Geneva — The International Air Transport Association (IATA) expects a return to profitability for the global airline industry in 2023 as airlines continue to cut losses stemming from the effects of the COVID-19 pandemic to their business in 2022. In 2023, airlines are expected to post a small net profit of $4.7 billion—a 0.6% net profit margin. It is the first profit since 2019 when industry net profits were $26.4 billion (3.1% net profit margin). In 2022, airline net losses are expected to be $6.9 billion (an improvement on the $9.7 billion loss for 2022 in IATA’s June outlook). This…
Author: Eat ‘N Stays
A memorandum of understanding signed with the Saudi Tourism Development Fund (TDF) will see Hilton support it in developing family-friendly leisure destinations incorporating Hilton-branded hotels across the Kingdom of Saudi Arabia An agreement signed with Diriyah Gate Development Authority will see the opening of Waldorf Astoria Diriyah at the heart of the masterplan Hilton and Alshaya Group have signed agreements to open a Canopy by Hilton in Al Khobar and a Hampton by Hilton in Hafr al-Batin Riyadh, Saudi Arabia – As part of the World Travel & Tourism Council (WTTC) Global Summit in Riyadh, Hilton has…
Marriott Bonvoy’s Simple Made Perfect® Brand Eyes Continued Global Growth, Nearly Tripling in Size Since 2015 Dubai, UAE – Marriott International is pleased to announce that Delta Hotels by Marriott® has opened its 100th property – Delta Hotels by Marriott, Dubai Investment Park – bringing the brand’s seamless travel experience to the city’s gated enclave surrounded by landscaped gardens and near one of the world’s most important trade centers. Delta Hotels by Marriott – part of Marriott Bonvoy’s extraordinary portfolio of 30 hotel brands – now offers two properties in Dubai and three overall in the Middle East, providing travelers with more opportunities to explore and immerse themselves in…
Geneva — The International Air Transport Association (IATA) and McKinsey & Company published a study of profitability trends across the aviation value chain showing that profitability varies widely by sector. The study also shows that in aggregate, airlines underperform on the financial return that an investor would normally expect. While there is no clear path to rapidly re-balance the value chain, the study concludes that there are some key areas—including decarbonization and data-sharing—where working together and burden-sharing will mutually benefit all value chain participants. Highlights from the Understanding the Pandemic’s impact on the Aviation Value Chain study include: Capital Destruction: Despite delivering consistent operating…
Dubai, United Arab Emirates – :According to new research commissioned by Arabian Travel Market (ATM), and conducted at the end of September 2022 by hotel market intelligence and global benchmarking company STR, the GCC region now has over 170,000 hotel rooms under active development (planning, final planning & under construction). This is equivalent to 40% of the GCC’s existing hotel room inventory, a figure almost four times greater than the rest of the world which currently lags behind at an average of 11% under active development compared with existing supply. Danielle Curtis, Exhibition Director, Arabian Travel Market, said, “Between EXPO 2020, the…
Dubai-: It’s often said that breakfast is the most important meal of the day, but it’s easily skipped by those who prefer a few more minutes in bed, or who just don’t have enough time in the morning. Shangri-La’s new Breakfast Collection gives plenty of reasons to rise and shine with experiences that go far beyond the ordinary. Shangri-La Jeddah takes the concept of the floating breakfast to a whole new level with its new breakfast onboard a luxury yacht in the Red Sea. Setting sail from Jeddah’s waterfront, this new culinary adventure showcases views of the glittering sea and the…
AJEX Logistics Services launches new cross-border solutions for imports and exports between China and the Middle East as part of a major phase of expansion The two new services – E-Commerce Express (ICX) and International Express Service (IXS) – will enable deliveries from China into Saudi Arabia, Bahrain, and UAE in four to seven days The new logistics services will facilitate growing trade between China, Saudi Arabia, and the Middle East Riyadh — A joint venture between Ajlan & Bros Holding and SF Express, AJEX Logistics Services (AJEX), the Middle East specialist in express distribution and shipping solutions, today announced the…
A lively and inviting atmosphere awaits those who step into the doors of Esco-bar Coctel y Cocina, as guests are transported to Latin America. The casual yet elevated bar and restaurant oozes authentic Latin culture throughout the venue, from its mouth-watering cuisine and range of exceptional beverages, intricate interiors, and vivacious vibes, making Esco-bar a new hotspot in the city. Esco-bar Coctel y Cocina is open seven days a week from 12.00 pm to 3.00 am. Fact Box What: Business LunchWhen: Daily, 12.00 pm to 4.00 pm Offer/Price: From AED105 per person, guests can choose from a select menu including…
The figure of the record-breaking star is a sensational new addition to the newly revamped A-list Music Party Room Dubai, United Arab Emirates-: Madame Tussauds Dubai announces that a wax figure of country music star turned pop queen Taylor Swift is the latest figure to join its incredible line-up of famous personalities. This marks the first international addition to the hugely popular attraction since it opened on Bluewaters in October of last year. Taylor Swift is one of the most successful recording artists of her generation and recognised as an inspiration to young women all over the world. Her like-for-like figure,…
· ROSHN secures Platinum Sponsorship for Dubai’s Big 5 International Building and Construction Show for 2022 · David Grover, Group GCEO of ROSHN, delivers keynote speech, and ROSHN GCDO Oussama Kabbani participates in panel discussion on Creating a Construction Playbook for the Future Dubai, UAE – : ROSHN, Saudi Arabia’s largest real estate developer and Platinum Sponsor of 2022’s Big 5 International Building and Construction Show, presents its vision for modern, integrated, and sustainable communities on the global stage. David Grover, Group Chief Executive Officer of ROSHN, delivered a keynote address at the Global Construction Leaders’ Summit, while Group Chief…