|
|
|
September 2, 2010 Hotel rates booked in global distribution systems climbed 6 percent and bookings rose 24.5 percent worldwide in July over last year, according to Pegasus Solutions. In North America, GDS rates grew 2.7 percent and bookings jumped 25.2 percent, indicating that "larger companies in particular are getting back to growing and developing their business and spending the money necessary to do so," according to Pegasus.
September 2, 2010 Avis Budget sweetened its offer to purchase Dollar Thrifty Automotive Group ahead of a Sept. 16 vote by Dollar Thrifty shareholders on a proposed Hertz acquisition. In a U.S. Securities & Exchange Commission filing, Avis Budget wrote that its proposal, which now includes a $40.75 per share offer (up from its previous $39.25 per share offer), "is clearly superior to the Hertz offer in the two ways that matter--we are offering a substantially higher price and a more meaningful divestiture commitment. The Hertz offer significantly undervalues Dollar Thrifty."
September 1, 2010 GSA adjusted upward by 10 percent to $77 the standard reimbursable per diem for hotel rates, effective Oct. 1 for fiscal year 2011. Among the 378 "nonstandard" locations, "310 will see decreases in their FY2011 rates, 50 will increase and 18 will remain the same," according to the U.S. General Services Administration. "Reimbursement for meals and incidental expenses remain unchanged from FY2010, ranging from $46 through $71 for meals per day depending on the location and $5 for incidental expenses." Though GSA per diems cover only government travel, many other organizations use them as guides for their own travel programs.
August 30, 2010 PricewaterhouseCoopers for 2011 predicted a 4.1 percent rise in U.S. lodging rates. For full-year 2010, the firm projected a 0.6 percent rate drop and a 2.6 percent increase in occupancy. "The recovery of business travel is expected to continue as recent corporate earnings reports suggest a more confident segment willing to travel," according to PwC.
August 24, 2010 North American corporate airfares, hotel rates and meeting costs in 2011 generally will increase as rental and chauffeured car costs decrease, according to Carlson Wagonlit Travel. The travel management company this week issued its 2011 forecast, which predicted roughly 3 percent to 6 percent increases for domestic economy and international economy and business class airfares. U.S. and Canadian average daily hotel rates next year will increase about 6 percent and 5 percent, respectively, CWT projected.
August 20, 2010 American Airlines named Derek DeCross vice president and general sales manager, replacing Kurt Stache who assumes the role of vice president of international. DeCross will be responsible for "leading American's sales team and for developing all sales policies worldwide," including corporate and travel agency sales, and will report to AA chief commercial officer Virasb Vahidi. Stache will be responsible for "American's business in the Atlantic and Pacific regions," and will report to president Tom Horton.
August 20, 2010 Domestic U.S. airline passenger yield in July increased 13 percent year over year to 14.95 cents per mile, according to the Air Transport Association. Defined as "the average price (excluding taxes) paid to fly one mile," domestic yield increased for a seventh-consecutive month. ATA for July also reported a 20 percent jump in total passenger revenue but a 1 percent drop in total passengers traveling on U.S. airlines.
August 12, 2010 InterContinental Hotels Group reported a $219 million operating profit for the six months through June compared with $179 million the year before. "With business travelers returning in greater numbers," room rates are "now stabilizing across the world, with most markets seeing rate growth towards the end of the first half," according to CEO Andrew Cosslett. Second quarter average daily rate fell 1.3 percent to $97.55 in the Americas, increased 0.6 percent to $135.25 in Europe, the Middle East and Africa, and rose 1.9 percent to $104.70 in Asia-Pacific. August 11, 2010 Smith Travel Research predicted U.S. hotel occupancy in 2010 would rise 4.4 percent versus 2009, with revenue per available room up 4.3 percent to $55.77. Average daily rate will be roughly flat, the firm estimated. "We're still a little bit worried about the ADR part of the equation," according to STR president Mark Lomanno. "The industry is currently facing a lot of challenges, and there are all kinds of pressures on that ADR number: the online travel agencies and still-rebounding group business, to name just two." STR expects supply to grow 2.2 percent during 2010, with demand up 6.6 percent.
|
|
|
retweet
share
share
share
share
share
share
share
share
share
