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Mediterranean Resort & Hotel Real Estate Forum returns to Greece

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Now in its fifth year, the Mediterranean Resort & Hotel Real Estate Forum (MR&H) will return to Greece for the second year in succession this October. The event, hosted by Questex, is dedicated to the investment, development and operation of resorts and hotels within the Mediterranean region. This niche, but highly specialized area, comprises various elements; hotel, residential, marinas, health clubs, children’s activities, retail, sports facilities, F&B, all of which need to be carefully woven together with seamless operation to create a successful resort.

The conference will be held at the Hilton Athens on the 29-31st October 2019. A fitting venue for Hilton’s celebration of 100 years in hospitality and the continuation of the premise that the group was founded on; “travel can make the world a better place”.

The dynamic growth of tourism in Greece continues to boost investment activity throughout the country and throughout the wider Mediterranean region. Speaking at MIPIM last month, Secretary General for Tourism Policy and Development George Tziallas said; “Half of all funding under Greece’s 2016 development law has been channeled into tourism ventures, while more than 400 investment plans have been submitted in the last three years to the tourism ministry for approval.”

This statement is supported by data recently released by Horwath HTL during the International Hotel Investment Forum (IHIF) which revealed Greece is a prime investment opportunity for international hotel chains as only 1.7% of total units currently operate under an international brand. Results from the joint investor sentiment survey from Tranio and IHIF showed Greece listed as one of the European countries that is most attractive for hotel real estate investment.

Stakeholders from leading operators including Thomas Cook, Club Med and Nobu attend the event alongside investors from KSL, Starwood Capital Group and Dolphin Capital all recognizing the value of coming together as a collective to debate, converse and discuss.

Registration for MR&H 2019 is now open and delegate tickets can be purchased at the best value Early Bird rate until the end of May.

Enterprise Greece have pledged their continued support for MR&H and Grigoris Stergioulis, Chairman & CEO at Enterprise Greece said in relation to the ongoing collaboration; “Building on the success of the event last year, the positive working relationship with Questex and the significant opportunities that exist for investors in the Greek hotel market, we’re thrilled to once again partner with MR&H and look forward to welcoming the event to Greece for the second year.”

Alexi Khajavi, Managing Director of EMEA Hospitality + Travel Group, Questex said; “The tourism and hospitality prosperity that Greece is enjoying is leading to significant activity from serious investors and developers. As a conference host, our role is to facilitate these meetings, connections and interactions in an environment that is educational and energizing. With the continued support from Enterprise Greece, Hilton providing the setting, and amongst very encouraging industry data, we’re confident that MR&H will prove to be an event not to be missed for those currently active or keen to do business within the Mediterranean resort and hotel space”.

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Barbican beefs up sales team

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The Barbican, a conference and international arts venue located in London, has appointed Jenny Waller as head of sales. The expanded role will see Jenny managing the growing sales team, which includes a renewed focus on international and association markets. Jenny will be supported in her role by the newly-appointed deputy head of sales, Charlie Smith.

Jenny has been promoted from the role of senior account manager within the Barbican team, where she has already achieved a number of significant wins for the world-leading arts and conference venue. These include major corporate and association events due to take place over the coming 24 months. Prior to working at the Barbican Jenny spent four years developing industry knowledge and expertise at Park Plaza Hotels.

Charlie returns to the Barbican, where he worked as an account manager for two years between 2016 and 2018. Other experience includes time developing sales skills at both Dreamland and HMS President.

“The Barbican is going from strength to strength,” commented Jackie Boughton, head of business events at the Barbican. “Last year we opened and showcased our new cinema offering, comprised of two cinemas and supporting food and beverage, as well as exhibition or networking space capable of seating up to 150 for conferences, meetings and private screenings. When added to our wider offering it makes the Barbican one of Europe’s most comprehensive venues. This in turn has led to an increase in both association and international bookings. Jenny has been instrumental in that success over the last year and was therefore the perfect choice to take on the demanding role leading our sales team. It is also a real pleasure to welcome Charlie back to the team – his in-depth knowledge of the venue is already having a significant impact on new business development.”

Jenny responded by saying: “This is a new and exciting challenge for me. Over the course of the next year I am particularly looking forward to working alongside our association specialists as we develop that market, whilst supporting our work with a strong presence at major international trade shows and events. The UK of course remains our core market and we are delighted by the ongoing support we receive from domestic clients booking direct or via our agency partners. However, there is still significant opportunity for us to develop internationally – particularly given our ability to partner with the Barbican International Enterprises team to deliver truly inspiring content and theming. The addition of Charlie to the team ensures we have the ongoing experience and depth of knowledge needed to deliver to the highest standards for our clients.”

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Akaryn Hotel expansion: Aleenta Mountain Retreat in Bali and Akyra resort in Hoi An

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Akaryn Hotel Group, a Thailand based boutique hotel specialist, is preparing to expand into international markets for the first time, with the launch of its pioneering hospitality brands in Indonesia and Vietnam.

In the coming months, two of the group’s hotel concepts will make their international debuts. Aleenta, the original barefoot luxury brand that first launched in Thailand in 2004, will be introduced to Bali, Indonesia’s “Island of the Gods”, and akyra, the trend-setting boutique brand, will arrive in Hoi An, the UNESCO World Heritage-listed port town in central Vietnam.

Aleenta Retreat Bali will be a spiritual sanctuary in the island’s mountainous north, an hour’s drive from Ubud. Designed in a classical low-rise Balinese style, this serene wellness retreat will feel a million miles away from the busy tourist resorts in the island’s south. Nestled in the lush, jungle-clad hills, this exquisite hideaway will allow guests to relax and reconnect with each other in paradise. The 50 rooms will be large and luxurious, whilst also exuding authenticity and being equipped with the latest amenities.

A spa village and yoga resort, Aleenta Retreat Bali will feature an extensive Ayurah Wellness centre, where guests can unwind with an array of soothing treatments, including traditional Balinese massages and natural therapies. An outdoor yoga area will overlook reflective ponds and a fitness centre will allow guests to enjoy an invigorating workout in paradise.

A choice of restaurants will focus on fresh, organic ingredients, while the Pool Bar will serve refreshing drinks during the day and after dark. Local handicrafts will be available at the Galleria boutique, and guests will have plenty of opportunities to head out and discover the local area, including Ubud, Bali’s cultural capital. Aleenta Retreat Bali will also provide an elegant setting for weddings and functions, with a choice of indoor or alfresco event spaces.

“Aleenta was our first brand and our pioneering resorts in Phuket and Hua Hin have become hugely popular among guests. Every Aleenta property is designed to reflect the timeless charm and character of its destination, featuring large living spaces and world-class facilities while also operating in harmony with the environment. Aleenta Retreat Bali will be a fantastic addition to our portfolio; secluded, spiritual and sensual, this sublime sanctuary will allow guests to discover the true essence of the Island of the Gods,” said ,” said AKARYN Hotel Group’s Founder and Managing Director, Anchalika Kijkanakorn.

Also opening its doors in 2019 will be akyra Hoi An, unique waterfront resort nestled midway between Hoi An’s historic town centre and golden China Beach. Located on the banks of the Thu Bon estuary, this low-rise boutique retreat will be accessible either by car or by boat and many of the 110 stylish rooms and pool villas will sit on the water’s edge.

Guests can soak up this stunning setting with a morning yoga class, a spa treatment at the Ayurah Wellness centre, a dip in the onsen or a workout in the modern fitness centre. Alternatively, they can simply plunge into the inviting outdoor infinity pool. Young guests will be kept entertained at the kids’ club, and all ages can discover delectable Vietnamese and international cuisine at a choice of two restaurants and a pool bar.

akyra Hoi An will provide the perfect balance between cultural exploration and tropical relaxation; the enchanting port town of Hoi An, with its diverse heritage and alluring architecture, is just a short distance away, while the golden sand and azure sea of Vietnam’s central coast is also easily accessible. It will also provide a spectacular setting for events and dream weddings.

“With its peaceful and picturesque waterfront setting, halfway between the city and the sea, akyra Hoi An will allow visitors to discover everything this charming destination has to offer. Guests who have experienced akyra’s hotels and resorts in Bangkok, Phuket and Chiang Mai will be familiar with the brand’s trend-setting style. We look forward to introducing guests to a new era of contemporary, cutting-edge hospitality in this idyllic location,” Anchalika added.

AKARYN Hotel Group currently operates a collection of captivating boutique hotels and resorts across Thailand, including Aleenta Hua Hin-Pranburi, Aleenta Phuket-Phang Nga, akyra Beach Club Phuket, akyra Manor Chiang Mai, akyra Thonglor Bangkok and the most recent addition to its portfolio, akyra TAS Sukhumvit Bangkok. The group will continue to introduce its luxurious and personalised style of Asian hospitality to even more destinations across the region in the months and years ahead.

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eTN Hero: Cordelia Igel, team leader at Vox Restaurant, Grand Hyatt Hotel Berlin

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Many of us traveling around the globe on business have travel stories to tell. I spend more than 100 fully-paid nights every year in Hyatt Hotels around the world. Doing this, you get to know a brand more closely.

I am collecting my own list of heroes and honoring each of them eTN Heroes. You cannot buy eTN Heroes, and this title is a publisher’s recommendation based on personal experience.

I realize there are so many heroes in the hospitality industry and even more in the rest of the travel and tourism industry, so my personal experience is only a very small token of well-deserved recognition.

Today, I would like to introduce Cordelia Igel, a senior team leader at Vox Restaurant at the Grand Hyatt, Berlin, Germany as the latest eTN Hero.

Travelers like me experience hotels as a second home. When something doesn’t make sense, I am always outspoken and hope my criticism is heard. I want the businesses that cater to my travel to do well.

Loving my espresso every day is a passion many fellow travelers share. For me, it doesn’t make sense when international hotels cannot see that good espresso is a major selling point. For me, it’s a major buying point when selecting a hotel.

For example, I stopped staying at the Marriott Newark Airport where the Starbucks in this hotel is only open from 6 am to 10 am.

It boggles my mind because people come in 24 hours a day because after all, it’s an airport hotel.

With travelers arriving or leaving this hotel don’t always go by Eastern Standard time.

A good cup of coffee becomes as important as a good bed or a hot shower.

The same goes for food. I select hotels where I can get my breakfast, lunch, or dinner 24/7 because my body time clock is not always synchronized with the time in the destination.

Mistakes happen, especially when you’re jetlagged. One of the worst was when I picked up a suitcase that belonged to another passenger in Tokyo after arriving from Abu Dhabi and showed up at the Grand Hyatt Tokyo with the wrong luggage. Takashi Kai, Assistant Manager at the Grand Hyatt Tokyo, was my first eTN Hero that day and managed this impossible and frustrating situation for me.

Here why I am so thankful to Cordelia Igel, the senior team leader at Vox Restaurant at the Grand Hyatt Berlin, my latest eTN Hero.

In March during ITB  I stayed at the hotel for 8 nights.

The hotel has a fantastic breakfast and a great pool/gym area along with a very central and exciting location close to Potsdamer Platz.

Rooms are a little small and average in Berlin, but acceptable. I may have been spoiled. I stayed at the Hyatt Haus Duesseldorf before arriving in Berlin during the same trip and also one night at the Park Hyatt Hamburg and loved my apartment and hotel suite. My apartment at Duesseldorf Hyatt Haus was over the top – washer, dryer, living room, bedroom, and an outside patio with a million dollar view, and enough space to entertain 100 people.

Here is why Cordelia at the Grand Hyatt Berlin is my hero. Attending a very busy trade show is always a challenge when managing a busy scheduled and sleep. My morning espresso is of utmost importance. In the past, when staying at the Grand Hyatt Hotel in Berlin, I went to Starbucks across the street from the hotel, but this year, Starbucks was no longer there.

What were my options? As a Globalist member in the Hyatt loyalty program, my breakfast is always included. Hyatt Germany is not one of the hotels forcing Globalists to take their breakfast only in the Club lounge.

The continental breakfast at the Hyatt Grand Clun is usually not comparable with the wide variety of food found at VOX restaurant.

So everything was perfect in the morning, right? Wrong!

When trying the Club lounge espresso, I should have known it wasn’t up to my standards as it was served from a push-button machine. However, not all Grand Clubs are the same. At the Grand Hyatt Seoul, Korea the Espresso machine is the best I found in the Hyatt system so far.

At the Grand Hyatt Berlin, when dining in the hotel’s 5-star restaurant VOX, a 3-star espresso is served from a push-button machine.

When I asked the lead server, Cordelia, why they are serving such a superb breakfast and offer only a push button machine-made espresso she offered a solution.

The only good espresso machine in the hotel not using push-buttons was at the hotel bar. Cordelia went to the hotel bar and personally hand-crafted a cup of real espresso for me. She also managed to bring it back within one minute after pouring. Magical!

Every morning after that, Ms. Igel knew what to do. And for that extra touch of service and not hesitating a second to go above and beyond, Vielen Dank Frau Igel, you are my eTN Hero today.

 

 

 

 

Travel News | eTurboNews

Hard Rock International announces Hard Rock Hotel Bangalore

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With a portfolio spanning across 75 countries, including 27 unique hotel properties with 37 projects in different phases of development, Hard Rock International continues intensifying its international presence with the announcement of Hard Rock Hotel Bangalore, slated to open in Fall 2020. Joining Hard Rock Hotel Goa, the second Hard Rock Hotel in India will be located in the bustling city of Bangalore, known as the Silicon Valley of India.

“The city of Bangalore is full of culture and beauty and is the perfect location for our second property in India,” said Todd Hricko, senior vice president and head of global hotel development for Hard Rock International. “We are pleased to work with Convention Hotels India Private Limited who share in our vision, integrity and dedication to quality.”

Hard Rock Hotel Bangalore will feature Hard Rock’s signature musical design, highlighting the roots of the local culture with one-of-a-kind memorabilia placed throughout the 210-room hotel. The property, which will be licensed by Hard Rock International and managed by Convention Hotels India Private Limited, will also feature an array of signature brand offerings.

“We are so excited to be a part of bringing the Hard Rock brand to Bangalore,” said Prataap Wadhwa, managing director of Convention Hotels India Private Limited. “This project will provide an economically invigorating addition to the area, creating new jobs and catering to the IT professionals in the city.”

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New team member at The Pod Hotels

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The Pod Hotels is striving to address the rapidly-increasing demand for affordable lifestyle hotels targeted at progressive-minded and budget-conscious travelers who are creative and ambitious and who maintain high expectations when it comes to authentic experiences, smart design and intuitive technology.

As part of this progress, BD Hotels today announced the appointment of Rani Gharbie as the Head of Acquisitions & Development for The Pod Hotels, BD Hotel’s highly profitable micro-hotel concept to replicate this successful business model in even more key markets including Miami, San Francisco, Chicago, Austin, Boston, Nashville, Seattle, Montreal, Toronto, and Mexico City, amongst others.

Gharbie formerly oversaw development and acquisitions for North America at Virgin Hotels where he actively contributed to grow the brand’s footprint in key markets.

As Head of Acquisitions & Development working closely with BD Hotels owners Richard Born and Ira Drukier, Gharbie will be responsible for identifying potential investment opportunities and bringing together strategic partners and investors to fund future projects in numerous markets. He will leverage BD Hotels’ expertise in hotel development, investment and operations to expand The Pod Hotels brand across the country and eventually globally.

“Rani joins us at a pivotal time as we scale The Pod Hotels portfolio exponentially in North America” said Richard Born, Owner of BD Hotels. “He will undoubtedly be a tremendous asset as he brings over 20 years of experience in hotel acquisitions, development and operation.”

“I’m looking forward to expanding the profitable model Richard and Ira created to key markets nationwide,” said Gharbie. “I see great growth potential for the brand as there is an increased desire from today’s travelers to stay at smart, innovative brands like The Pod Hotels.”

Prior to joining Virgin Hotels, Gharbie was the Managing Director and Founder at Cedar Funds, a New York City based development and investment firm with a focus on progressive hotel and real estate assets, as well as regional Director of Development with InterContinental Hotels Group (IHG). In addition, Gharbie is an Adjunct Professor at Columbia’s Masters in Real Estate Development program, where he teaches the spring course Private Equity Development, Hotel Focus. He holds a Masters Degree from the program, an MBA from the HEC Business School in Montreal, a Bachelor degree in Hotel Management from the Glion Hotel School in Switzerland, and a Certificate in Hotel Real Estate Investments and Asset Management from Cornell University in New York.

The Pod Hotels currently has five properties in the portfolio, three of which opened over the past two years (the brand’s flagship Pod Times Square opened in January 2018; Pod DC and Pod Brooklyn opened in 2017), with the brand recently announcing two more hotels in the direct pipeline (Pod Philly opening in fall 2019 and Pod LA slated for 2020). With its functional guestrooms, vibrant communal space and flexible design, The Pod Hotels presents superior investment returns when compared to legacy hotel brands of similar positioning.

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IGLTA honors ITB Berlin for its commitment to LGBT+ travel segment

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The reward for promoting awareness and acceptance of the LGBT+ Community in the global tourism industry: at the Annual Global Convention, which will take place from 24 to 27 April at the Hilton Midtown New York City, the International LGBT+ Travel Association (IGLTA) will present ITB Berlin with the Vanguard Award.

Every year, together with the IGLTA Foundation (www.iglta.org/The-IGLTA-Foundation), the public charity subsidiary of the IGLTA, the directors’ board presents the IGLTA Honors. The recipients are individuals, companies or organizations who have improved relations within the tourism community and raised awareness of LGBT+ travel around the world. The LGBT Travel Pavilion of ITB Berlin celebrated its debut back in 2010, and since then has become a highly-regarded role model for the presentation of the gay and lesbian travel segment at an international travel show. In addition to the extensive display area with its own conference venue, supporting events such as the LGBT+ Media Brunch, networking events, informative lectures, the LGBT+ ITB Convention Seminar – which since 2 years also includes the bestowal of an ITB Pioneer Award -, and, as of this year the International LGBT+ Leadership Summit, attract many visitors.

ITB’s commitment has made it possible to also position this segment at ITB Asia in Singapore and organize international ITB Academies on this topic as recently in Malta and Japan.

”ITB Berlin is proud to occupy a pioneering role in this important subject, and to be the recipient of such a prestigious award for its continuing efforts to promote international recognition of LGBT+ travel“, said Rika Jean-François, CSR officer of ITB Berlin and responsible for this segment. ”What began as a few community pioneers exhibiting here and there around ITB Berlin has over the years become a recognized platform. Together with our partner Diversity Tourism we have created a globally unique forum.“

”We have got to the point now where at ITB Berlin we have created one of the liveliest and most diverse LGBT+ Travel Pavilions possible, with exhibitors and people taking part in discussion rounds from around the world“, is how Thomas Bömkes, LGBT+ consultant for ITB Berlin and Managing Director of Diversity Tourism GmbH described this market’s rising prospects. Rika Jean-François added: ”This award will give us the strength to continue defending LGBT+ travelers against discrimination in every country in the world and to ensure that they, just like any other travelers, can visit places where also local people are respected regardless of their sexual orientation.” Thomas Bömkes pointed out, that the economic potential of this travel market cannot be underestimated: “Studies have shown that accepting diversity can contribute significantly to a destination’s economic success.“

LGBT tourism has been represented at ITB Berlin since the Nineties. As a result of ITB Berlin’s CSR policy which promotes diversity and defends human rights in tourism and due to the keen interest expressed by exhibitors and visitors, Gay & Lesbian Travel was officially declared a segment in its own right at ITB Berlin 2010. Openness, creativity and lively interaction are the dominant features of this segment that has become one of the most wide-ranging at ITB Berlin. The LGBT Travel Pavilion currently boasts the world’s largest display of products for the gay and lesbian travel market of any trade show in the world.

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Rolls-Royce Tay 611-8 engine achieves 10 million flying hours

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The Rolls-Royce Tay 611-8 engine, which entered service in 1987, recently achieved another incredible milestone by reaching 10 million flying hours in nearly 5 million flights. The engine powers a range of Gulfstream’s highly successful large-cabin business aircraft, such as the Gulfstream GIV, GIV-SP, G300 and G400, and has established a reputation for outstanding dependability, efficiency and low noise generation.

The performance of the Tay 611-8 enabled the Gulfstream GIV to revolutionise the business aviation market with its high cruising speed and the intercontinental range of about 4,300 nautical miles. Over the past three decades, the Tay 611-8 has achieved numerous records for speed and range. These achievements have been perpetuated by its successor, the Tay 611-8C, powering the Gulfstream G350 and G450. There are over 1,700 Tay 611-8 and -8C engines in service today, with many of these supported by Rolls-Royce’s market leading CorporateCare®.

The background to the first Tay order contract is part of aviation history. In December 1982 the basic details – engine price, quantity, payment terms – were written on a napkin in less than 10 minutes by Sir Ralph Robins, who at the time was the company’s Managing Director, and Allen Paulson, Gulfstream’s founder and then Chairman and CEO. The deal was formally settled in March 1983.

Dirk Geisinger, Director Business Aviation, Rolls-Royce, said: “Reaching 10 million flying hours is an impressive milestone and we are very proud of this achievement. With its legendary reliability the Tay 611-8 became the benchmark for ultra-reliable long distance business aircraft and perfectly illustrates why Rolls-Royce is the leading engine manufacturer in Business Aviation.

“The Tay family with its proven performance has been very successful for us and has propelled our market leadership in this sector. Combining this engine with our latest aftermarket programme CorporateCare Enhanced raises the bar for the whole industry by introducing uncapped troubleshooting, coverage for mobile repair team travel costs and nacelle coverage on later engine models.”

He adds: “CorporateCare Enhanced provides our customers with a global support infrastructure which includes Engine Health Monitoring, a worldwide network of Authorised Service Centres and globally distributed spare parts and engines, all managed by our dedicated 24/7 Business Aircraft Availability Centre. Our customers benefit directly from this investment in proactive care, an in most cases are prevented from missing a planned trip.”

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SriLankan Airlines’ new plan to be like Emirates

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In a bid to turn the loss making airline into a profitable venture, SriLankan Airlines has come up with a five-year strategic plan. Part of the plan will see them emulating industry leader Emirates, with a new hub and spoke network model.

In a statement SriLankan Airlines said:

“SriLankan Airlines has formulated a new five-year Strategic Business Plan for the period 2019-24 with the objective of transforming itself into a financially viable organization airline group with high brand visibility and a global reputation for excellence,”

They went on to say that the national carrier had an ‘enormous contribution’ to make to the GDP of Sri Lanka, including import, export and tourism.

What is SriLankan Airlines planning?

Their latest five year strategic business plan includes major development of the Colombo hub to make it a key connecting point for a variety of markets. SriLankan are targeting passengers connecting through Africa, Asia and the Middle East, in a bid to grow as big as rival airline Emirates.

As a member of Oneworld, SriLankan are hoping to leverage their membership to develop their network for the future. In contrast to their current point to point model, they plan to work on more of a hub and spoke model to develop new opportunities.

The plan is to be presented to the Government of Sri Lanka for approval shortly.

New routes and fleet

Currently, SriLankan Airlines operate with a fleet of 27 Airbus aircraft. Specifically, these are 13 A320 family aircraft and 14 A330s. As part of the five year plan, the carrier intends to select new fleet inclusions which match the requirement of their developing route network. They have also said they want to reconfigure their existing fleet to offer an enhanced business class service.

Already, the airline has announced a fifth weekly service between Colombo and Tokyo from July onwards, using its Airbus A330-300s. If the plan is formalized by the government, we expect to see many more new route announcements over the coming weeks.

As well as routes and fleet, the plan specifies that it will:

  • Enhance the customer experience by improving customer-centricity throughout the airline
  • Adopt best practices to improve productivity
  • Grow online sales to reach a wider market in a more cost effective manner
  • Improve employee engagement
  • Implement a competitive cost structure through a greater cost consciousness throughout the company

The plan is being headed up by Group Chief Executive Officer Vipula Gunatilleka, who was appointed to the airline in mid-2018. Prior to joining SriLankan, Gunatilleka was a board member and CFO of TAAG Angola. There, he worked closely with Emirates while they were managing TAAG, so no doubt knows his hub and spoke business very well already.

A loss-making airline

The airline is undergoing a major shakeup with a view to turning a profit. Over the last nine months, the carrier’s net loss more than doubled to a total loss of $135m. It is hoped that the five year strategic plan being tabled today will transform the airline by 2024.

 

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No-show clients at Paris restaurants now must pay cancellation cash penalties

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Cafes and restaurants in the French capital have opted to follow the lead of hotels and guest-houses, and start charging their customers with cash penalties for late cancellation of reservations or failing to appear in time.

Hundreds of Paris eateries are currently adopting the system that is widely used in the hotel industry, the Times reports. Restaurants oblige clientele to leave details of their credit cards while making reservations, with big-name places warning customers over a potential charge in case of a no-show.

The measure is reportedly connected to losses the restaurants have to suffer, when people make several reservations for the same day and then cancel at least one of them without warning.

“Even in great restaurants customers cancel without having the slightest idea of the economic impact of their action,” the managing director of Les Grandes Tables du Monde, an association of top restaurants Nicolas Chatenier told the media.

Restaurants reportedly have to follow the trend due to French gastronomical habits, in particular fondness for lengthy meals. French cafes cannot allow two bookings for the same table, like restaurants in Britain and the US, as they cannot be sure that the first group will leave before the second one appears.

The financial losses due to no-shows are really significant, accounting for up to 30 percent of the restaurants entire revenue, according to Xavier Zeitoun, founder of a restaurant booking site Zenchef, as cited by the media. The businessman noted that 245 restaurants have adopted the new system so far.

Chatenier said that annual losses of an average Michelin-starred restaurant may total up to €150,000, stressing that one canceled table may wipe out the profits it could make in the evening.

To tackle the problem the Tour d’Argent restaurant has reportedly imposed a cancellation fee of €100 per head at lunchtime and €200 for the dinner service, while the 58 Tour Eiffel restaurant obliges clients who book a table and cancel less than ten days before the meal, to pay €86 per head.

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