Travel Sector

India and Singapore sign deal for tourism promotion

India and Singapore sign deal for tourism promotion   India and Singapore will work to promote tourism between the two countries under a joint action plan signed between the Tourism Minister Ms. Selja and the Singapore Minister of Trade, Industry and Education S. Iswaran in New Delhi .

Kumari Selja said, "We have great historical relations with Singapore. We want investors from that country to invest in hotels, local tourism and a number of lucrative areas."

Tourism revenue tumbles 17.9 per cent in Greece

Tourism revenue tumbles 17.9 per cent in GreeceAthens  - Tourism spending in Greece fell by 17.9 per cent for the first five months of the year compared to the same time period in 2008, officials said Wednesday.

The data is a further indication that the global recession is hurting the tourism industry.

According to data by the central bank, tourism spending in May fell by 24 per cent, to 824.2 million euros (1.17 billion dollars), compared with 1.09 billion euros in May 2008.

Drop by 23.6 percent seen in Premium air travel in May

Drop by 23.6 percent seen in Premium air travel in May

May saw a faster drop in global airline passenger travel as compared to the previous months, said a trade group Thursday. The group noted that things don't seem to be getting better in the air crisis scenario.

During the month of May, a fall by 23.6 percent was seen in the number of passengers flying on premium tickets, as compared to the May 2008 figures. The International Air Transport Association says that this follows a 22 percent decline in April.

Mahindra Holidays IPO to open on June 23

Mahindra HolidaysMahindra Holidays & Resorts India Limited, a part of the Mahindra Group of Companies, is entering the capital market with a public issue of 92.65 lakh equity shares of Rs 10 each for cash at a premium to be decided through the 100 per cent book building process.

The issue, which will represent 11% of the post-issue paid up capital, will open on June 23 and close on June 26.

It should be noted that, credit rating agency Fitch Rating India, has already assigned '4' out of '5' grading to company IPO, which reflects 'above average fundamentals' of the issue relative to other listed equity securities.

TCI Q4 net dips 28.43% at Rs 11.20 crore

TCI Q4 net dips 28.43% at Rs 11.20 croreTransport Corporation of India (TCI) has revealed that it has recorded a dip of 28.43% in net profit which stood at Rs 11 crore in the fourth quarter of the fiscal ended March 31, 2009.

The company stated in a communiqué to Bombay Stock Exchange that it has clocked a lower profit at Rs 11 crore compared to net profit of Rs 15 crore in the same quarter ended March 2008.

The company's net sales for quarter under review have witnessed a downward trend to Rs 324 crore from Rs 328 crore in the same period last fiscal.

April becomes the month of positive tourist arrivals in NZ due to Easter

New Zealand

It has been confirmed by Statistics New Zealand that visitor arrivals in New Zealand for April 2009 were up by 9% from April last year, increasing by 16,500 to 195,900 for the month.

However, an increase does not mean that the tourism industry can take a sigh of relief, since SNZ warns that the increase came to scene due to the shift in timing of Easter, from March last year to April this year.

Furthermore, the tourist numbers are still down 2% from the same period last year, when the months of March and April are combined.

New Saadiyat Construction Village announced by TDIC

New Saadiyat Construction Village announced by TDIC On Sunday, the Tourism Development and Investment Company (TDIC), Abu Dhabi's major tourism asset developer, announced that it is constructing a Dh1 billion labor accommodation facility on Abu Dhabi's Saadiyat Island. It would be the first cluster which would be ready by July to accommodate 5,000 workers.

Services contraction brings gloom for tourism industry

New ZealandDuring the month of April, activity of services sector deteriorated for the thirteenth month in a row. This latest piece of news has been confirmed by the BNZ Capital-Business NZ Performance of Service Index (PSI).

For the month of April, the PSI was 43.7, which came as the second lowest overall result recorded and 3.4 points below March's level indicating service sector activity continues to shrink.

An expansion in index score of above 50 indicates sector activity was also being seen under pressure.

Jet Airways and Kerala Tourism launch ‘Jet2Kerala’

AirlinesPrivate carrier Jet Airways and Tourism department of Kerala have jointly launched 'Jet2Kerala' at the Trident, Nariman Point, Mumbai , in a bid to offer lucrative tourism packages to customers, visiting the state for the ongoing holidays season.

Travelers can avail these packages from department's website to enjoy stunning natural beauty, temples, forts and rich cultural heritage in the south Indian state.

March witnesses 11% decrease in NZ guest nights

March witnesses 11% decrease in NZ guest nightsStatistics for accommodation have witnessed a drop by 11% for the month of March, mostly affected by the late arrival of Easter this year.

For accommodation providers the depressed headline numbers from Statistics New Zealand are more bad news, but are unsurprising.

The statistics were low universally across the country and led by a 24 % decrease in paid guest nights in camping grounds for each accommodation type, typically strong performers during the Easter break.

Nearly 64 jobs lost at caravan maker, says Tourism Holdings

Nearly 64 jobs lost at caravan maker, says Tourism HoldingsIt was today expressed by Tourism Holdings that 64 roles would be cut at its Hamilton based business CI Munro.

CI Munro is a division of Tourism Holdings Ltd and it builds and rents out motor homes and caravans. It reported loss of $3.2 million in the six months to December 31st.  

Tourism Holdings chief executive Grant Webster said that the decision was based on the present global economic conditions and lack of demand for the company's products.

Abu Dhabi still aims at 2.7 million visitor target

Abu DhabiA decrease in visitors from developed markets has adversely hit tourism in Abu Dhabi, however the emirate is sticking to its target of 2.7 million visitors a year by 2012.

Dayne Lim Kok Chun, products development division director at the Abu Dhabi Tourism Authority reported, “Abu Dhabi has had cutbacks from tourists in Europe and developed markets, but it’s not something that would cause major alarm bells to cause us to review our longer target of 2.7 million.”

ATM Kicks Off Today in Dubai

Arabian Travel Market exhibitionThe importance of the Middle East in reviving the global travel and tourism industry beset by a global economic turmoil is underscored by a stronger-than-expected exhibitor presence at the Arabian Travel Market, which opens today at the Dubai International Exhibition & Convention Centre.

It should be noted that Arabian Travel Market's potential is highlighted by the presence of 2,100 exhibitors, a line-up slightly smaller than the show's previous 2008 edition, to promote greater business development by means of enhanced business friendliness and knowledge sharing capabilities.

Max New York Life Insurance inks partnership with SOTC

New-York-Life-InsuranceMax New York Life Insurance, one of the leading private insurer, has tied knot with SOTC, a division of Kuoni Travel India Private Limited and India's No. 1 holiday brand to offer financial planning sessions and insurance solutions to latter's customers.

As part of the exclusive personal financial planning session, SOTC customers will be assisted by Max New York Life's Financial Planning Manager who will offer customized need based life /health insurance solutions.

Indian Railways, IRCTC to jointly introduce ‘Book a Taxi Service’

Indian Railways, IRCTC to jointly introduce ‘Book a Taxi Service’If you are presently finding traveling to railway station with family or friends a difficult task, then there is good news for you.

In a latest development, Indian railway has decided to offer taxis at the door steps of passengers by dialing call-centre number '139'.

Presently, the round-the-clock enquiry service 139, run by IRCTC offers services like information about PNR status, arrival/departure of trains, seat availability and fare and accommodation.

Boost for tourism sector on the cards; to be granted “infrastructure” status

Boost for tourism sector on the cards; to be granted “infrastructure” status The Ministry of Tourism Secretary, Sujit Banerjee, announced on Monday that a boost to the tourism sector is on the cards, with the government having already approved 28 mega infrastructure projects - an apparent move towards granting "infrastructure" status to the sector.

Vienna tourism plunges due to global economic downturn

Vienna tourism plunges due to global economic downturnVienna  - Overnight stays in the Austrian capital Vienna plunged 9.5 per cent in the first quarter of 2009, official data showed Friday.

The tourism industry plays a vital part in the Austrian economy, but has been severely hit by the global economic downturn.

In March, numbers fell by 15.1 per cent year-on-year, with 37 per cent less tourist stays from Italy and 28 per cent less from the United States, according to the latest figures from the Vienna Tourism Board.

Galileo ink ‘GDS agreement’ with Akbar Travel of India

Galileo ink ‘GDS agreement’ with Akbar Travel of IndiaGalileo, the leading Global Distribution System in India, had signed a preferred GDS agreement with Akbar Travel of India Pvt. Ltd., the firm which offers all travel related services under one umbrella, to distribute, manage and book travel management services for its customers in India.

This tie-up will enable Akbar travels to use Galileo as its preferred technology partner for booking and servicing all its customers.

FICCI emphasizes need to revamp tourism; suggest a 13-point action program

FICCI emphasizes need to revamp tourism; suggest a 13-point action programEmphasizing that “Firming up a visa strategy is of utmost importance,” the industry body FICCI has said that in order to achieve the 10-million foreign tourists’ target prior to the 2010 Commonwealth Games, the Indian tourism sector needs to focus on an easy visa strategy, tourists’ security and infrastructural improvements.

Carnival cruises reports first-quarter profits despite recession

Carnival cruises reports first-quarter profits despite recession New York  - Carnival Corp, the world's largest cruise-line operator, Tuesday reported first-quarter profits after cutting costs and offering heavy discounts.

The Miami-based Carnival said its net income was 260 million dollars, up from 236 million dollars a year earlier. Sales dropped 9.1 per cent to 2.86 billion dollars in the three months ending February 28.

"Considering the economic climate, achieving higher quarterly net income is quite remarkable," Carnival CEO Micky Arison said in a statement.

Syndicate content