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Fraport reports solid revenue and earnings performance in first nine months of 2019

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Fraport AG continued its growth trend in the first nine months of the 2019 business year, achieving an increase in both revenue and earnings.

This positive performance was driven by solid traffic growth at Frankfurt Airport (FRA) and the Fraport Group’s airports worldwide. However, the growth momentum has been slowing down during the year to date.

Fraport AG’s executive board chairman, Dr. Stefan Schulte, said: “Our industry is being impacted by the weaker global economy and consolidation of the European aviation market. Furthermore, regulatory interventions by the German government – such as the planned increase to the national air traffic tax – are also affecting our sector.

After a phase of rapid traffic growth, airlines are cutting back their plans and thinning out their winter schedules. Nevertheless, we are maintaining our full-year outlook for the 2019 business year – also backed by the ongoing positive performance of our Group airports worldwide. Thanks to Fraport’s large and diversified portfolio of international airports, we are well positioned for the future.”

International activities boost growth in revenue and earnings

In the January-to-September 2019 period, Fraport’s Group revenue increased by 12.0 percent to €2,852.2 million year-on-year. After adjusting for proceeds related to expansion investments at the Group‘s airports worldwide (based on
IFRIC 12), revenue rose by 5.2 percent to €2,486.7 million. At Frankfurt Airport, factors contributing to revenue growth included higher proceeds from ground handling services, airport and infrastructure charges, as well as security services. Retail, parking and advertising revenue also increased significantly. However, Fraport’s international portfolio clearly continued to be the largest revenue driver. In particular, the Group company in Lima (up €30.5 million), Fraport Greece (up €25.4 million) and Fraport USA (up €21.8 million) contributed substantially to the Group’s adjusted revenue growth.

The operating result or Group EBITDA (earnings before interest, taxes, depreciation and amortization) rose by 7.7 percent to €948.2 million in the nine-month reporting period. The first-time application of IFRS 16 had a positive effect on EBITDA, adding €34.0 million year-on-year. From the beginning of January 2019, the mandatory IFRS 16 international financial reporting standard establishes new rules for the accounting of leases – specifically affecting the accounting of lease contracts concluded by Fraport USA. At the same time, the application of IFRS 16 alone resulted in a €32.8 million increase in depreciation and amortization. Group EBIT saw a correspondingly moderate rise of 2.6 percent to €595.3 million. The Group result (or net profit) grew noticeably by 9.4 percent to €413.5 million. This was due to the improved operating result, as well as the markedly higher contribution from the Group subsidiary in Antalya, which is consolidated using the at equity method.

Solid traffic performance achieved despite slowing growth momentum

Passenger traffic at Frankfurt Airport advanced by a solid 2.3 percent to about 54.2 million travelers during the first nine months of the year. This growth momentum, however, decelerated noticeably over the course of the year. Based on current planning by the airlines, FRA will see a four percent reduction in the number of flights for the 2019/20 winter schedule (effective October 27) compared to the same schedule in the previous year. This reduction is due entirely to the 5.6 percent decline in European traffic, while scheduled intercontinental flights will climb by nearly 2 percent.

Fraport’s Group airports worldwide also saw passenger traffic largely increase in the first nine months, despite some airlines reducing flight offerings or even filing for bankruptcy. Only at the Fraport Twin Star airports of Varna and Burgas, combined passenger traffic dropped noticeably by 11.6 percent year-on-year.

Outlook confirmed

Fraport AG’s executive board is maintaining its full-year traffic outlook for Frankfurt Airport. Given the reduction in flight offerings for the current winter schedule, FRA’s passenger growth is expected to reach the lower end of the forecast range of about 2 percent to 3 percent. The executive board is also maintaining the financial outlook for the full 2019 business year. Group EBITDA is expected to be reach between approximately €1,160 million and €1,195 million, while Group EBIT is forecast between about €685 million and €725 million. Group EBT is projected to be around €570 million to €615 million, and the Group result (net profit) between approximately €420 million and €460 million.

MEDIA CONTACT: Torben Beckmann, Fraport AG, Corporate Communications, Media Relations, 60547 Frankfurt, Germany, E-mail:  t.beckmann@fraport.de , Facebook:  www.facebook.com/FrankfurtAirport

J$1 Billion in Revenue generated from Reggae Sumfest, says Bartlett

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Jamaica Tourism Minister Hon. Edmund Bartlett has indicated that J$ 1Billion was generated at the just concluded Reggae Sumfest music festival held at Catherine Hall in Montego Bay.

“This year was arguably the largest Reggae Sumfest in terms of attendance from both local and overseas guests. On the visitor arrival side, we saw approximately 10,000 people coming to the island for the festival which is an increase of 3000 over last year.

More importantly we estimate the revenue impact from the festival to be $J1 Billion based on average room nights stay of locals and visitors and taxes,” said Minister Bartlett.

Reggae Sumfest, which began in 1993, has been described as the largest music festival in Jamaica and the Caribbean, taking place each year in mid-July in Montego Bay. It attracts crowds of all ages from all over the world and locally and has featured a variety of Jamaican reggae artists as well as international acts.

Jamaica Tourism Minister: Reggae Sumfest generates J$1 billion
Minister of Tourism, Hon. Edmund Bartlett (R) engages in discussion with Prime Minister, the Most Honourable Andrew Holness at the Jamaica Tourist Board booth at Reggae Sumfest held at Catherine Hall in Montego Bay. Minister Bartlett has indicated that the estimated revenue impact of the festival is J$1 Billion.

Minister Bartlett added that, “The success of entertainment festivals such as Sumfest augurs well for tourism as it boosts arrivals and has a major economic impact in and around Montego Bay.

Through these types of events, hotels both large and small, attractions and smaller players in the sector get to truly benefit from the extensive value chain of tourism.”

The weeklong festival usually kicks off with the Sumfest Beach Party  which is followed with a series of events including a free Street Dance. Then there are two nights of the main festival with live performances featuring some of the best Dancehall and Reggae Artists in the world.

Media Contact:

Corporate Communications

Ministry of Tourism

64 Knutsford Boulevard

Kingston 5

Tel: (876) 920-4926-30

Fax: (876) 906 1729

FRAPORT: Revenue and earnings increase – Outlook confirmed

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The Fraport Group has successfully started off the new business year, achieving higher revenue and earnings in the first three months of 2019.

Supported by solid passenger growth at Frankfurt Airport and almost all of Fraport’s airports worldwide, Group revenue rose by 17.9 percent to EUR803.8 million. Adjusted for revenue in connection with capital expenditure for expansion projects at Fraport’s Group companies worldwide (according to IFRIC 12), revenue grew by 5.3percent to EUR678.5 million. At Frankfurt Airport (FRA), traffic growth led to higher revenue, particularly from ground handling services, as well as security services and infrastructure charges.

Moreover, the retail and parking businesses had a positive impact on revenue. In Fraport’s international portfolio, major contributions came, in particular, from the Lima (Peru) and the Fraport USA Group companies. In the U.S. market, Fraport recently took over management of retail areas at New York-JFK’s Terminal 5 (April 2018) and at Nashville International Airport (February 2019).

The operating result or Group EBITDA (earnings before interest, taxes, depreciation and amortization) advanced by 14.8 percent to EUR200.6 million in the reporting period. This amount includes a EUR10.9 million positive effect, resulting from the application of IFRS 16 (effective January 1, 2019). The positive effect is offset by additional amortization and depreciation in the amount of EUR10.4 million and a EUR2.8 million increase in interest. Establishing new rules for the accounting of leases, the IFRS 16 standard specifically affects lease contracts between the Fraport USA Group company and respective concession lessors. Thus, Group EBIT climbed by 4.6 percent to EUR86.1 million. Supported by a better interest result, the financial result improved from minus EUR56.1 million in Q1 2018 to minus EUR49.6 million in the first quarter of 2019.

Correspondingly, Group EBT soared by 39.3 percent to EUR36.5 million, while the Group result (net profit) jumped 42.9 percent to EUR28.0 million.

Commenting on the Group’s positive business performance in the first quarter of 2019, Fraport AG’s executive board chairman, Dr. Stefan Schulte, said: “We had a robust start to the new business year, supported once more by the ever growing contributions to revenue and earnings from our Group airports worldwide. In Frankfurt, we successfully managed the first stress test of 2019 during the busy

Easter travel period. Together with our partners, we will continue striving to accommodate the high demand of our customers in the best possible way. To achieve this goal, we will further optimize andstreamline processes and improve infrastructure utilization, as well as vigorously moving our expansion projects forward.”

Operating cash flow jumped noticeably by 60.2 percent to EUR129.0 million in the first three months of 2019, reflecting the positive operational performance across the Group’s airports. When adjusting for the changes in net current assets included in the statement of cash flows, operating cash flow improved by EUR12.6 million or 9.1  percent. Despite increased operating cash flow, free cash flow dropped strongly to minus EUR245.9 million in the first quarter of 2019, due to higher capital expenditure both at Frankfurt Airport and in the international business (Q1 2018:  minus EUR66.9 million).

FRA welcomed almost 14.8 million passengers from January to March 2019, up 2.5 percent year-on-year. FRA achieved this increase despite the fact that traffic in March 2018 received an additionally boost from the earlier timing of the Easter school holidays. This year, in comparison, the Easter break fell during April. Fraport’s Groupairports worldwide largely reported positive traffic performance, although the different timing of the Easter holidays impacted some Group airports serving tourist destinations.

Following the end of the first quarter of this year, the Executive Board maintains its forecasts for fiscal year 2019.

You can find our Interim Release Q1 2019 (http://ots.de/HFMbNo) on the Fraport AG website.

MEDIA CONTACT: Torben Beckmann, Fraport AG, Corporate Communications, Media Relations, 60547 Frankfurt, Germany, E-mail:  t.beckmann@fraport.de , Facebook:  www.facebook.com/FrankfurtAirport

Boeing scraps 2019 financial forecast, halts share buybacks in wake of 737 MAX disaster

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World’s biggest aerospace corporation was forced to pull its full financial forecast for the current year due to unresolved issues surrounding Boeing’s once best-selling 737 MAX aircraft.

Boeing also announced plans to pause share buybacks, citing “a challenging time for our customers, stakeholders and the company.”

“Across the company, we are focused on safety, returning the 737 MAX to service, and earning and re-earning the trust and confidence of customers, regulators and the flying public,” Boeing Chairman and CEO Dennis Muilenburg said in a statement.

The manufacturer had previously posted a report on the first-quarter earnings that managed to fall in line with analysts’ expectations, while its revenue was slightly less than projected. Boeing’s earning per share totaled the expected $3.16 from January through March, while the revenue amounted to $22.92 billion against $22.98 billion forecasted by London-based provider of financial markets data Refinitiv.

Boeing stressed that the previous guidance didn’t reflect the impact of two crashes of the company’s flagship planes, leading to the grounding of all 737 MAX 8 jets by global regulators, lawsuits from some air carriers and a decline in market value.

According to the producer, more than 135 test and production flights of updated software for the 737 MAX have been carried out so far.

Boeing’s bestseller crashed on March 10 not far from the Ethiopian capital of Addis Ababa six minutes after takeoff on the way to Nairobi, Kenya. The tragedy, which killed 157 people, marked the second crash involving the same jet model in less than six months. In October, the same type of aircraft, operated by Indonesia’s Lion Air, crashed in the Java Sea shortly after takeoff, claiming the lives of 189 people.

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Hawaii hotels: Flat average daily rate, lower occupancy so far in 2019

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For the first three months of 2019, Hawaii hotels statewide reported flat average daily rate (ADR) and lower occupancy, which resulted in lower revenue per available room (RevPAR) compared to the first quarter of 2018.

According to the Hawaii Hotel Performance Report published by the Hawaii Tourism Authority (HTA), statewide RevPAR declined to $236 (-3.3%), with ADR of $292 and occupancy of 80.8 percent (-2.7 percentage points) in the first quarter of 2019.

HTA’s Tourism Research Division issued the report’s findings utilizing data compiled by STR, Inc., which conducts the largest and most comprehensive survey of hotel properties in the Hawaiian Islands.

For the first quarter, Hawaii hotel room revenues fell by 4.7 percent to $1.13 billion compared to the $1.18 billion earned in the first quarter of 2018. There were more than 74,300 fewer available room nights (-1.5%) in the first quarter and approximately 190,500 fewer occupied room nights (-4.7%) compared to a year ago. Several hotel properties across the state were closed for renovation or had rooms out of service for renovation during the first quarter.

All classes of Hawaii hotel properties statewide reported RevPAR declines in the first quarter of 2019 except Upper Midscale Class properties ($134, +0.6%). Luxury Class properties reported RevPAR of $452 (-5.4%) with ADR of $594 (-1.2%) and occupancy of 76.1 percent (-3.3 percentage points). At the other end of the price scale, Midscale & Economy Class hotels reported RevPAR of $155 (-5.0%) with ADR of $187 (-0.5%) and occupancy of 83.1 percent (-3.9 percentage points).

Comparison to Top U.S. Markets

In comparison to top U.S. markets, the Hawaiian Islands earned the highest RevPAR at $236 in the first quarter, followed by the San Francisco/San Mateo market at $210 (+15.9%) and the Miami/Hialeah market at $208 (-3.5%). Hawaii also led the U.S. markets in ADR at $292 followed by San Francisco/San Mateo and Miami/Hialeah. The Hawaiian Islands ranked fifth for occupancy at 80.8 percent, with Miami/Hialeah topping the list at 83.0 percent (-2.1 percentage points).

Hotel Results for Hawaii’s Four Counties

Hotel properties in Hawaii’s four island counties all reported RevPAR decreases in the first quarter of 2019. Maui County hotels led the state overall in RevPAR at $337 (-2.7%), with ADR at $428 (-0.9%) and occupancy at 78.6 percent (-1.5 percentage points).

Kauai hotels earned RevPAR of $228 (-10.2%), with flat ADR at $305 (+0.2%) and lower occupancy of 74.8 percent (-8.7 percentage points).

Hotels on the island of Hawaii reported a decline in RevPAR to $225 (-9.7%), due to a combination of decreases in both ADR ($285, -2.0%) and occupancy (79.1%, -6.7 percentage points).

Oahu hotels earned slightly lower RevPAR at $196 (-0.9%), with ADR at $236 (+0.8%) and occupancy of 83.0 percent (-1.4 percentage points).

Comparison to International Markets

When compared to international “sun and sea” destinations, Hawaii’s counties were in the middle of the pack for RevPAR in the first quarter of 2019. Hotels in the Maldives ranked highest in RevPAR at $575 (+4.5%) followed by Aruba at $351 (+11.2%). Maui County ranked third, with Kauai, the island of Hawaii, and Oahu ranking sixth, seventh and eighth, respectively.

The Maldives also led in ADR at $737 (+5.2%) in the first quarter, followed by French Polynesia at $497 (-1.1%). Maui County ranked fifth, followed by Kauai and the island of Hawaii. Oahu ranked ninth .

Oahu trailed Phuket (84.5%, -6.3 percentage points) in occupancy for sun and sea destinations in the first quarter. The island of Hawaii, Maui County and Kauai ranked fourth, fifth and ninth, respectively.

March 2019 Hotel Performance

In March 2019, RevPAR for Hawaii hotels statewide declined to $227 (-4.3%), with ADR of $285 (-1.1%) and occupancy of 79.6 percent (-2.7 percentage points).

In March, Hawaii hotel room revenues fell by 5.9 percent to $373.3 million. There were more than 27,200 fewer available room nights (-1.6%) in March and approximately 66,850 fewer occupied room nights (-4.9%) compared to a year ago. Several hotel properties across the state were closed for renovation or had rooms out of service for renovation during March. However, the number of rooms out of service may be under-reported.

All classes of Hawaii hotel properties statewide reported RevPAR declines in March. Luxury Class properties reported RevPAR of $443 (-7.2%) with ADR of $583 (-3.1%) and occupancy of 75.9 percent (-3.4 percentage points). Midscale & Economy Class hotels reported RevPAR of $150 (-2.9%) with ADR of $182 (+0.8%) and occupancy of 82.0 percent (-3.1 percentage points).

Hotel properties in Hawaii’s four island counties all reported lower RevPAR for March. Maui County hotels reported the highest RevPAR in March at $336 (-1.4%) with ADR of $421 (-1.6%) and flat occupancy (79.8%, +0.2 percentage points).

Oahu hotels reported lower occupancy (80.4%, -2.3 percentage points) and flat ADR ($230, -0.2%) for March.

Hotels on the island of Hawaii continued to face challenges in March, with RevPAR dropping 11.2 percent to $216, ADR to $272 (-4.9%) and occupancy to 79.2 percent (-5.7 percentage points).

RevPAR for Kauai hotels fell to $213 (-14.6%) in March, with declines in both ADR to $286 (-4.5%) and occupancy to 74.4 percent (-8.8 percentage points).

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A new Tourism potential in Tanzania: The Southern Circuit

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A new Tourism potential is about to be unlocked In Tanzania. All roads and international air routes will in the near future, be leading to the Southern circuit, as the tour operators have major plans to open new tourism revenue streams.

Complimenting the Government’s drive to transform the Southern tourism circuit, the key tourism players are currently scouting for apt partners to invest heavily in accommodations as part of a strategy to open up the area for travel.

It is understood, the Fifth Government under President Dr John Pombe Magufuli is working overtime to put up hardware infrastructures as it seeks to unleash the full economic potential of the area.

Impressed by the government move to designate Iringa as the Southern circuit hub, Tanzania Association of Tour Operators (TATO) last week deployed a delegation led by its Vice-Chairman, Mr Henry Kimambo to identify new potential members in its effort to establish a chapter in the area to cater for the entire Southern circuit.

“We want to replicate the best practices from the northern tourism circuit to Southern shred,” Mr Kimambo told the tour operators in Iringa during the engagement meeting.

He revealed that TATO plans to bring its services close to its members in Southern circuit, comprising Morogoro, Iringa, Njombe and Mbeya anytime soon.

This implies that the 36-year-old advocacy agency for a multi-billion dollar industry, with its base in northern safari capital of Arusha, will soon have a liaison office in Iringa to take care its Southern circuit members.

Mr Kimambo said that his association was aware that the Southern circuit based tour operators not only have their own different issues but also need strong ties with their northern tourism circuit peers if the tourism potential is to be unleashed.

Presenting the benefits before the Southern Circuit tour operators, TATO Chief Executive Officer, Mr Sirili Akko said lobbying and advocacy is a core service offered by his association.

“Members enjoy the conducive business environment as TATO represent a collective voice for private tour operators in lobbying and advocate towards the common goal of improving the business climate in Tanzania” Mr Akko explained.

TATO also provides unparalleled networking opportunities for its members, allowing individuals tour operators or company to connect with their peers, mentors, and other industry leaders and policymakers.

As a member, one is in the unique position to attend conventions, seminars, award dinners and other related events with like-minded professionals in the field. These events are attended by the brightest minds and are a hotbed of ideas and collaborative efforts.

“An association’s annual General meeting represents an incredible opportunity for members to meet and network with the largest gathering of their peers during the year” Mr Sirili explained.

TATO also trains its members on key issues such as labour laws, tax compliance, corporate social responsibility, conservation issues, among others, he noted.

As if that was not enough, TATO members also enjoy the service of having a platform where they channel their operational or policy related challenges to the government for a solution.

Members are also bonded together as they advocate for their peers and share their challenges and triumphs with one another, TATO CEO explained.

“Indeed, TATO provides members with a competitive advantage because they become active, informed members of their industry” Mr Sirili said, stressing that his members also get updates on all issues on tourism and related sectors by providing resources, information, and opportunities they might not have had otherwise.

Thanks to USAID PROTECT Project for building the capacity of TATO, an umbrella organization with over 300 members, for it to become an efficient advocacy agency for the tourism sector.

Project coordinator, Mr Jumapili Chenga said the scaling up membership base for TATO is one of his scheme’s components.

Iringa Region Tourism Officer, Ms Hawa Mwichaga was grateful that at the long last a strategy to unlock the Southern tourism circuit has stepped up a gear.

Tour operators from Iringa, Mbeya and other regions namely Ernest Luwala, Nancy Mfugale, Modestus Mdemu, Serafina Lanzi supported the idea of joining TATO as a concrete step to spur tourism in southern circuit.

Natural Resources and Tourism Ministry’s officer-in-charge for Southern Circuit, Ms Tully Kulanya said her zone has a great potential for tourism business.

“The Southern Parks are the perfect destinations for travelers looking for plentiful and rare wildlife in a remote area of Africa” Ms Kulanya noted.

The national parks namely Mikumi, Udzungwa, Kitulo Ruaha, as well as Selous Game Reserve, have fewer visitors and give the feeling of being all-alone. Activities include game drives in open vehicles, boat safaris, and walking safaris. These safaris include flights between the parks.

Tanzania’s earnings from tourism jumped 7.13 percent in 2018, helped by an increase in arrivals from foreign visitors, the government has said.

Tourism is the main source of hard currency in Tanzania, best known for its beaches, wildlife safaris and Mount Kilimanjaro.

Revenues from tourism fetched $2.43 billion for the year, up from $2.19 billion in 2017, Prime Minister, Mr Kassim Majaliwa said in a presentation to parliament.

Tourist arrivals totaled 1.49 million in 2018, compared with 1.33 million a year ago, Majaliwa said.

President John Magufuli’s government said it wants to bring in 2 million visitors a year by 2020.

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Ghana Tourism makes money on selfies

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Ghana Tourism is a big business and full of surprises. This is also true for  Mr Guru, Ghanaian,  a comedian who went to Facebook after being asked to pay GH¢4.00 , what is a little less than a US-Dollar when he wanted to take a photo when crossing Kwame Nkrumah bridge.

In his Facebook message he addressed the Ghana President: “Your Excellency Mr. President, this is the receipt given to me today 19th April 2019 at Adomi bridge as a fee for pictures I wanted to take as a Ghanaian on the bridge Kwame Nkrumah built and which Mahama renovated.

The people in charge told me that the order is from the President, that even if you want to take selfie it’s 2gh per person. Your Excellency if indeed you authorized this God forsaken tax then am disappointed in you. How much do Ghanaians pay when they travel to Dubai, China, American, etc yet those countries are 100× developed. Even China’s world’s longest 30 miles sea bridge to Hong Kong is free, what is happening? What a shame!!!!

It’s said; there is no free lunch anywhere. Henceforth, you may have a good phone with a good front camera but you may have to pay between GH¢2.00 and GH¢4.00 to pose for a picture on Kwame Nkrumah’s Adomi Bridge.

One of the longest bridge on the Volta Lake in Ghana built some decades ago was recently renovated to avert any possible danger to the lives of motorists.

The government instituted the levy as a measure to rake in some revenue to sustain its numerous projects hence a levy on the bridge.

Tourists have taken to social media to cry over the levies expressing disappointment at the move by government.

Johannes Nartey Mr Guru, Ghanaian comedian took to Facebook  to lament after being asked to pay GH¢4.00

 

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New sales leader at Kimpton Hotel Monaco Washington DC & Kimpton George Hotel

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Kimpton Hotel Monaco Washington DC and Kimpton George Hotel announced the hire of Katherine Saad-Loman as director of sales and marketing for both boutique hotels in Washington, DC. Saad-Loman brings a strong resort, catering, and luxury hotel background to the position, as well as nearly 30 years of experience in the hospitality industry.

In her new role, Saad-Loman will drive all sales and marketing activities for Kimpton’s Hotel Monaco Washington DC and Hotel George. Saad-Loman’s day to day as director of sales and marketing for the two hotels will be spent with an emphasis on working with key corporate accounts while also leading the hotels’ expert sales, catering, and events staff. Under her guidance, the team will continue to create ridiculously personalized meetings, weddings, and creative event experiences, offering seasonally-inspired food and beverage in partnership with the hotels’ talented restaurant teams. Saad-Loman will also spearhead strategy for all sales segments and oversee the approach toward revenue, digital marketing, advertising and public relations efforts for the hotels.

Saad-Loman joins Kimpton with varied and impressive experience. She began her career at Hilton Singer Island Ocean Front Resort where she increased catering sales 350% across her three year term. After learning the ropes of a conference hotel, Saad-Loman gained experience as a director of food and beverage at Imperial Lake Golf and Country Club in Mulberry, Florida. She then cut her teeth in a number sales and operations roles throughout central Florida and Baltimore before joining the team at Walt Disney World’s Grand Floridian Resort as a senior sales and catering manager. She continued to advance her career at top hotels in the Florida market before returning to the Mid-Atlantic as a director of sales and marketing at Bethany Beach Ocean Suites in Delaware. Prior to joining the team at Kimpton, she was task force director of sales and marketing with Crestline Hotels & Resorts in Fairfax, Virginia.

A world traveler and graduate of Catham College in Pittsburgh, Saad-Loman has called the greater DC area home for the past seven months. Outside of work, she can be found planning her next trip, finding places to use her fluent French and recommends everyone live abroad at least once in their lives. Saad-Loman is a member of Hospitality Sales and Marketing Association International (HSMAI) with a passion for mentoring those looking to hone their sales and leadership skills, and she also volunteers, teaching financial literacy, work readiness, and entrepreneurship to first graders through Junior Achievement of Greater Washington in her spare time. Saad-Loman brings a stylish sense of leadership and a wide range of sales and marketing experience to both Hotel George and Hotel Monaco Washington DC.

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Centara identifies technological and social trends that will shape the hospitality industry in the next 10 years

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Global hospitality is at a crossroads. In the last 20 years, technology has transformed every aspect of the guest journey, from online bookings to in-room services to post-stay feedback. But as technology continues to evolve and advance, what will the hotel industry look like 10 years in the future?

In the past, digitalization was largely driven by companies, as new solutions were introduced to enhance efficiency and target customers more effectively. In the modern era however, it is customers who are demanding greater connectivity. This is especially true in the hotel industry, which is driven by modern lifestyle trends and the “always-on” mindset of millennial travelers.

In light of these trends, Markland Blaiklock, Centara’s Deputy Chief Executive Officer, explains his vision for the future of the hospitality industry in the next decade:

“Ten years from now, I’m sure we will look back and see that the hospitality industry changed much more than predicted, and Asia will continue to be a major catalyst for change. This evolution will be part social and part technological, but the overall goal will be the same: to meet and exceed guests’ expectations,” he commented.

According to Mr. Blaiklock, Centara foresees three significant trends shaping its business, and the entire industry, going forward:

Travel and work life will become inseparable thanks to improved technology and faster connectivity. This trend will occur in all countries but will be led by China and the rest of Asia, which are currently driving the growth in overseas travel. The launch of Centara’s new “Meetings Redesigned” MICE initiative will help to accommodate this shift, by allowing companies to be more flexible and creative with their event agendas.

Robotics and artificial intelligence will create hyper-connected hotel experiences. The Internet of Things (IoT) will seamlessly connect every hotel touchpoint, which will be personalized to the unique preferences every guest. In addition, big data insights will enable hotel staff to improve service quality in real time.

Delivering emotional experiences will be the ultimate goal of hotels. As technology takes over, many guests will go in search of authenticity, human interaction and genuine hospitality. The ability to predict and identify human emotions will be key to the success of hotels in the coming decades.

The big question for hoteliers now and in the future will be: how do we successfully integrate technology to improve the guest’s entire journey, whilst also retaining our distinct personality and brand loyalty?

For Centara Hotels & Resorts, Thailand’s leading hotel operator, this balance is at the core of its strategic vision. In the coming years decades, the group will focus delivering warm Thai hospitality in line with the latest social and technological trends to create exceptional customer experiences.

Centara has proven adept at developing new brands that embrace innovation. The most recent example is COSI, which caters for young-minded and tech-savvy travelers with friendly, simple and affordable accommodation and state-of-the-art amenities like smartphone integration, self-service check-in and a 24-hour lifestyle café concept. It is no surprise that this contemporary concept, which made its debut in Koh Samui in 2017, is now a key driving force behind Centara’s expansion strategy.

In many ways, COSI represents the future of hospitality. Its combination of connectivity, comfort and convenience enables guests to blend business and leisure travel, a key trend identified by Mr. Blaiklock. Across all of Centara’s six brands however, the group continues to roll out innovative new digital experiences.

Recent initiatives range from revamping the Centara website and mobile app for a seamless online experience, to launching a new central reservation system and revenue management system for global coordination. The new Chinese language, China-hosted website, social media pages and payment solutions are also positioning Centara to compete successfully in the world’s largest travel market.

Technology, however, is only one element of a successful strategy. Hotel guests will always be human beings, and the majority of humans visit a destination to experience its charm and culture, not to look at a screen. For Centara, the ability to deliver authentic Thai hospitality is something that can never be replaced by technology. By harnessing big data and personalization tools however, hoteliers can enhance every human interaction. Intuitive and rewarding loyalty programs like CentaraThe1 will play a major part in anticipating and delivering tailored experiences.

So digitalization really is the key; by using smart technology to identify and satisfy guest preferences, the hoteliers of the future will be able to create truly bespoke experiences for every guest.

Centara Hotels & Resorts is Thailand’s leading hotel operator. Its 68 properties span all major Thai destinations plus the Maldives, Sri Lanka, Vietnam, Laos, China, Oman, Qatar and the UAE. Centara’s portfolio comprises six brands -Centara Grand Hotels & Resorts, Centara Hotels & Resorts, Centara Boutique Collection, Centra by Centara, Centara Residences & Suites and COSI Hotels – ranging from 5-star city hotels and luxurious island retreats to family resorts and affordable lifestyle concepts supported by innovative technology. It also operates state-of-the-art convention centers and has its own award-winning spa brand, Cenvaree. Throughout the collection, Centara delivers and celebrates the hospitality and values Thailand is famous for including gracious service, exceptional food, pampering spas and the importance of families. Centara’s distinctive culture and diversity of formats allow it to serve and satisfy travelers of nearly every age and lifestyle.

Over the next five years Centara aims to double its size with additional properties in Thailand and new international markets, while spreading its footprint into new continents and market niches. As Centara continues to expand, a growing base of loyal customers will find the company’s unique style of hospitality in more locations. Centara’s global loyalty program, Centara The1, reinforces their loyalty with rewards, privileges and special member pricing.

For more information about Centara, please visit centarahotelsresorts.com.
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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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