U.S. hotel gross operating profit per available room (GOPPAR) exceeded the pre-pandemic comparable and was the highest since October 2022, according to STR‘s February 2023 P&L data release. EBITDA was the only key bottom-line metric on a per-available-room basis to come in lower than February 2019.
UNWTO unites South East Europe tourism ministers around shared sustainability goals
UNWTO celebrated the Future of Environmental Sustainable Tourism in Albania (FESTA), setting the foundations for unprecedented high-level collaboration among Tourism Ministers in the region (Tirana, 3-5 April).
Accor bolsters its Melbourne portfolio and signs Mercure Melbourne St Kilda Road
Australia and New Zealand’s largest hotel operator, Accor, is thrilled to be expanding its portfolio in Melbourne and pleased to announce a signing agreement with Melbourne identity, Albert Dadon of Ubertas Group, to open a Mercure on Melbourne’s majestic St Kilda Road.
Marriott International launches new people brand “Be” to grow and empower global workforce
Today, Marriott International, Inc. announced it is launching its new people brand, “Be,” as the company continues its focus on attracting and retaining top talent around the world. The brand is launching as Marriott is named one of the top ten Fortune Media and Great Place To Work® 100 Best Companies to Work For® – a position Marriott has upheld since the list was established over a quarter century ago.
Albanian Prime Minister welcomes UNWTO Leadership and embraces shared goals
UNWTO Secretary-General Zurab Pololikashvili has met with His Excellency Edi Rama, Prime Minister of Albania, to explore shared priorities for boosting tourism’s role in economic development and social opportunity.
Anantara Desaru Coast Resort and Villas vows to protect local rainforest with the Launch of ‘Dollar for Deeds’
Located along 17 kilometres of unspoiled beachfront and adjacent to the protected mangroves of Belungkor, Anantara Desaru Coast Resort & Villas is surrounded by pristine nature. Protecting it is the goal of the new ‘Dollar for Deeds’ sustainability initiative the resort is launching from April 2023.
Despite increase in cost of funds and liquidity constraints, Saudi banking industry reported robust growth in 2022
With the global banking industry making headlines in the past weeks, the Saudi banking sector published its annual results for 2022. According to KPMG, a leading provider of audit, tax and advisory services, in its annual market update, the consolidated numbers for the ten Tadawul-listed banks reflect a robust performance, particularly indicating an increase in net profit by 28%, reaching SAR 62.71 billion ($16.7 billion). The growth trajectory is expected to continue on account of consistent demand for public and private sector financing and the availability of non-interest-bearing deposits.
Radisson Hotel Group releases its 2022 Responsible Business report outlining milestone achievements
Building on its long heritage as a leading sustainable hotel group, Radisson Hotel Group had a successful 2022 in which…
U.S. hotel results for week ending 25 March
Reflecting the normal ebb and flow of spring break season, U.S. hotel performance decreased from the previous week, according to STR‘s latest data through 25 March.
CNN’s Hidden Treasures explores China’s unparalleled culture and history
Few places capture the imagination quite like China. With its borders now reopened to foreign visitors, CNN highlights China’s Hidden Treasures in a special 30-minute travel program, exploring remote tea plantations, surfing the waves off the country’s southern coast, and strolling through age-old markets where artisans keep ancient traditions alive today.
