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Newsletter September 9, 2002

France expects drop in 2002 tourism

(AFP) - Tourist numbers in France are likely to be down in 2002 but the fall will probably only be temporary, French Secretary of State for Tourism Leon Bertrand said on Monday.

"It will be perhaps less good than 2000 or 2001... it has stagnated," he said, some three weeks before official figures are due to be published by his ministry.

 

Bertrand said that the summer tourist season, the most important time for the French industry, had a mixed July but that August showed a revival in the sector, adding that 2003 was likely to be a good year.

Americans and Asians were almost certainly fewer this year than they have been in the past, in part due to the September 11 attacks but also because of economic slow down, he said, noting that numbers had been falling even before September 11.

But he said they had to some extent been replaced by increased numbers of Dutch, German and Belgian tourists.

They had been attracted in part by the good rail links between their countries and France which meant they did not have to travel by air.

"As long as we react and adapt correctly in the years to come we will see a strong growth in our tourism for our economy," he said.

He added that he thought the stagnation was likely only to be temporary and praised the willingness of both state run bodies promoting tourism and private operators to adapt.

Britain gets tourism boost

BRITAIN'S battered tourist industry has received a welcome boost. Latest visitor figures show foreigners made 2.9m visits in July compared with 2.2m in the same month last year. They spent £1.4bn against £1.3bn the year before, the Office for National Statistics said.

The July figures, which followed a succession of falls, took the number of visits in the year that far to 14m - up on the 13.6m figure for January to July 2001. In that time, tourists spent £6.4bn against £6.5bn for the same period last year. The figures have to be compared to a period of 2001 when foot-and-mouth caused a plunge in arrivals.

British residents made 6.6m trips abroad in July, spending £2.9bn compared with 6m trips in July last year, when £2.6bn was spent.

Source:  Thisislondon.com

England, Wales and Scotland join forces with ‘Tourism UK’

e-Tid.com  -  The English Tourism Council, Wales Tourist Board and VisitScotland have launched ‘Tourism UK’ – a federation for British tourism’ to lobby the government for improvements in funding.

Travel Weekly reports Tourism UK, whose slogan is ‘One Voice’, will be meeting with MPs such as culture secretary Tessa Jowell and tourism minister Kim Howells to demand extra recognition for domestic tourism. It is the first time the three countries’ tourist authorities, which between them control around £80m of public money, have launched a collective body to lobby government.

Phillip Evans, Wales Tourist Board chairman, told TW: ‘It is amazing that after 30 years we have not got together for a pan-UK discussion of the issues. We wanted to make our point known at a more senior level of government…Domestic tourism is overlooked, despite providing 85% of tourism’s yield.’

Inbound tourists to the UK are still below 2001 levels, despite it being the year of the foot and mouth crisis. The British Incoming Tour Operators’ Association (BITOA)’s ‘Business Barometer’ for July 2002, released earlier this week, showed visitor numbers 4.68% down on the same month of last year.

Sheraton's Promise to Guests: A Great Stay Or We Pay

(BUSINESS WIRE) -- Tired of shoddy service?  So is Sheraton Hotels & Resorts and the hotel company is putting its money where its mouth is with its new Service Promise. Beginning today, slow room service, a wake up call that fails to arrive, a lumpy bed, or even a missing bar of soap will not only get fixed on the spot when possible but will warrant guests' compensation at all 200 Sheraton hotels in the Continental U.S. and Canada.

No matter what the problem, guests who are unsatisfied need only tell a hotel associate and they will automatically receive compensation. Here's how the Sheraton Promise works:

    -   If a guest experiences an inconvenience such as missing bath
      amenities, slow check in, or billing problems he or she will
      receive an apology plus a $15 value or 500 Starwood Preferred




         Guest points.



    -   A large problem that the hotel can fix like a room that isn't
        clean, problems with the heating or controllable noise will
        result in an apology plus a $25-$75 value (based on the
        hotel's average daily rate). Guest's are offered several
        options for compensation including a credit toward the stay, a
        gift certificate for a future Sheraton stay, amenities such as
        spa services or Starwood Preferred Guest points.



    -   Slow room service, no wake up call, uncontrollable noise, poor
         food quality, a bad bed or other large problems that cannot be
         fixed will result in an apology plus credit for a free room
         night or meal; or a gift certificate good for one night at
         another Sheraton; or Starwood Preferred Guest points.

PROMISE IS A SIGN OF NEW TIMES AT SHERATON

According to Barry S. Sternlicht, Chairman and CEO of Starwood Hotels & Resorts Worldwide Inc. (NYSE: HOT), the Sheraton Promise is designed to tell travelers that Sheraton is a different hotel company than it was five years ago, or even last year.

 

"For many years, travelers felt they could not count on a consistent Sheraton product from one city to the next, which was a huge frustration," said Sternlicht. "We have spent several years improving the brand, investing more than $1 billion primarily in renovations, significantly toughening up brand standards, policing hotels that continually failed to provide good service and, in many cases, disenfranchising hotels that would not or could not meet Sheraton's standards.

 

"Guests who have stayed at Sheraton in the last 12 months have noticed the improvements. The brand's Guest Satisfaction scores, measured by a third party, have increased significantly since 1999. The Service Promise is a way to tell travelers that may not have stayed with us for a while that it's a new day at Sheraton and when it comes to service and quality, we promise to ensure a great stay."

 

MORE IMPROVEMENTS IN THE WORKS INCLUDING SHERATON'S NEW LOOK

Following the lead of its sister brands W Hotels and Westin, the Sheraton brand is investing in improved comfort and consistent design. New beds, called the Sheraton Sweet Sleepersm Beds, have begun to roll out in hotels throughout North America. Featuring a Sealy Posturepedic Plush Top mattress, down pillows, crisp sheets and duvets in rich colors, the beds are the highlight of the room. It's a bed one might find in a beautiful home rather than the outdated polyester bedspreads, foam mattresses and cheap pillows typical in most chain hotels.

 

In addition, Sheraton's elite design team, recruited from Ralph Lauren, Holly Hunt, and Williams-Sonoma has revamped Sheraton's room design and created a second prototype Sheraton guestroom. Dubbed The Westchester Room, the room's traditional design is "Ralph Lauren-like" with rich jewel-tone colors; new wall coverings, mahogany desks and of course, the new Sheraton bed.

 

The room is accessorized with attractive chrome hooks for luggage and toiletry bags; stylish sconce lighting to address poor lighting complaints that plague the hotel industry, and laptop-size safes - little touches that tell the Road Warrior that Sheraton understands their particular needs.

 

OVERHAUL OF SHERATON'S FLAGSHIP

Starwood is investing more than $50 million to upgrade its most profitable hotel, the 2,400-room Sheraton New York Hotel & Towers, the largest hotel in the Sheraton brand. The hotel will soon feature The Westchester Room and the public space will feature a warm, club-like aesthetic inspired by New York landmarks.

 

Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with more than 740 properties in more than 80 countries and 110,000 employees at its owned and managed properties. With internationally renowned brands, Starwood is a fully integrated owner, operator and franchiser of hotels and resorts including: St. Regis, The Luxury Collection, Sheraton, Westin, Four Points by Sheraton, W brands, as well as Starwood Vacation Ownership, Inc., one of the premier developers and operators of high quality vacation interval ownership resorts. For more information, please visit   www.starwood.com

Hotel Goofs and Gaffes; Sheraton Hotels and Resorts Launches First Ever Written Service Guarantee Alleviating Top Ten List of Travel Woes

Is your hotel mattress lumpier than your wife's mashed potatoes?

Did your room service dinner arrive just in time--for breakfast? And did you sprout a few new gray hairs waiting on line for check-in?

Bad beds, slow room service and interminably long check-in lines are just three pet peeves plaguing the hotel industry according to Sheraton Hotels & Resorts Worldwide, Inc.

"Hotels constantly monitor `service failures' which is simply a fancy way of saying service goofs," said Robert Cotter, Chief Operating Officer of Starwood Hotels & Resorts Worldwide, Inc (NYSE:HOT), Sheraton's parent. "Industrywide, there are what I like to call the Big 10 - ten gaffes that really drive hotel guests nuts, and which they encounter far more than they should."

                       "BIG 10" Hotel Complaints







1.   Wrong Room (wrong size bed, wrong view, smoking/non smoking room)



2.   Room Not Clean



3.   Bad Bed (hard mattress, poor quality, not enough pillows, etc)



4.   Missing Wake-up Call



5.   Missing Bathroom Amenities



6.   Slow Room Service/Restaurant/Bar Service



7.   Uncontrollable Noise (train running, garbage truck)



8.   Billing Errors (incorrect posting of charges to bill)



9.   Slow Check-In



10.  Room not Ready

"While our goal with The Sheraton Service Promise is to eliminate poor service all together, if a guest does have a problem, any problem, we promise to fix it when possible, and make the situation right by compensating guests for a less than great stay," said Cotter.

 

The Sheraton Service Promise is the latest initiative designed to upgrade the brand and let travelers know that things are different at Sheraton today. During the last several years, more than $1 billion has been invested in the Sheraton brand, primarily in renovations; brand standards have been added and enforced; and hotels that failed to meet service criteria have been disenfranchised.

 

Guest satisfaction scores at Sheraton hotels have steadily increased over the last two years, and the company expects the rise to continue with programs like the Sheraton Service Promise, plus new beds and room design set to debut during the next six months.

Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with more than 740 properties in more than 80 countries and 110,000 employees at its owned and managed properties.

With internationally renowned brands, Starwood is a fully integrated owner, operator and franchiser of hotels and resorts including: St. Regis, The Luxury Collection, Sheraton, Westin, Four Points by Sheraton, W brands, as well as Starwood Vacation Ownership, Inc., one of the premier developers and operators of high quality vacation interval ownership resorts. For more information, please visit www.starwood.com.

News from Cornell’s Center for Hospitality Research

ITHACA, N.Y. — How have hotels responded to the industry crisis that worsened following the terrorist attacks last Sept. 11? How can airlines identify and control unruly passengers? How much debt is too much for hotel properties in crisis to take on? The answers to those, and many other questions relevant to hospitality and travel industry practitioners, can be found at www.hotelschool.cornell.edu/chr

The web site of the Center for Hospitality Research at Cornell University’s School of Hotel Administration, the world’s premier hotel school, has been publishing the latest research on industry trends and statistics since its inception in 1999. The site continues to grow, attracting a broad audience of industry professionals, with web site traffic in 2002 up 310 percent from the previous year.

“The web site’s heavy traffic demonstrates the industry’s interest in the research studies that we have posted,” said Professor Cathy Enz, director of the Center for Hospitality Research (CHR). The site’s content includes the CHR Reports research series and highlighted articles from the Hotel School’s award-winning journal, Cornell Hotel and Restaurant Administration Quarterly. In addition to the studies cited above, here are summaries of relevant research now on the site:

• “The Influence of Gas Price Fluctuations on U.S. Lodging Demand” demonstrates that when gas prices rise, demand for hotel rooms drops commensurately.

• “Strengthening the Purchaser-Supplier Partnership” shows that trust and communication between food-service purchasers and suppliers gives restaurateurs a competitive advantage.

• “Developing the Full Picture on Hotel Industry Averages” reveals that the most frequently used tool for measuring hotel performance can produce distorted results – and offers a more accurate measurement approach.

• “A Contemporary Model for Human Resources” provides a model of HR department-as-consultant that puts decision making in its most effective location – with the manager on the job.

The CHR web site also carries an annual compendium of research publications by all Cornell Hotel School faculty members as well as a glimpse of research in progress through summaries of working papers.

The CHR, which sponsors research aimed at improving the hospitality and travel industry’s fundamental operating knowledge, now has 19 corporate partners, sponsors and friends. “These companies give us valuable connections throughout the industry and in all corners of the world,” said Enz. “By joining the center, they become part of a strategic effort to expand the industry’s knowledge.”

 Current partners and sponsors of the CHR are: Bartech Systems International; Cornell Hotel Society Foundation; Four Seasons Hotels and Resorts; Richmond Events (Food & Beverage Forum); Willowbend Golf Management; and Windsor Hotels. CHR Friends now include: ehotelier.com; Gazelle Systems, Inc.; hospitalitynet.org; Hotel Asia Pacific; Hotel China; Lodging Hospitality; Resorts + Recreation; National Hotel Executive; Smith Travel Research; Shibata Publishing Co. Ltd. (The Hotel & Ryokan Monthly Japan); The Lodging Conference; The Hospitality Research Group of PKF Consulting; and WiredHotelier.com.

For more information on the Center for Hospitality Research call (607) 255-9780 or visit the CHR web site listed above.

For latest hospitality industry research – including aftershocks of 9/11 on hotels, airlines – see this Cornell Hotel School web site www.hotelschool.cornell.edu/chr

Spending by domestic tourists declines in NYC


Crains  -  New York's tourism industry suffered a blow of nearly $1 billion from domestic travelers last year because of the double-whammy of the recession and the terrorist attack, according to figures released Wednesday by NYC & Co., the city's tourism organization.

This year's picture remains bleak as well, as declining room rates offset rebounding occupancy to drive profits down 10% to 15%. The employment picture has improved from a loss of nearly 20,000 jobs right after the attack, with the industry regaining about 4,000 of those positions.

Figures for international travel to New York, slated to be released next month, are expected to show declines of 10% or more in spending and visitor counts compared with the prior year. International visitors spent $7.2 billion visiting the city in 2000. They are particularly prized by the tourism industry because they spend more and stay longer than their domestic counterparts.

"The decrease is having a profound negative effect on New York City," says Cristyne Nicholas, president of NYC & Co. "There are fewer international visitors in New York City than the year prior, which means less spending."

Domestic visitor spending dropped 10% to $8.8 billion last year compared with 2000. Domestic visitor counts rose slightly last year to 29.4 million, but travelers stayed for shorter periods than in 2000. Visitor days decreased 1% to 64.67 million from 65.3 million.

The profile of visitors to the city changed as well. Visits have increased from leisure travelers, a penny-pinching group, while deep-pocketed corporate travelers stayed away. Last year a leisure visitor spent an average of $145 per day while a business traveler spent an average of $241 per day. Many business travelers came in just for the day, avoiding an overnight stay.

Sol Melia's Escarrer warns FY results to be lower than expected
 

AFX  -  Sol Melia SA's full-year results will be lower than expected in the wake of this year's disappointing tourist season, Expansion reported, citing comments by chairman Gabriel Escarrer.

"Full-year results will not be as good as we had hoped," Escarrer was quoted as saying by Expansion.

He noted that "the current tourist season has not been good."

Escarrer expects the number of German tourist arrivals to Spain's Balearic islands to be around 1.1 mln less than last year, a development which will lead to the closure of some of the group's hotels in Mallorca by the end of this month.

September is expected to be a "bad month," Escarrer said.

Sol Melia has already cut its full-year EBITDA growth forecast to 0-4 pct from 15 pct previously following the release of first half results last month.

The company had already cut forecasts in the wake of the Sept 11 attacks on the US.

Dallas Hotel Market Update

Written by:  Rod Clough       HVS International

Dallas has been the site of declining hotel occupancy and average rate levels through the first half of 2002, influenced primarily by the downturn in the tech and telecommunications sectors as well as other secondary factors.  According to Smith Travel Research, occupancy for the six months ending June 2002 dropped to 57.0% for the MSA, off from almost 62.0% a year earlier.  After virtually closing the occupancy gap in April, May and June occupancy declines have been modestly lower than declines experienced in the first quarter.

Also according to Smith Travel Research, average rate has dropped by 4.0% thus far in 2002, to just over $80.00 from $83.75 in 2001.  Declines in rate were less significant in February and April, while the greatest declines have been experienced in January, March, and June.

Various Dallas sub-markets became over-heated during the tech boom of the late 1990s and into 2000, as unprecedented business levels were seen at major telecom and tech powerhouses throughout the city.  Dallas MSA unemployment hit its low in December of 2000 at 2.6%.  Key players, such as Texas Instruments, Nokia, Nortel, and Alcatel, to name a few, drove hotel demand to never before seen levels.

Following the tech bubble burst, demand from these sources declined during the last three quarters of 2001 and has remained at standstill levels for much of 2002.  By June 2002, unemployment reached its highest level for the year, at 7.5% (unemployment last topped 7.5% in June of 1992).  While many of these companies are now touting leaner, meaner operations and business models that are poised for recovery over the next three to five years, others are still retooling and reorganizing, announcing occasional layoffs and reorganizations. 

Hotels able to draw from a diversified base of demand have fared better, but, few hotels have been completely spared from the city’s business slow down.  Downtown hotels are looking forward to the unveiling of the expanded and renovated convention center, which should help support a recovery in the coming years.  The city is touting the new 203,000-square-foot hall as the world’s largest column-free exhibit space, and altogether the center will offer over 900,000 square feet of exhibit space - the most in the state. The project is scheduled for completion in September, and a grand opening celebration is planned for December. 

The city’s normally bustling Dallas Market Center (DMC) experienced a downturn in hotel room night generation during the first half of 2002, continuing its slide from the peaks experienced in January and October of 2000.  The first quarter and the fall months of September and October are normally the brightest spots for this sub-market, providing demand which overflows into the Brookhollow and CBD sub-markets. 

Market Center hotels typically see occupancy levels above the 70-percent mark, and rates at or above $100 overall; January and October are particularly strong, normally spiking the market average rates over $120.  On the heels of an expected brighter September and October ahead, we expect some strengthening in this sub-market during the first quarter of 2003.  January 2003, in particular, is poised to be a strong month for the Markets, with roughly 10 events scheduled, including the highly attended gift, apparel, and furniture markets.

Hotel demand associated with DFW International Airport has declined concurrent with its lower activity levels.  For the first half of the year, passenger activity at D/FW International was off just under 11.0%, mirroring the decline in American Airlines traffic, which represents roughly 70% of the airport’s activity.  American Airlines is working hard to streamline its operations in order to remain in business.  On August 22, the company, which is headquartered at the airport, announced plans to consolidate its operations into two buildings from its current 11-building campus.  Delta, which represents the next greatest share at roughly 17%, was down a lesser roundly 5.0% in activity for the first half of the year.  Fortunately, the passenger gaps are shortening somewhat, with declines in May and June less significant than declines in earlier months.  Construction on the airport’s new international concourse is also continuing and is on schedule.  Despite the recent declines in activity, D/FW remains a leader in nationwide airport operations, with almost 26 million total passengers passing through the facility during the first half of 2002.

Growth continues to push northward, with Grapevine, Frisco, Southlake, and Flower Mound, among other outlying communities, seeing expansion.  Relocations are also occurring within the Dallas area, as some companies move northward to newer office spaces (now available at attractive prices) or otherwise consolidate operations in order to cut costs.  The next five months should continue to show stabilizing trends, as the convention center comes on-line, companies continue to streamline and re-organize operations, passenger activity at the area airports stabilize, and activity at other market drivers, such as the Dallas Market Center, improve from fall 2001 levels.  A positive turn towards recovery is expected for 2003.

Rod Clough
Managing Director
HVS International
Suite 101
2601 Sagebrush Drive
Flower Mound, TX 75028
972-410-2002

Hong Kong well placed to become Asia's leading cruise hub

AsiaTravelTips.com  -  Worldwide cruise passengers are expected to reach 13.6 million by 2005 and Asia-Pacific will be one of the fast-growing areas in this market, a study commissioned by the Hong Kong Tourism Board (HKTB) reveals.

The study by consultants Bermello, Ajamil & Partners shows that new cruise vessels coming into service are getting longer and larger. Already, 36 new vessels are scheduled to join the fleets of the major cruise operators worldwide in the next three years, providing 75,000 new floating beds.

In 2001, the Asia Pacific Region generated 840,000 conventional cruise passengers, equivalent to 4.5 million bed-nights (the total number of nights spent on board). This is forecast to grow by up to 10% per annum over the next 10 years. The report shows that Hong Kong, already the second busiest cruise port in the region, is especially well-placed to develop as a hub for cruising in South China and the Far East.

Presenting the study findings today (5 September), HKTB Executive Director Clara Chong noted that international cruise passengers were a particularly important contributor to the tourism industry because they tended to come from higher income brackets. "The report estimates that the economic benefit of the cruise sector to Hong Kong could reach as much as HK$3.3 billion by 2010," she observed.

"It is not difficult to think of some of Hong Kong's natural advantages as a cruising hub," Ms Chong added. "Our spectacular harbour is clearly a major selling point, but also important are our standing as a major international air transport hub, our prime location at the gateway to Mainland China and, of course, our well-established position as Asia's most popular single tourism destination.

"However, to help us make informed decisions on how best to market Hong Kong as a cruise destination over the next five or ten years, we need more detailed growth figures and forecasts," Ms Chong explained.

"In commissioning this study, we wanted to obtain a reliable analysis of worldwide cruise capacity, of annual ship deployment patterns, of worldwide cruise passenger profiles and source markets, of demand forecasts for cruise passengers and of potential competitors. All this information will enable us to develop more focused and effective short, medium and long term marketing plans and strategies for the cruise market."

The consultants' study notes that the North American market offers especially high potential for both first-time and repeat business, with research showing that 43 million people from North America plan to take a cruise in the next five years, and 80% of those who have already been on a cruise plan to take another. Prospects for the European and Asian markets also look encouraging as incomes and leisure time increase, and air transport is made more accessible. Mainland China offers considerable longer-term potential as its economy continues to grow.

Scott Lagueux, Partner of Bermello, Ajamil & Partners, said that Hong Kong was in a strong position to benefit from this steady growth. "The feedback we received from the 16 major operators we interviewed for this study was very positive towards Hong Kong as a cruise destination, rating it as a 'must' on Asian itineraries," he commented.

Hong Kong will enjoy natural growth in cruise market volumes as the Asia-Pacific region's economy develops, Mr Lagueux observed, but it can increase the benefit by working with international cruise operators to help them develop products and itineraries that can appeal to international consumers, and raise interest in cruising in the regional market.

Mr Lagueux emphasised that to optimise long-term business opportunities and achieve the maximum projected economic benefit for Hong Kong, there were three key success factors: more berths, streamlined logistics and aggressive marketing.

Ms Chong noted that the HKTB was already working closely with regional operators to develop new, Hong Kong based packages, as well as aggressively promoting Hong Kong's advantages to the major international cruise lines. "We have so far secured 24 international ship calls, involving 14 different operators, for 2003," she said. "We expect the final number to be much higher.

"Our overall aim is to help each cruise line develop more programmes involving Hong Kong, differentiate their products from competitors and maximise their financial returns," Ms Chong concluded. "By doing so, we can also help to maximise the economic contribution of this important and exciting market to Hong Kong's tourism industry." 

Kempinski Introduces A 10% Rebate For Meetings Bookings

September 2002; Kempinski Hotels & Resorts, Europe's oldest luxury hotel group, has introduced a 10% rebate programme - called Meetings Bonus - to reward loyalty when booking events in its hotels in Germany. 10% of the rooms element of a first booking can then be used as payment for up to a maximum of 30% of the value of the rooms element of the second booking, even if this is at a different Kempinski hotel in Germany.

This cost saving is in addition to the benefits already offered by Meetings Concierge. Available in all Kempinski properties worldwide, this promises to respond to all inquiries within 24 hours, offers one contact person throughout the event and clear billing within one week of the event.

Kempinski Hotels & Resorts' prestigious portfolio comprises over 30 luxurious properties in Europe, the Middle East, Africa, South America, Asia and Australia. Each offers superior standards of service combined with a distinctive style, which reflects the individuality of the location. Landmarks include Hotel Adlon in Berlin, Ciragan Palace Hotel Kempinski in Istanbul, Grand Hotel Europe in St Petersburg and Palazzo Versace on Australia's Gold Coast.

 

Boca Resorts to release Quarterly earnings on September 12, 2002

/PRNewswire/  Boca Resorts, Inc. (NYSE: RST) today announced that it will release its results of operations for the three months ended June 30, 2002 on September 12th. The Company will host a conference call for investors that morning at 10:00 a.m. eastern time.

Company officials David S. Feder, President and Chief Operating Officer; William M. Pierce, Senior Vice President and Chief Financial Officer; and Steven M. Dauria, Vice President and Corporate Controller, will participate in the call. To listen, domestic callers should dial (888) 276-0006 approximately five minutes before the scheduled start time and request to be connected to the Boca Resorts, Inc. fourth quarter conference call. A continuous replay will be offered from 1:30 p.m. on September 12th until 11:59 p.m. on October 12th and may be accessed by dialing (800) 475-6701 in the U.S. or (320) 365-3844 for international callers (you will then be prompted to identify the access code, which is 650239).

Boca Resorts, Inc. owns luxury resort properties and golf courses in Florida. The Company's Florida resort and golf portfolio includes the Boca Raton Resort & Club in Boca Raton; the Registry Resort at Pelican Bay, the Edgewater Beach Hotel and Naples Grande Golf Club in Naples; and the Hyatt Regency Pier 66 Hotel and Marina, the Radisson Bahia Mar Resort and Yachting Center and Grande Oaks Golf Club in Fort Lauderdale.

QMH sees subdued July/Aug

e-Tid.com  -   Hotel operator Queens Moat Houses has managed a £1m pretax profit for the half, but warned that July and August have been subdued.
The chain has 42 Moat House Hotels in the UK and 26 Bilderbergs in Holland. In Germany it has 13 Queens Hotels and, as franchise partners, 11 Holiday Inn Hotels.
UK trading for the half saw occupancy drop to 69.9% from 71.5%, with an increased number of leisure travellers leading to an ARR decline of 6.1% to £57.17. The division made a trading profit of £27.6m on turnover of £88.2m. However, food and drink revenues increased by 1%.
In Germany, the trading profit dropped 12.5%, compared with the UK
s 7.4%, from 21m (£13.3m) to 18.4m (£11.7m). Occupancy dropped to 60% from 63.3%; food and drink spend dropped 7.5%. The Netherlands saw ARR increase 3.1% to 104.72 (£66.4m). Trading profit was 14.12m (£9m) on revenues of 55m (£34.9m).
The regional differences are highlighted by the performance since the period ended
the UK room yield is 1.7% down year-on-year while Germany is 11.4% short, the Netherlands is in positive territory, 3.6% ahead.
The interims also say that
litigation [was] settled with former auditors, resulting in proceeds of £4.5m [and] a former director also settled with the company in July, bringing all such litigation to an end.
Meanwhile two former QMH finance executives have been banned from the accountancy profession following a Joint Disciplinary Scheme investigation. Accountingweb.com reports that former FD David Hersey and deputy FD Allan Porter have been disqualified by the DTI from acting as company directors for eight and seven years respectively.

Center of Hospitality Research at Cornell University

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