Summer travel outlook
The summer travel season in the northern hemisphere has long been a respite for weary hoteliers plagued with dreary year-to-date balance sheets.
Source: Hotel News Now
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July 2, 2009
Ailing Calif. economy could prolong US recession
California faces a $24 billion budget shortfall, an eye-popping amount that dwarfs many states’ entire annual spending plans.
Source: The Seattle Times
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Aspen airport picks federal grants
The Aspen-Pitkin County Airport recently received a $519,692 grant from the Federal Aviation Administration and another check, for $647,224, is expected this week, according to Dave Ulane, assistant airport director.
Source: Aspen Times
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Vail area real estate sales jump, a little, in May
Vail-area real estate sales in May posted the best totals so far this year. There were 79 sales in May, totaling $70.7 million. Both numbers are, by far the best this year. But sales are still lagging well behind last year’s totals, and way, way behind the big numbers racked up in 2006.
Source: Aspen Times
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Sharp decline in British skiers
They went down by 15% last winter after 7 years of sustained growth. There wil be cutbacks next winter as one company axes its chalets by 40%.
Source: PlanetSki.eu
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Competitive Hotel Pricing in Uncertain Times
Executive Summary: This analysis of the pricing (ADR), demand (occupancy), and revenue (RevPAR) dynamics in the U.S. hotel industry for the period 2001 through 2007 demonstrates the potentially negative consequences of attempting to maintain market share by offering prices below those of direct competitors.
Source: Cornell University School of Hotel Administration
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June 30, 2009
National Travel Monitor: Travelers to head West
In the battle for domestic travel dollars during the year ahead, the just-released Ypartnership/Yankelovich 2009 National Travel MONITOR(SM) reveals that the West is likely to win, with the South not far behind.
Source: Hotel News Now
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Premier Resorts of Utah Provides Financial Statement: Deer Valley Lodging had only $700K in Assets to Pay Back $12.5 million, Question Remains: “Where Did the Money Go?”
Premier Resorts International is still avoiding answering the question, “Where did the money go?” Two weeks ago, the affiliate Premier Resorts of Utah submitted a Statement of Financial Affairs to the U.S. Bankruptcy Court in Salt Lake City listing its assets and liabilities.
Source: Hotel Online
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June 29, 2009
GE CEO Immelt Says Cyclical Downturn Is Now Behind Us
General Electric Co. (GE) Chairman and CEO Jeff Immelt said Monday that the downturn in the economic cycle was over and that GE was now in a strong position to trade in a “reset” global economy.
Source: The Wall Street Journal
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How Will Tour Operators Fare? Erna Low Studies Raise Questions
Erna Low, one of the UK’s leading tour agencies, is raising a great big question mark about how tour operators will fare this season. The 77-year-old ski-specialist company has released the results of several studies in a paper dubbed the Erna Low Credit Crunch Report.
Source: Mountain News
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