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Thursday, 09-02-2010
Issue
662
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1714 piece(s) of news found
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1-10 of 1714
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The U.S. hotel industry posted increases in all three key performance measurements during July 2010, according to data from STR. In year-over-year measurements, the industry’s occupancy was up 7 percent to 67.9 percent, average daily rate ended the month with a 1.3 percent increase to $99.14, and revenue per available room for the month rose 8.5 percent to finish at $67.35. A consortium of Mexican businessmen called Tenedora K has purchased 95 percent of Mexicana Airlines’ holding company in the hopes that they can save the struggling carrier. The consortium bought 95 percent of Nuevo Grupo Aeronautico as well as domestic airlines Mexicana Click and Mexicana Link. Air Canada reported a quarterly net loss of C$203 million ($199.6 million), but an increase in operating income of C$75 million ($73.5 million), a considerable improvement over last year’s operating loss of $113 million ($110.8 million). Hyatt Hotels Corporation reported second quarter adjusted EBITDA was $135 million compared to $120 million in the second quarter of 2009, an increase of 12.5 percent (11.8 percent excluding the effect of currency). Although he continues telling the press that he’s being chased by his secure-businessman image, it’s clear that Juan Jose Hidalgo, president of the Globalia Group, shall be worried these days. The hotel division of his rock-solid tourism empire has turned into a genuine problem since the conflict was sparked off months ago by Pedro Pueyo, a businessman and owner of Oasis establishments, managed by Globalia since 2007. Travelport said it saw modest increases in net revenues in the second quarter -- 1 percent over the second quarter of 2009 and 3 percent over the first half of 2009. The company’s adjusted EBITDA was $176 million, a 2 percent decrease over second quarter 2009. For the first half of the year, EBITDA was $315 million, which was flat as compared with the first half 2009. Orbitz Worldwide said global gross bookings in the second quarter increased 17 percent year over year, mainly due to higher air fares and higher transaction volume. Air gross bookings increased 21 percent (22 percent on a constant currency basis) and non-air gross bookings increased seven percent (six percent on a constant currency basis) year over year. Domestic gross bookings increased 17 percent and international gross bookings increased 19 percent (20 percent on a constant currency basis) year over year. In a mid-year financial check up, three-quarters (75 percent) of Americans say their debt has not increased over the past six months and in fact more than a third (38 percent) say their debt has actually decreased, according to the latest American Express Spending & Saving Tracker. Thomas Cook Group has agreed to acquire 100 percent of Öger Tours, a German tour operator specializing in package holidays to Turkey, from its founding shareholder Vural Öger. Altour has acquired Advantage Travel & Incentives, Inc. (Advantage Performance Network (APN) and Advantage Travel Management), located in Savage, Minn. The company was established in 1995 by Mary Sue Leathers, with a vision of bringing customer service back to the travel industry.
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