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  • China – the hot number 1 tourism source market on this planet

    China’s expenditure on travel abroad reached US$102 billion in 2012, making it the primary tourism source market on earth when it comes to spending. Other emerging markets in addition to most conventional tourism source markets also showed positive ends in 2012.

    Over the past decade China was, and still is, by far the fastest-growing tourism source market on this planet. Owing to rapid urbanization, rising disposable incomes and relaxation of restrictions on foreign travel, the quantity of international trips by Chinese travelers has grown from 10 million in 2000 to 83 million in 2012. Expenditure by Chinese tourists abroad has also increased almost eightfold since 2000. Boosted by an appreciating Chinese currency, Chinese travelers spent a record US$102 billion in international tourism in 2012, a 40% jump from 2011 when it amounted to US$73 billion.

    With this sustained growth, China has become the most important spender in international tourism globally in 2012. In 2005, China ranked seventh in international tourism expenditure, and has since successively overtaken Italy, Japan, France, and the uk. With the 2012 surge, China leaped to first place, surpassing both top spender Germany and second largest spender Usa (both with reference to US$84 billion in 2012).

    Some of the opposite emerging markets have also increased their share of worldwide tourism spending during the last decade. Many of the world’s top 10 source markets by expenditure, the Russian Federation saw a rise of 32% in 2012, to US$43 billion, bringing it from the 7th to 5th place within the ranking of international tourism spending. Worth mentioning beyond the pinnacle 10 is Brazil, with an expenditure of US$22 billion in 2012, moving to 12th place up from 29th place in 2005.

    “Emerging economies continue to guide growth in tourism demand,” said UNWTO Secretary General, Taleb Rifai. “The impressive growth of tourism expenditure from China and Russia reflects the entry into the tourism market of a growing middle class from these countries, surely continue to vary the map of worldwide tourism,” he added.

    Although the very best growth rates in expenditure abroad came from emerging economies, key traditional source markets, usually growing at a slower pace, also posted positive results. Spending on travel abroad from Germany and america grew by 6% each. Spending from the united kingdom (US$52 billion) grew by 4% and the rustic retained its 4th place within the list of major source markets. Expenditure by Canada grew by 7%, while both Australia and Japan grew by 3%. Then again, France (-6%) and Italy (-1%) were the only real markets inside the top 10 to record a decline in international tourism spending.

    Full data on international tourism expenditure and receipts could be published within the forthcoming issue of the UNWTO World Tourism Barometer, to be released end of April.

  • Vail Resorts announces record capital plan for 2013

    Vail Resorts, today announced its calendar 2013 capital expenditure plan.  The Company’s 2013 capital plan features a high-impact new lift, significant terrain expansion, a brand new restaurant and the fourth generation of EpicMix, in addition to $25 million in spending for the primary phase of its new summer operations and nearly $10 million in upgrades for every of the recently acquired Afton Alps and Mt. Brighton, leading to the most important choice of planned improvements inside the Company’s history.  The corporate currently anticipates it is going to spend approximately $130 million to $140 million in resort capital expenditures in calendar year 2013, including approximately $47 million to $52 million in maintenance capital, that’s essential to maintain the looks and level of service appropriate to resort operations, including routine replacement of snow grooming equipment and rental fleet equipment.  The entire proposed capital projects are subject to applicable regulatory approvals, including U.S. Forest Service approval.

    Highlights of the calendar year 2013 capital expenditure plan include:
    Epic Discovery – This primary phase of Epic Discovery, the Company’s summer mountain activity plan, includes approximately $25 million to radically change the summer experience at six of its mountain resorts (Vail, Beaver Creek, Breckenridge, Keystone, Heavenly and Northstar).  Plans for every mountain, include a diffusion of zip lines, ropes courses, signature climbing walls, Forest FlyersTM, summer tubing, expanded hiking and mountain biking trails and education centers.  Each of those new activities will capitalize at the existing summer visitation at each resort and leverage existing infrastructure, creating the chance for top-impact and high-return projects.  The corporate expects these activities, in total, to generate approximately $7 million of incremental Mountain Reported EBITDA of their first full summer of operation.

    Improvements at Afton Alps & Mt Brighton – The corporate is planning major enhancements and upgrades to the newly acquired Afton Alps near Minneapolis, Minn., and Mt. Brighton near Detroit, Mich.  The corporate plans to take a position nearly $10 million at each resort to bring a wholly new ski experience to those markets, that are home to greater than 450,000 skiers and riders.  The Company’s plans include dramatic improvements in snowmaking to increase the season and supply a more consistent and quality snow surface, the creation of state-of-the-art terrain parks with extensive new features, animation and dedicated lifts; upgrades to base area facilities; the addition of EpicMix, EpicMix Racing and raise ticket scanning to personalize the guest experience and higher promote the Company’s western resorts to those skiers; and enhancements to guest safety and quality around the ski areas.  These improvements are being announced inclusive of new season pass plans for the resorts and a more dedicated sales effort in those markets to drive a more robust connection between those guests and the Company’s Colorado and Tahoe resorts.  The corporate believes that following these plans, future capital spending at each resort shall be more limited in scope.

    Peak 6 terrain expansion at Breckenridge – The height 6 terrain expansion includes two new chairlifts and 543 acres of recent terrain, a 23 percent expansion to the resorts skiable acreage.  Peak 6 will offer an intermediate “bowl” skiing experience, with the chance for a wide selection of guests to ski this new high alpine area that sits above tree line.  Peak 6 becomes another iconic feature of Breckenridge, and can better disperse skiers and improve the guest experience around the resort, that is perennially the #1 or #2 most visited mountain resort within the America.

    New Red Tail Camp restaurant at Beaver Creek – Just before the 2015 World Alpine Ski Championships, the corporate is building a brand new 500 seat restaurant at Red Tail Camp, located on the finish of the men’s and women’s downhill courses, which greater than doubles the present restaurant’s capacity.  Red Tail Camp will offer gourmet dining options in an upscale cafeteria setting and should add a second top quality and high capacity dining venue for Beaver Creek, better positioning the resort for continued growth in visitation.  The brand new restaurant will follow at the success the corporate has had with the Tamarack Lodge at Heavenly, the Zephyr Lodge at Northstar and The 10th at Vail. 

    Replacing Vail’s Chair 4 (Mountain Top Express) with a high speed, six-person chairlift – Vail’s Mountain Top Express (#4) is among the most recognized and highly utilized chairlifts in North America- serving both a critical skiing pod for the mountain and an incredible transportation lift from Lionshead and Vail Village to the Back Bowls and Blue Sky Basin.  The hot six-person chairlift increases capacity by 33 percent, dramatically reducing lift lines and building in this year’s success of the newly built Gondola One.  The recent chair will continue to construct upon Vail’s preeminent position in delivering the most efficient valuable experience within the ski industry worldwide.

    EpicMix Academy – EpicMix Academy stands out as the fourth generation of the groundbreaking and award-winning EpicMix application, following the introductions of EpicMix Photo and EpicMix Racing.  With EpicMix Academy, the Company’s ski school instructors could be capable of certify the attainment of certain skills and ski levels for any of the scholars of their classes.  Children and adults in both group and personal ski lessons may be capable of earn permanent recognition and review their accomplishments online.  Parents might be ready to track the progress in their kids and the Company’s ski schools will immediately know the facility level of each student before the beginning of every lesson.  EpicMix Academy will offer special certified digital pins, which might be easily shared through Facebook and Twitter along side pins for vertical feet, photos and racing medals.

    The Company has historically invested significant profit capital expenditures for resort operations and believes the calendar 2013 capital plan maintains the high-quality standards for which Vail Resorts is famous and invests in improvements around the Company’s resorts and new growth opportunities.  All discretionary capital improvements are evaluated in accordance with an expected level of return on investment. The corporate plans to make use of cash accessible, borrowings available under its Credit Agreement and/or cash flow generated from future operations to supply the money essential to execute its capital plans.

    Commenting at the resort capital expenditure announcement, Rob Katz , chief executive officer, said, “The 2013 capital plan is unprecedented in its size and underscores our operating philosophy of regularly reinvesting in our resorts to provide absolutely the most beneficial experience to our guests and highlights several of our unique growth opportunities in Epic Discovery and newly acquired resorts.  Our commitment to repeatedly investing in our resorts to improve the guest experience grows our season pass programs that create customer loyalty, supports our premium pricing strategy, drives new visitation, and increases guest spending.  This year’s plan represents the culmination of a few years of exertions with recent regulatory approvals making an allowance for projects including Epic Discovery and the height 6 terrain expansion at Breckenridge, in addition to a focused acquisition strategy that permits for a much better connection to skiers and riders in Minneapolis and Detroit.”

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  • News: Finnair to go into joint business with American Airlines, British Airways and Iberia

    American Airlines, British Airways and Iberia celebrate a key milestone today as fellow oneworld® alliance member Finnair announces its intent to hitch the transatlantic joint business, established by the 3 airlines in October 2010.

    Once Finnair joins the transatlantic joint business later this year, customers in North America and Europe may have increased number of flights and services in addition more straightforward connections to flights around the Atlantic.

    As a part of the joint business, Finnair will add its (AY*) code to chose American Airlines, British Airways and Iberia flights between North America and Europe (EU, plus Norway and Switzerland). American Airlines, British Airways and Iberia will add their respective (AA*), (BA*) and (IB*) code to Finnair’s daily flights between Big apple and Helsinki.  All together, the joint business will operate as much as 102 daily round trips between North America and Europe, serving 42 gateways on both sides of the Atlantic. Customers will even have access to an extra 163 onward connections in North America and 126 in Europe.

    New horizons for patrons on either side of the Atlantic

    Benefits for purchasers of the four airlines include:

    *  Coordinated schedules on joint business routes, providing customers with more flight choices and more straightforward times
    *  Members of the four airlines’ frequent flyer programs – Iberia Plus, American Airlines AAdvantage®, British Airways Executive Club and Finnair Plus – would be capable of earn points or miles at the new codeshare flights
    *  Dedicated support teams for purchasers transferring at seven of the airlines’ hubs: Big apple JFK, London Heathrow, Madrid, Chicago, Miami, Dallas and La.
    *  Online check-in and boarding pass printing with either the airline operating the flight, or the web site of the airline used to book travel

    “Our participation on this venture will significantly increase the portfolio of accessible destinations to Finnair’s existing customers, in addition to open up Northern Europe to a complete new network of potential travellers,” says Allister Paterson, Finnair’s Senior Vice chairman, Commercial. “Fare combinability between the four carriers also brings more ticket flexibility to customers, because the fares and prerequisites are identical between the airlines. A business traveler soon should be ready to combine American, British Airways, Iberian and Finnair routes flexibly when flying between Europe and North America.”

    “American Airlines is delighted to welcome Finnair to the transatlantic joint business and leverage its extensive network across Northern Europe,” says Kurt Stache, American Airlines’ Vice chairman, Strategic Alliances. “The existing joint business has already brought many opportunities to our customers in its first two years along with coordination across schedules and enhanced frequent flyer benefits on each carrier. American looks forward to even greater integration around the four airlines that Finnair’s arrival will bring to the expanded joint business.”

    “British Airways looks forward to Finnair joining the transatlantic joint business this year,” says Simon Talling-Smith, Chair, Atlantic Joint Business Management Committee, “the addition of the Helsinki hub to our joint business network will bring faster and easier connections for patrons on hundreds of city connections between Europe and North America. We’re excited with a view to offer more choice and new benefits to all our customers.”

    “We are happy to welcome Finnair into the North Atlantic Joint Business,” says José Bolorinos, Iberia’s Senior Vice chairman, Strategy. “Finnair have been a very good partner of Iberia for decades. We started our code share cooperation with them within the year 2000. We’re sure their contribution will significantly expand the reach of the oneworld North Atlantic JB in Northern Europe and offer more service options for our customer.”

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  • Dedicated website for Turkish literature launches

    A new dedicated website has just launched for Turkish literature on the 2013 London Book Fair, where will probably be this year’s Market Focus country.

    www.lbf2013marketfocusturkey.com is the indispensable guide to Turkey’s Market Focus programme on the London Book Fair 2013, where there’ll be plenty of enjoyable and informative events on Turkish literature, poetry and language and engaging exhibitions of publications and standard crafts. This website for Turkish literature and Turkey as Market Focus country on the London Book Fair 2013 contains full details of events, biographies of participating authors and what you could anticipate finding on the Turkey stand.

    The website also gives information on:

    Ø  Other Turkish literary events within the UK. an entire programme of events putting Turkish literature under the spotlight is being held on the Yunus Emre Cultural Centre, in Maple Street W1, the British Library, LSE and other locations around London in addition to in Cardiff, Edinburgh and Liverpool until May accompanying the focal point on Turkey on the 2013 London Book Fair.

    *  Turkish literature and authors. The web site provides a comprehensive introduction to Turkish literature with downloadable books, an A-Z of participant authors and panellists and plenty of background information.

    *  Turkish publishing industry. There’s information on a lot of Turkish publishers and literary agencies at the side of their contact details.

    *  Turkish book market. A downloadable guide to the Turkish book industry gives useful statistics and details of book fairs in Turkey, grants, in addition publishing, translation, bookselling and writers associations.

    *  Book catalogues. Produced specially for the London Book Fair, downloadable book catalogues give detailed information on publications and their authors in quite a number fields, including children’s books, contemporary art and literature, in addition to catalogues detailing illustrators and publishers of Turkish books.

  • Paramount launches $1bn project in Dubai

    Film company Paramount has revealed that it’s teaming up with Damac Properties to launch a hotel and serviced apartment project in downtown Dubai.

    The $1bn four-tower project, The Damac Towers by Paramount, will comprise a 540-room Paramount Hotel & Residences and greater than 1,400 units of Damac Maison – Paramount co-branded serviced hotel residences.

    The 250-metre high towers, in an effort to be connected by a multi-level plaza, represent Paramount’s first venture into the hotel and real estate industry. Features will include themed F&B concepts, meeting facilities, a screening room, fitness centres, pools, kids club, retail, and merchandise all featuring the Paramount brand or select partner brands.

    One tower will comprise of the Paramount Hotel & Residences with the rest three towers, housing the Damac Maison – Paramount co-branded serviced hotel residences.

    “The history, glamour and tradition of the flicks indirectly transcend every part of the design and ethos of this aspirational project,” said Damac Properties Managing Director Ziad El Chaar.

    “We will employ a similar, tried and tested production process, pioneered by Paramount Pictures on the studio, to direct, design and detail a global-class experience. The Paramount brand stands for greater than exceptional film and entertainment: it’s an inviting lifestyle.” Adds El Chaar.

    The towers, that are currently under construction and are expected to be completed by the tip of 2015, consistent with reports.

    Paramount Hotels and Resorts was established by a bunch of investors in Dubai last year and has a license from Paramount to construct a sequence of Paramount-branded hotels and houses.

    The company plans to confide in 50 Hollywood- and California-themed luxury hotels worldwide.

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