The hotel performance results for North and South America, Middle East and Africa, Asia Pacific and Europe was released by STR Global. North and South America stated an increase with the following: in occupancy from 4.7 to 61.2 percent, average daily rate of 3.3 percent which is equal to US$103.53, and revenue per available room [...]
Seems like the traditional Memorial Day kickoff in the West is limited to certain activities this time. Everyone is a witness to the wintry feel in most parts of the United States. At least 25 feet of snow hampers visitors from spending the Memorial Weekend in camps. Staff members in the Rocky Mountains and Sierra [...]
Exclusive Resorts has recently announced an alliance with The Eden Club, a Scotland-based private members club. The alliance aims to provide Exclusive Resorts members the opportunity to experience the luxury and style of The Eden Club’s private estate residences, located on the grounds of the historic Pittormie Castle, which sits a short distance away from [...]
After years of waiting, England’s High Court has finally granted the enforcement orders in favor of the Office of Fair Trading (OFT) against two holiday clubs—Personal Travel Group Limited (PTG) and Geo Demographic Market Research Ltd. (GDMR). The same orders are applicable to seven more individuals, including two directors of PTG who likewise served as [...]
Radisson Lexington Hotel New York has entered into a contractual purchase and sale agreement with DiamondRock Hospitality Company last May 17. DiamondRock Company purchased the 712-room New York hotel for an amount of $335 million. The contractual price represents a 13.5x multiple of the hotel’s 2012 EBITDA of $24.8 million, and a 6.7% capitalization rate [...]
A dense cloud of ash from an Icelandic volcano began to move towards Scotland last week, causing several airlines to cancel their flights and US President Barack Obama to cut his visit to Ireland short. The cloud has sparked a fear of a repeat of the widespread travel disruptions when Iceland’s Eyjafjallajokull erupted, forcing millions [...]
[wikichart align="right" ticker="NYSE:IHG" showannotations="true" livequote="true" startdate="21-11-2010" enddate="21-05-2011" width="300" height="245"] InterContinental Hotels Group (NYSE: IHG) recently announced the opening of a new Holiday Inn hotel in Birmingham. The five-story hotel, located on a lakeshore in a quiet area just outside of Birmingham, features 112 rooms, which includes two suites; a 24-hour business center, and 1,674 square [...]
Marriott International is all set to partner with Jabal Omar Development Company in launching three upscale branches in Makkah,Saudi Arabia. Currently, there are three Marriott International hotel branches in the country, namely, the Riyadh Marriott, the Jeddah Marriott, and the Madina Marriott. Other properties included in the Marriott portfolio are still being developed and are [...]
It was, indeed, a happy first quarter of 2011 for Sol Meliá. The Spanish hotel chain raked in €4.6 million (6.5 million U.S. dollars) for Q1 2011, a €1 million (US$1.4 million) jump from the prior year period. Earnings before interest, taxes, depreciation and amortization or EBITDA also grew from €40.6 million ($58 million) to [...]
The Timeshare Association for Timeshare Owner Committees (TATOC) unveiled the spring edition of its Sharetime magazine last May 19. All timeshare owners, members of the association, and its affiliates can now view and download the magazine at www.sharetimemagazine.com. The sixth issue of the publication in digital format comprises 32 pages of remarkable contents about business, [...]