Traditional agency group Jetset Travelworld announced a net profit of $19.2m for 2010/11. CEO Peter Lacaze predicts demand for inbound and outbound travel to grow 5% over the next year but is bearish on inbound, which he expects to “weaken further”. Constellation Hotels has been sold to private investment firm Nadarthur Fareast, based in Singapore. Constellation operates the Chifley, Country Comfort, Sundowner Motels and Australis Resorts brands. Tiger Airways founder Tony Davis has “resigned” from the besieged carrier and is fulfilling a long-held desire to return to Europe. That’s the official spin on his departure following a disastrous few months for the carrier.

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