Wai Leng and Jennie Chua.
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Fires burn a $20m hole in Australia's tourism
The bushfires ravaging Victoria's high country have so far cost the tourist-dependent region about $20 million in lost revenue, the local council has estimated. But, with the fires still burning and damage to livestock and farmland not yet tallied, the true cost of the devastation is yet to be determined. "This is without a doubt one of the most significant events that has ever affected us, and the current situation is critical," said Tracey Squire, manager of economic development for the Alpine Shire.
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PATA conference to focus on Global tourism recovery
The 52nd conference of the Pacific Area Travel Association (PATA), scheduled for April 13-17 on the resort island of Bali, is likely to focus on restoring the global tourism industry in the wake of the September 11 tragedy and the Bali bombings. Chairman of the event's organizing committee, Setyanto P Santosa, yesterday said as an organization which had representatives in more than 70 countries, PATA played an increasingly important role, particularly after global tourism suffered a blow due to the terrorist attacks.
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Meetings & Conventions News
On Jan. 23, Carroll Armstrong, president and CEO of the Baltimore Area Convention & Visitors Association, announced his resignation. According to the BACVA, Armstrong left his post Feb. 1 to become a special consultant to the chairman of the board of BACVA. Starwood Hotels & Resorts is up against a Feb. 1 deadline for its stalled headquarters hotel project in Boston. Starwood and its local developers must sign a ground lease and arrive at a finance package on phase one of the project by the deadline or risk forfeiting development rights and losing a nonrefundable $15 million deposit. "They are near to securing commitments," said Jim Rooney, director of development for the Massachusetts Convention Center Authority. The MCCA, which operates the Hynes Convention Center and the Boston Convention and Exhibition Center (now under construction), owns the land where Starwood would build
For further details of this report, Click Here
Cautious Optimism for Caribbean Tourism in 2003
The Caribbean Tourism Organization is cautiously optimistic about the outlook for the industry's performance in 2003. Secretary-General, Jean Holder, says the region expects modest increases in the winter season, based on reports reaching the CTO so far. While prospects for the Caribbean in the US market continue to be good, there is still some concern over the recovery of the long haul market. Since September 11, Europeans are staying closer to home so travel within Europe is up. This has affected Caribbean business out of Europe significantly.
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Cambodia gets French hotel school
The French hotel school Paul Dubrule Hotel and Tourism School (Ecole dHotellerie et de Tourisme Paul Dubrule) has officially opened in Siem Reap, offering young Cambodians opportunities in the countrys growing travel and tourism industries. The school offers nine month programmes in five specific areas of instruction: cooking and cuisine, restaurant and bar services, front office and reception, housekeeping and laundry, and travel agency services.
For details, Click Here
Hilton asks if discount Web sites friend or foe
Hilton Hotels Corp. may quit giving loyalty program reward credit for rooms booked through Expedia and other Web sites, aiming to steer its best customers to its own Internet channel, an executive said. The entire lodging industry is rushing to improve Web sites, following the success of fast-growing online sites such as Expedia, Orbitz and Travelocity. Internet booking is cheaper for hotels than phone reservations and easier to customize.
For details,Click Here
February 5, 2003
Hotel values in Europe - current trends
By: Russell Kett HVS International
The values of European hotels have, on average, declined in the past two years due to two principal factors - the economic downturns in major demand generating countries such as the USA, Japan and Germany, and the aftermath of the horrific events of 11 September 2001. It is sometimes not fully appreciated that hotel values in 2001 were already on the decline prior to the impact of 9/11.
For detailed HVS Intl Report,Click Here
News @ PATA
PATA SALUTES RETURN TO PEACEFUL RELATIONS -
PATA praises the recent initiatives which heralded a return to peaceful relations in Nepal and between Thailand and Cambodia. At 1000 on January 29 the Nepalese government and the Maoists declared a bilateral cease-fire to their seven-year conflict. Following the intervention of senior-most figures in both Thailand and Cambodia, bilateral relations between the two countries have begun to heal with leaders in Cambodia expressing deep regret that "extremists" spread lies resulting in acts of destruction against the Thai embassy and Thai businesses in Phnom Penh.
For the rest of this weeks PATA news and update,Click Here
Goal Setting Starts with Yourself
By Christina Morfeld
As a business owner, manager, or HR professional, you undoubtedly set goals for or with your staff members. Perhaps you do so only because your organization requires it. More likely than not, however, you recognize the inherent value of identifying these desired outcomes.
Why, then, aren't we more inclined to develop goals for ourselves?
For full report,Click Here
US Hotels reduce amenities, services amid major slump
Taking a lesson from financially strapped airlines, U.S. hotels are cutting amenities and services in response to some of their worst occupancy rates in 75 years. Stiff competition for customers and growing online-reservation discounts have led to leaner front-desk staffing and reduced restaurant and room-service hours. Guests can expect longer lines when checking in and out, fewer choices on restaurant menus and shorter hours for business center and exercise facilities, experts said.
For details,Click Here
Singapore Visitor Arrivals in December 2002
Singapore visitor arrivals in December 2002 achieved a growth rate of 5.8%, to a total of 709,143 visitors.
For detailed report and market analysis,Click Here
Samoa Tourism Update
Legislation changing the name of the Samoa Visitors Bureau Act to Samoa Tourism Authority Act and the office name was passed by Government last month. The change has come about as part of the recommendations in the Samoa Tourism Development Plan 2002 - 2006 released last September. All contact details for the STA's offices in Samoa, New Zealand and Australia remain the same.
For details,Click Here
Travel Sites Reach Highest Proportion of French Surfers, More Than Any Other Market, According to the Nielsen//NetRatings Global Index
Travel Websites reached 33 percent of the active Internet audience in France in December, a deeper penetration than in 12 other markets during the busy holiday travel season, according to Nielsen//NetRatings, the global standard for digital media measurement and analysis.
For detailed report,Click Here
London hotel prices cut to less than GBP 100 to pull in tourists
The cost of a night in a London hotel fell below GBP 100 last year for the first time since 1997 as operators slashed prices to tempt tourists into beds normally occupied by high-spending US executives. The average room rate dropped by GBP 7 to GBP 97, according to latest data from consultants Deloitte & Touche. That follows a GBP 12 fall from GBP 116 in 2001.
For detailed report,Click Here
Russia suspends 'space tourism'
The Russian space agency says it will suspend its programme of sending crews and paying tourists on short visits to the international space station, in the wake of the shuttle disaster
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Summit Hotels & Resorts launches 'Signature Services'
Summit Hotels & Resorts, the international luxury hotel group, announced the launch of 'Signatures Services', a collection of services that highlight the individuality of each of the group's hotels. Each hotel's 'Signature Service' will be presented in the Summit Hotels & Resorts 2003 directory, and will be marked with a 'bell logo' that has been specially designed for this new programme.
For details,Click Here
February 6, 2003
Telecommunication evolution and its impact on the hotel industry
By Tanya Pierson and Elizabeth Lauer Ivey HVS International
As hospitality industry professionals, we know better than to make a long distance call from a hotel room, but does the average Jane and Joe Traveler? The answer is yes, and they've learned to use a cell phone or PDA, rather than even a calling card. Recent history has illustrated the effects of an educated traveler on the hotel industry. As if the ubiquitous ads for cell phone plans weren't bad enough, long distance plans advertising 3 cents, 5 cents and 10 cents a minute alert the cognizant public of how much they have been taken advantage of when they use a hotel room telephone for a long distance call.
So how badly has the hotel industry been impacted by improvements in mobile communications?
For detailed report, Click Here
FelCor posts wider loss, will sell small hotels
FelCor Lodging Trust Inc the No. 2 U.S. hotel owner, announced on Tuesday a wider quarterly loss due to weak travel and investment losses from smaller hotels, which the company has decided to sell. Irving, Texas-based FelCor, which warned in January it would miss Wall Street expectations for the fourth quarter, said it would defer further common dividends until room revenue begins growing 2 percent to 4 percent per year.
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Former hotel manager awarded more than $11 million after suing Leona Helmsley
A jury awarded more than $11 million to a former hotel manager Tuesday after concluding he was fired by real estate maven Leona Helmsley because he is gay. The jury found that Charles Bell had endured a "hostile and abusive work environment" while running Helmsley's Park Lane Hotel. He was awarded $10 million in punitive damages and $1.2 million in compensatory damages.
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Accor 2002 sales dip on slowdown, currencies
French hotel group Accor reported a 2.1 percent decline in full-year sales on Tuesday as a sluggish economy and currency effects took their toll on its giant hotellery division.
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Thailand to host PATA Annual Conference 2006
Thailand has won the bid to again host one of the region's most important travel events, the Pacific Asia Travel Association (PATA) Annual Conference, in 2006. The decision was announced after the PATA Board of Directors meeting in Bahrain between January 17-19, 2003.
For details,Click Here
Indonesia: Tourism showing signs of recovery
Tourist arrivals to Bali almost doubled in December from the previous month to 68,000, signaling a recovery in an industry that has been devastated by the Oct 12 nightclub bombings, Indonesia's statistics bureau said. Still, Indonesia's tourist industry, which contributes about 5% to annual gross domestic product, suffered badly in 2002 due to the blast, the statistics bureau said in figures received today.
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Australian economy the big loser if tourism green paper
The Australian Tourism Export Council (ATEC) called on the Federal Cabinet to fully support the 'Tourism Green Paper' and commit to investing in an industry that can deliver long-term benefits for the Australian economy. "The Cabinet must support the work carried out by Minister's Ian Macfarlane and Joe Hockey who have driven the intensive Tourism Green Paper process.
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Investigators look for cause of hotel fire in northeastern China
Investigators combed through charred restaurant supplies, wiring and space heaters as officials said Tuesday they were still uncertain what caused a hotel fire that killed 33 people in an icy northeastern city during the Chinese New Year weekend. The investigation into the fire Sunday night at the Tiantan Hotel in Harbin was continuing, said a government official at Harbin's city hall who gave only his surname, Wang.
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HSMAI launches 2003 eConference series of interactive educational seminars
The Hospitality Sales & Marketing Association International (HSMAI), in partnership with HSA International, announces the debut of an extensive series of educational and interactive eConferences designed to help sales and marketing staff on all levels of expertise to hone their skills in a convenient and easy web-based format. eConference programs feature a broad range of industry experts on topics covering four tracks: Sales Strategies and Tactics, Sales and Marketing Management, E-Commerce, and Revenue Management. Participants will be able to view the visual portions of the presentation by logging-on to the Internet and will hear the audio portions by dialing into an audio conference call.
For details,Click Here
Introducing the world's first awards in hotel housekeeping
Miss Brigitte Verba, Housekeeping-Book-Author and Executive Housekeeper to leading Cruiselines for many years, announces the World's First Awards in Hotel housekeeping for Hotels on Land - and for the Cruise Industry. Having been dedicated to Housekeeping for more than 14 years, Miss Verba took a sincere interest in studying the marketing tools the Hotel and Cruise industry applies in the marketing of Housekeeping Services.
For details,Click Here
Raffles International Hotels named World's best by prestigious travel magazine
Raffles International Limited welcomes the New Year on a high note with eight Raffles International hotels honoured as best hotels in the world by top prestigious travel magazines, Cond? Nast Traveler and Travel + Leisure in their respective January 2003 issues. The Group continues its winning streak after its hotels reaped in a bumper crop of 35 awards and accolades in the year 2002.
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Albania: Work on completion of tourism map onwards
Completion of the map on tourism zones, which will include new zones, is one of the key objectives of the program adopted by the Albania's tourism directorate for 2003.
Specialists of this directorate report the map will be accompanied by indexes on zones of family tourism development, modern tourism complexes, fish farming and hunting zones, and other elements. Tourism development masterplans will be attached to the map, co-ordinated with the urban plans on territory management, continuous observation of investing projects and creation of touring complexes
Japan as tourist magnet
More openness and hospitality would help a lot. Does Japan offer a magnetic attraction to foreign tourists? The answer, regrettably, seems to be no. Although about 16 million Japanese go abroad every year, only 5 million foreigners visit Japan. Japan gets far fewer foreign visitors than such tourist attractions as France, the United States and China. Japan is also behind neighboring South Korea in the tourism race. The government hopes to change that, making Japan a more popular tourist destination by trying to balance the flow between tourists coming in and tourists going out. Prime Minister Junichiro Koizumi intends to create a private-sector advisory panel to help with the promotion effort.
For details,Click Here
February 7, 2003
Website Optimization
The blueprints for a robust direct-to-consumer online distribution strategy
By Jason Price and Max Starkov
Direct-to-consumer online distribution should become the foundation, the main focus of any hotelier's online distribution strategy. In the offline world, hoteliers are the best direct salesmen with an estimated 75% of all reservations sold directly to consumers. Online, the industry direct sales average 52% (PhoCusWright, 2002) with many hoteliers reporting less than 5%. As a result, many hoteliers cede control of their inventory and pricing to online intermediaries, at an enormous cost financially and to brand integrity. Website optimization is the first step toward building a robust direct online distribution strategy.
For detailed report,Click Here
The World's Most Romantic Hotels
By Christina Valhouli Forbes.com
February 7 is not an especially remarkable date--except for the fact that you only have one week until Valentine's Day. If that thought causes your heart to beat a little faster--but not in a romantic way--it means that you probably haven't made any plans yet. Fortunately, it's not too late: Rather than taking the easy way out and just sending several dozen overpriced roses, you can still book a room at one of the world's most romantic hotels and turn Feb. 14 into a day that neither of you will ever forget.
For a picturesque report,Click Here
Cendant swings to 4th qtr profit, revenues rise
Cendant Corp. reported a fourth-quarter profit on Wednesday compared with a loss the year before, boosted by robust business at its Avis car rental unit.
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6% rise in UK visits beats BTA forecast
e-Tid.com - A strong December helped boost the overall number of visits to the UK by overseas residents by 6% year-on-year to 24.16m in 2002. During the year, visitors from North America increased by 2% to 4.32m and from Western Europe by 9% to 15.33m. Total spend by all inbound tourists was up 4% to almost ?12bn. The British Tourist Authority (BTA) had forecast overall visits up 3% and spending up 1% from 2001.
For details,Click Here
e-Rooms - A New Market Segment?
By: Elaine Sahlins HVS International
During the past year, HVS International has performed hundreds of market studies and analyses. One of the major trends of the post-September 11th travel world that has become critically important for our analyses is the surge in the use of the Internet as a sales and marketing tool. Reservations for hotels are now almost universally booked through an Internet source, whether the source is a GDS used by travel agents, a website sponsored by a particular lodging company, or a third-party travel agency site such as Expedia or Priceline.
For detailed report,Click Here
Corporate Social Responsibility: Are you putting it to work?
There are fundamental environmental and social concerns in our society that will inevitably lead to changes in the way businesses operate - but what will the changes be, at what pace, on what issues and in which geographies? How best can a company manage these changes and leverage value from good practices? Tourism Concern, a membership organisation concerned with promoting an understanding of the impact of tourism, highlights a couple of issues;
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Malmaison's founder to launch ?100m hotel chains
McCulloch and Coulthard aim to take on business and budget markets - Ken McCulloch, the multi-millionaire who founded Malmaison hotels with Mick Hucknall, the pop singer, is to launch two new chains across Europe in a venture with David Coulthard, the formula one racing driver. Mr McCulloch, a hotelier and a tax exile in Monaco, said both chains will be business-class but will offer budget-prices and compete with the Malmaison group he sold in 1998.
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Putrajaya opens first hotel
Malaysia's new Federal Government administrative capital, Putrajaya, proudly showed off its first hotel, Shangri-La's Putrajaya, with its official opening by Prime Minister Datuk Seri Dr Mahathir Mohamad on Tuesday night. The five-star 118-room Shangri-La Putrajaya was designed as "a hotel within a park and a park within a hotel". It also boasts of a 24-hour business centre, the latest technology in all its meeting rooms, and a spa.
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Cambodian business returns to normal
As political relations between Thailand and Cambodia moved a step closer to normality yesterday, inbound tour operators contacted by TravelWeekly said disruptions in Cambodia remained minor. Trade members said most disruptions were related to flight cancellations and the re-booking of clients into alternative hotel accommodation.
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WSJ publishes bleak snapshot for Europe inbound
An article in yesterday's Wall Street Journal Europe points out that US outbound travel to Europe is still subdued despite trips from the US to Europe costing as little as €200. The paper comments that 'rock-bottom prices do little to entice people to fly internationally with many Americans opting for domestic travel instead'.
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Park Plaza enters resort arena
Park Plaza Asia Pacific (PPAP) has signed a management and marketing agreement for the Park Plaza Resort, Nakha Island, just off the East Coast of Phuket in Phang Nga Bay. The Resort is due to open in the early part of 2004. Park Plaza Resort, Nakha Island, is a first for the group in terms of resort accommodation.
For details,Click Here
February 10, 2003
Starwood seeks $500M for hotels
Starwood Hotels & Resorts Worldwide Inc. is quietly shopping a portfolio of Sheraton hotels for $500 million as part of its continued efforts to pare down debt, according to sources close to the situation. White Plains, N.Y.-based Starwood neither confirmed nor denied the portfolio is up for sale, but it has said in statements as recently as Jan. 29 that it expects to realize $500 million from the sale of "domestic and/or international asset sales" by the end of 2003. The sources said Starwood has hired Bear, Stearns & Co. to facilitate the sale, but the investment bank wouldn't comment.
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GDS Room Nights Grow 30% for Asia-Pacific in Q4
TravelCLICK reported today that Asia-Pacific region room nights booked electronically through the Global Distribution Systems (GDS) was up 30% in the fourth quarter of 2002 compared to the prior year period. In comparison, GDS worldwide room nights increased 8% for fourth quarter of 2002 versus fourth quarter 2001. The average daily rate (ADR) for the Asia-Pacific region was $123.91, an improvement of 3.3% over the same quarter last year.
For detailed report,Click Here
Accor Sales Hold Steady in 2002, Increasing 0.9% Like-for-Like
Consolidated sales ended 2002 down by 2.1% on a reported basis. Like-for-like, however, sales rose by 0.9% over the year, including a 3.8% increase in the fourth quarter.
Hotels
Hotel sales were stable, declining by 0.3% for the year, with business firmer in the fourth quarter. The contribution from newly opened hotels added 3.5% to sales growth. On a comparable basis, sales rose by 0.6% for Business and Leisure Hotels and by 3.4% for Economy Hotels Europe. Sales for Economy Hotels US were down 4.2% like-for-like.
For detailed report,Click Here
Cendant Reports Record Results for Fourth Quarter and Full Year 2002
Cendant Corporation (NYSE:CD) today reported record fourth quarter 2002 Adjusted EPS from continuing operations of $0.29, an increase of 38% year over year, in line with the Company's projection. Cendant's Chairman, President and CEO, Henry R. Silverman, stated: "The diversity and scale of our business model, which we use to manage risk, proved successful again in the fourth quarter. Despite the continued challenging environment for travel and corporate spending, the majority of our businesses performed at or ahead of plan, enabling us to achieve record results.
For detailed report,Click Here
Current value of AAA ratings
Is a hotel's AAA rating as valuable today as it was in the past? Has that value been eroded by technology? Your AAA rating may actually be more important than ever. In the post-9-11 era most properties have faced tougher competition not just to succeed, but to survive. Hotels have dealt with this challenge in a variety of ways.
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Pacific World Hong Kong Acquires Leading Events Solutions Provider, EventClicks
EventClicks announced that it has been purchased by leading Asian destination management company Pacific World Ltd. Hong Kong. EventClicks will continue to manage its Hong Kong and Singapore operations independently under the direction of Pacific World Chairman Mr. Jacques Arnoux. Pacific World Ltd. Hong Kong Managing Director Ms Peggy Lau said, "We are delighted with this new acquisition and we look forward to supporting EventClicks in the region."
For details,Click Here
Leave your legacy
By: Elizabeth Lauer Ivey HVS International
Thousands of U.S. hotel properties and the majority of hospitality enterprises rely on decades-old applications written in obsolete programming languages. Along with the inflexible databases and the cumbersome hardware systems on which they reside, many of these applications may no longer be supported by their creators. As distribution partners and the travel sector collectively embrace the Internet, the hospitality industry is grappling with a potent mix of legacy and web-aware systems.
For detailed report,Click Here
Study: Online Hotel Booking Problematic
The hotel industry as a whole has a ways to go when it comes to making the room-booking process user friendly, says a new study by a U.K.-based travel and hospitality consulting company. In fact, things are so bad design-wise that many customers are confused by the prices displayed, and about half the time they cannot determine whether a displayed price is per room or per person, according to a report from Southampton, England-based Travel UCD , which calls itself a "usability consultancy specializing in front-end design of travel and hospitality Web sites." The company said its 50-page report, entitled "Hotel Booking Process Design and Usability," studied the user interfaces of 87 travel agency, hotel booking agency and hotel chain Web sites.
For details,Click Here
Nation's Top Industry Leaders and Economy Experts Optimistic on This Year's Outlook at Economic Summit 2003
According to conclusions reached by 18 of the nation's foremost business and economic experts today at the Economic Summit 2003, which was hosted by Beverly Hills Chamber of Commerce and Civic Association and attended by 300 of the region's top business leaders, Southern California can look forward to continued growth in the real estate market, while anticipating improvements in the technology and local tourism industries and trade with China -- all positively impacting the state of the region's economy in the coming year.
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Infrastructure needed for World Heritage tourism: Govt
The Federal Government of Australia says tourism operators at Australia's 14 World Heritage areas should be allowed to build regulated infrastructure. The Government has used debate over the preservation of the sites to advocate development.
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Visit Philippines 2003 kicks off
Visit Philippines (VP) 2003 kicked off last week with the opening of Intramuros: History Town Philippines. Tourism secretary Richard Gordon said that Manila's historic district will be the showcase of VP 2003.
For details,Click Here
Great Eagle's suites rated in 10 most high-tech rooms
The Great Eagle Hotel's "Langham Suites" have been ranked among the world's 'Top 10 High-tech Hotel Rooms' by British newspaper, The Sunday Times. The six suites, a new feature at the Great Eagle in Tsim Sha Tsui, Hong Kong have broadband Internet access, 37" plasma TV and DVD surround-sound home theatre.
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UK visitors fell in December, says BITOA
Caterer.com - The number of overseas visitors to the UK in December fell by 2.18% compared with the same month in 2001, says the British Incoming Tour Operators Association (BITOA). For the year of 2002 as a whole, numbers were down by 1.77% compared with 2001, according to the association's monthly Business Barometer.
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W Hotels Survey Says Angelina Jolie and George Clooney Are Most Desired Single Celebs
Vin Diesel and Sandra Bullock Are Runners-Up in W Hotels/Match.Com Online Valentine's Poll - With what unattached celeb would you want to share some "pillow talk"? According to a W Hotels/Match.Com online survey the men clearly love Angelina Jolie while the gals are head-over-heels for George Clooney. A whopping 29% of the male respondents chose Angelina Jolie as a bedmate, followed by 18% for Sandra Bullock and 13% for Alyssa Milano. An even-more impressive 39% of the female vote went to George Clooney, with Vin Diesel a not-so-close second at 15%.
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