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Edinburgh urged to halt bed tax plans as hotel trade slumps
NEW city leaders have been urged to abandon plans to revisit the controversial “bed tax” after fresh figures revealed a slump in the Capital’s hotel trade. The data showed room occupancy and revenue declined in March by 3.9 and 8.9 per cent respectively. Edinburgh...
LaSalle Hotel Properties Closes on $177.5 Million Term Loan
LaSalle Hotel Properties (NYSE:LHO) today announced that it has closed on its new $177.5 million term loan. The seven-year term loan matures on May 16, 2019. The term loan was swapped to a fixed interest rate for the full seven-year term. The term loan’s...
Compass Group enjoys strong results worldwide, despite tough economic conditions in Europe
Compass Group has reported a positive global performance for the first half of its financial year, but difficult economic conditions in Europe continue to hamper growth in the UK. Total revenue for the world’s largest contract caterer was £8.6b...
Thomas Cook’s stark warning to shareholders
Thomas Cook has warned shareholders that unless they approve the sale of some of its aircraft and its interest in a Spanish hotel chain, the tour operator could be in trouble. It has called a general meeting on 29 May for shareholders to approve the sale...
Wyndham Worldwide Corporation Declares Cash Dividend
Wyndham Worldwide Corporation (NYSE: WYN) announced today its Board of Directors declared a cash dividend of $0.23 per share on its common stock, payable June 8, 2012 to shareholders of record as of May 24, 2012. About Wyndham Worldwide As one of the...
Qatar to invest $17bn in hospitality sector
DOHA: Qatar is set to invest an estimated $17bn on tourism-related infrastructure projects overseen by Qatar Tourism Authority (QTA) in the next five years. The volume of hospitality projects is particularly increasing at an accelerated pace as Qatar...
There’s room at inn for Olympics—but it’ll cost
LONDON—It’s months before athletes hit the Olympic track, but time is running out for those in another fierce competition: The scramble for a place to stay in London. Some innkeepers will be charging Ritz rates for Fawlty Towers rooms—and they...
Boom or not: Dubai hotel room rates hit all-time high
Average room rates in Dubai surge 51 per cent in six months to reach a high of Dh1,255 per night. A series of tourism events held in the city throughout the month of March, including several exhibitions and high profile sports events such as Dubai Duty...
HVS’s Hospitality Investment Conferences in Asia Conclude With Record Attendances and High Notes
April 2012 resulted in a successful conference month for HVS, as we hosted our CHIC and HICSA Conferences in China and India, respectively,” states Steve Rushmore, CO-President and Founder of the firm. “With powerful themes and prestigious...
