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ehotelier Hospitality News Archives: July 2003
Global Hospitality Newsletter: July 26, 2003
Global Staff Movements - Who Is In and Who Is Out
For this month's Global Staff Movements, edited by Benoit Gateau-Cumin, President, The Boutique Search Firm
June 2003: How has the European hotel industry faired during the first half
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Lenders to the troubled Le Meridien hotel chain were last night locked in negotiations with financier Guy Hands to extract better terms from his proposed rescue package.
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A rescue package worth Pounds 150 million for Le Meridien, has been accepted by Royal Bank of Scotland (RBS), giving a significant boost to the chances of the luxury hotel operator avoiding insolvency proceedings.
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LaSalle Hotel Properties Reports Second Quarter Results; RevPAR Declines 4.0 Percent for the Quarter
LaSalle Hotel Properties (NYSE:LHO) today reported net income of $32.2 million, or $1.70 per diluted share/unit for the second quarter 2003, compared to net income of $1.2 million, or $0.06 per diluted share/unit for the prior year period.
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PERNAS Hotel Chain Sdn Bhd, the hotel division of Pernas International Holdings Bhd, is building up the Mutiara Hotels & Resorts name into an international hotel management brand, its managing director Zain Puteh said.
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Dubai Summer Surprises has undeniably played a role in promoting Dubai's tourism products in the summer. Hotels across categories have created choicest packages whether in their room fares or within their restaurants
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The latest Australian Bureau of Statistics tourist accommodation performance results show that many of Australia's hotel markets were resilient during the March 2003 quarter.
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The Shangri-La Hotel, Dubai – the group's first property outside Asia Pacific – has opened its doors for business. The new five-star 301-bedroom hotel with 126 serviced apartments is the result of a management agreement between Shangri-La Hotels and Resorts and the UAE-based Al Jaber Group.
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Gone are the days when eating out in hotels meant being confined to boring coffee houses and traditional restaurants be they French or Japanese. Today, the hotel dining experience has been given a new lift, thanks to competition from free-standing restaurants and the changing role of hotels in Asian communities
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World Travel Market has teamed up with Travel Channel to broadcast regular `prime time` evening updates from the leading business event across more than 80 countries in Europe, Africa and the Middle East.
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The HotelBenchmark Survey by Deloitte & Touche is the leading survey of its kind, containing data from over 6,000 hotels across all areas of the world outside of North America. The results below reflect a sample of the 320 markets on which we report on a monthly basis, providing depth of coverage and sample sizes, which are unsurpassed in the majority of regions.
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Global Hospitality Newsletter: July 25, 2003
Seminar and workshops at Incentive Travel & Conventions, Meetings Asia (IT&CMA) this year will cater to the needs of both travel professionals and students aspiring to join the industry
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Global events – both economic and political – conspired to reduce hotel-operating profits again during 2002. According to figures released today from the HotelBenchmark Survey by Deloitte & Touche hotel profitability, measured in terms of the industry standard, Income Before Fixed Charges (IBFC), fell across Europe for the second consecutive year declining by 8% during 2002, compared with a 6% decrease in 2001.
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Girls just want to have fun, and hotels and resorts are helping them do it.Packages catering to gals who check in to chill out -- for bachelorette parties, reunions or girls-only getaways -- are popping up on the lodging landscape.
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He Guangwei, director China National Travel Administration (CNTA) said in Qingdao yesterday that as impacted by SARS epidemics, China's foreigner travel sector would lose USD 4 billion in the first half of 2003. Meanwhile, the income from Chinese travel sector would be cut by RMB 84 billion.
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There is a half-built hotel on the edge of town and investors are debating what kind of guests they want to attract — people or birds. Many here say birds are the thing. No complaints, and no overhead.
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Pattani, Thailand: There is a half-built hotel on the edge of town and investors are debating what kind of guests they want to attract — people or birds. Many here say birds are the thing. No complaints, and no overhead.
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At its most basic level, a hotel is simply a place to eat, sleep and do some work. But a hotel experience can be much more than that. To appeal to both business and leisure travelers, a growing number of hotels are offering packages where guests can try hang-gliding, practice their fly-fishing casting techniques or have a personal shopper escort them around Milan's boutiques.
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Garuda Indonesia says passenger loads of more than 80 per cent are being achieved from some Australian ports as traveller confidence in Bali returns. "June average load factors for Australia again rose encouragingly, giving us grounds for optimism over the months ahead, " said Garuda Indonesia general manager New South Wales, Iriansyah Antemas.
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Global Hospitality Newsletter: July 23, 2003
Malmaison founder Ken McCulloch is launching a UK hotel chain called Dakota and opening two Columbus hotels in France and Portugal.The news marks a return to the headlines for McCulloch, who has kept a low profile since he opened his only other Columbus hotel in Monaco in April 2001
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Global Hospitality Newsletter: July 19, 2003
Marriott International Inc, the largest U.S. hotel operator, on Thursday posted a dip in second-quarter profit as the war in Iraq and concerns over Severe Acute Respiratory Syndrome slowed travel.
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London's hotels have suffered greater falls in profits* than their European and UK counterparts, according to a Deloitte & Touche report. The
HotelBenchmark Survey Annual Profitability Review - 2003
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Today’s broadsheet coverage of the ongoing struggles at luxury hotel chain Le Meridien suggest that Lehman Brothers is considering a deal which will see Hyatt run Le Meridien’s international hotels
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Billionaire Saudi businessman Prince Al-Walid bin Talal said Thursday he plans to buy more than 50 percent of Le Meridien and will inject more than one billion dollars to rescue the troubled hotel group.
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Le Meridien, the troubled hotel group, is likely to be split in two following strong indications last night that talks over a Pounds 150 million rescue refinancing led by Lehman Brothers are close to collapse.
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The luxury hotel group Hanover International has asked its financial adviser NM Rothschild to put a “for sale” sign over the chain.
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The World Tourism Organization`s (WTO) General Assembly will be held as planned between 17 and 24 October 2003 in Beijing, as informed in the official letter sent yesterday to the Member States.
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For the U.S.lodging industry, 2003 was supposed to be the year of the turnaround. Unfortunately, sustained economic growth has yet to emerge to the degree that U.S.businesses will have the confidence to increase their investment in travel.In addition, the travel industry has taken direct hits from the war in Iraq, as well as SARS and domestic terrorism alerts.
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The Chinese capital recovering from the severe acute respiratory syndrome (SARS) disease will launch its annual international tourism festival this fall to revive its travel industry.
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Troubled hotel chain Le Meridien is expected to hold further talks with potential saviours this week about a financial rescue package.
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Now that SARS is contained, the country's dominant carrier, Thai Airways, has launched a campaign to lure tourists back, at a cost of more than $24 million.
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Global events - both economic and political - conspired to reduce hotel-operating profits again during 2002 . According to figures released from the HotelBenchmark Survey by Deloitte & Touche hotel profitability, measured in terms of the industry standard, Income Before Fixed Charges (IBFC), fell across Europe for the second consecutive year declining by 8% during 2002, compared with a 6% decrease in 2001
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May 2003 results from the UK edition of the HotelBenchmark Survey by Deloitte & Touche revealed a fifth successive month of revPAR (revenue per available room) declines for the UK hotel industry during 2003.
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Savvy travelers are well aware that it pays to scrutinize their bills when checking out of a hotel, lest a $3.95 charge turn up for peanuts that weren't eaten or $195 for an extra night's stay find its way onto their credit card.
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The PKF City Survey 2003 shows that Geneva knocked London and Paris off the top of the performance chart last year to report the highest rooms yield in Europe
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Across the Middle East hotel-operating profit levels rose 0.7 percent during 2002, reversing some of the reduction suffered in 2001. The Middle East region fared rather better than Europe, where global events, both economic and political, conspired to reduce hotel-operating profits again during 2002. Hotels in Asia Pacific averaged an impressive seven percent growth.
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Global Hospitality Newsletter: July 18, 2003
Asia's travel industry is still suffering the aftershocks of the Sars crisis, but business is starting to pick up and should recover by the end of the year, the head of the World Tourism Organisation said.
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The Tourism Authority of Thailand (TAT) is to remain on course to make Thailand "the Tourism Capital of Asia" under its marketing plan for 2004 finalised earlier this week
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Firm Delivers Total Online Distribution Strategy to Fairmont Hotels & Resorts
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Even without the charges for minibar and telephone, the London hotel is the most expensive in the world, a new survey reports.
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Global Hospitality Newsletter: July 16, 2003
Tourism ministers and industry heavyweights have gathered in Hong Kong for a two- day conference aimed at bolstering an industry hit hard by SARS and fears of terrorism. For Hong Kong, the event was a chance to put the city back on the map after the World Health Organization (WHO) lifted its SARS travel advisory last month.
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Global Hospitality Newsletter: July 12, 2003
Hotel group Le Meridien could be saved from collapse thanks to a last-minute cash boost from the Saudi investor Prince al-Waleed bin Talal, according to reports
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Guy Hands, the corporate financier, has privately conceded that talks with Saudi billionaire Prince al-Waleed bin Talal about a deal to rescue hotel chain Le Meridien are unlikely to win the backing of the company's main banks.
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Lowest Price Guarantees in Hospitality; Age Old Wisdom to Beat the Intermediaries at Their Own Game!
By Max Starkov and Jason Price, July 2003 -- The catch phrase “Lowest Price Guarantee” is an age-old marketing tool widely used in retail since ancient times. Fast forward to present day and some of the most successful retail companies in the US tout the lowest price guarantee. How can hoteliers institute such a policy without interfering or alienating its prime distribution channels?
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May 2003 results from the UK edition of the HotelBenchmark Survey by Deloitte & Touche revealed a fifth successive month of revPAR (revenue per
available room) declines for the UK hotel industry during 2003.
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Langham Hotels International is on course for an October launch, giving independent hotels an alternative to the global players. HOTEL Asia Pacific Editor Steve Shellum reports
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According to Jones Lang LaSalle Hotels, Atlanta offers the best bang for the buck in terms of hotel rates relative to the cost of a Big Mac in the United States, followed closely behind by Dallas.
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Hilton Hotels and Resorts and Hilton International have recently come under sharp criticism from tour operators and travel agencies throughout the United States for its alleged confusing rate structure.
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NH Hoteles SA said its board of directors has unanimously rejected Grupo Inversor Hesperia SA's unsolicited bid for a 26.1 pct stake in the hotel group at 8.3 eur per share.
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Shanghai will need another 100 hotels over the next three years to cope with an increasing number of visitors, the Shanghai Daily reported.
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Domestic investors have dominated the Australian hotel investment market by purchasing 100 percent of major hotels sold over the six months to June 2003.
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TravelCLICK's 2002 eTRAK report demonstrates that total Internet reservations received at the central reservation offices (CRO) for the major chains grew 75% in 2002 over 2001. The company cited that the increase was driven primarily by the rise in activity on the brands' Web sites.
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After sixteen impressive months of revPAR (revenue per available room) growth, (December 2001 to March 2003), New Zealand hoteliers could not escape the knock-on impact of recent global events - most notably the outbreak of SARS and the war in Iraq.
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U.S. hotel room revenue showed a strong rise in the last week of June, ending a down quarter on a positive note as the industry considers whether business will recovery on into the summer.
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U.S. Lodging Industry Shows $14.2 billion in Profit in 2002, a 12% Decline from $16.2 billion in 2001
Smith Travel Research (STR) announced the results of their 2003 Hotel Operating Statistics (HOST) Study. Full year 2002 U.S. industry profits were $14.2 billion, a 12 percent decline from $16.2 billion in 2001. Revenue per available room (RevPAR) decreased 2.4 percent in 2002 to $49.54
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Latest figures from the Office of National Statistics show the number of international visitors to the UK fell 6% year-on-year to 1.82m in May.
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The travel industry just can't seem to cut a break lately. Terrorism fears, a poor economy and even SARS concerns have seen airlines, hotels and other travel-related services go from bad to worse. One silver lining, however, is that the Web continues to grow as a channel for travel sales.
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Across Europe, the travel industry sees signs of sunnier days
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Starwood Hotels & Resorts Worldwide, Inc. announced today that it has completed the sale of 12 non-strategic domestic hotels for approximately $300 million to a group of investors including Olympus Real Estate Partners, Rockwood Capital, Prudential Real Estate Investors and HEI Hospitality.
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Global Hospitality Newsletter: July 11, 2003
“Exhibitors have already booked over 75% of the 3rd International Hospitality Forum and it is likely that the total exhibition space will be filled up much ahead of time” says Vahé Mekhssian sales at Hospitality Services in Beirut
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Global Hospitality Newsletter: July 5, 2003
The results of the new WTO World Tourism Barometer indicate that international tourism might be close to a turning point. Although the world economy is still rather weak, a change for the better is expected to take place in the second half of the year.
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InterContinental Hotels Group said Tuesday that it has sold 16 Staybridge Suites' hotels in the United States to Hospitality Properties Trust for $185 million in cash.
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Tourism generates around 10% of Hungary's GDP and more and more hotels and accommodation facilities are trying to find their own position in the strong competitive hotel industry
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The threat of administration hanging over Le Meridien Hotels receded last night amid indications that Lehman Brothers is ready to inject Pounds 150 million into the company as part of a rescue refinancing.
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A SARS CASE STUDY - As the WHO declares Hong Kong and Beijing SARS-free, business is beginning to recover, with occupancies creeping back to the 30s and 40s. Florian Trento, executive chef at the world-famous Peninsula Hong Kong, tells HOTEL Asia Pacific editor Steve Shellum how he and his team coped during the bleakest days of the crisis.
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How did Shangri-La scoop global giants like Marriott and Hyatt on the much-coveted ANA Grand Harbour Sydney? Group director of operations Symon Bridle discusses its winning strategy with HOTEL Asia Pacific editor Steve Shellum
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Data released by Horwath Asia Pacific at the 2003 Australia & New Zealand Hotel Investment Conference held in Sydney has confirmed that new additions to guest room supply over the next two years for the majority of the Australian capital cities, will threaten an expected uplift in operating performance post SARS.
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Hotel owners are becoming increasingly demanding, according to a group of leading hotel company chief financial officers.
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The future for economy branded hotels is looking remarkably strong, with outstanding opportunities across most of western Europe. Delegates to the sixth annual Hotel Investment Forum heard that even though some countries, such as France and Portugal are probably reaching saturation, many others, including Poland and Spain are ripe for growth. And while the outlook for eastern Europe may be uncertain, Russia is viewed with optimism.
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Hotel property portfolio deals (as opposed to operating company purchases) tracked by Jones Lang LaSalle Hotels in Europe totaled some €3.6 billion (approximately US$4.1 billion) in 2002 against €1.6 billion (approximately US$1.8 billion) for single assets.
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Recent research by Jones Lang LaSalle Hotels has revealed that a combination of three major factors is driving a significant increase in the number of new hotels under development in Europe.
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On the 1st of July 2003, the Shangri-La logo was hoisted up to the rooftop to adorn the façade of the ANA Harbour Grand Hotel to signify the introduction of the renowned Shangri-La brand of hospitality to Sydney, Australia.
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by Keith Kefgen & David Mansbach HVS International - If there has been any positive effect to the recent debacles in the world of corporate governance (Tyco, Enron, Adelphia, Worldcom) it is that Wall Streeter’s and Shareholders have become “educated buyer”.
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National Cornell study finds most hotels making no changes in safety, security staffing or procedures in year after 9/11
Most hotels made no changes to safety and security staffing or procedures in the year following the Sept. 11, 2001, terrorist attacks, possibly because . The news is from a national survey of hotel managers conducted at Cornell University’s School of Hotel Administration.
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Best Western has reorganised its Asian operations to position the chain for significant brand growth in China, Korea and other key Asian markets. Best Western plans to add more than 100 hotels in the next five years throughout the continent.
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