Travel technology company Serko 's revenue for the NZ financial year ending 31 March will be 4-6% lower than the NZD11m originally forecast due to product and software delays. More
The perils of globalisation without localisation. US company Hotels.com has just launched a 'Spring Sale' to its Welcome Rewards members in Australia and no doubt the rest of the Southern Hemisphere. What's wrong with that? It's Autumn south of the equator. Or maybe we should start calling it Fall.
History repeats. It's been the mantra of hotel revenue management since it's become sort of sexy, in a hot accountant kind of way, among hotel managers over the past decade or so.
But Patrick Andres reckons that while the past has relevance, the future is equally important in terms of modelling how far hoteliers can push rates and increase the bottom line without hurting occupancy. More
The Macau Government's all-in bet on gambling tourism is looking like a loser with gaming revenues collapsing -49% in February. It's the ninth month in a row that Macau's gambling returns have fallen following the Chinese Govt's graft crackdown, More
Hotel room rates in Australia grew just 1% in 2014 despite high demand across key markets while Asian room rates fell for the second year running and are barely ahead of where they were 10 years ago, according to the latest Hotels.com Hotel Price Index. More
Genting Hong Kong has consolidated its position as Asia's leading cruise company with the purchase of Crystal Cruises from Japanese company NYK for USD550m.
Out-performance of its CBD properties, where revenue increased 13.5%, under-pinned the half year results for hotel, resort and serviced apartment operator, Mantra Group, the share price of which has virtually doubled over the past eight months – from a low of $1.69 to $3.25 this morning. More
Tax breaks for travel businesses and an extra USD10m funding for the Hong Kong Tourism Board are among initiatives announced by the Hong Kong government yesterday to help the enclave rebound More
The Qantas Group today announced its best first-half result since 2010 – an underlying profit before tax of $367m for the six months to Dec 31. All "operating segments" were profitable. More
Travel retailer Helloworld (HLO) is edging toward profitability while still adjusting to the reality of having fewer stores than it did before (mostly) transitioning to a single new brand. More
It seems Agoda has taken immediate advantage of the controversial Expedia/Wotif commission rise from 12% to 15% by doing exactly the same thing. More
Flight Cente's first half net profit fell -9.5% to $100m despite the travel retailer posting record sales of $8.14bn, an increase of 8.8% for the six months to December 31, 2014. More
Fiji's tourism industry, which faced many challenges during 2014 including the departure of key staff from Tourism Fiji, has just announced a record number of tourists visited during the year - 692,630 up 5.3%. Most growth was from NZ and Australia.
The ski industry is a simple business. If it snows, you do really well. If it doesn't times are tough, as they were for Thredbo in 2013, a poor season stalked by rain. More
Helloworld shares surged almost 30% today after it was revealed Sintack, a company associated with the Alysandratos family, bought 30.8m shares from UBS Australia for $12m, or 39 cents a share. More
One step forward, two steps back for Virgin Australia, which announced its half-year results today. They revealed that while the airline is making great progress as a full-service domestic carrier, its international business is going from bad to worse. More
Webjet, thanks to new acquisition SunHotels and good performance from its core Australia/NZ markets, has announced a 22% increase in TTV to $620m for the second half of 2014, though net profit remained static at just over $9m. More
Expedia is attempting to move all Wotif.com contracted properties onto a single company-wide contract and is raising site commission for larger producers from 12% to 15% – an increase of 25% – four months after buying the Australian OTA. More
Starwood Hotels CEO Frits van Passschen has resigned under pressure from a board and shareholders dissatisfied by the total returns under his watch – 10% over the past year compared with 30% for peers such as Marriott and and Hilton Worldwide – and the slow rate of growth in properties under management. More
Cash may still be king in Myanmar, the most undeveloped of all Southeast Asian economies, but this week marks the launch of the country's first e-commerce payments platform, a move experts believe will stimulate all aspects of the Myanmar economy, including travel. More
When Flight Centre announces its half-yearly results on Feb 24, sure as night follows day the retailer will be asked about the falling Aussie dollar and its impact on outbound travel. More
The highly-publicised $30m revamp and relaunch of Blue Mountains icon – the Hotel Hydro Majestic in Medlow Bath – has been met with a mix of jubilation and castigation. More
Expedia has agreed to buy Orbitz for USD1.6 billion, or $12 a share. There's still some regulatory hurdles to overcome but it looks like a done deal. The acquisition follows Expedia's purchase of Wotif Group last November and Travelocity in January. More
Hilton Worldwide has closed the USD1.95 billion sale of the Waldorf Astoria to the Ambang Insurance Group from China and reinvested most of the proceeds in five more US properties – four of them in Florida – a parlay that cost the company USD1.76 billion. More