Dead Cat BounceSO many people trying to talk up the travel industry at the moment but three “Sales” emails in three days from Accor Hotels Asia Pacific, Oaks Hotels & Resorts, and Mantra Hotels, Resorts and Apartments suggests that the recovery, if it’s on, is patchy. No question some markets are doing well – Sydney had a huge events-driven February – but others remain soft or under threat; eg Melbourne hotel market is facing dramatic oversupply.

Conflicting signals also in travel retail. Flight Centre half year profit up 96% off low base, Jetset Travelworld down 68%. Meanwhile, online retailers like booming, wholesaler Cox and Kings optimistic, others not so sure. Rebound or dead cat bounce? Yes and no. Hard to not think that some of those on the floor may never get back up.

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