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ehotelier Hospitality News Archives: February 2009
Global Hospitality Newsletter: February 27, 2009
As you may be aware, in our industry dominated by the major hotel chains there is limited research data available for independent hotels. One of the key advantages that the big chains have is their ability to use company wide data along with industry and local statistics to make informed decisions. Owners, operators, lenders, and investors of independent hotels benefit from the data and information we possess and we invite you to make use of.
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This article is for hoteliers who want to create a guest experience that is fresh, completely new, and which reflects some of the unlimited capacity that we all have to create beauty in our lives and in those of the hotel staff and the guests. It is about how to help your staff and yourself experience the kind of happiness that you feel when you are in love, and at the same time make your guests feel happier. The technique is very simple, and it is one of the many ways to use the discoveries about the body's energy field and thought energy to create unknown levels of guest experience. By Peter McAlpine
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What goes on behind the ‘Do Not Disturb' sign? What do people leave behind in hotel rooms? Which hotel bar serves the most expensive cocktail? Which celebrities have been banned from hotels?
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Marriott International, announced today that it has spent $1.9 billion with diverse suppliers over the last five years in the U.S., nearly doubling its goal that was set in 2003. Last year, Marriott set a new record, spending more than $500 million companywide with minority-and woman-owned businesses.
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Accor's operating Profit Before tax and Non-Recurring Items was EUR875 Million, on Target up 13.0% Like-For-Like and Excluding the Impact of the Return to Shareholders, Operating Margin was up 1.0 Point to 29.6% and a solid Balance Sheet: Adjusted FFO/Adjusted net Debt at 25.8%(2)
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Pam Golding Hotels, a member of Pam Golding Hospitality (PGH), recently facilitated a transaction which resulted in the Shamwari Group, with partner Dubai World Africa, being awarded the management and marketing contract for the prestigious The Grande Roche Hotel - a member of Relais & Chateaux - situated in Paarl in the heart of the Cape Winelands.
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The cancellation of a $500-million luxury hotel and condominium project in downtown Vancouver is the latest in a string of troubled developments in Canada's most expensive real estate market which experts say is in a serious slump. By Brenda Bouw
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The fate of the Greenbrier, the financially troubled West Virginia resort with a rich golf history, will be known soon. Gambling could be part of the mix. By Matt Ginella
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Last year was one of the best ever for the Swiss tourism industry. But there are signs that 2009 will suffer from the effects of the global financial crisis.
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Global Hospitality Newsletter: February 26, 2009
How interesting it has been as an industry veteran to see the Internet website emerge as a major distribution channel over the last decade. For years we saw website bookings increase dramatically while reservations call volume declined, leading some to wonder if the hotel of the future would still need a reservations department. We then watched as these trends balanced out as the growth in online bookings has slowed while declining call volume has leveled off. According to most lodging experts, for most full service hotels it's safe to say that there are at least to "lookers" for every "booker" at their website. My personal prediction is that given today's economic conditions and the proliferation of news stories about hotel and travel deals being there for the asking, voice reservations agents will be more important than ever before for revenue optimization as we move ahead. By Doug Kennedy
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The profitability of UK provincial chain hotels decreased by 28.8 per cent in January, according to the latest HotStats survey by TRI Hospitality Consulting. Provincial hotels generated daily profit - expressed as income before fixed charges (IBFC) - of £13.81 per available room compared to £19.40 the same month a year earlier.
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Ramada Jarvis Hotels has signed a global agreement with TravelCLICK, the leader in hotel ecommerce solutions, to implement RateVIEW Enterprise in 38 of its hotels throughout the United Kingdom. RateVIEW Enterprise is the industry's first rate intelligence and management solution designed specifically to meet the needs of multi-property hotel companies. Ramada Jarvis joins a growing list of leading brands and independent hotels worldwide that are leveraging TravelCLICK's business intelligence tools to improve decision-making, expedite competitive response time, and enhance cross-portfolio efficiencies.
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This year we analyzed CEO compensation for 53 public restaurant firms. Based on our pay-for-performance model, the top performer was Joel A. Schwartz of Benihana Inc. By Daniel Cline and Keith Kefgen
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The U.S. hotel industry posted declines in the three key performance measurements during the month of January, according to data from STR.
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Having made a name for himself as a developer, Avi Brosh found a hole to fill in hospitality, responding with his hyper-cool West Hollywood hotel Palihouse and succeeding where none had before in making LAX-adjacent Westchester hop with his Custom Hotel. This creative spirit expands on his years of hard work, present trials and travels, and dreams for the future. By Hadley Tomicki
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HBA/Hirsch Bedner Associates, designers of the prestigious new Fairmont Peace Hotel in Shanghai, are set to revive a second landmark heritage property on the city's iconic Bund waterfront. The world's leading hospitality design consultancy has been appointed by Hilton Hotels Corporation to transform the former Shanghai Club at No. 2 The Bund into the Waldorf Astoria On The Bund Shanghai.
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survey reveals ‘set and forget’ inventory management system is number one on the industry’s wish list
A recently completed global survey of thousands of individual properties and resellers by Allotz.com clearly shows the industry is hungry for a genuine solution to inventory management.
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Speaking on behalf of a coalition of tourism and business groups, three of Michigan's leading travel and resort industry executives are calling for a portion of the $18 billion federal stimulus funds to be received by Michigan to go towards a multi-year funding package to promote state tourism.
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Global Hospitality Newsletter: February 25, 2009
Hoteliers throughout the world are unanimously expecting declines in business performance for 2009 according to the Horwath HTL Global Hotel Market Sentiment Survey. In the face of the global economic downturn, it is not surprising the results of Horwath HTL's survey indicate a tough year ahead in 2009. The survey ranked the global economic situation as the number one factor negatively influencing the market, followed by global stock market trends, and local economic trends.
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HVS shares tips for effective revenue management techniques as hotels ride the 2009 economic wave. Try to stay afloat; capture market share; be ready when the upswing returns. By Leora Lanz and Eydie Shapiro and Barbara Fischhof
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When analyzing the financial performance of U.S. hotels, a question we always ask is, "Have we seen this before?" At PKF Hospitality Research (PKF-HR) we have the benefit of reaching into our propriety Trends in the Hotel Industry database that contains detailed revenue, expense, and profit data from 1937 through present. Considering the lack of clarity, and resulting volatility, in the financial markets entering 2009, we thought it would be informative to examine the behavior of U.S. hotels during past periods of economic turmoil.
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Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT), the largest international upscale hotel operator in China with 47 existing properties, announces the addition of five new hotels to its growing portfolio. The new signings include the first St. Regis resort in Sanya; the first St. Regis hotel in Chengdu, Sichuan; the first Sheraton hotels in Jiangyin and Dalian; and a second Sheraton resort in Huizhou, Guangdong.
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Onno Poortier, President of The Leela Palaces, Hotels & Resorts, has been honoured by The American Academy of Hospitality Services (AAHS) Five Star Diamond Award as "one of the finest corporate hoteliers worldwide".
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The Window Seat Bloggers now offer expert travel advice to readers seeking personalized trip planning tips.
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Pan Pacific Hotels and Resorts is pleased to announce the appointment of Steve Halliday as Executive Vice President, Development for North America, effective immediately. In this new role, Steve will focus on hotel acquisitions and procurement of management contracts to drive the development for Pan Pacific in gaining a significant brand presence in the North America region.
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Sol Meliá is proud to announce that Dani García has been awarded the National Gastronomy Prize given each year by the Royal Academy of Gastronomy. Dani was given the news by Rafael Ansón, president of the Academy, who phoned him in Miami, where Dani prepared a course at a dinner held last night that forms part of the Southern Wine & Spirits Festival. At the dinner Dani will produce his renowned cherry gazpacho for, among others, the King and Queen of Spain, guests of honour.
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The Business Partnership program was set up to build mutually beneficial relationships with businesses that offer specialist expertise which can benefit the industry and the Institute's network of members. Business Partners are able to offer expert advice and support to Institute initiatives, whereby members and clients can benefit from dedicated management guides, online information updates, as well as seminars, conferences and other focused events.
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Global Hospitality Newsletter: February 24, 2009
From the standpoint of productivity, more sales calls can be made at a meeting, conference or trade show in two days than in the same amount of time on the street knocking on doors. Selecting the show or conference to attend is easy to do once you have targeted the markets you wish to reach and have completed a marketing plan. By Dr. John Hogan
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Dr. Russell Arthur Smith has been appointed Interim Dean for the Cornell Nanyang Institute of Hospitality Management (CNI). For the past four years he has served as the Vice Dean for CNI and was a member of the original Nanyang Technological University's (NTU) negotiating team, appointed to establish the CNI, in collaboration with Cornell University. The institute hopes to recruit a permanent Dean by 2010.
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Marketing and promoting online has become an organic process - less to do with technical systems and more to do with the people that see it. As a hotel, you are no different: you need people to link to your hotel's website or blog to create more awareness about your hotel and its brand.
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The U.S. hotel industry posted declines in all three key performance metrics during the week of 8-14 February 2009, according to data from STR.
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Malcolm Linforth-Jones, manager of Hotel Indigo London Paddington, InterContinental Hotel Group's first boutique brand property in Europe, traces the arrival of this unusual property in the UK. By Stanley Slaughter
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TRI Hospitality Consulting was named the hotel industry's preferred advisor for the second year running at last night's Hotel Report Awards in London. Katherine Doggrell, editor of Hotel Report, said: "To win one year is commendable, but two years in a row amounts to a ringing endorsement. Voters commented on HotStats full profit & loss capability as being a particularly powerful benchmarking tool in the current economic climate."
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As the global economy continues to fluctuate, more than ever, hospitality professionals are being forced to search for new revenue generating ideas. One way to increase your revenue is to recognize the untapped revenue that can stem from new international target market groups. Targeting new international markets can help you gain market share over your competitors. Here are a few steps you can take to help boost your online marketing efforts and expand your target market:
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Pineapple Hospitality offers tips and resources to make your corporate event stages more environmentally friendly. By Ray Burger
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Days Inns - Canada recently presented a total of 33 awards to its top hotels and staff at the Days Inns Worldwide Conference in Orlando, Florida. The prominent Awards of Recognition are presented annually paying tribute to the leading Days Inns across Canada.
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Global Hospitality Newsletter: February 23, 2009
A system that was originally created to set some standardized expectations for the hospitality industry and inform and educate the consumer has now mutated into one that does exactly the opposite. While Mobil will proffer its Star system and AAA will offer the comfort of the Diamonds, the truth of the matter is that it's the wild, wild west out there. Any property with an overeager public relations firm and an on-call poolside perspiration valet can stake a claim to star-driven fabulousness. By Rob Rush
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It is always great to get the global perspective from Mark Woodworth of PKF Consulting and Mark Lomanno of STR, but that is only one perspective. Here is what the hospitality attorneys of JMBM's Global Hospitality Group® are hearing from "the field" in real time . . . By Jim Butler
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One of the hotel industry's leading executives and pioneers for the current international hotel development boom in China has been appointed the new chief operating officer for IHG (InterContinental Hotels Group) in Australia, New Zealand and South Pacific (ANZSP).
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The vacation rental marketplace equals approximately 22% of hotel room revenue. Although vacation rentals and hotel rooms are not always in direct competition for leisure travelers, the hotel leisure guest certainly represents a potentially vast target market for the vacation rental industry. PhoCusWright's Vacation Rental Marketplace: Poised for Change reviews the challenges that must be overcome if the vacation rental industry is going to compete for the leisure traveler.
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Opodo.co.uk finds long-haul is hot as Brits fly further afield this summer. Year-on-year southern hemisphere destinations are up, whereas last year we were flocking to the US. And city breaks are suffering, except outside the Eurozone.
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TMS Asia-Pacific CEO Andrew Chan is confident the Gen Y demographic will emerge in much better shape than any of their predecessors when the current economic environment finally begins to improve.
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Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) today announced plans to open W Paris-Opéra in 2011, marking the debut of W Hotels Worldwide in France. Located in the chic and bustling Opéra area of Paris, amid lively cafés, contemporary designer boutiques, and buzzing restaurants and nightlife destinations, W Paris-Opéra will occupy an elegant 1870s Haussmann era building, close to the Galleries Lafayette and Place Vendome in an area where Paris earned its praise as the "City of Lights."
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On Tuesday 3rd March, Peter Lederer CBE FIH, President of the Institute of Hospitality and Chairman of Gleneagles, will perform the official launch ceremony for the new Institute of Hospitality Scotland in the Business Seminar Theatre during ScotHot.
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Crowne Plaza Alice Springs has today set the benchmark for Australia's business sector and hotel industry when it switched on the largest building mounted solar photovoltaic (PV) system in the Southern Hemisphere and began its $50,000 in-house energy efficiency program.
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Global Hospitality Newsletter: February 20, 2009
This may be time for each of us to reconsider how to take service to a higher level. In his inaugural address, President Obama urged a new era of responsibility and that we need to give our all to the difficult tasks ahead. Many of the ideas and values he expressed can be useful reminders and analogies to welcome guests into the "Promised Land" of hospitality. By Roberta Nedry
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The World Travel & Tourism Council (WTTC) today issued an official statement setting out the vision and commitment of Travel & Tourism industry leaders to tackle Climate Change.
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We are all in a panic to get this "crisis" over. It can't happen too soon. We are resolved to pay "whatever it takes" to do it, but up to this point, our leaders have not given us any detail to show us what they are thinking or whether any of it will work. But with people beginning to look at the German mark as the replacement for the dollar, we have to wonder a bit about our direction. By Jim Butler
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Award-winning tourism management research from the University of Brighton's School of Service Management has helped Grand Breaks - a leading UK holiday specialist for grandparents and their grandchildren - reinforce its belief that the ‘baby boomer' generation of grandparents refuse to act their age.
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Hotusa Hotels has enlarged its portfolio during the month of January with the addition of 32 new associated hotels. Of these 32 newly added hotels, ten form part of the international network while the remaining 22 are spread over Spanish soil.
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Sol Meliá, the 15th-largest hotel chain in the world and the leading Spanish hotel and resort company, has selected LRA Worldwide to assist with elements of its Strategic Plan presented to investors in Madrid last year. LRA, a pioneer in the consulting discipline of Customer Experience Management, is working with Sol Meliá on the "brand equity" pillar of the plan, helping the company further define each brand offering and how that offering is delivered at the property level.
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Wotif.com Holdings Limited today announced a record half-year profit of $20.6 million. This 21% increase was driven by continuing strong performance by wotif.com, Australasia's leading accommodation website, and positive contributions from the travel.com.au Limited and Asia Web Direct businesses acquired in 2008.
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Airlines admit that in the light of recent changes in the industry, managing the diversity of distribution channels has become a tough balancing act. Cost structures are tightening and it has become quite difficult for airlines to simply distribute commissions and rewards for services delivered by partners. By Reece Gladstone
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Bintan Resorts announced today that it saw a significant increase in visitor arrivals for the year ending 31st December 2008. The destination saw a total of 397,833 visitor arrivals in 2008, representing a 19.2% increase from the 333,771 visitors in 2007. This significantly higher than expected result is an encouraging sign in the midst of the current economic downturn.
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Global Hospitality Newsletter: February 19, 2009
Every sector of business, including hospitality, faces momentous challenges stemming from the global recession. Occupancy is suffering, and all indications are that the deterioration will persist for quite some time. The latest Blue Chip Economic Indicators Report, a composite forecast of 52 economists, projects the worst recession since World War II with an upturn not beginning until late 2009. Some predict it may take longer. By Madigan Pratt
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Congress approves landmark Stimulus Plan. What is the bailout plan? Hotel Lawyers insights on what Geithner has in mind.
Hotel Lawyers on the Bank Bailout bill and implications for the hotel industry. With Senate approval late Friday night, Congress has now approved the bailout bill. President Obama's approval is a foregone conclusion. But the details of the bailout plan still worry businesses around the country. By Jim Butler
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TravelCLICK, the leader in hotel ecommerce solutions, announced today that it is entering into a strategic agreement with Google to become an authorized reseller of Google's AdWordsTM online advertising program. AdWords is designed to help businesses of all sizes leverage the power of the web to find new customers. It delivers relevant ads when users search for specific products and services, such as hotels or resorts.
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The Kuala Lumpur Convention Centre recorded a remarkable 51 percent growth in the number of conventions in 2008, from 22 in 2007 to 45 in 2008, the highest so far since the Centre's opening in 2005.
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UK chain hotels are facing the most challenging trading conditions in 17 years according to forecasts made by TRI Hospitality Consulting. The hotel advisory firm's central scenario predicts that London will experience a 10 per cent drop in room revenue (RevPAR) this year followed by a further 0.5 per cent dip in
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A great deal of the Manager's success at motivating people and at building moral in an operation depends on the opportunity offered to the Line Staff for promotion and advancement. The Line Staff works better and happier if they are improving their skills, learning new ones and advancing in the organization. In addition to the obvious benefits of well-motivated and contented staff, training programs provide the operation with the precise skills they need. By Nasir Zahir
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Commenting on the results, Andrew Cosslett, Chief Executive of InterContinental Hotels Group PLC said: "We produced good results in 2008 and comfortably exceeded our three year target to add 50,000 to 60,000 net rooms by the end of 2008 - adding over 82,000 rooms. We opened 20% more rooms than in 2007 and signed almost 100,000 rooms into our pipeline.
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Raffles Hotels & Resorts announced today that it will manage a new resort in Taghazout, Morocco. The resort, owned by global real estate investment firm Colony Capital, will be located along the pristine Atlantic coast north of Agadir.
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On Thursday 12 February, a gathering of ‘up and coming' hotel managers joined Rydges Hotels & Resorts in locations throughout Queensland locations as Corporate Cadets of the company's Graduate Program. The eight Queensland based Cadets started their career rolling, by participating in a two day induction conference at Rydges Esplanade Resort, Cairns on Thursday 12 and Friday 13 February, 2009.
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Global Hospitality Newsletter: February 18, 2009
Today, more than ever before, hotels need the exposure and marketing power that only the Internet can provide from a cost-effectiveness standpoint. Your website may look great, but can Internet searchers find it through generic search? By Neil Salerno
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Here's a peek at the hotel guest experience in the near future. With mobile phones becoming an increasingly important marketing and CRM channel, improving technology and awareness will soon allow hotel marketers to enhance the hotel guest interaction, in a very similar way to what's described below... By Jitendra Jain
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The U.S. hotel development pipeline includes 5,494 hotels with 590,207 rooms, according to the January 2009 STR/TWR/Dodge Construction Pipeline Report released last week. This represents a 3.7-percent decrease in the number of rooms in the pipeline over December 2008 and a 7.3-percent decrease in the number of rooms in the pipeline over January 2008.
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Marriott International (NYSE:MAR) will officially celebrate its 20th anniversary in Asia on February 27 with plans to expand its existing portfolio of 109 hotels by a further 57 properties offering 15,510 rooms over the next 48 months. This significant growth will also create more than 15,000 new jobs in the hospitality sector across Asia.
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IDeaS Revenue Optimization, the leading provider of revenue management and optimization solutions and services and SAS, the leader in business analytics, jointly announced today that a unique hospitality education seminar will occur in Singapore on Thursday 5th March.
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There is a reason some online travel sites can offer cheap hotel rooms: State and local governments contend that the sites are not paying all of their taxes. And faced with fast-shrinking budgets, those governments want the online travel services like Expedia Inc., Priceline, Orbitz and Travelocity to hand over what could amount to tens of millions of dollars. By Jonathan D. Glater
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Starwood Hotels & Resorts Worldwide announced the appointment of Eva Ziegler as Global Brand Leader for W Hotels Worldwide. In her new role, Vienna-born Ziegler will be responsible for leading the global development and growth strategy for the innovative and category-busting W Hotels Worldwide. With 10 years of proven success, largely in North America, W Hotels will triple its footprint by 2011.
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Carlos C. Lopes and L. K. Eric Prevette, who partnered for 20 years to manage luxury hotels under brands including RockResorts and Rosewood Hotels, along with Terry Petty, who served as executive vice president of Marriott International, have recently joined together to launch Unique Hotels. Unique Hotels will make investments in hotel properties across the country and provide advisory services in the areas of hotel acquisitions, development, asset management, operations, and marketing.
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Global Hotel Alliance (GHA) held its first CEO meeting in India at the Leela Palace Bangalore in January. The CEOs of its ten member brands gathered for their bi-annual meeting to make plans for what they all expect to be a tough year for the hotel industry across the globe.
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Global Hospitality Newsletter: February 17, 2009
The housekeeping department in a hotel typically has the largest number of staff in most hotels, but it the engineering team that has responsibility for maintaining and operating the ENTIRE facility. Whether it is a 25 rooms-only property, a 5 star luxury resort or a 3,000 room convention/casino hotel, it falls to the Chief Engineer to ensure the facility is comfortable, safe and efficient. By Dr. John Hogan
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Yeoh Siew Hoon draws a few conclusions from the conversations she's been having with industry leaders.
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The utility data management system offered by HVS Eco Services allows hotel and restaurant operators to significantly reduce accounting costs and utility consumption, and accurately document environmental performance. By John Scaggs
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As the prevailing economic conditions put strong downward pressure on hotel demand in the UK, hotel performance in 2009 is likely to be even worse than expected because of a sharp rise in the number of new hotel rooms over the past year.
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It's time to 'go for gold' with the PATA Gold Awards 2009. Travel and tourism industry stakeholders who have made outstanding contributions to develop and promote travel and tourism across the Asia Pacific region in a responsible manner may now submit entries.
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Never shy to take a leadership stance on issues affecting the planet and the hospitality industry, Fairmont Hotels & Resorts is pleased to confirm its participation in Earth Hour 2009, a global environmental awareness event organized by the World Wildlife Fund (WWF). On Saturday March 28, 2009 at 8:30 p.m.
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Chef-instructor leads students in the intricacies and delicacies of putting on FIU's famed South Beach Wine & Food Festival
When FIU chef-instructor Michael Moran puts on a party, he wants only the best at his side. Take the high-profile South Beach Wine & Food Festival, the wildly popular, FIU-co-sponsored event that takes place from Feb. 19-22, 2009. As chef and culinary coordinator he'll rub elbows with some of the biggest names in the industry, among them Food Network chefs Emeril Lagasse and Bobby Flay. It's his own students, however, that Moran considers critical to success.
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The Days Inn® brand made it clear to hotel owners attending the chain's worldwide conference here today that it continues to be ‘The Best Value Under the Sun' by providing them with resources that will help enhance the guest experience and encourage travelers to stay at Days Inn properties.
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Design HotelsTM and member group, Firmdale Hotels, celebrate Kit Kemp's success at the Andrew Martin Design Awards. The renowned interior designer and co-founder of Firmdale Hotels recently won the coveted International Interior Designer of the Year award. Chosen by a celebrity panel including Thandie Newton, Twiggy and GQ Editor Dylan Jones, Kit Kemp was chosen for her distinctive interpretation of a quintessentially English style. Previous winners include Kelly Hoppen, Andrew Falcke, Jamie Drake, Tara Bernerd and Michael Reeves. The Andrew Martin Awards were set up in 1996 in order to discover and celebrate the talents of the world's best designers.
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Global Hospitality Newsletter: February 16, 2009
Despite economic turbulence worldwide, the Asia Pacific tourism industry has received a welcome boost from data contained in the Visa and the Pacific Asia Travel Association (PATA) Asia Pacific Travel Intentions Survey ‘Determining Travel Preferences in 2009 and Beyond'1.
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The U.S. hotel industry posted declines in all three key performance metrics during the week of 1-7 February 2009, according to data from STR.
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There is no question that the Internet is now a mainstream medium. eMarketer estimates the US Internet population will grow to nearly 200 million users this year. By 2013, some 221 million people will be online.
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The volume of business catering in Germany, France and UK is still increasing.
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Any marketer will attest that success rests in consistently giving customers what they want. Following this philosophy for the past 25 years has enabled Marriott International's Courtyard by Marriott power brand to reach its 800th-hotel milestone, becoming the world's 12th largest hotel brand with locations in 28 countries.
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A report has indicated that executives will make fewer, shorter and cheaper business trips in 2009 and switch from luxury extras in favour of basic efficiency and good service.
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Way back in September of 2001, I was called into the offices of a meeting production company. The situation was serious. One of their clients, a large professional services firm, had just called to cancel a multi-million-dollar meeting in the aftermath of the events of 9/11. This was a huge piece of business. The progressive production company decided that it would respond not by simply saying "Okay," but rather by offering a realistic, cost- effective, and safe alternative to canceling the meeting. By Mary Boone
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HotelsCombined.com announced today their new extended partnership with Expedia, Inc. covering 4 key markets in the Asia Pacific region: Australia, New Zealand, Japan and India.
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Global Hospitality Newsletter: February 13, 2009
It's possible to start a campaign with just $50 - though raising this will accelerate testing and help you get a better feel of the market. You don't need to invest huge amounts of money up front. By Josiah Mackenzie
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Latest insights from JMBM's Hotel Attorneys and PKF Consulting on what lies ahead for the hotel industry . . .
Hotel Lawyers with the pulse of the hotel industry from ALIS. Mark Woodworth of PKF Consulting shared his latest analysis of the hotel industry with us, as well as his slides from the ALIS conference. The picture is not pretty. Mark says, that if you're waiting for the recovery, the key word is "PROTRACTED." Here are the details.
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Managing restaurant capacity effectively includes making sure that the dining room is equipped with sufficient tables of the appropriate size and type to meet expected demand. Restaurateurs usually make a point of seating parties at the right-size table to maximize seat utilization, and some restaurants set tables fairly close together to make the best use of the available floor space. We examined whether providing guests at a full-service restaurant in New York City with extra personal space improved their satisfaction and meant increased spending or longer lengths of stay. By: Stephani K. A. Robson and Sheryl E. Kimes Ph.D
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STR Global today released preliminary UK hotel data that shows hotels throughout the kingdom experienced difficult operating environments for the month. The daily performance data is broken down by major city and market segments. The STR Global Weekly Performance Monitor includes data for the whole of January 2009 looking at year-on-year performance in the industry's key indicators of rate, occupancy and revenue per available room.
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The Swiss Hotel Association (SHA) says politicians and hoteliers must fight costs that affect Switzerland's competitiveness as a tourist destination. At a news conference in Bern on Monday, the association admitted that prices were higher than in neighbouring countries and put forward a number of measures to maintain the country's attractiveness. By Robert Brookes
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Global hospitality leader, Fairmont Hotels & Resorts, has further expanded its global footprint by introducing the company's collection of distinctive hotels and worldwide reputation for excellence to the Asia Pacific region.
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In a welcome New Year announcement Sven P Gade, Director and Head of Consulting at PKF The Consulting House - Dubai, has been elected a Fellow of the highly acclaimed Institute of Hospitality (formerly HCIMA).
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Deloitte, the business advisory firm, confirms a five-year run of double-digit revenue per available room (revPAR) growth for hotels in the Middle East. This growth was buoyed by strong hotel performance at the beginning of 2008. Growth started to decelerate in September and dipped into the red during the month of December - down 3.2%.
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Underpinned by recent profitability tests and trading forecasts, planned hotel projects are unlikely to meet future viability tests until the market improves. According to Jones Lang LaSalle Hotels' most recent Australian Hotel Development Register, across the ten major markets of Australia, the number of tourist accommodation rooms under construction or proposed has contracted since March 2008 due to the global financial crisis.
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Global Hospitality Newsletter: February 12, 2009
Five-star leaders share many of the same qualities. One such quality is to believe that their team CAN be great. If they are not great, they ask themselves if the employees are incapable of being great; or if the leaders' low expectations are inhibiting the employees' potential to be great. Yes, low expectations promote average and low performance, while high expectations promote high performance. By Bryan K. Williams
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In preparing these columns, I have added consulting and training insights to examples shared with me by professionals in those positions to provide these capsulated snapshots. This particular column onHOTEL BANQUET MANAGERS addresses a very important component of many full service hotels and is the first of eight topics planned for 2009 columns. Banquets are important to the profitability and reputation of many hotels and important to the individuals who have elected to host a group event in an organized banquet. By Dr. John Hogan
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Deloitte, the business advisory firm, has found that 2008 was a year of two halves for hoteliers across the UK. October marked the last month of hotel performance growth, up 1.4 percent on the prior year. However, it was only a matter of time before hoteliers began to feel the effects of both consumers and corporations reducing their travel budgets.
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On the evening of 9th February there was a fire at the construction site of Mandarin Oriental, Beijing, which was scheduled to open in the second half of 2009.
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His Highness Shaikh Ahmed Bin Saeed Al Maktoum, President, Dubai Civil Aviation Authority and Chairman and Chief Executive, Emirates Airline and Group has confirmed his ongoing patronage of the fifth Arabian Hotel Investment Conference (AHIC), according to the conference management.
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Choice Hotels International, Inc. (NYSE: CHH) continues to grow with the announcement of 44 newly-opened franchised properties during the month of January. The openings include hotels in 23 states and 8 countries, adding more than 3,700 rooms to the company's existing 470,000-plus rooms. Select properties that opened in January include:
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A major mid-sized hotel management company today announced it had taken a new name to reflect its growth over the past five years and a broader range of services. Maryland-based Marshall Management is now Marshall Hotels & Resorts, Inc. In addition, the company announced that it has moved to new, larger headquarters in Salisbury, Maryland.
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Cushman & Wakefield Sonnenblick Goldman's U.S. Hotel Group has successfully arranged the refinancing of the 415-room Fairmont Washington, D.C. A German bank provided the loan on behalf of the hotel's owners, Cadbridge Investors, LP.
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The Talbott Hotel has partnered with The Almond Board of California to provide heart-healthy almond snacks to the hotel's busy travelers this February, in recognition of National Heart Health Month. In addition, guests of The Talbott, who have complimentary access to the adjacent 55,000 sq ft Equinox Fitness Center, will have the ability to receive a training consultation from one of the experienced instructors as to how to maximize their healthy lifestyle while away from home.
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Global Hospitality Newsletter: February 11, 2009
The ALIS conference this year was as glum as I can recall. You would have to go back to 1991 and 1992 at the old UCLA and NYU conferences to find a similar mood. Compared to the record attendance of more than 3,200 at last year's ALIS conference, the attendance of 1,700 was a good showing, but obviously reflected a lot of cutbacks. By Jim Butler
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I think that there is a growing swell of hoteliers who feel that the typical guest service experience that hotels provide is in a rut and going nowhere. This is especially true of the service experience that the international chains clone. It does not have to be like this, but change will only start to come when hoteliers incorporate the findings of new science and abandon the obsolete Newtonian science upon which training programmes have been based for decades. Conservative corporate offices will no doubt choose to dismiss the discoveries as they invalidate their traditional approaches, but many hoteliers in the swell will see them as an opportunity to create unknown levels of guest experience that the chains can only dream of. By Peter McAlpine
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One thing is certain in today's uncertain economy: the companies that will thrive are not those that pull back on marketing. The successful companies will be those doing more with less-making sure every marketing dollar is working for them. In a recessionary climate, marketing dollars are best spent on measurable solutions that deliver customized messages and make an emotional connection with buyers.
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Frank Fiskers, Scandic's President and CEO, comments on the results for the full year 2008: "I am very happy to report such a reassuring sales increase for 2008. It is always tough comparing revenue figures with record highs, and 2007 really was a record year for Scandic. However, we still managed to continue the positive trend during the first half of 2008, although autumn was naturally weaker. Revenue per available room, which is the combined figure for occupancy and room rate, reached its highest level during the first six months, before dropping back in the autumn.
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Car rental comparison site Oodles.com firmly believes that setting a strategy that weans a business off Google is vital if a company is going to build a brand and drastically increase its conversion rates.
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While the global economic slowdown continues, South Africa's hospitality industry remains upbeat with ongoing positive growth reflected in the hotel market, and with major global operators clamouring to gain a presence, says Joop Demes, CEO of Pam Golding Hospitality.
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Amadeus, a leading provider of technology to the travel and tourism industry, is today launching a report commissioned from the Economist Intelligence Unit, into the effect of the economic downturn on executives' choice of hotel. Titled, "The Austere traveller - the effect of corporate cutbacks on hotels", the report finds that executives will make fewer, shorter and cheaper business trips in 2009 and prefer basic efficiency and good service over ancillary services. Fully one-fifth of the 354 executives who responded to the survey in Asia, Europe and North America thought an internet connection was more critical than a quiet room.
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With a long standing reputation as the best of the best, Claridge's is proud of its heritage and traditions of exceptional standards. Now in its eighth year, the Claridge's Masterclass programme has been expanded for 2009, sharing the secrets and skills of its own cooking team as well as renowned international chefs and guests experts.
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Australia's hotel industry is offering support for victims of the bushfires that have devastated Victoria.
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Global Hospitality Newsletter: February 10, 2009
The global economic slowdown continues to have an impact on the hotel industry, as the world's four regions reported mixed year-over-year and year-end results when reported in U.S. dollars, euros and British pounds for December 2008 and year-end 2008, respectively, according to data compiled by STR Global.
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Brian McGuinness, Starwood's senior vice president, aloft hotels, talks about the new style hotel which is due to open in Europe. By Tom Otley
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In a recent BBC HardTalk interview, a question was asked of an Indian sports personality as to what was the one thing he had learnt from his career in sports. His answer? "Losing." In sports, he said, there were more losers than winners and it had taught him to lose gracefully. By Yeoh Siew Hoon
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wow.travel (the online magazine of kiwicollection.com) edited by Mary Gostelow, introduces Seven Sensational Hotels for Weddings.
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Hotel lawyer in Beverly Hills at the ULI "Reinventing Retail and Mixed-Use" program, the Beverly Hilton, Beverly Hills, California, February 4-5, 2009. The Urban Land Institute's big retail conference is underway and one of the lead off panels had some great information about why hotels are being added to retail mixed-use projects. By Jim Butler
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The Hongkong and Shanghai Hotels, Limited (HSH) and Qatari Diar Real Estate Investment Company (Qatari Diar) announced today that negotiations have been concluded and formal sets of agreements have been signed for the purchase by HSH of a 20% interest in a subsidiary of Qatari Diar which owns the building that currently houses the Centre International de Conferences on Avenue Kleber, Paris, France for a total cash consideration of approximately Euro 100 million (approximately HK$1,024 million). HSH and Qatari Diar have agreed to re-develop this building into The Peninsula Paris hotel, upon completion of which the hotel and ancillary facilities will be managed by a subsidiary of HSH for a period of 30 years with an automatic renewal of a further 20 years, subject to meeting certain performance criteria.
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At a time when many hospitality companies are facing difficult decisions in regards to reducing their personnel costs, HVS Executive Search looks at the various options available and gets some expert advice. By Christian Anklin
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Leader in online channel management technologies, Rate Tiger has launched enhanced versions of its channel management products to help hoteliers fight the economic slowdown.
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The Rezidor Hotel Group, one of the fastest growing hotel companies worldwide, has published its Climate Analysis 2008 and reports an excellent group-wide Employee Satisfaction Score of 85.1%. "We are extremely pleased that we were able to maintain the result of 2007 - despite a tough and economically unstable year our score stands tall and proves our effective people management and development", comments Beathe-Jeanette Lunde, Senior Vice President of People Development & Radisson Blu Franchise Operations at Rezidor. The analysis also shows a very good Loyalty Score of the Rezidor employees towards their company which went up from 72 to 75.
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Global spotlight falls on Fiji as tourism industry embarks on the road to ‘multi million dollar’ status
Backed by an increase in funding and with the full support of the government, Tourism Fiji has today officially embarked on the course that is expected to see the country's tourism industry evolve into a ‘multi-million dollar' operation welcoming more than 630,000 visitors annually within the next three years.
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As a pioneering voice on environmental stewardship within the hospitality industry, Fairmont Hotels & Resorts is proud to announce an extension of its brandwide Green Cuisine program to include sustainable seafood choices in support of a global effort to conserve precious marine species.
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In times of climate change it is increasingly important for hotels to adjust to changing environmental demands. The Steigenberger Hotel Berlin is fully aware of its responsibilities and is playing its part in protecting the environment and reducing carbon dioxide emissions. It is also the first corporate hotel in Germany to offer certified carbon neutral meetings.
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Global Hospitality Newsletter: February 9, 2009
The U.S. hotel industry posted declines in all three key performance metrics during the week of 25-31 January 2009, according to data from STR.
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Global Hospitality Newsletter: February 6, 2009
During the last ten years the European tourism market has experienced several severe highs and lows. The year 2000 brought an exceptional boom in overnight stays, whereas the burst of the new economy bubble and the terrorist attacks on the World Trade Centre in America shortly afterwards were the worst exogenous shocks to have a sudden effect on the industry since World War II. Nevertheless, although hotels in different locations recorded a decline in demand for overnight stays after these events, most of them only did so for a limited time. After "9/11", American guests in particular tended to refrain from visiting European destinations, all the more so because of the unattractive exchange rate between the Dollar and Euro. However, this deficit in demand was compensated quite soon as a result of travel within Europe and from the Middle and Far East. By Matthias Lowin
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Chief eBusiness Strategist Max Starkov of Hospitality eBusiness Strategies (HeBS), the leading Internet marketing firm for the hospitality industry, will speak at the EyeforTravel Conference: CRM & Loyalty Strategies for Travel in Atlanta this March. The two day conference in March will investigate how CRM can boost sales, build long term customer loyalty and deliver exceptional bottom line results.
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Fully booked! In 2009 ITB Berlin will provide impressive confirmation of its significance as the global travel industry's leading trade show. From March 11-15, 2009, the fair management is expecting some 11,000 exhibiting companies and organizations from more than 180 countries in the 26 halls on the Berlin Exhibition Grounds. Despite the difficult economic situation around the world, in 2009 demand still exceeds supply. Messe Berlin is expecting even larger numbers of international trade visitors at the ITB Berlin Convention, the world's largest meeting of this kind, which is taking place at the same time.
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The Australian hotel investment market has not been immune to the turmoil in global financial markets, with new CBRE research indicating that hotel yields eased by at least 50 basis points - and in some cases by more than 100 basis points - in 2008.
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Over the years, `Rate Parity' and `Best Rate Guarantee' have contributed to the commoditisation of the hotel product. Considering the fact that there can be several avenues for customers to avail offers related to the "lowest" price, how can hoteliers partner with OTAs to create a value proposition?
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Applications for Electrolux Appetite for Excellence, the ultimate national competition for young hospitality professionals, open on 2 February 2009. The new season brings exciting news for the program as it welcomes a new naming rights partner, Electrolux, and the introduction of a new category for promising restaurant entrepreneurs, the Electrolux Young Restaurateur award.
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With development a key priority for Hilton Hotels, the company has appointed Elie Younes as Vice President of Development, and Carlos Khneisser as Director of Development for the Middle East, based in the Dubai Internet City Area office. The region, in particular the six Gulf countries, have been identified as Hilton's top global development markets.
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Mövenpick Hotels & Resorts are expanding their portfolio in Jordan: having been represented in the kingdom with four hotels for many years, the international hotel group has now signed a management agreement for a new holiday resort with 456 rooms and suites at Tala Bay in Aqaba. Construction work on Mövenpick Resort Tala Bay is completed which means the resort will open in summer this year.
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Global Hospitality Newsletter: February 5, 2009
France registers a 1.9% growth in Revenue per Available Room (RevPAR) for 2008, indeed a positive result compared to 2007's exceptional performance, which was driven by the Rugby World Cup, Paris Air Show and other major exhibitions. 2008's good result was mainly sustained by the first semester. RevPAR evolution during the second semester declined and ended negatively, suggesting that 2009 will be a difficult year. MKG Hospitality estimates RevPAR should decrease by 6% to 9% over 2009.
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The Economic Stimulus Package that is almost certain to pass in mid February contains extensive opportunities for hotel sales departments to stimulate revenue in a year when leading industry analysts are predicting that "... a 2.5 percent fall off in demand, combined with a 2.9 percent increase in supply, will result in a 2009 year-end occupancy level of 57.6 percent. This represents a 5.3 percent decline in occupancy." (PKF, December 9, 2008). By Carol Verret
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The World Travel & Tourism Council (WTTC) announced the 12 finalists for the 2009 Tourism for Tomorrow Awards. Under WTTC's stewardship since 2003, the prestigious Awards recognise best practices in sustainable tourism in four different categories - Destination Stewardship, Conservation, Community Benefit and Global Tourism Business. A record number of entries were received this year from over 40 countries and six continents.
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We are delighted to be able to present this incredible panel for our next luncheon program. Given the "new reality of uncertainty", each of these highly sought after experts will present views from their perspectives on three important components: Economics, Revenue Management & Distribution.
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Amadeus, a leading global technology and distribution partner to the travel industry, and travel research authority PhoCusWright today unveiled a report that sheds light for the first time on corporate travel in the world's fastest growing economy. Entitled Corporate Travel Management and Practices in China, the report, which is based on interviews with 112 corporate executives in China, paints a picture of the huge opportunities available for the travel and tourism industry in the market. At the same time, it highlights the significant challenges facing companies operating in the country, whether they be multinational corporations with a presence in China, private domestic companies or state owned enterprises.
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A combination of fabulous prizes, a glamorous venue and generous guests eager to help two very good causes managed to raise a fabulous £75,000 at charity ball at the Waldorf Hilton on Saturday night.
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Reminiscent of the 1990s, well capitalised Asian investors will be tempted back into Australia's hotel investment market in 2009. According to Jones Lang LaSalle Hotels' newly released Hotel Investment Outlook 2009, the weaker Australian dollar and transparent property market is increasingly attracting counter-cyclical offshore investors in anticipation that markets will bottom over the next 12 months.
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Belgian-based content and technology specialist Gateway is launching its new hotel booking engine to the UK's off and online travel agency market at the 2009 Travel Technology Show. The engine, which is already being used by over 800 agents in Europe, is available in B2B and B2C versions and has an initial global inventory of over 100,000 hotels provided both by major accommodation vendors and by country, regional and luxury specialists.
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Opodo, the European online travel agency has reached an EBITDA in 2008 of €14.4 million and over €1.3 billion in sales, which is a 26% sales increase over the comparable figure for 2007. With this solid growth Opodo has consolidated its strong position in the European online travel community serving more than 4 million passengers across Europe.
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Global Hospitality Newsletter: February 4, 2009
We live in a highly technical world; the Internet, blogs, webinars, PDA's ,and email; holy smokes, we sure are getting sophisticated. But, in the process, are we leaving the tried and true sales basics farther and further behind us? In a recession, we don't need to re-direct our sales and marketing efforts; we need to get back to the basics that have worked and succeeded for many years. By: Neil Salerno
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STR Global gave its first review of the international hotel market for 2008 in a presentation by James Chappell, Managing Director, to the audience of owners, developers, asset managers and consultants at an event held by real estate advisors Cushman & Wakefield in London last month. The performance data of STR Global showed a reasonable picture for 2008 based on a strong first half year but the slowdown in demand in the last quarter was having a significant if mixed impact across Europe and the Middle East. Additionally, destinations with more mature hotel brand profiles were holding up better than others.
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In 1998 I opened a frightening letter from the California Medical Board announcing that someone had filed a complaint against me. The days when state boards went easy on doctors were long past. In response to persistent criticism, California joined others in raising license fees, hiring investigators, and sending out press releases boasting of how many doctors it had disciplined. Every month I received its bulletin listing details and names of those punished with license suspension, revocation, or some humiliating probation. These doctors seemed sad cases - incompetent, alcoholic, dishonest without being clever. Was I about to join them? By Mike Oppenheim
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Hotels keen to retain their business travel market must offer procurement managers not just discounts, but a guaranteed working environment in bedrooms, according to Niels Pedersen, managing director, Supranational Hotels consortium.
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IHG (InterContinental Hotels Group) has announced an expansion of its robust Quality Assurance program for all properties and brands in Europe, Middle East and Africa. The program is designed to measure and enhance brand compliance and guest service delivery at 650 properties in EMEA; IHG has partnered with LRA Worldwide, Inc. on the initiative.
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IDeaS Revenue Optimization, the leading provider of hospitality revenue management and optimization solutions and services, today released feedback from revenue managers that participated in a joint IDeaS/SAS focus group regarding gaming revenue management needs and challenges for 2009. The focus group included seven revenue managers from the world's leading casinos and took place at "The Series" in Las Vegas, an executive event that explores topics facing today's global business leaders. Revenue managers agreed that the number one concern for 2009 is the ailing economy and the importance of revenue optimization strategies to remain competitive.
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IHG, the world's largest hotel company by number of rooms, is trialling a new on-line system called ‘Green Engage*', which will help hotel general managers manage energy consumption more effectively. Early trials have shown potential energy savings of up to 25%. If fully adopted by all hotels across the 4,000 strong IHG portfolio, it is estimated that the savings for hotel owners could be as much as $200 million.
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Hospitality and tourism recruitment specialist TMS Asia-Pacific has again joined with financial advice specialist ipac Asia to offer a valuable mentoring option to Singapore-based employees affected by pay cuts and layoffs.
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Choice Hotels International is terminating its franchise agreements with 22 UK properties operated by The Real Hotel Company.
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Global Hospitality Newsletter: February 3, 2009
Hospitality Executive Movements worldwide is provided by Spectrum International Hospitality Services which specializes in executive recruitment for the hospitality industry exclusively.
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How will the recession affect bonus payouts in the hospitality industry? At HVS, we submit that companies should stick to their bonus plans and reward high performers to motivate and retain top talent amidst the downturn. By Trevor Belton
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Despite the global economic downturn, Hogg Robinson Group's (HRG) 2008 hotel survey reports a mixed picture for the hotel market. Across the world, all regions reported rate rises - albeit at a slower pace than in 2007. Rates flattened, and in some cases fell, in the second half of the year as the effects of the current climate took hold, but pockets of growth remain in cities where demand continues to outstrip supply.
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Corporate customers now account for about two thirds of Premier Inn's sales, up from about 50% in the recent past. Paul Flaum, the chain's chief operating officer, explains what attracts them. By Tom Otley
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Not a day goes by without announcements of projects cancelled, postponed, placed on hold or to be sold - worldwide. Yet it appears that Dubai is getting more than its fair share of attention. There appears to be an underlying "See? Told you so!" mentality in the market which makes it "chic" to report on the latest project bad news. Business meetings in the region which used to start with a good chat on the weather, business relatives and friends and latest trends now have a new first agenda point: industry lamentation - and it goes on for longer than first agenda points in the past. By Sven P Gade
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UNWTO's Tourism Resilience Committee (TRC) met for the first time in Madrid. The recently established TRC is one of the responses of the Organization to provide the sector, and its Members in particular, with the necessary support to help them endure these challenging times.
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TripAdvisor®, the world's largest travel community, announced the top 10 dirtiest hotels in America, based on TripAdvisor traveler ratings for cleanliness. True to TripAdvisor's promise to deliver the whole truth about travel-the good, the bad, and the ugly-TripAdvisor has identified the 10 dirtiest hotels in the U.S. for the fourth year running.
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It is certainly a very different market for travel professionals in 2009 looking for a new job. Twelve months ago the market was driven entirely by the candidate; strong and talented applicants in all areas of the travel industry could almost guarantee several interviews and a choice of new job. Not so now. Market conditions have completely reversed due to the global economic downturn.
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American Tourism to Egypt showed a dramatic increase of arrivals in 2008 over the previous year according to an announcement made by the Hon. Zoheir Garranah, Egypt's Minister of Tourism. "We had 319,000 thousand visitors from the US last year, representing a 17% increase."
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Global Hospitality Newsletter: February 2, 2009
London chain hotels reported a minimal decline in profitability in 2008 according to the full-year HotStats survey from TRI Hospitality Consulting. The sample of over 100 full-service branded London hotels reported that income before fixed charges (IBFC) - also known as gross operating profit - dipped by 0.2 per cent from a daily figure of £63.79 per available room in 2007 to £63.69 in 2008.
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The U.S. hotel industry posted declines across the board during the week of 18-24 January 2009, according to data from STR. However, Washington, D.C., enjoyed the benefits of President Barack Obama's inauguration as the market's performance was up markedly-which included year-over-year revenue per available room figures that more than doubled from 2008.
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The first half of 2008 saw healthy growth for Global Distribution Systems (GDS) room nights and average daily rate (ADR). However, since June, room nights have fallen and, since October, ADR has also fallen. This downward trend is set to continue into 2009, according to research carried out by Great Hotels Organisation, a global hotel sales and marketing company.
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Captain C. P. Krishnan Nair, Chairman of The Leela Palaces, Hotels & Resorts, has been honoured by the American Academy of Hospitality Sciences (AAHS) for his contribution to environment beautification and corporate social responsibility.
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Hilton Hotels Corporation (HHC) today announced that it has entered into a management agreement with Primrose Capital (UK) Ltd, to open the first new build Waldorf Astoria hotel in Europe. The Waldorf Astoria Berlin in Germany is anticipated to open towards the end of 2011 and will feature 242 luxury guest rooms and suites.
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More than half of Australians (54%) are worried about their job security in 2009, with more than one in three planning to further their skills and qualifications to make themselves more employable. The results from a survey by Think: Education Group, one of Australia's largest private tertiary providers, come as economic conditions take their toll on the Australian employment market and diminish career opportunities.
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Rosen Hotels & Resorts is making meetings a little less stressful - and economical - for meeting planners with a ground-breaking new "Attrition Relief" program at its three Orlando convention hotels Rosen Plaza, Rosen Centre and Rosen Shingle Creek.
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Quadriga, the leading provider of entertainment and internet services to over 400,000 guest rooms, has published its list of top 20 most popular movies for 2008, which features blockbuster movies from all the top Hollywood studios, illustrating its ability to offer hotel customers unbeatable guest entertainment choice. This is enabled through agreements with movie distributors UIP (United International Pictures) and Filmbank Distributors (a joint venture between Warner Bros and Sony Pictures) and a direct studio deal with Twentieth Century Fox, which combined, provide the distribution rights to an unrivalled selection of the latest Hollywood movies.
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The UK travel industry may be in for a better year than analysts predict, according to research released by Club Med which found that overseas holidays were the most important luxury for the British public during the credit crunch.
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