Two major hotel groups are reporting surging numbers, further proof that the travel recovery is very real. Ongoing strength in leisure travel and an acceleration in the recovery of group demand pushed Marriott International’s second-quarter performance to or above 2019 levels. Hilton also is reporting much stronger numbers than expected. Excluding its hotels in the Greater China region, Marriott’s global June revenue per available room (RevPAR in hotel parlance) came in at 1% above 2019 levels, Marriott CEO Tony Capuano said during the company’s second-quarter earnings call, according to Hotel News Now. Worldwide occupancy reached 71%, only 5 percentage points Read more
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They still lost nearly $400 million in the second quarter of the year, but Air Canada revenues soared almost five times higher than last year. Canada’s largest airline reported its finances for quarter two today and, despite recent difficulties, sounded an optimistic tone. Officials said the company lost $386 million in the quarter, but that revenues were $3.981 billion; nearly five times the second quarter of 2021. “The past three months have been very challenging for our company, our employees, and customers from an operational perspective,” said Michael Rousseau, President and Chief Executive Officer of Air Canada. “The path to Read more
Air Transat is getting a $150 million assistance package from the Trudeau government. Transat A.T. Inc. announced today that it has reached an agreement with Canada Enterprise Emergency Funding Corporation (“CEEFC”), a federal Crown corporation, to obtain $100 million in added financing, as well as $50 million in credit. “In this final LEEFF (Large Employer Emergency Financing Facility) loan, Transat will receive up to $150 million to protect Canadian jobs and ensure operations can continue, despite the company’s ongoing capital operating challenges as a result of the pandemic,” the government said in a press released. “The amount consists of $100 Read more
Accor Hotels’ business rebounded significantly in the first half of this year after two years of major pandemic-related disruptions in the tourism and hospitality industry, officials say. “In Q2 2022, activity recovered to levels close to, if not above, the 2019 levels in almost all of our geographies. The only laggards were China, which is impacted by travel restrictions as part of its strict enforcement of a “zero-Covid” policy, and South East Asia, which is highly dependent on Chinese visitors,” officials said. This rebound reflects both the recovery of the number of business and leisure domestic guests, and border reopenings, Read more
WestJet’s acquisition of Sunwing may have a “deep and negative effect on Canadian jobs,” a powerful Canadian union argues. Unifor, which represents some 16,000 airline workers across the country, late last week filed s public interest submission with the Canadian government, arguing that Transport Canada and the Competition Bureau must consider that a Sunwing-WestJet merger could lead to lower wages and lost jobs. “Unifor is concerned that, despite the promises made to create jobs, this acquisition will actually lead to more sub-contracted work with lower wages and precarious conditions,” said Scott Doherty, Executive Assistant to Unifor’s National President. “Not only Read more
