ehotelier Hospitality News Archives: August 2003

MKG Consulting envisions a 2% to 4% drop in RevPAR in European corporate-run chain hotels in 2003 versus 2002

During the first semester of 2003, the RevPAR of corporate-run chain hotels in the European Union has been down by 4% versus the first semester of 2002. The drop in the occupancy rates has affected all categories.According to MKG Consulting forecasts, the European chain hotel industry should record a falling RevPAR versus 2002 by between -2% to -4%.

More... [856 views]

News @ PATA

This week's PATA news and update...

More... [782 views]

Five Wireless Innovators

In this fifth annual E-Gang survey, profiling unsung heroes of high-tech, we look at five people helping foster the next phase of the wireless revolution. They're toppling some of the biggest obstacles to a Wireless Everywhere world: the Babel of standards, frustratingly short-lived batteries and antiquated federal regulations that squander airspace and inhibit new uses.

More... [698 views]

Hot weather fails to warm British hoteliers

Britain's hoteliers, hit by terrorist threats and recession in continental Europe, are not benefiting from the UK’s Mediterranean summer temperatures. The British hospitality industry failed to recover in July as room rates and yields continued to tumble throughout the London market.

More... [717 views]

Tourism Booms Again in China

This summer is as hot as ever. But people's state of mind has changed. After the SARS plague they retrieved their awareness of the importance of environment, health and life quality. As a link close to people's social and economic life, tourism has again caught the public attention.

More... [737 views]

Macao's hotel rooms fall short of supply

With around 9,000 hotel rooms, Macao 's travel accommodation capacity has fallen behind the soaring demand as mainland travelers flock in the 25-square kilometer special administrative region (SAR) in south China under a facilitated individual travel (FIT) policy on Hong Kong and Macao-bound travel.

More... [645 views]

Howard Johnson chain plans expansion in China

US-based Howard Johnson, a hotel chain owned by Cendant Group, said it plans to open 33 hotels in China by 2006 as the country is the top priority in the chain's expansion.

More... [760 views]

Summertime fails to brighten up UK hotels

London hotels suffered badly during July, despite the hot weather, with room rates and profits both down on the corresponding month last year, according to new research.

More... [727 views]

Carpet: The Importance of Care and Maintenance

More... [893 views]

Relieving Pre-Opening Jitters...It's Never Too Early to Start Thinking About PR

You’ve read about the importance of putting public relations into the marketing mix in this column before.  It’s the most cost-effective method for promoting your product, establishing third party credibility and getting your name in front of the public.  And best of all, the cost is minimal when compared with the results.

More... [798 views]

Operators want more Asia marketing to spark post-SARS recovery

Tour operators in Germany are calling for Asian tourist boards and suppliers to join up in a marketing campaign to promote the region as the SARS crisis tails away. But the German trade is realistically not expecting any major upturn in the demand for Asia before this autumn at the very earliest.

More... [653 views]

Marketing is an investment, not expense

Marketing should be seen as as an investment, not an expense, said Frederic Moraillon, managing director of Sound Principles. Moraillon was speaking on marketing strategies for survival at the Travel Agents Exchange 2003.

More... [1036 views]

Hotel web-sites raise the bar

Online hotel booking has become a favorite sport of Internet surfers, who have taken advantage of the anxiety many hoteliers have felt in a sagging economy to book rooms at bargain prices

More... [920 views]

Hilton Group profits show big drop

Hilton Group's first half figures due next Thursday are expected to show a significant decline in profits at the hotel division partially offset by a strong performance from its betting division, Ladbrokes.

More... [848 views]

Dubai to build world's first underwater hotel

The Jumeirah coastline will look different come October 2006 after the completion work on the worlds first underwater hotel to be called the Hydropholis.The hotel under the sea is a brainchild of Joachim Hauser, architect designer of the concept and one of the promoters of the 107,700-square meter development to be built at a depth of 20 meters, about 300 meters from the Jumeirah coastline.

More... [1457 views]

Macao considers building more hotels

The Macao Special Administrative Region (SAR) government will consider accelerating administrative examination and approval of applications for hotel construction to respond to a growing market demand, said a senior SAR government official Friday.

More... [761 views]

InterContinental Hotels Group Ends Contract with Keio Plaza InterContinental Tokyo

The InterContinental Hotels Group today announced the termination of its management contract with Keio Plaza Hotel Co Limited which owns Keio Plaza InterContinental Tokyo. The termination will take effect on September 30, 2003. 

More... [818 views]

Radisson Edwardian Buys InterContinental May Fair

An American group made a monopoly-style swoop on Mayfair today to buy one of London's most prestigious hotels in a £115 million deal. Leisure company Radisson Edwardian will pay around £400,000 a room to check into the InterContinental May Fair.

More... [776 views]

Shangri-la Asia sees 5-10 pct increase in Asia hotel rates in 2004

Shangri-la Asia (69.HK) executives are confident  hotel room rates throughout the region will rise by 5 to 10 pct next year, signalling the start of stronger growth in the industry throughout Asia.

More... [853 views]

Global Staff Movements - Who is In and Who is Out

This month's popular update on Global Staff Movements - Who is In and Who is Out
Edited by Benoit Gateau-Cumin,  President,  The Boutique Search Firm

Click Here

Marriott favourite to take top hotels

Marriott International, the US hotel operator, has emerged as the front-runner to take over London's Grosvenor House and Waldorf hotels under a lease agreement with the Royal Bank of Scotland, which owns the properties.

More... [1169 views]

Hotels combat threat on Net Discounters' sites cut into bottom line

The nation's hotels, hit hard by a three-year economic slump that has seen business travel plummet and leisure travel disrupted by post-Sept. 11 fears, the Iraq war and severe acute respiratory syndrome, are now grappling with a new financial threat: mass discounting of hotel rooms on the Internet through third-party retailers such as Expedia and Hotels.com.

More... [1229 views]

News @ PATA

This week's PATA news and update...

More... [636 views]

Ian Schrager, host to the stars, left reeling by $400m hotel bill

Give this much to Ian Schrager, the owner of trend-setting hotels such as the Sanderson in London and the Royalton in New York - he knows how to make a big noise in the media on behalf of his properties. But nowadays, there is a new buzz about his business and it is hardly a glamorous one. He is on the financial ropes.

More... [1298 views]

Cornell experts propose strategies for hotels challenged by growing Internet room bookings by customers

Hoteliers must do a better job of managing the Internet distribution channels for their hotel rooms, say two Cornell University faculty members in a new report.

More... [1229 views]

Pressure on Thistle Hotels owners

Singapore tycoon Oei Hong Leong is making waves once again, building up his stake in the owner of Britain's Thistle Hotels after a couple of months of inactivity. The steady increase in his position in BIL International, which was two cents or 2.5% higher today at 81 cents, has reignited hopes that Oei may launch a takeover bid.

More... [668 views]

Latest PKF Consulting Study Shows Conference Centers Outperforming Rest of Hotel Industry

Despite a slow economy and a decline in business travel, the conference center segment is holding up well, and in general, outperforming the hotel industry as a whole, according to the 2003 edition of Trends in the Conference Center-North America, released recently by PKF Consulting and the International Association of Conference Centers (IACC).

More... [998 views]

Compensation Trends - Dot com Makes a Comeback by Keith Kefgen & Brad Bloom

Change is inevitable even when it comes to investing in technology. In little more than two years after the dot.com debacle, a dot.com CEO wins our top performance award. It is a testament to a solid business plan and a commitment to a pay-for-performance philosophy. We hope it is a sign for a economic turnaround in the coming year.

More... [772 views]

Australia`s city hotels need a new focus to build a stronger customer base

The clear trend towards people holidaying close to home would help pull Australia`s hotel sector through a turbulent period , Stamford Hotels & Resorts Group marketing and sales director David Perry said today.

More... [757 views]

Optimizing user feedback in the hospitality sector

In the hospitality sector specifically, a web site can be one of the most valuable weapons in your marketing arsenal for listening to, understanding, and responding to the needs and wants of your customers, both online and offline. I said can, because in order to be able to respond to the needs and wants of users, web site owners must first be able to collect and interpret user feedback in order to really hear and understand what their users are saying.

More... [740 views]

Hotels had surprising problems during blackout

From generators to flashlights, last week's blackout exposed hotel shortcomings in emergency readiness that in some cases forced travelers to sleep on the streets.

More... [1331 views]

Canadian Tourism Rose First Month in Six in June as SARS Wanes

Visits to Canada rose for the first time in six months in June, after health officials declared Toronto free of severe acute respiratory syndrome.

More... [663 views]

New US security measures driving away foreign tourists, industry warns

Foreign visitors have steered clear of the United States since September 11, 2001, and now tourism industry professionals fear new security measures will turn the country into an inhospitable fortress.

More... [848 views]

Millennium into red at halfway interims

The Iraq war and the Sars epidemic had the predicted "severe impact" on half-year results at Millennium & Copthorne Hotels (M&C), which plunged into the red for the six months to 30 June.

More... [659 views]

Candlewood Hotel Company Reports Second Quarter 2003 Results

Candlewood Hotel Company, Inc. (OTC Bulletin Board: CNDL), a leading owner, manager and franchisor of high-quality, value-oriented, business-travel hotels, today announced results for its second quarter ended June 30, 2003.

More... [661 views]

June 2003: Australia half-year results

Notwithstanding the many events adversely impacting the global travel and tourism industry, in particular the significant decline in visitor arrivals to Australia over the last three months, results from the HotelBenchmark Survey by Deloitte & Touche indicate that the Australian hotel industry has managed to improve performance during the first half of 2003 compared to the same period in 2002.

More... [626 views]

Build it. But will they come? by Leora Lanz & Edyth Shapiro

“Build it and they will come” is no longer the tried and true of the hotel industry. In these competitive days where the major brands dominate, the market may not think it needs a new independent hotel.

More... [769 views]

Rekindled lights – the role tourism can play in the preservation of our industrial heritage By Robert Barnard

In the travel section of The Times on 1 May 2003 there was an article whose opening sentence read 'The best travel idea in Britain in recent years must be the decision by Trinity House (www.trinityhouse.co.uk) ) to do up its empty lighthouse-keepers' cottages and make them available for self-catering holidays through Rural Retreats (www.ruralretreats.co.uk), the upmarket rentals company.'

More... [584 views]

Accor looks to budget sector as growth engine

Leading international hotels group Accor was to focus on the budget sector as it expanded on the mainland, senior vice-president for Asia, Reggie Shiu, said yesterday.

More... [919 views]

Dear Hotel: Honor Thy Room Rate

TRUE STORY. Elliot Holin's trip to Chicago last June ended with a surprise bill being slipped under his door at the Homewood Suites before checkout. "Much to my dismay, the room rate for the second night jumped from $169 to $199," he recalls. Holin asked a front desk clerk for an explanation; the clerk promptly removed the charge. "He told me it was a mistake," says the Dresher, Pa., rabbi.

More... [1323 views]

News @ PATA

This week's PATA news and update....

More... [674 views]

Tough trading conditions hamper German city hotels’ performance during the first half of 2003

Half-year results from the HotelBenchmark Survey by Deloitte & Touche reveal that the German hotel market continues to suffer from the current weak economic climate.

More... [702 views]

Average Daily Rate for European Hotels Jumps 9.3% in Q2

TravelCLICK’s e-Monitor Details Electronic Booking Performance for European Hotels

More... [808 views]

Foster's to float off hotels

Australia's Foster's group has ditched plans for a trade sale for its hotels business and will now offload it via a public float. Australian Leisure and Hospitality will be split in two, with a minimum sale price of $1.4 billion which Foster's is expected to put toward another raid on wine assets

More... [699 views]

Investors check into hoteliers; Thanks to tourists from China, the hospitality industry is shaking off the effects of Sars

For the hotel industry, it is a case of "what doesn't kill you makes you stronger".Just two months ago, investors were shunning hotel stocks, with occupancy rates as low as 20 per cent from normal levels of 70 to 80 per cent due to the outbreak of the Sars virus

More... [797 views]

June 2003: Australia half-year results

More... [691 views]

U.S. Lodging and Gaming Demand Seen Improving in 2003-2004 Despite Threats, Says S&P Equity Analyst in New Industry Study

In a semi-annual study, Standard & Poor's lodging and gaming equity analyst expects that the industries will see improved demand in the second half of 2003 and into 2004. However, the profitability of these industries remains vulnerable to such factors as cautious business spending, price-sensitive consumers, the threat of terrorism, and increased state taxes on the gaming industry. 

More... [645 views]

Radisson SAS to build 50 hotels in Russia

More... [943 views]

Swiss tourism industry resists economic blues

Political instability, the war in Iraq, the Sars virus and the weak economy have put a strain on global tourism, which has seen a drop in demand ever since the end of 2001. According to the Federal Statistics Office, spending by foreign visitors in Switzerland dropped by SFr445 million ($330 million) last year from 2001, to SFr12.7 billion.

More... [754 views]

Australia hopes for better second half

THE world is set to rediscover Australia after a horror first six months of 2003.

More... [698 views]

Jakarta hotel occupancy rate down at 35 pct after Marriott blast

The average occupancy rate of international hotels in Jakarta fell by around 10 pct to 35 pct following last week's bomb blast at the luxury JW Marriott Hotel, said chairman of the Jakarta International Hotels Association (JIHA), George Benney.

More... [909 views]

Europe: Tourism Industry Feeling The Impact of SARS, Iraq, And The Euro

The Iraq war, SARS, fear of terrorism, the rising euro -- many factors are depressing tourism in Europe this year. Reports say the numbers of visitors to popular Western European destination countries like France are down by 20 percent, as fewer Americans are flying across the Atlantic. Lower-cost Mediterranean destinations appear to be doing better. Croatian authorities say they are having their best summer in years.

More... [1064 views]

Mainland, China to Hong Kong: Get ready for visitors boom

Hong Kong has been urged to increase accommodation and other arrangements to prepare for a surge in mainland visitors next month.

More... [857 views]

New Zealand Update: Tourists are coming back

The country's largest tourist business, Tourism Holdings, has managed to exorcise the ghosts of industry disasters past

More... [729 views]

American Tourists Deserting Europe

From luxury hotels on the French Riviera to Viennese cafes and the double-decker buses of London, American tourists have deserted Europe en masse.

More... [1307 views]

The Bottled Water Phenomenon; An Easy Sale, But Is it an Abusive Sale

Bottled water is a phenomenon that’s hard to explain in this day and age.  It’s gone so crazy that it makes for a great add-on for increasing revenues.  Everyone buys water–flavored water, natural springs water, mineral water, sparkling water, fortified water – regardless of what they’re doing, especially at restaurants

More... [932 views]

Five-star lodging can be found online

Bargain-hunting travelers are having an easier time finding high-priced hotels on Internet travel sites this year, thanks to the sluggish economy and continued growth in online sales

More... [822 views]

Ten Best Urban Inns

Most people associate quaint B&Bs with small towns in Vermont, but many major cities have inns as well. While a big hotel can provide creature comforts such as 24-hour room service and movies on demand, such hotels tend to blend and blur for the frequent traveler. Is there a huge difference between a Hilton in New York City or Minneapolis? Not really

More... [694 views]

Nothin' but blue skies

If you're in the travel industry, then you've seen better days. The grim numbers tell the tale: according to TheStreet.com, the airline industry lost $20 billion in 2001 and 2002, and is expected to lose $7 billion in 2003.

More... [816 views]

Spain to see a record 53 million tourists in 2003

Spain expects to see a record 53.2 million tourists this year, the Association of Spanish Travel Agencies said Monday, despite concern that war in Iraq and fears of Basque violence would hit the sector.

More... [922 views]

Multiple Choice

Choice Hotels Europe has weathered an unsettling two years and is now poised to more than double its European presence over the next decade. Angela Frewin looks at its past and its future

More... [740 views]

The California Mid-Year Lodging Report

The U.S. economy continued to be challenged in the first half of 2003; however, recovery is within sight due in part to aggressive fiscal and monetary policies that are anticipated to stimulate the economy with above recent average annualized growth rates during the second half of 2003 and 2004

More... [677 views]

Marriott Jakarta remains closed after bombing

The JW Marriott Hotel in Jakarta, Indonesia, remained closed yesterday after a deadly explosion tore through the ground floor of the 33-story building Bethesda-based Marriott International Inc., which manages the property and employs the 642 workers there, says its biggest concern now is the guests and its employees.

More... [1015 views]

Marriott dips slightly after hotel blast

Shares of Marriott International and several other U.S. hoteliers were down only slightly following an explosion outside a Marriott in Jakarta, Indonesia.
The apparent suicide bombing that killed 13 and wounded scores more, according to the Associated Press, occurred near the company's J.W. Marriott property in the strife-torn nation's capital.

More... [623 views]

Marriott Issues Release Concerning Incident at the JW Marriott in Jakarta, Indonesia

On August 5th at approximately 12:30 p.m. (local Jakarta time), an explosion occurred near the entrance of the JW Marriott in Jakarta, Indonesia. The hotel was immediately evacuated and is currently closed. We are working closely with authorities and have relocated our guests to a neighboring hotel. A list of employees and registered guests staying in the hotel has been assembled, and an employee assistance center is being established on site

More... [767 views]

News @ PATA

This week''s PATA news and update...

More... [717 views]

Second Quarter Hotel Bookings Room Nights Booked via Internet Up 39%

TravelCLICK's eMonitor results for the second quarter of 2003 show that worldwide electronic hotel bookings were up 2.1% for the Global Distribution Systems (GDSs) and Internet combined. This year-over-year growth was fueled by a 39% increase in Internet bookings made through third-party Web sites powered by either Pegasus or the GDS.

More... [892 views]

June 2003: Germany - Rostock hotel performance continues to bloom

Although the German hotel industry saw revenue per available room (revPAR) increase for the first time this year in May, unfortunately June performance did not follow suit. Results from the German edition of the HotelBenchmark Survey by Deloitte & Touche saw revPAR across Germany fall by 10 percent to €45 in June 2003 compared to the prior year.

More... [728 views]

Cape Town or Sydney hotels – which provide the best value for money?

The development of Cape Town as a destination of choice for European and USA tourists since the dramatic events of September 2001 is well documented and understood. However, Cape Town’s ability to remain in that position despite the onset of SARS and the war in Iraq is evidence of the extent to which it has been “discovered”.

More... [776 views]

HSMAI forms internet marketing committee made up of industry`s major hotel brands

Internet marketing specialists from leading hotel companies have united under the auspices of the  Hospitality Sales & Marketing Association nternational (HSMAI) to form a committee dedicated to the most pressing and topical issues facing the industry as it relates to Internet Marketing

More... [793 views]

Hotel investment market relatively strong; Helped by low interest rates and the availability of capital

Still mired in a post-September 11 slump, the nation`s lodging industry will not recover until 2004, according to  Daniel Lesser, managing director, Hospitality and Gaming Group

More... [685 views]

Meridien accounts reveal true extent of losses

The full scale of the financial crisis engulfing Meridien Hotels, the luxury chain, emerged this weekend after the group filed its annual accounts at Companies House. The accounts, filed on Thursday, are for the year to June 2002. They show the extent of the company's troubles even before a debt crisis hit the company in January, which has since forced it to the brink of administration.

More... [1133 views]

Regal close to sell it's hotels

Debt-laden Regal Hotels International is close to selling its hotels and is ready to launch its luxury apartments in Stanley, hoping the moves will help reduce its debt by a third to HK$3 billion, according to chairman and managing director Lo Yuk-sui.

More... [798 views]

Hope for hotel industry after worst half yearly trading since 1996

UK hotels have suffered their worst first half occupancy and revenue levels since 1996, according to preliminary figures released today by Deloitte & Touche. 

More... [647 views]

HotelBenchmark Survey May 2003 Performance

The HotelBenchmark Summary Report for May 2003 from Deloitte and Touche illustrates the continuation of mixed performance for hotels across Asia Pacific, the Caribbean and Latin America, Europe and the Middle East.

More... [764 views]

Hong Kong arrivals show first signs of recovery

Latest visitor arrival figures for Hong Kong have shown the first signs of recovery, with Mainland China arrivals showing healthy growth. Some 725,236 visitors arrived in June, a 38 percent year-on-year drop but a considerable improvement from the almost 70 percent drop recorded for May.

More... [613 views]

Ritz-Carlton eyes deals in three Asian capitals

The Ritz-Carlton Hotel Company is poised to boost its Asian presence, with announcements expected for projects in three major Asian capital cities by year-end, its president and chief operating officer told TravelWeekly yesterday.

More... [965 views]

Global tourism forecast to pick up

Global tourism is on the road to recovery despite worries over terrorism and SARS, with visitor numbers expected to increase strongly for the foreseeable future, a British research group said Thursday.

More... [818 views]

Asia June 2003: 2003 Trading Conditions Worst Than Post The 1997/8 Financial Crisis

What initially looked like being a promising year for Asian hoteliers has turned out to be exactly the opposite with the industry reporting even poorer performance than post the Asian financial crisis in 1997/8.

More... [638 views]

Millennium & Copthorne H1 losses to reflect SARS impact

Millennium & Copthorne PLC, the hotels group, is expected to report first half losses next Thursday, hit particularly by the impact of SARS on its Asia-Pacific business which accounts for 25 pct of profits.

More... [775 views]

Four Seasons Hotels Inc. reports second quarter 2003 results

Four Seasons Hotels Inc. (TSX Symbol "FSH"; NYSE Symbol "FS") today reported its results for the second quarter ended June 30, 2003. 

More... [840 views]

World's Best Spas

Spas used to be viewed as fat farms frequented by celebrities and bored housewives. Not anymore. The spa industry is growing at an astonishing rate, which shows that spending a day--or a week--at a spa is becoming a commonplace activity. A PricewaterhouseCoopers study produced this year by the Lexington, Ky.-based International Spa Associations shows that in 1999 the U.S. spa industry generated $5 billion in revenue.

More... [1663 views]

Meridien hands over 11 hotels

Troubled hotels firm Le Meridien last night confirmed that 11 of its properties were to be removed from the group by Royal Bank of Scotland, which owns them under a lease-back agreement

More... [1695 views]

Meridien rescue plan puts luxury hotels in jeopardy

Two of London's best known hotels - Grosvenor House and the Waldorf - could be pushed into administration within days if US investment bank Lehman Brothers takes control of the debt-stricken Le Meridien hotel group's international operations.

More... [1296 views]

MKG Consulting envisions a 2% to 4% drop in RevPAR in European corporate-run chain hotels in 2003 versus 2002

During the first semester of 2003, the RevPAR of corporate-run chain hotels in the European Union has been down by 4% versus the first semester of 2002. The drop in the occupancy rates has affected all categories.

More... [641 views]

'Sadly' Hands checks out of Le Meridien

Private equity financier Guy Hands pulled out of the battle for the Le Meridien hotel group yesterday, wishing his rivals "luck" in restructuring the debt-ridden chain.

More... [1096 views]

News @ PATA

For this week's PATA news and update........

More... [688 views]

Italy's national dish was invented by the English

Italians were choking on their espressos last week at the news that lasagne, one of their best-loved dishes, was invented by the English. The provocative claim was made by the organisers of a Gloucestershire medieval festival.

More... [1022 views]

CarlLeaver to take over at De Vere Group

Carl Leaver, the managing director of Travel Inn, is to take over from Paul Dermody as chief executive of De Vere Group. Dermody's impending retirement was announced in May. Leaver will take over on 1 September.

More... [732 views]

Partnerships the way towards recovery

Marriott is focusing on partnerships in his recovery plans, post-SARS, said Geoff Garside, Marriott International’s senior vice president for Australia and Asia/Pacific.

More... [747 views]

Battle of the brands

The hospitality industry has evolved in the last few years to having a few dominant hotel management companies, each with many brands. One of these brand masters is Marriott International – an international hotel company that spreads its 2,600 properties across 67 countries and territories, within 18 hospitality brands.

More... [1073 views]

Signs emerge of pickup in world tourism

World tourism, battered by terrorist-inspired fears of flying, the war in Iraq and the outbeak of the Sars epidemic, may be on the verge of a recovery, industry professionals say. In Singapore there are now "encouraging signs" that tourist arrivals will reach their pre-Sars level early next year, according to the head of the state tourism office Lim Neo Chian.

More... [685 views]

MeriStar Hospitality Corporation Reports Second-Quarter Results

MeriStar Hospitality Corporation (NYSE: MHX), the nation's third largest hotel real estate investment trust (REIT), today announced financial results for the second quarter and six months ended June 30, 2003:

More... [767 views]

Hilton Reports 2003 Second Quarter, Six-Month Results

Hilton Hotels Corporation (NYSE:HLT) reported financial results for the second quarter and six months ended June 30, 2003. Contributing to generally weak quarterly results were the conflict in Iraq, and continuing pressure on average daily room rates (ADR). Margins in the quarter were adversely impacted primarily by lower ADR, along with increased healthcare and other insurance costs. The quarter benefited from a combination of lower depreciation and amortization expense and reduced net interest expense when compared with the 2002 quarter.

More... [682 views]

New MasterIndex of travel forecasts pick up in Asia/Pacific outbound travel in second half of 2003

Asia/Pacific outbound travel is on the rise, led by a significant increase in travelers from China, spearheading the revival of tourism in  the region the second half of 2003. However, the anticipated decline in outbound tourists from Korea, Hong Kong and Singapore will impact the region`s rate of recovery. These are among the key findings of the inaugural MasterIndex of Travel forecast released by MasterCard International and the Pacific Asia Travel Association (PATA).

More... [783 views]

MARKET SNAPSHOT June 2003: 2003 trading conditions worst than post the 1997/8 financial

More... [760 views]

Marriott Will Offer Free Guest Room High Speed

Marriott International, Inc. confirmed that by year-end 2003, it plans to offer free high-speed internet access in the guest rooms of the company's Courtyard, Residence Inn, TownePlace Suites and SpringHill Suites hotels -- more than 1,200 properties. Fairfield Inn will provide free high-speed internet access at over 500 hotels by year-end 2004

More... [760 views]

Hotels in Top Asia-Pacific Destinations Struggle with Discounting Dilemma; Will Additional Discounts Facilitate Faster Recovery?

Hotels in four top Asia-Pacific destinations have been caught on the horns of a major dilemma following a pitch by one of Europe's biggest touroperators for a further 20 percent rate cut to facilitate a fast recovery in traffic from the UK. 

More... [763 views]

HK's Mandarin Oriental blames SARS for swing to net loss

Hotel operator Mandarin Oriental International Ltd. reported Tuesday a net loss of 6.0 million US dollars for the first half to June, down significantly from the 12.0 million US dollar net profit a year earlier, due to low occupancy levels at its hotels following the SARS outbreak.

More... [772 views]

More hotels in operation in Myanmar

There are 537 hotels with nearly 9, 000 staff in operation in Myanmar and 37 more new hotels are under construction, the local Myanmar Times reported.

More... [743 views]

Hotel Insurance Costs – What has happened since 2000? By Nikos Hadjos

Since the September 11, 2001 attacks, insurance has been one of the most talked-about topics within the hard-hit hotel industry. Overall, insurance costs have been drastically increasing during the last three years. In the midst of all this, hoteliers are faced with the challenge of securing and affording adequate insurance coverage within the guidelines of their loan documents.

More... [869 views]

UK Tourism industry bounces back

The British tourism industry has bounced back from the slump caused by the foot and mouth outbreak and fears of terrorism.

More... [727 views]

Singaporean Hotelier Gwee Lian Kheng Awarded the Prestigious “Asia Pacific Hotelier of 2002”

Mr Gwee Lian Kheng, President and Chief Executive Officer of publicly listed company, Hotel Plaza Limited, and also President and CEO of United Overseas Land Limited, was presented with the “Asia Pacific Hotelier of 2002” award at the 6th Asia Pacific Hotel Investment Conference held at the Ritz Carlton Millenia Singapore

More... [839 views]

Gary Thompson Heads Cornell’s Center for Hospitality Research

Gary M. Thompson has been appointed executive director of The Center for Hospitality Research at Cornell University’s School of Hotel Administration, effective July 1, 2003. Thompson is an associate professor at the Hotel School

More... [677 views]

Food & Beverage spending in Asia increases despite SARS

HMC (Hospitality Marketing Concepts), has released its tracking data for hotel loyalty program spending in the Asia Pacific region.     The results of the comparison showed a dramatic jump in F&B spending despite the occurrence of SARS, which was first reported in China during November 2002

More... [728 views]

Hedging Shows Growth

Picture the scene. You are a director of a publicly traded company and you know that your company’s stock price has topped out. Keen to cash out before the share price falls, you are also concerned about the negative impact. After all, your move could easily be construed as lack of confidence in the company. So what do you do? One option that has been gaining in popularity during the past few ‘down’ years of the stock market is known as ‘hedging’.  

More... [592 views]

Hotel Sales at Less than a Dollar

When was the last time you got your money’s worth?  Subscribers to HVS Research Department’s Hotel Transactions Surveys certainly do.  For less than a dollar a sale, the surveys provide detailed information on hotel transactions within the United States.

More... [745 views]

The Importance of Partner Marketing

Whether marketing budgets are hefty or slim, making the biggest bang for your buck is always the right way to think. Having a budget for your advertising, public relations and e-mail efforts simply to place ads – does not allow a hotel to expand its outreach or get the most for its money. But thinking out of the box, and even sometimes, out of the industry, may initiate exciting and unusual opportunities for your hotel.

More... [902 views]

Peninsula Group reports 82pc net profit plunge

Hongkong and Shanghai Hotels (HSH) is seeking legal advice on a potential insurance claim to recoup business losses incurred from the Sars outbreak in Hong Kong

More... [641 views]

Shanghai's hotel industry on upward track

Though the outbreak of SARS caused severe losses for hotel industry in Shanghai, an economic and financial center in China, the industry is facing a rosy future.

More... [791 views]

Hongkong and Shanghai Hotels to continue expansion - CEO

The Hongkong and Shanghai Hotels, Ltd (45.HK) will pursue its target of increasing the number of hotels the company owns and manages to 11-15 in the next five years from nine currently, according to chief executive officers Clement Kwok.

More... [675 views]

Starwood beats target, raises outlook

Starwood Hotels & Resorts Worldwide said Thursday it expected to top Wall Street's profit projection for the year as the industry recovers from the impact of SARS and the war in Iraq.

More... [703 views]

Travel plunge the worst ever, Fairmont says

Fairmont Hotels & Resorts Inc. says its operating profit nose-dived in the second quarter on an "unprecedented" plunge in travel to Canada and warned profit will be lower this year as the SARS outbreak continues to hit bookings.

More... [726 views]