Global Hospitality News - ARCHIVE 2003

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March 1- 15, 2003

March 3, 2003

Six Continents will exile Prosser to keep Osmond out

How much should shareholders pay for the financial acumen of whizz-kid entrepreneurs? The answer to that question will probably determine the fate of Six Continents, the hotels and pubs group that faces a hostile bid from Hugh Osmond tomorrow. Osmond has a pretty impressive record of creating wealth, and vast dollops of it have accrued to himself. But if he and his team succeed in their latest adventure, they could reap between ?200m and ?300m.

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Osmond: 'We do not pretend to be hotel managers'

Hugh Osmond plans a daring ?5.4bn bid for leisure giant Six Continents. In an exclusive interview with Damian Reece, he says he can unlock wealth that the company's existing management cannot find Hugh Osmond revels in his enfant terrible reputation, acquired three years ago when he humiliated Allied Domecq and Whitbread - the blue chips of the brewing industry - by smashing up their friendly pubs deal with his hostile ?2.75bn cash bid.

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Osmond stands to make ?200m from Six Continents takeover

Hugh Osmond will take 20 per cent of any gains he generates from Six Continents' assets if his takeover bid for the hotels and pubs conglomerate is successful. This could see him and his team earn more than ?200m over the coming two years and is bound to be attacked by 6C's management. Osmond is planning to launch an all-share offer worth ?5.4bn for Six Continents when the stock market opens today. He has also raised credit of between ?1.2bn and ?1.4bn so that Six Continents' shareholders can elect to take cash instead of paper for about a quarter of their shares.

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Rebellion over share options at Six Continents

Britain's largest shareholder group is urging members to reject Six Continents' executive share option schemes, potentially threatening the company's plans to demerge its hotels and pubs business. The National Association of Pension Funds (NAPF) believes the schemes' performance targets are too low, payouts too high and that they lack transparency.

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International Occupancy and Rate Report December 2002 Summary Report

Year-end 2002 results from the Asia Pacific edition of the HotelBenchmark Survey by Deloitte & Touche revealed that of the 22 cities tracked, just over half reported positive growth in revPAR for 2002. Star performers for the year included Auckland, Jakarta, Ho Chi Minh City and Shanghai - all reporting double-digit revPAR growth. Conversely Bali and Osaka did not fair so well - reporting revPAR declines of 12.5 percent and 13.7 percent respectively. In both cases this was predominantly influenced by declines of occupancy of around 10 percent in each.

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Our favorite Hotel?

By Harry Nobles & Cheryl Griggs We hear this question frequently. We hear it from clients, from colleagues, and from guests. We are always pleased to be asked for several reasons. First, it gives us the opportunity to reminisce and remember enjoyable experiences; it also causes us to reflect on the things that make a hotel memorable. It is also a chance to share our thoughts with others, something we very much enjoy.

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UK: Hotel shares hurt after string of profit warnings

Shares in the hotel sector came under renewed pressure yesterday after the latest in a string of profit warnings from Jarvis Hotels and the first loss since 1995 at Queens Moat Houses (QMH). Shares of Jarvis Hotels fell 5?p to 94p after the company admitted that, despite a resilient sales performance, a further deterioration in UK commercial business meant its trading profits "could fall marginally below last year's figure".

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Meridien to sell off hotels to raise Eu300m

Meridien Hotels, the chain owned by Nomura International, is planning to generate €300m (?205m) through the sale of European property assets to bolster its finances. The Telegraph revealed in January that the company was renegotiating a ?1.25bn sale and leaseback with the Royal Bank of Scotland secured against its UK hotels. Senior managers have been axed and a new team appointed to "sort out" the chain. Meridien is now seeking to sell a string of European hotels to raise much-needed cash to support the business and invest in the properties.

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Hongkong and Shanghai Hotels profits rise more than 9 times in 2002

Hong Kong's oldest hotel group Hongkong and Shanghai Hotels said Thursday its 2002 net profit rose more than nine times from the year before to 308 million dollars (39.5 million US), thanks to strong performances by its hotels in Asia. The company, which runs the luxury Peninsula chain, said net profit for 2002 rose to 308 million dollars from 33 million dollars a year ago, reversing an impairment loss of 238 million dollars in Palace Hotel.

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HK's Visitor Arrivals Breaking Record in January

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Hilton Sells Four Homewood Suites Properties

Hilton Hotels Corporation announced today that it has sold four Homewood Suites by Hilton hotel properties in two separate transactions for a total consideration of approximately $40 million. The proceeds will be used by Hilton to reduce debt.

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Starwood celebrates fifth anniversary of ITT and Westin Hotels acquisitions

Five years ago, a small hotel company called Starwood Lodging became a global giant when it acquired behemoth ITT Corporation just a few months after acquiring Westin Hotels & Resorts. Overnight, Starwood Lodging catapulted from a minor player with a hodge podge of hotels to a Fortune 500 company with more than 700 hotels worldwide including famous brands Sheraton, Westin, The Luxury Collection and Four Points by Sheraton plus some of the world's most illustrious properties such as The St. Regis, The Gritti Palace, and the Hotel Cala di Volpe. And so, Starwood Hotels & Resorts Worldwide, Inc.was born.

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Mandarin Oriental Hotel Group To Open Niche Hotel in Hong Kong

Mandarin Oriental Hotel Group has announced that it will manage a new, luxurious hotel planned for development in the heart of Hong Kong's fashion, entertainment and shopping district. The 118-room property will be housed in The Landmark, one of Hong Kong's most successful commercial complexes.

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Tishman Hotel Corp Names Industry Leader Bill Mccreary President

Tishman Hotel Corporation (THC) has appointed Bill McCreary as its new President, it was announced today by John A. Vickers, Chairman & CEO of THC. Possessing 32 years of experience in the hospitality and hotel management business, Mr. McCreary will oversee all of the organization?s business activities and operations, new business efforts, and management contracts, which comprise approximately 10,000 rooms across the U.S., in the Caribbean, and in eastern Europe.

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Shanghai Launches Three-Year Tourism Program

Shanghai has launched a three- year program to promote local tourism industry. The municipality is aiming to receive three million overseas visitors this year, bringing in 2.6 billion US dollars in foreign exchange. The city also aims to host 95 million domestic tourists, drawing 99.8 billion yuan (12.06 billion US dollars) in income.

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HAWAII (HVCB) 2002 Momentum Carried Over To Strong January

The Hawaii Visitors and Convention Bureau (HVCB) began its 100th year of tourism marketing by expressing confidence about 2003, as January visitor counts to Hawaii surged. The State Department of Business, Economic Development, and Tourism (DBEDT) today released its January 2003 visitor figures, showing an overall increase in total visitor days of 12 percent compared to January 2002. In addition, visitor arrivals rose by 11.6 percent, with domestic visitors increasing by 8.6 percent and international visitors growing impressively by 17.4 percent.

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March 4, 2003

Osmond launches bid for Six Continents

Entrepreneur Hugh Osmond has launched his long-awaited ?5.5 billion bid for pubs and hotels group Six Continents. The offer, which values Six Continents at 648p per share, was made through Mr Osmond's AIM-listed investment firm Capital Management & Investment (CMI). Under Mr Osmond's plan, Six Continents would be broken up with the hotels business to be sold to rival hoteliers or run in partnerships.

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Six Continents rejects ?5.5 billion Osmond bid

Six Continents has rejected a ?5.5 billion bid from entrepreneur Hugh Osmond. Mr Osmond tabled an offer through his Aim-listed bid vehicle, Capital Management & Investment (CMI), which valued the leisure group at 648p per share. Under his plans, Six Continents would be broken up with the hotels business to be sold to rival hoteliers or run in partnerships. Six Continents has always rebuffed the suggestion of Mr Osmond making an approach for its business as fundamentally flawed.

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Six Continents denies plans to oust chiefs

Six Continents yesterday denied it was planning to ditch key executives in a bid to persuade shareholders to turn down a ?5.5 billion takeover approach from entrepreneur Hugh Osmond that could be tabled as soon as today. The under-fire hotels-to-pubs giant said there were no plans for long-standing chairman Ian Prosser or Richard North, the finance director who will lead the demerged hotels arm, to leave the company ahead of time, despite shareholder claims that the group needs shaking up after years of poor performance.

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World Tourism in 2002 Better Than Expected - Reports

For many, the preliminary tourism statistics for 2002 will come as a surprise. For the first time in history, the number of international tourist arrivals has exceeded the 700 million mark, and despite all the grim expectations and debates about the crisis, the year ended with a 3.1 per cent increase. Tourism has once again proven its resilience.

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High-Speed Internet Access in Hospitality 2003

Written By: Chris Hartmann HVS International Nothing but Net? - Many hotels, even some properties with significant business travelers, do not yet have high-speed Internet access available in all guestrooms. Although usage continues to increase, paid access is still below 10% with free access only attracting 20% or so of guests. With business travel in decline, Internet access may seem less important, but there are several reasons why this is not the case.

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Ready Or Not - UK Businesses Must Make Disaster Recovery Plans Now - PKF UK Report

More than half of small businesses do not think they need an operational disaster recovery plan, according to a recent survey by accountants and business advisors PKF. But Gordon Brown's radical contingency plans to take control of the London Stock Exchange and other key institutions to avoid economic meltdown in event of a terrorist attack, announced yesterday, are a timely reminder that businesses must review their own contingency and recovery plans for potential disasters.

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Sol Melia Reports 2002 RevPar for All Hotels was Down 4% from 2001; Average Occupancy for 2002 at 66.5%

Sol Meli? announced results for the hotel company for the year 2002. Revenues grew to 1,010.3 million Euros, almost exactly the same as in 2001, while Earnings before interest, taxes, depreciation, amortization and rentals (EBITDAR) reached 300.6 million Euros, a 0.5% increase over 2001. Earnings before interest, taxes, depreciation and amortization (EBITDA) fell by 3% to 233.2 million Euros, in line with analyst expectations. For the second half of the year 2002, EBITDA and EBITDAR grew by 22% and 20% respectively, compared to decreases of 23% and 15% in the first half of the year, indicating a clear recovery of the business over the year.

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When will Bali Bounce Back?

Written By: Phil Golding HVS International Following the recent bombing in Bali on October 12 and the possible threat of further terrorist activity in Southeast Asia many governments have issued travel warnings, labelling many destinations in Southeast Asia as 'high risk'. Consequently, it is likely that the arrivals of international tourists to many destinations throughout Southeast Asia will be negatively impacted. The estimated decline in international visitors to destinations, such as Bali, is a somewhat subjective forecast at this time, and largely depends on the future events in the region over the next three to twelve months. However, the purpose of this article is to examine the impact of somewhat comparable events over the past few years on tourism arrivals to Bali, and to estimate the likely impact the Bali bombing could have on tourism and hotel performance in Bali.

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HK's Visitor Arrivals Breaking Record in January

Visitor arrivals to Hong Kong in January 2003 totaled 1.546 million, the highest January figure and a 31 percent growth over the first month of 2002. According to figures released here Thursday by the Hong Kong Tourism Board (HKTB), visitors from the Chinese mainland led the way with 750,929 arrivals, a year-on-year increase of 65.1 percent. The average hotel occupancy rate in January was 82 percent, a one percentage point increase on the 81 percent recorded during the same period last year. Business traffic from the short-haul markets was stimulated by major trade shows such as the Hong Kong Toys & Games Fair and Hong Kong Fashion Week.

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HVS International Announces Restaurant Management Division - Appoints Famed American Chef Larry Forgione as Managing Director

Stephen Rushmore, President of HVS International, a leading global hospitality services firm, has announced the formation of its HVS Restaurant Management division, and has appointed its co-founder, renowned American Chef Larry Forgione as the Managing Director. HVS Restaurant Management will provide food and beverage management services for the hospitality industry.

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7th Annual Canadian Hotel Investment Conference Set for March 31st & April 1st, 2003 in Toronto

KPMG Hospitality, Leisure and Tourism and Colliers International Hotels are pleased to present the Seventh Annual Canadian Hotel Investment Conference - Canada's only conference dedicated to hotel investment. The Conference is being held April 1st, 2003, at the Royal York Hotel in Toronto with the opening reception at the Club Lounge on the 43rd floor of the Sheraton Centre Hotel the evening of March 31st. The theme of this year's Conference is "Mission Possible: Driving the Bottom Line" and addresses obstacles such as the decreased occupancy percentage and declining ADR and other challenges currently facing the Canadian hotel industry.

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Hotel Occupancy Rates Rebound in Argentina

Luxury hotels in Argentina have seen their occupancy rates climb between 25 percent and 35 percent in the first two months of 2003 compared with the depressed figures for the same period last year, the local press reported.

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Jarvis warns on full-year profits

Caterer.com - Hotel group Jarvis has warned that its full-year profits could dip slightly below last year's if commercial business continues to weaken. In a trading statement today the company said that although turnover in the 20 weeks to 28 February 2003 was marginally ahead of last year, UK commercial business throughout the period had been weak and could hit profits in the full-year.

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March 5, 2003

Hyatt plans expansion despite industry downturn

The closely held Hyatt hotel companies plan to consolidate their hospitality businesses as a step toward raising capital and expanding their mini-empire, the new president of the hotel businesses said Tuesday. Doug Geoga, a longtime company insider, was named president of Hyatt Corp. and AIC Holding Co., which together operate Hyatt's 207 domestic and international hotels. The appointment was part of a management shuffle that saw several executives moved into new positions. A primary goal of the reorganization is to create a "pure-play hospitality company," Geoga said in an interview, "to make sure we have access to a full range of financing techniques."

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Pritzkers to reorganize Hyatt, plan to expand- WSJ

Chicago's Pritzker family will announce a reorganization of its Hyatt hotel chain and is aiming for a major expansion through acquisitions, the Wall Street Journal reported on Tuesday. The reorganization was spurred, in large part, by an agreement finalised last year among 11 Pritzker cousins to divide their empire among them, the newspaper said.

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Thistle rejects BIL's 115p per share offer

BIL, formerly Brierley Investments, has made a cash offer of 115p a share, worth around ?300m, to take full control of Thistle Hotels. It already owns around 45.8% of the chain. Thistle has rejected the offer, saying the offer 'is opportunistic and fails to deliver value for all shareholders' BIL said that it would carry out a 'strategic, operational and financial review' of Thistle. Last summer it was reported that BIL was looking to dispose of its stake in the hotel chain

Helicopter crashes into a Jakarta hotel pool

A helicopter has crashed into the swimming pool of a five-star hotel in the Indonesian capital, Jakarta, killing three people on board. The helicopter clipped the roof of the Hotel Sahid Jaya before crashing at around midday (0500 GMT) Tuesday.

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Hotel Mortgage Loan Workouts and Defaults - PART 2

Written By: Michael T. Sullivan & Marshall A. Bendelac HVS Capital Corp This is the second in a series of articles where we are addressing the problems which some borrowers (and obviously their lenders) are having currently with hotel mortgage loans, along with some ideas as to strategies for possible resolution. For most hotels in most markets, 2001 was simply a bad year, capped off by the terrorist attacks of 9/11. However, other than the attacks, the downturn in the hotel industry was not totally unexpected. As has been chronicled by HVS literature in the past, the hotel industry, especially in the U.S., has tended to follow a 10-year boom/bust cycle, and has done so with some regularity since the end of WWII. Because of the previous downturn occurring in 1991/1992, a downturn in 2001 was due.

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News@PATA

YOUR CHANCE FOR EXECUTIVE TRAINING IN HAWAII -- March 15 is the deadline to apply for one of four PATA scholarships to the 25th Executive Development Institute for Tourism (EDIT) programme in Honolulu, June 9-27, 2003. The three-week programme features lectures, class discussions, case studies, group presentations and field visits conducted by experts, professionals and academics. It is designed for travel industry professionals with managerial responsibilities.

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Issenberg takes reins for Accor Asia, maps strategy

By Yeoh Siew Hoon TravelWeeklyEast.com Michael Issenberg has just had his territory and portfolio expanded by a quantum leap. Previously managing director of Australia, New Zealand, South Pacific and Japan for Accor Hotels & Resorts, he has now been put in charge for the full Asia/Pacific region. The move is part of Accor's move to synergise its Asia/Pacific operations. Financial controller Kim Mooney has also seen his job enlarged as a result of the move. The integration of the two regions follows Asia/Pacific deputy chairman Jochen Dobel's move to Germany to run Dorint Hotels, in which Accor has a 30 percent stake. Yeoh Siew Hoon asks Issenberg some key questions on the day his promotion was announced to the media.

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Most difficult year ahead for Irish hotel industry

Caterer.com - Irish hoteliers are being urged to focus on survival and growth this year as the level of hotel bookings plummets. Jim Murphy, president of the Irish Hotels Federation (IHF), speaking at its 65th annual conference in Galway today, said: "As the world holds its breath in anticipation of the developments in Iraq, the Irish tourist industry is facing one of its most difficult periods ever.

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Philippines' tallest building will be a hotel

The tallest building in the Philippines is under construction. This will be the Eaton of Makati, which will rise on Makati Avenue, a 64-storey property consisting of both a five-star hotel and full-serviced residences.

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Sharjah in negotiations for three new hotels

Negotiations on three new hotels in Sharjah are underway, with two in the private sector and one to be jointly owned with a government stake, Sheikh Tariq bin Faisal Al Qasimi, chairman, Sharjah Economic Development Department, stated yesterday. "The new projects form part of our tourism initiative, with the other two core areas being industry and the retail sector, where we see the highest future growth potential," he told delegates invited to MashreqForums.

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Business Travel Expo Hong Kong 2003 Set For Record-Breaking Attendance

AsiaTravelTips.com - Business Travel Expo Hong Kong 2003, Asia's first business to-business travel show, is on target for record-breaking attendance and its biggest-ever turnout of exhibitors at the Hong Kong Convention & Exhibition Centre on March 25-26. Following the tremendous success of last year's inaugural two-day event, which attracted more than 1,200 buyers, managers and arrangers of corporate travel, most main exhibitors are returning - and many new exhibitors have booked stands.

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War jitters hitting NZ tourism, say economists

The threat of war in Iraq, weak global growth and a rising New Zealand dollar are starting to affect the number of tourists visiting New Zealand, according to economists.Deutsche Bank said tourism had grown about 6 per cent in the past seven months -- down from the 7.5 per cent annual growth rate revealed by Statistics NZ yesterday and "significantly below" double-digit rates in 2000-2001.

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Australian Hotel Fund Puts Spice Into Peppers Financial Review

Stephen Burt, managing director, of Hotel Capital Partners a joint venture between Greg Paramor and Richard Colless has made good on his promise to return the former Peppers Hotel Trust to profit. The trust, renamed Australian Hotel Fund in November, showed a profit of $2.02million including asset sales for the six months to December 31, and posted a 1.6cents interim distribution. Proceeds from the sale of assets were $1.45million, or about $1.25million after selling expenses, translating into a profit from the ordinary operation of about $768,000.

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March 6, 2003

Hyatt Hotels & Resorts Announces Management Changes in Connection with 'Global Hyatt' Initiative

Hyatt Hotels Corporation, which operates 123 Hyatt Hotels & Resorts in the United States, Canada and the Caribbean, and Hyatt International Corporation, which operates 84 Hyatt Hotels & Resorts in 39 countries throughout the world, announced today a series of management steps in furtherance of its "Global Hyatt" initiative. This initiative, which began last fall, is intended to improve coordination of Hyatt's U.S. and international hotel management operations, real estate activities and corporate functions. Its objectives are to improve the quality and consistency of Hyatt products throughout the world and better position the companies for future growth.

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Six Continents in counter-attack

Six Continents posted shareholders a further attack on the hostile takeover plans of Hugh Osmond's Capital Management & Investments, again stressing that a demerger of the pubs and hotels business was the best course.On the day that 6C paid for a lavish advertising campaign in the financial pages of newspapers, Tim Clarke, chief executive, said: 'CMI's proposal is opportunistic, risky and transfers huge value to CMI's directors.'

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CDL hotels posts bumper $17m profit

The country's biggest hotel operator, CDL Hotels New Zealand Ltd, today posted a bumper $17 million after tax profit for the full year to December. The result - up 60 percent on the previous year - reflected strong performances by each of CDL's three divisions and a turnaround in its former loss-making New Zealand property investment subsidiary CDL Investments, managing director Tsang Jat Meng said.

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Accor 2002 profit drops in "challenging" environment

French hotel giant Accor reported a 9.3 percent drop in 2002 net profit on Wednesday, citing a slowdown in business in major cities worldwide. The group said that 2002 net profit fell to 430 million euros after 474 million last year as sales -- as reported last month -- fell 2.1 percent to 7.139 billion euros. Accor said in a statement it would continue with an expansion drive this year.

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Five dead, 67 injured in Johannesburg hotel fire

Two of the five people who died when their residential hotel caught fire around 1am on Wednesday, leapt to their deaths, Johannesburg emergency services spokesperson Malcolm Midgley said. Sixty-seven people were injured in the fire, most by smoke inhalation or falling glass shards.

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Hotel Franchise Fee Calculator

Written By: William D. Lee HVS International

Now owners, operators, and developers can access a free online tool designed to calculate the costs associated with any of 89 franchised hotel brands. Using the Hotel Franchise Fee Calculator, visitors can calculate all of the costs associated with a particular affiliation including initial fees, royalty fees, reservation fees, and marketing fees.

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ITC Hotels likely to perform well

ITC Hotels stands to benefit from the Budget sops for the hotel industry. With the abolition of expenditure tax for the industry, the stock is likely to perform well. Market analyst Darshan Mehta is positive on hotel stock ITC Hotels in the light of this year's Budget sops for the hotel industry.

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Plaza Athenee Bangkok to Focus on Personal Touch

With the new five-star Conrad Hotel offering attractive room rates and advertising aggressively, the neighbouring Hotel Plaza Athenee is responding with more personalised service to build up loyal customers. With increasing competition from new hotels and limitations on expanding its network, the Plaza Athenee has followed in the steps of The Oriental Bangkok in adopting personalised service in a bid to attract more repeat customers.

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Involve Your Employees in Community Service Efforts

Many organizations support local charities and events as a way of "giving back" to the communities in which they do business. But the benefits of such activities are not one-sided: The company may, in turn, earn tax advantages, increased name recognition, and a reputation for being socially responsible. While these programs can be successfully accomplished at the corporate- or executive-level, there are added bonuses associated with involving your employees.

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Accor to sell and lease back five Budapest hotels

Accor-Pannonia Rt, a member of the French Accor group, plans to sell five Budapest hotels and lease them back for a more than 20-year period. The five hotels - the Emke, Korona, Mercure, Metropol and one Ibis - are valued at around HUF 50bn.

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Curtis Nelson, 39, Named President and Chief Operating Officer Carlson Companies

Marilyn Carlson Nelson, Chair and CEO of Carlson Companies, today announced the promotion of Curtis Nelson, 39, to President and Chief Operating Officer of privately held global travel, hospitality and marketing giant Carlson Companies. The announcement was made during a gala 65th Anniversary celebration at Minneapolis' State Theatre, held in conjunction with the company's annual executive conference.

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The Caribbean Hotel Association Pulls Together in Contingency Plan

The Caribbean Hotel Association (CHA) is setting in motion a number of preparedness and response measures on behalf of Caribbean hotels, in light of the conflict in the Middle East and the resulting impact on the tourism industry. "From the experience of the Gulf War and the aftermath of September 11, 2001, a drop in demand is to be expected," said Dominican hotelier Sim?n B. Su?rez, President of CHA.

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Mandarin Oriental, New York Set to Open Late 2003

With its international reputation for outstanding service, as well as its restaurant and spa expertise, Mandarin Oriental is set to provide an unparalleled New York guest experience upon debuting its luxury new hotel in late 2003. With its exotic oriental origins, an individuality that is reflective of Manhattan's culture and style and a holistic approach to service, Mandarin Oriental, New York will distinguish itself as the city's most dynamic property.

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March 7, 2003

Millennium in the Six Continents lobby

Millennium & Copthorne yesterday said it could be interested in Six Continents' InterContinental hotels chain as its recovery in full-year profits was overshadowed by tough current trading. Kwek Leng Beng, chairman, said he was "watching" events at Six Continents and added: "I think we could be interested at the right price in the InterContinental." He ruled out any interest in Thistle Hotels, which is also facing a hostile bid.

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Six Continents stands firm on vote date

Six Continents, the hotels to pubs chain, stood firm in the face of a ?5.5bn hostile bid yesterday, and reiterated its rejection of calls to delay a vote on the planned separation of its hotels and pubs businesses. The news came as franchisees who run Six Continents' hotels in the US - such as Holiday Inn hotels - threatened to quit the group if the bid by entrepreneur Hugh Osmond succeeds.

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Owners' Association of Six Continents Hotels Concerned Hostile Take-Over Bid Will Hurt Value of Their Assets

The IAHI, The Owners' Association of Six Continents Hotels Inc., announces today that the IAHI Executive Committee spoke following the release of details on the hostile bid by CMI and believe an offer, substantially as submitted, will likely have a negative impact upon the operation and value of their hotels."There are approximately 2,800 franchised hotels in the Six Continents Hotels System of which the IAHI represents 80 percent of those hotels," said Jay Fishman, Chairman, IAHI Board of Directors.

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Hotels Struggle with World's Toughest Challenge

Deloitte and Touche Travel Tourism and Leisure - Executive Report
March 2003 -- In this article, we focus on the hotel sector and assess how global operators are still counting the cost, using performance information from Deloitte and Touche's HotelBenchmark Survey widely recognised as containing the most comprehensive and authoritative industry data outside North America. To ensure direct comparability of year-on-year data, we have analysed the performance of a consistent sample of hotels representing more than 800,000 rooms.

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ITB opens tomorrow with more exhibitors from the Middle East and Asia

ITB Berlin 2003 - the world's biggest travel trade show, which opens tomorrow, will break new ground if there is no war in the Middle East,. The fair, which will be on till March 11, expects to attract more than 9,000 exhibitors from 180 countries and territories. This year there will be more exhibitors from Arab and Asian countries, as well as from Turkey, Russia and the Ukraine. After withdrawing in 2002, companies such as Thomas Cook, Club Med, Lufthansa, Start Amadeus and Sabre are making a comeback. According to ITB organisers, Messe Berlin, experts predict that demand for travel will remain high in 2003. Destinations considered "safe" should enjoy vigorous growth. Both demographically and economically the Pacific Asia region is experiencing rapid growth, which in turn is driving the global tourism industry.

Orient-Express Hotels Reports 2002 Results

Orient-Express Hotels Ltd. owner-operator of 41 luxury hotels, tourist train and river cruise properties in 17 countries, today announced its results for the quarter and year ended December 31, 2002. For the quarter, net earnings were $4.2 million ($0.14 per common share) compared with $3 million ($0.10 per common share) for the fourth quarter of 2001. Revenue was up 25% quarter to quarter, from $59 million to $73 million. For the year ended December 31, 2002 net earnings were $25.3 million ($0.82 per common share) compared with $29.9 million ($0.97 per common share) in the year ended December 31, 2001. Revenue for 2002 was up 11% from 2001, from $261 million to $289 million.

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HSMAI 2003 Calendar Of Events

The Hospitality Sales & Marketing Association International (HSMAI) presents a comprehensive line-up of industry events and programs throughout 2003, delivering educational sessions as well as business-to-business forums for buyers and suppliers of hospitality, travel and tourism.

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Marriott UK 'outperforms' 4-star sector in second half

e-Tid.com - Whitbread, exclusive operator of the Marriott franchise in the UK, has reported that the brand has outperformed the four-star sector in the second half of its year which run to end-Feb. In a pre-close trading statement, Whitbread reported a 'significant revPAR premium' at Marriott, thanks in part to the post-11 efficiency measures. Like-for-like sales growth in the first half was 1.7% short of last time, with the shortfall improving to 0.4% for the 51 weeks to Feb22.

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IndeCorp Corporation Announces Departure of President and CEO, Peter Cass

Peter Aeby, Chairman of the Board of IndeCorp Corporation, which owns and operates three brands of independent hotels located on five continents, Preferred Hotels(R) & Resorts Worldwide, Summit Hotels & Resorts and Sterling Hotels & Resorts, announced today that Peter Cass has left the organization as President and CEO of the company, effective immediately. Mr. Aeby said that the decision was reached mutually and made in the best interest of the corporation. Mr. Aeby and Board Member Onno Poortier will jointly oversee the corporation until a successor is named.

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Dorchester Group buys Starwood Milan hotel for €275m

e-Tid.com - Starwood has sold its Hotel Principe di Savoia in Milan to the Dorchester Group for €275m. The hotel is part of Starwood's CIGA portfolio, its upmarket properties which it has been trying to sell, officially, since the start of 2002. Originally it wanted to sell the 25 units as a bundle but decided to listen to individual offers.

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Sterling Hotels & Resorts Announces Management Changes and New Services

Chicago-based IndeCorp Corporation, the independent hotels corporation that owns Sterling Hotels & Resorts, Preferred Hotels & Resorts and Summit Hotels & Resorts, announces new management changes and new services to its Sterling Hotels and Resorts brand. Bruno Maini, formerly Vice President of Worldwide Development for IndeCorp, as been promoted to Sterling Hotels & Resorts' Managing Director.

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Golden Tulip Expands Via Joint Venture In Brazil

Golden Tulip Hotels, Inns & Resorts announced its intent to enter into a joint venture with existing Brazilian master franchisee Chambertin Hoteis Ltd with the objective to grow the current hotel portfolio throughout Brazil, Chile, Argentina and Uruguay to reach 50 hotels by the year 2007. The current portfolio counts 11 hotels in Brazil, of which the contracts of six new hotels were signed during the recent visit of Hans Kennedie (Managing Director) and Rachna Taneja (Strategic Development Director) to Brazil. Two further hotels are scheduled to be opened during the course of 2003.

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Chinese Tourists Bring Vitality to German Market

When the first 215 Chinese tourists in four groups returned from Germany last week, they found their luggage 50 percent heavier than when they left. In the 10-day trip, the tourists not only visited famous cities such as Berlin, Munich and Heidelberg, but also spent over 10,000 euros buying German leather, sports wear and other items. They had paid 10,000 yuan (1,250 US dollars) on average for the trip. Wang Yanguang, an official with China International Travel Service, believed Chinese tourists had added vitality to German tourism development.

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Indonesia's Foreign Tourist Arrival Declines in January

eTurbo.com - The number of foreign tourists visiting Indonesia in January 2003 decreased to 279,400, or slightly down by 0.91 percent compared to that of December last year, the Central Bureau of Statistic (BPS) announced Tuesday. The decline in the number of foreign tourists was mostly attributed to the Bali tragedy on Oct. 12 last year. According to the BPS chief, Soedarti Surbakti said the number of foreign visitors visiting Bali in January 2003 decreased to 66, 000 or 2.95 percent, lower than the figure in December last year.

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March 10, 2003

Marriott considers making rival bid for hotelier Six Continents

Marriott International is considering making an offer for Six Continents PLC, owner of Holiday Inn, Inter-continental hotels and several chains of pubs, a newspaper reported Friday. The Financial Times said that Marriott, which operates more than 2,000 hotels worldwide under management contracts, is considering an offer to rival the hostile takeover bid worth 5.6 billion pounds ($8.8 billion) made by food and drinks entrepreneur Hugh Osmond.

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Thistle poised to sell top London hotels

Thistle Hotels is reportedly planning to sell some of its top London hotels in a bid to return ?500 million to shareholders. The move comes just days after the Leeds-based group rejected a ?554 million bid from its largest shareholder, Singapore-based BIL. The investment firm, which already owns 46% of Thistle, tabled a bid on Tuesday, offering 115p per share for the remainder.

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GOPPAR, a derivative of RevPar!

Written By: Elie Younes and Russell Kett HVS International

Hotel managers, operators, investors, and analysts typically now use RevPAR as a basis for their hotel performance measure and analysis. This widely used measure reflects the guest rooms revenue on a per room basis, thereby monitoring the success or otherwise of the hotel's rooms inventory management. Hoteliers aim to maximise RevPAR by means of an occupancy and average rate trade off. Rooms revenue makes up a large portion of total revenue. Typically, full-service three- to five-star hotels derive about 50-65% of their revenues from rooms. Budget and extended stay hotels with limited additional facilities make up to 90% of their revenues from rooms.

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Dubai's hotel sector revenue up 19.28pc

Dubai's hotel sector registered 19.28 per cent revenue growth in 2002 to Dh3.8 billion from Dh3.2 billion in 2001, despite a difficult year for global tourism following September 11, according to the Department of Tourism and Commerce Marketing (DTCM). This includes Dh3.4 billion generated from the hotel sector (excluding furnished apartments) that increased by 22.12 per cent from Dh2.7 billion in 2001.

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Australia and New Zealand join forces at ITB

AsiaTravelTips.com - The Australian Tourist Commission (ATC) will lead a delegation of Australian and New Zealand tourism operators to the World's largest travel show, Internationale Tourismus Borse (ITB), in Berlin this week. ATC Managing Director, Ken Boundy, said the delegation, representing more than 50 tourism companies, will be showcasing Australia to the European travel market at ITB from 7 to 11 March.

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Le Meridien names UK chief

e-Tid.com - Le Meridien has confirmed that Karyn Marasco will be responsible for its 19 properties in UK and Ireland with a 'relaunch and repositioning' of its five London properties one of her key tasks. In November Le Meridien's UK and Ireland MD Tony Troy resigned. Marasco is not given the same title, as she retains her current responsibilities for the luxury hotel group's 14 Americas and Caribbean properties.

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Kempinski Plans Chain of Its Own

Joining international hotel operators' rush to expand their market presence, German high-end hotelier Kempinski intends to set up its own chain of three- or four-star hotels in the regions, the company's chief executive said in an interview published Thursday. "We are considering the possibility of working under another brand, such as Key International," Reto Wittwer told Vedomosti. Kempinski plans to open as many as three hotels in the next two years and is eyeing "several Russian cities," Wittwer said.

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When Good Hotels Go Bad

By Christina Valhouli Forbes.com As the saying goes, you get what you pay for. Check into a $40-a-night Motel Six and expectations are low beyond clean sheets, hot water and a working television. When guests are paying $400 and up a night, they do not expect anything to go wrong, but even good hotels can occasionally go bad. As those who have found themselves in this situation can attest, there are few more annoying or infuriating moments in one's life than arriving at a five-star hotel, tired and bedraggled after a long flight, looking forward to several days of pampering and, more immediately, a soft bed and hot shower--only to have your expectations brought rudely crashing to the ground.

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GHM's first hotel in India, The Leela, Goa

General Hotel Management Ltd (GHM) and Hotel LeelaVenture Ltd. announced the appointment of GHM as the operator of The Leela, Goa, formerly known as The Leela Palace, Goa with effect from 1 April 2003. GHM is pleased to have formed this association with Capt. C.P. Krishnan Nair, Chairman Hotel LeelaVenture and a pioneer in the Indian hotel industry, as the owner of the first GHM hotel in India.

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Turkish tourism looks promising despite Iraq crisis

Turkey appears to be in a more advantageous position compared to last year in terms of tourism despite the negative atmosphere created by a looming war in neighboring Iraq, international tourism agencies said. Hotel reservations in most of the popular touristic countries in the Mediterranean region have been decreasing but Turkish, Bulgarian and Croatian tourism sectors have recorded growth in terms of reservations compared to last year, said executives of travel agencies TUI and Thomas Cook in remarks to a German journal FW.

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Marriott Sets Single-day Company Record in Web Site Bookings of More than $4.8 million in Gross Sales on March 3, 2003;

Marriott International, Inc. announced that it set a single-day company record in bookings on its web site, Marriott.com, generating more than $4.8 million in gross sales on March 3, 2003 - the highest since the site was launched in 1996. The record comes just weeks after Marriott.com announced a series of web site enhancements that enable travelers to design their own travel packages and book last-minute weekend getaways.

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Strong Caribbean presence at ITB

The Caribbean is prominently featured at one of the world's leading travel exhibitions, the International Tourism Exchange ITB Berlin 2003 which takes place in the German city of Berlin from March 7-11, 2003. Twenty-eight (28) of the Caribbean Tourism Organization (CTO)'s 32 member countries are among the 181 countries and territories participating in the event. As it has done every year since 1980, CTO will coordinate a Caribbean Village at the Berlin Exhibition Ground, site of the tourism trade fair.

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March 11, 2003

Raffles President & CEO Dick Helfer quits - Jennie Chua to head group

After 17 years with the Raffles group, president and CEO of Raffles Holdings will leave the Singapore-based hotel company on April 10. News of his resignation, the subject of intense speculation the past few months, hit Singapore's hotel circles' last Friday evening. Taking over the reins will be Jennie Chua, currently deputy CEO (operations and marketing) of Raffles Holdings and president and COO of Raffles International, the hotel management arm of Raffles Holdings.

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Six Continents awaits crucial demerger vote

Directors of hotels and pubs giant Six Continents are expected to wait until a final count of postal votes from major shareholders later today before deciding whether to press on with Wednesday's crucial meeting on demerger proposals. Their decision will be taken in the light of increasing speculation that the private equity firm CVC Capital is preparing to mount a ?6 billion "friendly" bid for the company - but only if directors hold back on plans to split the business into separate hotel and pub companies.

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CVC prepares ?6bn bid for Six Continents

CVC Capital Partners, the leading private equity firm, is close to putting together a consortium to make a ?6bn friendly cash bid for Six Continents, the hotels and pubs group. It is on the verge of signing a deal that would create a bidding consortium with Texas Pacific Group (TPG), one of the biggest private equity groups in the world, and two international hotel groups, Marriott and Starwood. The group is being advised by JP Morgan, the investment bank.

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Making room for a Hyatt IPO

Global Hyatt - the holding company Hyatt Corp. will create to combine aspects of its domestic and international hotel operations - has some housecleaning to do before it can host public investors. An initial public offering of the hotel company owned by Chicago's Pritzker clan is viewed as a likely component of the family's plan to divvy up its empire. But the privately held hotel company isn't quite ready for the public markets. Before it can compete on Wall Street with rivals such as New York-based Starwood Hotels & Resorts Worldwide Inc., Marriott International Inc. in Washington, D.C., and California's Hilton Hotels Corp., Hyatt must address several issues.

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Cornell Hotel Society Panel Discusses 2002 Performance and Perspective for the New Year

The New York Chapter of the Cornell Hotel Society organized its kick-off event for the year with "2003: What Now?", a panel discussion featuring six key members of the lodging industry at the Westin New York at Times Square on Monday evening, February 24, 2003. The panel, moderated by Sean Hennessey of PricewaterhouseCoopers, featured Stephen Brandman of the Pomeranc Group, Marc Falcone of Deutsche Bank, Sean Hehir of Trinity Hotel Investors, Karen Rubin of Starwood Hotels and Resorts, and Brett Traussi of The Dinex Group.

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Proxy Statements - How to read them and what to look for Part 2 of 2

Written By: David Mansbach HVS International If you are a company employee, shareholder, or potential investor, it is important to understand several parts of the proxy statement. Part 1 discussed the Summary Compensation Table and how it should be read to effectively track executive pay versus performance. Two other areas of the proxy worth discussing are the Stock Option Grants Table and the Aggregate Option/SAR Table.

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Online travel still charting growth, says Travelocity's founder

Even though the travel market in general is on a decline due to unsettled economic and political conditions, the online travel market is on the rise, said Terrell Jones, former chief executive and founder of Travelocity.com. Now a consultant to many of the big names in online travel retail, Jones was addressing the group at the EyeforTravel USA West conference in Las Vegas.

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Thailand: Hotels, services a solid bet in short, medium terms

Tourism rebound lifts most hotel stocks though some three- and four-stars struggle amid intensifying competition -- A rebound in the domestic tourism industry and terrorist threats and unrest in some neighbouring countries have helped boost the local hospitality business. Leading listed hotels showed strong performances, providing investors with an attractive punt. During the past year, tourism showed a strong rebound, with 7% growth in arrivals over 2001.

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Golden Tulip's impact on hotel room business measures Euro 67.5 million in 2002

In its first annual report, Golden Tulip announces the impact on the gross room revenue into its 264-strong hotel portfolio to be Euro 67.5 million in 2002, accounting for 15 per cent of the portfolio's overall room revenue In the Middle East & Africa, comprising 15 hotels in 2002, Golden Tulip contributed 9% of the region's room business. This percentage comprises the business that is measurable, whilst the full impact of the brand remains intangible. The overall room revenue of the Middle East & African hotel portfolio reached Euro 23.5 million in 2002, of which Euro 2.1 million were impacted by Golden Tulip's six measurable value drivers. The annual report further outlines the company's present, past and future.

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Global Tourism Destinations Promoting in China

As spring nears, some of the world's popular tourism destinations have been promoting themselves in China, in the hope of attracting more Chinese tourists and setting up closer ties with China's tourism circle As spring nears, some of the world's popular tourism destinations have been promoting themselves in China, in the hope of attracting more Chinese tourists and setting up closer ties with China's tourism circle.Nearly 20 tourism companies from northern Europe were in Beijing as the 2003 tourism season nears. Denmark, Norway and Sweden promoted their beautiful scenery and way of living.

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Online Travel Companies in Europe Get the Last Laugh

After the Internet bubble burst, pundits hurled plenty of dot-bomb epithets at Brent Hoberman. None of it fazed the energetic, 34-year-old chief executive and co-founder of London online travel service Lastminute.com PLC Sure, the stock cratered, plunging 97% from its $8.77 peak on Mar. 14, 2000, the date of its initial public offering, to a nadir of 25 cents on Sept. 19, 2001. But Hoberman never gave up his dream of building Europe's largest e-travel business -- and never dropped the dot-com suffix. "The best motivation for our staff was to see new sales records every day," he says. "Any pessimism was wiped out by that."

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India: Poor IT services hit hotel business: study

Low levels of communication services, such as Internet, telephone, fax and television, have impacted occupancies at three- and four-star hotels, a study conducted by the Federation of Hotels and Restaurant Association of India said today. "In three- and four-star hotels, while the level of information technology (IT) services being offered is better, it has become imperative for individual properties to upgrade IT services in order to lure customers," the study said.

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March 12, 2003

Global Staff Movements - Who is in and who is out

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

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Six Continents move to demerge in the balance

Embattled hotelier Six Continents faces a crucial shareholder vote on Wednesday on its demerger proposal, which hangs in the balance as investor interest builds in bids for the group instead. The world's biggest international hotel group needs a 75 percent majority vote on Wednesday to separate its hotels and UK pubs, but it is fighting off a bid from millionaire entrepreneur Hugh Osmond and a potential one led by private equity firm CVC. Six Continents, which runs the InterContinental and Holiday Inn hotels, says it is pressing ahead with Wednesday's vote and will not be derailed in its push towards demerger after it received proxy votes for the meeting on Monday morning.

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Speech by WTO President Francesco Frangialli at the inauguration of the ITB

It is a singular paradox that the ITB -- this great fair dedicated to tourism, an activity that is the synonym of peace - is opening at a time when the world is preparing to go to war! Do we really have the heart to think about travel, relaxation, leisure and holidays, while weapons are at the ready and people are bracing for suffering? This antinomy, however, is only illusory: it is when times are getting harder, when images of destruction and hate swirl all around us that the need to get away and escape is most keenly felt. For the past two years, we have been wrestling with this contradiction........

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News@PATA

THREE PATA TASK FORCE REPORTS OUT NOW -- Three PATA Task Force reports are now available: 1) PATA Macao, China Task Force: Learning from the Past, Re-engineering for Future Success 2) PATA Hangzhou, China Task Force: Gearing-up for International Tourism 3) PATA Bali Recovery Task Force Report. The reports provide practical advice for their respective host destinations and serve as useful case studies for others.

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Jurys holds on to profits growth

Caterer.com - Irish hotel group Jurys Doyle has reported continued profit growth in the two months since the end of October 2002. The company, which today reported full-year results for the eight months to 31 December, recorded a pre-tax profit of €38.3m (?26.4m), compared with €51m (?35.2m) for the 12 months to 30 April 2002. Turnover reached €183.8m (?127m) during the eight-month period.

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Europe's largest hotel companies and WorldRes form new Joint Venture

Three of Europe's largest hotel companies - Accor, Six Continents and Hilton International - have invested in WorldRes Europe, a new joint venture created to market and sell hotels online throughout Europe. WorldRes is contributing its reservation technology and European subsidiary. This agreement is currently under review by the European Commission regulatory approval.

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Outlook: Whitbread

One of the surprise out-performers in the stock market so far this year is Whitbread, a company which these days has virtually no connection with its past as a brewer. Instead, it is a curious assortment of leisure interests from Pizza Hut and Beefeater restaurants to David Lloyd tennis clubs and Marriott hotels. David Thomas, the company's media shy chief executive, wouldn't agree that the shares are rising because people see his company as the next Six Continents, ripe for break-up, securitisation and asset-stripping bids. Rather, he would say, it is because he is delivering, and there is some truth in that perception.

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Rezidor SAS adds New Lifestyle Hotel Brand "Cerruti"

Rezidor SAS Hospitality announces the addition of a new lifestyle hotel brand bearing the name of the well-known fashion brand "Cerruti." The new brand joins Rezidor SAS' current four brands: Radisson SAS, Regent, Country Inn and Park Inn. Contracts for the first Cerruti Hotels have already been signed. With the name Cerruti, Rezidor SAS Hospitality now enters the lifestyle hotel market with a brand that embodies a particular lifestyle.

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Mandarin Oriental New York to set new precedent in luxury guest experience

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Indonesia to host conference of ASEAN Hotels

Indonesia will host the conference of the ASEAN Hotel and Restaurant Association (AHRA) in September, a businessman has said. `We will improve the tourist exchange program among AHRA`s member countries,` secretary general of the Indonesian Hotel and Restaurant Association, Adnand Karamoy, said here Monday. The conference is also expected to issue a recommendation on standard of hotel product and service, as well as investment and human resource development among the association`s member countries, he said.

March 13, 2003

Hilton International Chief Executive Anthony Harris dies

Caterer.com - Anthony Harris, chief executive of hotel group Hilton International, has died aged 47. He is survived by his wife Jackie and their three children - Tom, Ella and Anna. Hilton Group chief executive David Michels said: "I am deeply shocked and distressed by the death of Anthony. A colleague and friend of more than 25 years, he will be a great loss to me both personally and professionally. He will be sorely missed."

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Six Continents blow for Osmond

Corporate raider Hugh Osmond's audacious ?5.5bn ($8.8bn) bid to take over the world's biggest hotel group has been rejected by shareholders in the first round of voting. In a show of hands, Six Continents shareholders voted instead to accept the hotel and pub giant's demerger plans. The vote is a major blow for Mr Osmond, who must now wait 48 hours for the official result, which includes millions of proxy votes.
His offer for Six Continents was dependent on shareholders rejecting the board's demerger plan.

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Six Continents opens door to bids

Six Continents has taken the highly unusual step of setting up a committee of directors with the sole task of evaluating takeover offers. The move comes as shareholders were today voting on whether to accept its plan to demerge its pubs and hotels divisions. It was seen as a last-ditch attempt to fend off accusations from shareholders of intransigence in the group's poorly-performing boardroom. They have repeatedly complained that the group has stubbornly refused to countenance takeover offers that could bring value to long-suffering shareholders.

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Germany: hotel profits tumble as economic conditions worsen

German hotel profits fell an average 12 percent in 2002, according to data released today by Deloitte & Touche at the International Hotel Investment Conference. All hotels recorded in Deloitte's HotelBenchmark survey of Germany reported declines in profitability, reflecting the high fixed costs of the business that could not be reduced in line with the fall in customer demand. Occupancy levels were down nearly five percent.

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Despite Low Consumer Confidence, Traveler Sentiment Shows Slight Improvement In First Quarter Of 2003 - TIA Reports

After dropping nearly 10 percent in the past two quarters, the Travel Industry Association of America's (TIA) Traveler Sentiment Index rebounded slightly in the first quarter of 2003. The overall index now stands at 97.1, up nearly four percent from the fourth quarter of 2002, when the index stood at 93.7. Still, traveler sentiment is below the stronger levels seen in the first half of 2002.

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Middle East Region's leading publisher calls on tourism and hospitality sector to 'know its customer'

Robert Serafin, managing director of Middle East publishing group ITP, urged the tourism and hospitality sector in Dubai to 'truly know its customer' in order to achieved continued success. Serafin was addressing industry leaders at the Dubai chapter of Skal in his capacity as publisher of Time Out Dubai and Abu Dhabi. He said: "With new restaurants and hotels springing up across Dubai, what makes the difference to us as consumers is consistent quality and service.

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Bahrain Hotels company sets standards

The Bahrain Hotels Company (BHC), which owns the Gulf Hotel and the Gulf Cellar, increased its net profit by 11 per cent to BD2.58 million last year, it was revealed yesterday. The Gulf Hotel has maintained the leading position in the market, achieving the highest number of rooms sold and highest number of food covers served, board chairman Farouk Almoayyed told the annual general meeting at the hotel's Awal Ballroom.

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The Potential Impact Of An Iraq War On Travel & Tourism

The uncertainty created by the potential conflict in Iraq has led the World Travel & Tourism Council to produce two sets of research to more fully explain the potential outcomes. WTTC has identified a base case scenario in which there is a diplomatic solution or victory after a short, contained war. Secondly, the more devastating impact of a prolonged war scenario was analyzed. The WTTC research, produced for 161 countries worldwide, demonstrated the importance of Travel & Tourism to the world economy when the direct and indirect economic impacts of the industry are assessed.

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Florida Hotels Recovering From Toughest Year in Recent Memory

The Florida Hospitality Services Industry is recovering from its most difficult year in recent memory. The combination of the cooling economy, war on terrorism, and prolonged reductions in international and leisure travel, combined to make 2002 one of the worst for the hospitality industry in the last twenty years. In general, most Florida markets will improve in 2003, but only by the smallest of margins.

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Serbian Tourism revenues up 63%

The Serbian Tourism Organisation said Monday that some 2.2 million tourists visited Serbia last year, bringing in $65 million in revenues, up 63 percent against the previous year. Foreign visitors accounted for 14 percent of the total number of tourists. There were 7.2 million overnight guests in hotels across Serbia, unchanged from the previous year.

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March 14, 2003

Asia-Pacific region to see tourism boom

With tourism increasing at twice the global average in the Asia-Pacific region, travel experts are predicting that China, India, Southeast Asia and Australia are destined to become major players in worldwide travel. The Asia-Pacific region, which is home to two-thirds of the world's population, continues to grow rapidly, and currently generates some 60 percent of global tourism demand. Intra-regional travel already accounts for an astonishing 70 percent of arrivals to Asia-Pacific countries.

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Q4 2002 showed first signs of hotel rate rises, says Amex

After a flat nine months, hotel rates in the fourth quarter (Q4) of 2002 showed signs of picking up in North America, Europe and, in the low range category, in the Far East/Australasia, according to American Express's Corporate Travel Index. Hotel rates in North America, generally accepted as the barometer for market prospects, increased across the board in Q4. Lower range rates increased by 4.5 per cent, mid-range rates were up by 5.5 per cent and upper range rates by 3.2 per cent. The strong growth in Q4 has helped restore year-on-year gains in the USA, with final results for 2002 showing gains over 2001 of 1.8 per cent in the lower range, 4.8 per cent in the mid range and 0.9 per cent in the upper range.

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European Outbound Travel Increased By 2 Per Cent In 2002

Europeans took roughly 415 million outbound trips in 2002, or an increase of nearly 2 per cent on 2001's level, according to preliminary results presented yesterday by Rolf Freitag and his team from IPK International and its partner companies. This makes 2002 the best outbound year Europe has ever seen in terms of trip volume. Due to the growth in trip volume as well as a slight decrease in the length of short outbound trips, overnight volume rose by 3 per cent to 4.0 billion. The average length of a European outbound trip is now 9.6 nights. Total expenditure for outbound trips (sales volume) was up by only 1 per cent.

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ITB Global Update

Foreign tourists spent a record US$8.9 billion while in Mexico last year. The Tourism Ministry says that the income from foreign tourists rose to its highest level ever despite a nearly 1 per cent annual drop in total visitors. Those who came to Mexico last year spent more. The average foreign tourist who checked into a hotel during his trip to Mexico spent US$342 in the country, while those who just took a quick excursion across the border spent US$25 and cruise passengers spent an average of US$55 while on land. Mexico received more than 100 million foreign visitors in 2002, close to 20 per cent of whom purchased accommodation for at least one night.

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M?venpick Hotels & Resorts Withholds Industry Storms -Positive Results in 2002 and Six Hotels Openings Scheduled for 2003

Despite a difficult business environment, Swiss hotel group M?venpick Hotels & Resorts (MH&R) reported positive earnings for year end 2002. The EBITDA (Earnings before interest and taxes depreciation and amortisation) for the 2002 fiscal year was reported at CHF 12.8 million, and overall turnover dropped by only 1.5 percent. The secure and debt-free financial situation- an exception within the hotel industry - will provide the basis for the hotel group's further growth.

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Great Hotels of the Word to enter Luxury Family Market

Great Hotels of the World, the luxury, global hotel marketing alliance, has announced plans to enter the family travel market with the launch of its Luxury Family Collection. This will be the company's fifth niche market programme and will feature a global collection of exclusive properties that have an exceptional offering for the premium family market.

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Hotel and Lodging Industry Association Formed

The Los Angeles Area Hotel & Lodging Association is the new name of the 70-year-old Southern California Business Association. Hotels were the largest membership segment of SCBA. "This is an important step toward our vision of becoming the leading representative of the lodging industry in Los Angeles County," said Chairman Michael D. Hirsch, CHA, who is general manager of the Hilton Los Angeles North/Glendale Hotel. "Our membership will include hotel and lodging owners/operators and allied members with a vested interest in the lodging industry."

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Capitalize on the Power of Suggestion

In today's competitive environment, a company's ability to reduce costs, increase efficiency, and continuously innovate is vital to its success. And common sense dictates that line workers - the individuals closest to the processes, products, vendors, and customers - are in the best position to identify such opportunities. Sounds a lot like the rationale behind the suggestion boxes of yesteryear, doesn't it?

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'Burj Al Arab Chefs scoop record 52 medals during 'Emirates Salon Culinaire 2003'

Chefs from Burj Al Arab, part of Dubai-based luxury hospitality group Jumeirah International, have won a record number of 52 medals and scooped the award for 'Best Overall Hotel of the Year' during the 'Emirates Salon Culinaire' competition held in Dubai last week.

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China Update

Passenger traffic through China's airports increased 11.3 per cent in 2001, largely unaffected by 11 September, to just under 150 million. This is expected to grow to 200 million by 2005. Growth at the top two was even faster, but slower at Guangzhou, which has been losing share since 1992 - when it was the country's largest. However, much of Guangzhou's growth has been taken by Shenzhen's airport, a special economic zone in the same Guangdong province, as Guangzhou. Opened only in 1991, Shenzhen is now China's fourth largest. Yet although it grew 21 per cent in 2001, it is still only half the size of Guangzhou.

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Vietnam optimistic about steady fast growth in tourism

Vietnam is very optimistic about the steady fast growth of its tourism sector, setting a target of welcoming 17 million tourists this year, including 2.8 million foreigners. Vietnam is recognized as a safe and friendly destination in the world, and it's a very big advantage of the country's tourism, Vietnam News Agency Tuesday quoted Deputy Director General of the Vietnam Administration of Tourism (VAT) Pham Tu as saying Tuesday.

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