(TDN): TRI Hospitality Consulting reports London hotels are forecast to enjoy increasing profitability during 2010. At the same time, while hotels in the UK provinces will see a slight dip in profitability during 2010, they will accelerate to almost double digit growth in 2011.
“Our research indicates that there is a close relationship between movements in rooms revenue performance and total revenue performance for both UK (more…)
(TDN): The serviced apartment sector is proving one of the early beneficiaries of increased corporate confidence as early 2010 sees a resurgence in business travel. Paul Constantinou, Chairman of Quest Serviced Apartments, says his franchisees are already seeing an increase in the number of corporate organisations seeking serviced apartments for their travelling executives.
“Already these accommodation options are attracting increased patronage in 2010 and make up the fastest growing sector in the industry. Quest bookings are solid for the first quarter of the year which suggests despite the turn in the economy, companies (more…)
(TDN): With under one month to go before EIBTM (1-3 December, Barcelona) opens its doors to the international meetings industry, over 50,000 business appointments are set to take place as EIBTM plays host to more than 3,700 Hosted Buyers; all recognising the importance the event plays in delivering business and return on investment. As of 10 November pre scheduled appointments were up 10% on the same time last year.
Over 255 international Association Buyers have been accepted onto the Hosted Buyer programme, a substantial (more…)
(TDN): Emirates has launched its first airport lounge in Africa at the OR Tambo International Airport in Johannesburg, bringing the total number of lounges the airline has established across its network, for the exclusive use of its customers, to 23.
The Dubai-based airline has also unveiled plans to introduce three more Emirates Lounges to cater for its First and Business Class passengers and frequent flyers (more…)
(PTI): The mayors of Hoboken, Ridgefield and Secaucus, New Jersey, and five rabbis are among 44 people charged by a US court with corruption and money laundering.
Hoboken Mayor Peter Cammarano, Secaucus Mayor Dennis Elwell, and Ridgefield Mayor Anthony Suarez , all Democrats; Jersey City Council President Mariano Vega Jr.; State Assemblyman Daniel Van Pelt, a Republican from Ocean Township; and Assemblyman L. Harvey Smith, a Jersey City (more…)
(PTI): China’s foreign currency reserves have risen above US 2 trillion dollars in the second quarter of 2009, new data from the People’s Bank of China shows.
China’s foreign exchange reserves have soared 17.8% from June 2008 to a record US 2.13 trillion. The country’s reserves climbed as foreign investment poured back into the world’s largest foreign reserves after overseas investors identified (more…)
(PTI): Siemens risks hundreds of millions of dollars in sales to the Los Angeles Metropolitan Transportation Authority for providing Iran with surveillance technology.
Nokia Siemens Networks, a joint venture between Germany’s Siemens and Finland’s Nokia, recently sold Iran’s telecommunications company a monitoring center (more…)
(PTI): US Vice President Joe Biden says the Obama Administration miscalculated the severity of the economic situation, insisting that the stimulus package will be promising.
Appearing on ABC’s “This Week” on Sunday Biden said that the administration fully supports the stimulus package and believes it could generate more jobs (more…)
(PTI): Jordanian police attack demonstrators who demand a ban on the import of Israeli agricultural products which they say supports Jewish settlements.
The demonstrators held a sit-in on Sunday in front of the Agricultural Ministry to protest the import of Israeli vegetables and fruits. Jordanians say buying Israeli produce helps Jewish settlers (more…)
(PTI): The US Labor Department says after American employers laid off 467,000 jobs in June, the rate of unemployment has hit a 26-year high of 9.5 percent.
The department says in its latest report that despite signs of recovery in the recession-hit economy, companies will likely cut more jobs to cope with the recent (more…)
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