European Travel Industry Withers Amid Coronavirus

According to the Hellenic Chamber of Hotels in Greece, some 65% of hotels in the country are on the verge of bankruptcy. The outlook is equally dire in other tourist-heavy economies across Europe. EU officials are scurrying behind-the scenes to salvage what they can of the summer tourist season. From a supply-side perspective, policy initiatives … Continue reading European Travel Industry Withers Amid Coronavirus

Riyadh Drills for ‘White Oil’

Tourism has never been a priority in Saudi Arabia, ostensibly because of visitors’ lack of sensitivity to local customs. Peripatetic businessmen are one thing; individual or group travelers wandering about the country are quite another. Better to focus government energies on Muslim arrivals at Jeddah, en route to Mecca and Medina. All that is about … Continue reading Riyadh Drills for ‘White Oil’

‘They Have a Credit Card or They’re Paying Cash’

Medical tourism is a cutthroat business. According to US-based Patients Beyond Borders, some 14 million patients worldwide visited overseas hospitals and clinics in 2016. The commercial intensity has much to do with the cash infusion at stake. So there is little surprise that Tucson—home to medical science-oriented University of Arizona—wants to get into the game. … Continue reading ‘They Have a Credit Card or They’re Paying Cash’

For Investors, Hotels Become Utilities

Shareholders may soon shift their attention from electric companies to hospitality-management firms for income considerations. Hoteliers have long mothered their profits to accommodate capital investment. Yet in a curious turn of tradition, InterContinental Hotels Group, the UK-based owner of the Crowne Plaza and Holiday Inn brands, declared a special dividend this week for investors based … Continue reading For Investors, Hotels Become Utilities

Hotel Investors Dismiss Large and Lumbering

Marriott is now on the defensive about its Starwood acquisition, heralding the benefit of choice. That notion rings hollow amid the current economic setting. Shareholders seem to agree; the stock price continues to languish. Corporate travel departments after all are charged with compressing travel costs, not expanding room-selection alternatives. In our view, the best news … Continue reading Hotel Investors Dismiss Large and Lumbering

Hotel Chains Take Aim at Online Agents

Expedia and Travelocity may have seen better days. The major hospitality brands increasingly prefer to sell their rooms through their own websites, rather than distribute that inventory through third parties. It seems that management companies have grown tired of carving up their profits and attracting flighty guests. Customer loyalty is an ever-growing business metric. The … Continue reading Hotel Chains Take Aim at Online Agents