Turkish Airlines, a leading global airline, has mandated the first financing structure to use the Sompo AXIS Aviation Finance Insurance (SAAFI), Aviation Non-Payment Insurance (ANPI) product. This transaction, sealed at a signing ceremony in Tokyo, Japan, marks a significant milestone in aviation financing insurance as it is the first time SAAFI has been mandated following its launch earlier this year.

The World Travel & Tourism Council (WTTC), the global body representing the Travel & Tourism private sector, today announced its latest Economic Impact Research which found that the U.S. is on track to lose a staggering $12.5BN in international visitor spending this year. Notably, international visitor spending to the U.S. is projected to fall to just under $169BN this year, down from $181BN in 2024.

Wyndham Hotels & Resorts, the world’s largest hotel franchising company with approximately 9,300 hotels spanning more than 95 countries, has entered into an exclusive development agreement with Le Park Concord Company to launch its iconic Super 8® by Wyndham brand in the Kingdom of Saudi Arabia. With plans to open 100 hotels over the next ten years, the agreement reinforces Wyndham’s long-term commitment to quality, accessible and sustainable hospitality development in the region. The signing was executed with the active support of the Ministry of Tourism of Saudi Arabia, further underlining the initiative’s alignment with the Kingdom’s national tourism goals.

In partnership with WATANIAH Business Group, SOPHOS Hotels SA, one of the leading Third-party hotel operator, is set to manage a Le Meridien, one of Marriott International’s premium brands, in Tabuk. Marking a significant milestone in the Kingdom’s evolving hospitality landscape. Sophos have signed this agreement to operate a property that is strategically located at a crucial commercial and logistical hub, bordering Jordan, the Red Sea, and other emerging regions across Saudi Arabia. With construction already advancing, the hotel is moving ahead and foreseen to open its doors Q1 2026.

“The signing of The St. Regis Jeddah reflects our commitment to expand our portfolio of brands and experiences in the Kingdom,” said Karim Cheltout, Senior Vice President, Development, Middle East & Africa. “Jeddah continues to be an important business and leisure destination in the region, and a gateway to Makkah and Medina. We look forward to offering locals and travellers to the city the St. Regis’ legendary service, modern glamour and distinctive luxury experiences.”

Gloria Guevara, the leading candidate for Secretary-General of UN Tourism, today called for independent election observers to be present at the upcoming 123rd Executive Council leadership vote taking place near Madrid at the end of this month. In a move aimed at ensuring full transparency and integrity in the electoral process, Guevara urged all candidates to support the presence of neutral, internationally recognised observers to oversee the proceedings.