Credit Crunch
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Westin Bed Innovator Sue Brush Reflects On A Heavenly Career
… t met in the marketplace. We feel very comfortable about the survival and success of those two brands. BTN: Has the credit crunch had much effect on development? Brush: Just from development for Westin, the hotels we're planning to open this year …
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Companies Shift To Central Pay
… impact of the economic downturn on corporate payment structures might not yet be fully realized, particularly in light of the credit crunch . "We anticipate seeing a delayed reaction in the increased demand for central pay programs from companies that experience …
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Travel Freezes, Cutbacks Rapidly Spread in Germany
… up new contracts," he said. "Restricting contact with clients is potentially disastrous. It is the equivalent of the credit squeeze in the banking sector. Suppliers and government have to act now to halt this trend." Kirnberger called on airlines to …
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New Dolce CEO To Further Conference Center Chain's Evolution
… majority stake in Dolce (BTNonline, Oct. 8, 2007). Despite the hotel development financing difficulties triggered by the credit crunch , chairman Dolce is confident that the company, with Rudnitsky at the helm, will meet its development goals. The focus …
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Marriott Profits Plummet, U.S. Revenues To Decline
… Supply growth coupled with that demand drop will weaken hotel performance those two years, although the firm expects the credit crunch will begin to cut supply growth after that point. Marriott reported that it has opened 200 hotels in the past 12 months …
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Fuel Costs Demand Legislative Action, Sabre CEO Tells NBTA
… the weakened dollar. The Federal Reserve put down interest rates very quickly last fall and early this year to ease the credit crunch . We saw the price of oil rise dramatically in tight correlation over that same period. We need interest rates to go back …
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Industry Sees Air Bankruptcies, Liquidations On The Horizon
… for a United or Delta to enter Chapter 11," he said. "There's not as much upside in restructuring the costs." The credit crunch has made reorganization financing elusive. "It's much more difficult to get financing for any length of time," AlixPartners …
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The International Air Transport Association said slower January global passenger traffic growth makes it clear that the U.S. credit crunch is negatively impacting air travel(3)
The International Air Transport Association said slower January global passenger traffic growth "makes it clear that the U.S. credit crunch is negatively impacting air travel ." January traffic grew 4.3 percent year-over-year, down from the 7.4 percent recorded for full-year 2007. European airlines ...
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Hotels Report Strong Q4 Earnings, Predict Slower Growth In 2008
… reached a record 125,000 rooms. This year, Marriott expects to open another 30,000 rooms, CFO Arne Sorenson said. The credit crunch is unlikely to heavily affect that pipeline, as 60 percent of those hotels are domestic limited-service properties, in …
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The International Air Transport Association reduced its 2008 global airline industry profitability forecast to $5 billion from $7.8 billion
. The group cited higher fuel prices and slower revenue growth resulting from "the broadening impact of the credit crunch ." IATA director general and CEO Giovanni Bisignani said, "The peak of the business cycle is over and we are still US …
