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July 21, 2010 US Airways Group reported second-quarter net income of $279 million, up from $58 million a year earlier and the "second-highest quarterly profit since our 2005 merger" with America West Airlines. According to president Scott Kirby, corporate revenue during the quarter increased 42 percent year over year but still was down 2 percent versus 2008. "In June, for first time this year, corporate revenue was up versus 2008," he added.
July 21, 2010 Corporate room nights booked in the second quarter by Host Hotels & Resorts properties rose 11 percent, corporate rates grew 6 percent and corporate revenue increased 18 percent, the company announced. "Special" corporate room nights rose 33 percent. Association and corporate group booking rates in lower-tier segments grew 121 percent, while overall corporate group business climbed 16 percent. For 2011, Host is "sending the message" that higher rates are to come and although "that message is being accepted corporate customers," that "doesn't mean it will ultimately be negotiated," according to CEO W. Edward Walter. The company reported second-quarter net income of $20 million compared with a loss of $69 million a year earlier. Overall average daily rate decreased to $175.47 from $177 whereas occupancy climbed to 74 percent from 68 percent.
July 21, 2010 AirTran Holdings in the second quarter posted an "all-time" revenue record of $634 million and "quarterly records" for total traffic, load factor and enplaned passengers. The parent company of AirTran Airways reported a $12.4 million net profit, down from $78.4 million a year earlier, partly due to fuel hedge losses and other one-time financial items.
July 20, 2010 United and Continental announced "a transition and process agreement" with both carriers' pilot groups ahead of a proposed merger. United CFO Kathryn Mikells said the announcement represents "a good start" on work toward a final joint pilot deal. The companies plan to close the merger transaction by year-end. "We have established about 30 functional integration teams," Mikells said. "The focus of every team is to build an integration plan that allows for quick implementation post-close." She added that the regulatory process is "proceeding well"; that authorities in Canada "indicated that they don't intend to perform a review of the merger at this time"; and that all required filings have been submitted to the European Commission and other foreign jurisdictions.
July 20, 2010 UAL Corp. reported its "first quarterly profit since 2007" with net income of $273 million. Excluding one-time items, $430 million marked "the largest second quarter profit since 1999" and a $751 million year-over-year improvement, said CEO Glenn Tilton. According to president John Tague, "Year to date, United is the only major U.S. network carrier to generate positive unit revenue growth compared to 2008." He cited strong corporate and premium cabin booking trends and "continued pricing improvements quarter over quarter."
July 19, 2010 Delta Air Lines posted a second-quarter net profit of $467 million, reversing the net loss of $257 million from a year earlier and marking "our best result in a decade," according to CEO Richard Anderson. Passenger revenue and unit revenue each increased by 19 percent, and corporate revenue jumped 60 percent year over year.
July 16, 2010 Marriott International reported second quarter net income of $119 million, up 42 percent from a year earlier. Corporate room nights booked at Marriott Hotels & Resorts-branded properties increased 16 percent year over year. "Special corporate" room nights--those used by clients with negotiated rates--rose 21 percent. Negotiated rates on average were lower by 3 percent in the quarter. COO Arne Sorenson said he expects such rates in 2011 to increase by high single digit percentages, though "even a 10 percent [increase] on those rates in special corporate accounts is going to leave us quite short of where we were in 2007."
June 28, 2010 American Express Business Travel clients in the first quarter paid an average of $146 per night for a U.S. hotel room, down 5 percent year over year. The April average was $150. For first-quarter hotel bookings outside the United States, clients on average paid $228 per night, down less than one percent year over year, according to Amex. The average non-U.S. rate declined further in April, to $224. June 28, 2010 The average first-quarter domestic airfare paid by American Express Business Travel clients was $225, up 6 percent year over year. The April average was $231. For first-quarter international airfares, clients on average paid $1,726, up 3 percent year over year, according to Amex. The average international airfare rose further in April, to $1,821. June 22, 2010 The North American average for daily lodging rates sold in global distribution systems increased 4.5 percent in May compared with a year earlier, according to Pegasus Solutions. North American net bookings grew 26.3 percent versus May 2009, whereas GDS net revenue jumped 35.5 percent. Outside of North America, ADR increased 7.3 percent in May and year to date-May ADR grew 5.2 percent. Globally, ADR is expected to climb 5.2 percent in June, 9.5 percent in July, 11.9 percent in August and 8.6 percent in September. June 22, 2010 Domestic U.S. airline passenger yield in May jumped 14.1 percent year over year to 14.56 cents per mile, according to the Air Transport Association. Defined as the "average price someone pays to fly one mile excluding government taxes and fees," domestic yield increased for the fifth consecutive month. Transatlantic and transpacific yields in May rose by more than 28 percent and 12 percent, respectively, year over year. June 15, 2010 Delta Air Lines in May collected 63 percent more corporate revenue than it had a year earlier on 35 percent higher corporate ticket volume, according to president Ed Bastian. Speaking Tuesday during the Bank of America Merrill Lynch 2010 Global Transportation Conference, Bastian said the differential between the two metrics reflects "the amount of pricing traction we are seeing in the market, which is significant." As with other U.S. carriers, Delta's corporate client activity continues to recover rapidly from recession-depressed levels throughout 2009. June 9, 2010 Marriott's average daily rate at North American company-operated properties during its most recent accounting period including May increased 1 percent, "the first room rate increase in nearly two years," according to the company. Speaking during the New York University International Hospitality Industry Investment conference, Marriott president and COO Arne Sorenson said "demand has come back aggressively" and corporate rates in 2011 likely would increase. "We have had a few months of pretty stunning numbers," he said. "If you look at the cycles in this industry, the years after recessions have been spectacular." June 9, 2010 Starwood Hotels & Resorts introduced "sustainable meeting guidelines at every North American property," with plans to expand the guidelines to other regions. The Sustainable Meeting Practices program includes 18 elements, including "sustainable menu choices, bottled water alternatives, energy-efficient digital signage and potted plants in place of fresh-cut flowers," according to Starwood. The company also announced an online "Meeting Impact Report" that gives clients a summary of their meeting's environmental impact. June 9, 2010 Interstate Hotels & Resorts promoted to vice president of strategic accounts and global sales Sean McCurdy. McCurdy had been serving as global director of worldwide sales and now "will be responsible for developing and expanding the company’s corporate sales initiatives and expanding relationships with key global accounts," according to the independent hotel management company. May 27, 2010 Hertz Global Holdings expects to complete its acquisition of Dollar Thrifty Automotive Group "in the near future," but DTAG noted "ongoing" due diligence by Avis Budget Group, which intends to make "a substantially better offer." The companies made these latest comments on potential car rental industry consolidation in May 26 filings to the U.S. Securities and Exchange Commission. May 27, 2010 AirPlus said 2009 global charge card volume declined €1 billion year over year, or 6 percent, to €17.1 billion due to both less travel among clients and lower ticket prices. Lufthansa AirPlus managing director Patrick Diemer said 2009 marked the first time in company history that transaction volume dropped, but the "effects were softened by 1,000 new customers globally." In the United States, compared with 2008 the company boosted its customer base by 12.6 percent, revenue by 12 percent and number of card accounts by 1.4 percent. AirPlus International president Richard Crum said U.S. transaction volumes have been rebounding rapidly, up 25 percent year-to-date through mid-May 2010 versus 2009 figures. May 26, 2010 PKF Hospitality Research predicted average U.S. daily hotel rates would drop 1.6 percent in 2010 but occupancy levels would increase 3.4 percent. The "surge in occupied rooms foretells the start of a strong comeback in the demand for lodging," according to PFK president Mark Woodworth. "The magnitude of the turnaround was a very pleasant surprise. Such a large increase in lodging demand suggests a return of pent-up travel that did not occur in 2009." Hoteliers in 49 of the 50 markets covered by PKF's report experienced occupancy gains during the first quarter of 2010 compared with 2009. May 21, 2010 Domestic U.S. airline passenger yield in April increased 11.5 percent year over year to 15.06 cents per mile, according to the Air Transport Association. Defined as the "average price someone pays to fly one mile excluding government taxes and fees," domestic yield increased for the fourth consecutive month. Transatlantic and transpacific yields in April jumped more than 20 percent year over year. May 19, 2010 Omni Hotels & Resorts named Tracie Houston-Amend as its new director of business travel sales. Houston-Amend is responsible for "business travel sales initiatives and strategies" and also will "work to promote the brand through customized multi-hotel agreements with key corporate travel managers." Houston-Amend previously worked in a sales capacity for Kimpton Hotels and the Hotel ZaZa in Dallas and Houston. May 17, 2010 The Amadeus-Sabre Moneydirect joint venture for payment and settlement processing launched multi-currency virtual credit cards, which it said are processed like regular credit cards and can reduce travel suppliers' invoice processing costs by more than 90 percent. "In addition, the virtual credit card captures and tracks important booking details, including the reservation code, requester identifier, traveler name, hotel chain code/name, room type, rate code, hotel confirmation number and check-in/check-out dates," according to Moneydirect, which claims more than 2,000 customers including travel agencies and suppliers. May 13, 2010 The Institute of Travel & Meetings of the UK and Ireland commissioned BCD Travel consulting arm Advito to deliver templates and resources, primarily for UK travel buyers, on policy, requests for proposals and other functions. "Initially all tools will be targeted at those who are new to the industry or work for small to medium enterprises, but ITM and Advito see a natural development of the service to help standardize templates used in the industry for all travel and meeting buyers over time, with the net result that the RFP process becomes more efficient for all concerned," according to the association. May 11, 2010 InterContinental Hotels Group reported first-quarter operating profit of $83 million compared with $72 million a year earlier. Worldwide average daily rate declined 4.5 percent year over year to $103.22 and occupancy increased 2.7 percentage points to 57.2 percent. "Business travel is returning although at this stage mainly to the luxury end of the market, which was most affected by the recession," said CEO Andrew Cosslett. "We expect the more resilient midscale sector to benefit from this trend as the year progresses and market norms are reset." May 6, 2010 Hyatt Hotels reported first-quarter net income of $5 million, down from $14 million the year before. North American business transient and group room nights sold increased 9 percent and 3 percent, respectively, but rates were down year over year. "There has been evolving demand but still some reluctance, and some evidence that people are not making longer-term commitments," said CEO Mark Hoplamazian. May 6, 2010 Choice Hotels officials confirmed the company is considering a new full-service four-star brand and an upscale extended-stay brand. HotelNewsNow quoted Choice CEO Steve Joyce as saying, "Where we really play is in the moderate tier and below, which is half the business. We’d like to play in the other half." May 5, 2010 Orbitz Worldwide said Orbitz for Business enjoyed 25 percent year-over-year transaction growth in the March quarter, including 26 percent more "stayed" hotel room nights. The parent company reported a $5.3 million net loss on 1 percent lower net revenue but 24 percent higher total gross bookings dollar volume. Orbitz for Business won the European business of Cooper Industries and FMC Corporation, and signed renewals with IBM and Yale, the company announced. May 3, 2010 Avis Budget Group "would like to make a substantially higher offer to acquire Dollar Thrifty" than Hertz's $1.17 billion proposal, which it suggested was not the "best possible deal" in a letter sent to Dollar Thrifty Automotive Group's board by Avis Budget CEO Ronald Nelson. Nelson wrote that he was "very surprised" by the offer since there were "several occasions" on which Avis Budget expressed interest in buying Dollar Thrifty but was denied meetings to engage in such discussions. "At no stage over the last several months did [CEO Scott Thompson] or your financial advisor engage us in any discussions about a transaction or offer to provide us with information so that we might submit a bid," wrote Nelson. "Now that we and our advisors have had access to the terms of the merger agreement, we are astonished that you have compounded these shortcomings by agreeing to aggressive lock-up provisions."
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