Two more properties in Rajasthan- Jaipur and Jawai in the portfolio Strengthening the presence of Brand Storii, ITC’s Hotel Group has announced the signing of two Storii resorts in Rajasthan. With these signings the chain’s portfolio of managed properties continues its high growth trajectory through the asset right strategy. Expected to open in early 2025, Storii by ITC Hotels, Jaipur and Storii by ITC Hotels, Jawai will exemplify the brand’s ethos to offer immersive experiences. Including the recently announced signing of Storii Jaisalmer, Brand Storii will now have a total of 3 properties within the state of Rajasthan. Speaking on the expansion of Brand Storii, Anil Chadha, Chief Executive, ITC Hotels said, “Brand Storii is a diverse collection of properties that tell their...
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The motorcycle rental market is experiencing significant growth, with an increasing number of tourists and commuters opting for two-wheelers for travel. Motorcycles offer convenience, flexibility, and cost-effectiveness, making them a popular choice. In recent years, electric motorcycles have gained traction due to their eco-friendliness and low operating costs. The global motorcycle rental market size is estimated to grow by USD 354.4 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 15.42% during the forecast period. Increase in road-trip tourism is driving market growth, with a trend towards rise in popularity of renting motorcycles through e-commerce. However, rise in on-demand taxi operators poses a challenge. The Motorcycle...
Read MoreUN Tourism executive council meets in Barcelona Tourism leaders from across the world have met again to shape the sector’s future, emphasizing the sector’s vital economic importance while also placing it firmly on the political agenda. The 121st session of the Executive Council of UN Tourism welcomed representatives of 47 countries, including 18 Ministers of Tourism in Barcelona, to advance the Organization’s vision for the sector as it achieves full recovery from the impacts of the pandemic. According to UN Tourism data, around 285 million tourists travelled internationally in the first quarter of 2024, 20% more than the same period of last year, while international tourism receipts grew back to USD 1.5 trillion in 2023. Investments and education remain priorit...
Read MoreThe homecoming marks the close of a remarkable chapter in the carrier’s rebuild journey The Cathay Group celebrated the completion of one of the most unprecedented undertakings in its 77-year history when on 6 June 2024, it reactivated the 85th and final aircraft to be long-term parked overseas. After nearly four years in the Australian desert, Cathay Pacific’s Airbus A330 registration B-HLV returned to Hong Kong, where it will now undergo an extensive hangar maintenance check. B-HLV was the first of the Cathay Group’s aircraft to go into long-term parking overseas on 28 July 2020, as global air travel came to a near-standstill during the pandemic. At the height of the pandemic, Cathay Pacific and HK Express had to park the majority of their passenger fleet at Hong Kong Internationa...
Read MoreVisa easing and more air capacity would help Experts convened by PATA also show that digitalisation, localisation, seamless travel payments and tourism aligned to values are redefining the new Asia Pacific tourism landscape New consumer preferences and habits have emerged in the first half of 2024 in an Asia Pacific tourism sector which is recovering from the pandemic years in an uneven manner. The post-Covid tourism surge from 2022 was initially powered by more affluent tourists seeking relaxation amid nature, user convenience, sustainable and authentic local tourism experiences, all enabled by heightened digitisation of travel. Those trends have since evolved. Travel experts speaking at the Pacific Asia Travel Association’s “Navigating the Path to Tourism Recovery” web...
Read More# Hotel de Crillon, A Rosewood Hotel, voted as the top luxury hotel in the world # Asian attractions chosen as best things to do # Hot springs and ski resorts globally are top-of-mind for travellers # Singapore dominates the restaurant scene in Asia # Three-Michelin-star Odette as the best fine-dining restaurant in Asia Leading online travel service provider Trip.com has released its 2024 Trip.Best Global and Asia 100 lists, a collection of curated travel rankings based on real user reviews and year-round sales popularity. These Trip.Best lists enable global travellers to select the best experiences a destination has to offer, including hotels and attractions, as well as lifestyle choices such as restaurants and nightlife. Top Hotels, Attractions, Nightlife, Restau...
Read MoreAsia and the Pacific reopens to tourism China has recovered its position as top spender on international tourism in 2023 as Asia and the Pacific consolidates its recovery from the impacts of the pandemic. In 2022, the list of top spenders was headed by the United States. France, Spain and USA took the top spots for most-visited destinations. Top Tourism Spenders in 2023 Chinese expenditure on travel abroad reached USD 196.5 billion in 2023, ahead of the United States (USD 150 billion), Germany (USD 112 billion), the United Kingdom (USD 110 billion) and France (USD 49 billion). Making up the top ten spenders for 2023 are Canada, Italy, India, the Russian Federation and the Republic of Korea. India jumped to 8th place, from 14th in 2019, confirming the growing importance of the cou...
Read MoreThe International Air Transport Association (IATA) has announced strengthened profitability projections for airlines in 2024 compared with its June and December 2023 forecasts. An aggregate return above the cost of capital, however, continues to elude the global airline industry. Outlook highlights include: Net profits are expected to reach $30.5 billion in 2024 (3.1% net profit margin). That will be an improvement on 2023 net profits which are estimated to be $27.4 billion (3.0% net profit margin). It is also an improvement on the $25.7 billion (2.7% net profit margin) forecast for 2024 profits that IATA released in December 2023. Return on invested capital in 2024 is expected to be 5.7%, which is about 3.4 percentage points (ppt) below the average cost of capital. Operating...
Read MoreThe International Air Transport Association (IATA) released data for April 2024 global passenger demand with the following highlights: Total demand, measured in revenue passenger kilometers (RPKs), was up 11.0% compared to April 2023. Total capacity, measured in available seat kilometers (ASK), was up 9.6% year-on-year. The April load factor was 82.4% (+1.0ppt compared to April 2023). International demand rose 15.8% compared to April 2023; capacity was up 14.8% year-on-year and the load factor improved to 82.2% (+0.7ppt on April 2023). Domestic demand rose 4.0% compared to April 2023; capacity was up 2.1% year-on-year and the load factor was 82.6% (+1.5ppt compared to April 2023). “Passenger demand has been growing for 36 consecutive months. As we enter the peak northern s...
Read MoreWhile 95% of national tourism policies acknowledge nature as a primary asset for tourism, actual detailed plans for sustainable management practices are often lacking, a new report from UN Tourism reveals. Published on International Day of Biodiversity, the report "The Integration of Biodiversity in National Tourism Policies", explores the intricate relationship between the tourism sector and biodiversity, which encompasses the diversity within species, between species and of ecosystems. It assesses how 80 national tourism policies incorporate biodiversity values and aims to deepen the understanding of the references to biodiversity within these policies. The report comprises four detailed subsections that examine the integration of biodiversity within policy narratives, policy ...
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