London’s oldest tour operator, the Travel Club of Upminster, has gone into administration after “very difficult trading conditions” left it unable to guarantee payments to overseas supplies.
The U.S. hotel industry has suffered greatly amid the U.S. recession. Total hotel room revenue has been in freefall with double-digit declines for 2009.
Despite the global economic slowdown that adversely affected the commercial aviation industry worldwide, the Middle East has been one of the few markets to register growth. The air taxi business is expected to be a major driver for this market.
Despite the global recession, the online travel marketplace in China is growing rapidly and PhoCusWright predicts online travel revenue will increase by 19% in 2009.
As recession conditions linger, the travel industry continues to seek out ways to reach, and excite, its audience into parting with discretionary dollars. American Airlines thinks food could be that special ingredient.
In these economically challenging times, many experts say it is vital to invest in preventative healthcare. Better overall health means lower medical bills.
Thanks to the recession here in the UK (along with the weather) many people are packing their briefcases and leaving the country for a life down under. Global Visas, who provide immigration and visa advice for professionals, have seen a 123% increase in the number of British customers seeking to acquire an Australian work visa in the past year.
The great subprime recession is over. Federal Reserve Chief Bernanke says so. Wall Street says so. Airlines are gearing up for a massive recovery. Hotel stocks are getting buy ratings from analysts. Vegas is back. Travel stocks across the board are zooming into the stratosphere, and we’re now in the initial stages of a sustained recovery.
As the worldwide recession hits every type of travel industry like airlines, car rentals and hotel occupancy, cruises in Alaskan waters are also taking a downturn. However with the cruise ship business it makes up a considerable amount of the tourism revenue for the state.
Joe Byrne of Tourism Ireland discusses the economic challenges that face Irish Tourism and the marketing strategy used in the midst of the recession.
UK hotels are starting to see the light of the long dark tunnel, according to new research from business advisory specialist, Deloitte.Whilst revenue per available room (revPAR) remains negative, the pace of decline is reducing and some markets are showing gains on 2008 numbers with strong leisure demand driving up weekend occupancies and revenues, say the new figures. There is also a trend of improving performance in the weekday corporate business market in London.
The current difficult economic context has led to a dramatic decrease in air traffic. This has been particularly strong for European Business Aviation traffic which is down 20% compared to a year ago.