
Shutdown drama and leisure pleasures
Dear Insider,
The US shutdown came to an end yesterday after 43 days. Hotels lost USD 31 million per day in the most important weeks before the festive season. Over 6.7 million overnight stays have been lost. Now the hotels are slipping, their liquidity is melting away. Many operators can no longer pay their fixed costs. Occupancy and revenue will only recover in the next quarter - if there is no renewed shutdown in January.
Central Europe is in crisis for other reasons, while South East Europe is celebrating: The lust for leisure is rising in Albania (the second airport has already been built), Greece is all smiles and Croatia wants to become a year-round destination. Along with the superlatives come discussions about the first limits to growth.
Germany also remains in demand - from foreign groups. CityBox Hotels from Norway, with only ten hotels in the Nordics, wants to integrate its budget brand into premium city locations. In all major cities. A portrait with Facts & Figures. And more from the north: The four-way deal between Pandox, Eiendomsspar, Dalata and Scandic is now official. It will be exciting to follow this integration. ... More
Magazine
In July, Pandox, the Scandinavian hotel operator, developer, and leaser of hotel properties, announced its intention to take over the Irish hotel group Dalata. The transaction is closed now, Scandic will operate the hotels.
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Content Partner
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Marketplace
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The Dutch Reclame Code Commissie (RCC) has reprimanded Booking.com for the hotel star ratings displayed on its OTA platform. There is a lack of transparency and control.
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