Skift Take Mohammed bin Salman bin Abdulaziz creates a new development company to help realize his tourism sector dreams. Josh Corder The Public Investment Fund (PIF) of Saudi Arabia has formed another development company, Ardara, solely focused on the upcoming AlWadi destination. Launched by Mohammed bin Salman bin Abdulaziz, who serves as PIF’s chairman, Ardara adds to the crown prince’s...
Skift Take Airlines saw capacity and passenger traffic recover to pre-Covid levels and opened up their checkbooks to sign deals for their long-term future with new aircraft. Ajay Awtaney Global aviation had a dream run in 2023. Everything that went wrong during the pandemic seemed to reverse – and then some. It wasn’t all smooth. Airlines went bankrupt (Go First), mergers got announced (Hawaiian...
Skift Take Carnival Cruise executives don’t see the macroeconomic slowdown everybody is talking about. Dawit Habtemariam Carnival Cruise executives had their conference call to discuss third-quarter results Friday, and Wall Street analysts kept asking about the risk of a consumer slowdown. The answer was always the same: “We’re trying to say it as plainly as we can. We just have not seen...
Skift Take Both 2022 and 2023 were banner years for U.S. hotels. But owners and operators may face more headwinds when it concerns bottom-line profitability in 2024. Sean O’Neill Hoteliers in numerous U.S. markets in 2022 and 2023 found travelers happy to pay greater space rates post-pandemic. Robust rates allowed numerous operators to equal inflationary operational expenses and financial...
Daily Lodging Report
Leela Owner Files for an IPO
Schloss Bangalore, owner of The Leela hotel chain, has applied for a US$ 599 million IPO to money growth and financial obligation repayment, with Morgan Stanley, BofA Securities, JPMorgan, and Citi handling the problem.
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Online Travel
10 Things We Learned at the Skift Global Forum
Executives speaking at this year’s Skift Global Forum used no shortage of viewpoints about the existing state and future of the travel industry, and here are a few of the most notable remarks.
Lex Haris, Sean O’Neill, Meghna Maharishi, Rashaad Jorden, Dawit Habtemariam, Justin Dawes, Skift|2 days ago
Skift Take The current predictions from WTTC not only verify India’s status as a growing tourist powerhouse, however likewise underscore the nation’s immense potential in the global tourist landscape. Peden Doma Bhutia India’s travel and tourist sector is poised to contribute $200 billion (Rs16.5 trillion) to the nation’s economy in 2023, just 3.5 percent listed below...
In the ever-evolving landscape of health and wellness, an extremely reliable new class of medications have actually caught the spotlight. The drugs, referred to as GLP-1’s, have trademark name like Ozempic and Mounjaro. They were initially created as diabetes medications and work by affecting how the body regulates insulin and hold-ups gastric emptying– therefore making users feel...
Skift Take There are financial pressures and segment-specific obstacles, such as growing supply in the luxury market. Sean O’Neill STR and Tourism Economics lowered their forecast for U.S. hotel demand development today. The benchmarking firms now predict a more modest 2.1% boost in typical everyday rates this year– below the previous price quote of 3.1%. “Everyone in the hotel...
Skift Take Oyo’s potential IPO has most likely run head-on into the collapse of a number of recent public market debuts in India with a number of claims possibly figuring into the regulator’s postponed decision. Oyo will eventually go public, however that first public appearance likely won’t look like the initial vision. Dennis Schaal Softbank-backed Oyo’s hoped-for and...