Thursday, April 9, 2020

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  • Profit warnings spike in travel sector
    Listed travel and leisure companies are issuing profit warnings at an unprecedented rate, according to latest analysis from EY. The sharp uptick has been triggered by coronavirus pandemic.
  • Airbnb wins new funding to battle Covid-19 downturn
    Airbnb has secured $1 billion in additional funding as it seeks to weather a downturn in demand following the coronavirus pandemic. Demand has fallen by as much as 90 per cent in some markets as the world battles the outbreak.
  • Bench Events launches Hospitality Tomorrow to global audience
    More than 5,000 hospitality industry professionals have joined Hospitality Tomorrow, a free online summit, taking place today. The event will examine the impact of the Covid-19 crisis on the hospitality industry.
  • Seven Palm on track for late-2020 completion
    United Arab Emirates-based upscale residential, hospitality and commercial property developer Seven Tides has said more than 27 per cent of the work on its prime property, Seven Palm, located on Palm Jumeirah in Dubai is now complete.
  • Accor cancels dividend and furloughs head office team to battle coronavirus
    Accor is withdrawing a dividend payment of €280 million for financial 2019 in the wake of the coronavirus pandemic. The company said, today, more than half its branded hotels worldwide are closed, with the figure likely to rise to over two thirds in the coming weeks.

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