I've spent years traversing the world trying out different airline economy cabins, from premium carriers like Delta Air Lines and All Nippon Airways to budget ones like Norse Atlantic Airways and Spirit Airlines.
Wyndham's Global Growth, Spirit Air's Departing CFO and Accor's India Move
04.06.2024 - 11:01 / skift.com / Spirit Airlines / Rashaad Jorden / Sean Oneill / Peden Doma Bhutia / Jose Marmolejos / Geoffrey Ballotti / Scott Haralson
Good morning from Skift. It’s Tuesday, June 4. Here’s what you need to know about the business of travel today.
Apple Podcasts | Spotify | Overcast | Google Podcasts | Amazon Podcasts
Wyndham wants to shed its reputation for focusing on economy hotels in the U.S. The hotel group is looking to increase the number of upscale properties in its portfolio, reports Senior Hospitality Editor Sean O’Neill.
Wyndham CEO Geoffrey Ballotti said at a conference in New York on Monday that while the company loves the economy sector, it’s increasingly moving upscale. Ballotti added that Wyndham has added properties in Montreux, Switzerland and Detroit to its new lifestyle hotel brand HQ. Wyndham has also acquired several upscale brands across the world, including in Austria and India.
Next, Spirit Airlines Chief Financial Officer Scott Haralson is leaving the company to assume the same role at Hertz, writes Airlines Reporter Meghna Maharishi.
Spirit announced on Monday that Haralson will step down on June 14. Brian McMenamy, a vice president at Spirit, will be the carrier’s interim CFO. Haralson’s departure comes as Spirit has struggled to turn a profit since the pandemic, with its collapsed merger with JetBlue Airways and issues with Pratt & Whitney engines weighing on Spirit’s outlook.
Finally, Accor wants to take advantage of India’s booming middle class, writes Asia Editor Peden Doma Bhutia.
CEO Sebastien Bazin noted during its recent earnings call that India’sdemographic profile, especially its growing middle class, is its greatest asset. He added that at least 200 million Indians will enter the middle class within the next 10 years.
Accor currently operates 62 hotels in India across four segments: luxury, premium, mid-range, and economy. The company expects to open nine more properties this year.
Despite Accor’s optimism about India, the company’s India business currently represents only 2% of its global operations. Bazin acknowledged that Accor would have to revamp its strategy in India and hopes to reveal more this year.
Producer/Presenter: Jose Marmolejos
The website maxtravelz.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
Top Autors
Popular Topics
skift.com
20.06.2024 / 15:02
It’s Travel Company IPO Season in India!
If you thought the IPL season in India was big, just wait until you hear about the IPO season. Following TBO Tek’s debut on the Indian stock exchange last month, online travel company Ixigo listed on the Indian bourses this week. Join Skift’s Peden Doma Bhutia and Bulbul Dhawan as they discuss the market sentiment towards travel IPOs. Also, discover why Air India’s CEO stated that the airline’s investment in new aircraft will depend on the government’s policies on bilateral agreements and seat capacity grants, and why Accor’s CEO finds opening a hotel in India to be a tedious process. Catch all this and more in the latest edition of the Skift India Travel Podcast
skift.com
20.06.2024 / 06:01
The Largest IPO in India's Hospitality Sector
Which hotel group is coming up with the largest IPO in the history of India’s hospitality sector? Which large Indian carrier is now offering hotel booking options? Find out responses to all this and more as the Skift India Travel Podcast discusses the latest happenings in Indian travel, tourism, and hospitality in this episode.
skift.com
19.06.2024 / 09:23
Euro 2024: Asian Travelers Head to Germany
The UEFA Euro 2024 soccer tournament in Germany has sparked a surge in sports tourism, particularly among Asian travelers, according to data from Trip.com Group.
skift.com
17.06.2024 / 16:03
Goa's Plan: Indian Beach Destination to Digital Nomad Hub
Think of Goa and what comes to mind? Beaches, nightlife, and parties. Goa’s Tourism Minister Rohan Khaunte welcomes this image, but he wants travelers to see beyond it.
skift.com
17.06.2024 / 10:45
China Expands Visa-Waiver Program List: More Countries Added
China is opening its doors even wider to the world. Australia is now the latest country to join China’s expanding visa waiver program.
skift.com
16.06.2024 / 16:27
Minor Hotels CEO Plans to Fill Portfolio Gaps in India, U.S.
Minor International runs 540 hotels and aims to grow that count about a third by 2026.
skift.com
11.06.2024 / 15:25
Ask Skift: How Is India Marketing Tourism?
India’s clout in travel is booming, especially as the country’s growing middle class is poised to play a major role in the industry’s growth. India is also the world’s largest emerging outbound tourism market.
skift.com
11.06.2024 / 14:41
Leela Hotels IPO Eyes $2.5 Billion Valuation, Listing Likely in 9 Months: Report
The Leela Palaces, Hotels and Resorts looks to make a significant entry into the public market, seeking a valuation of approximately $2.5 billion in its upcoming initial public offering (IPO), as reported by Mint.
skift.com
10.06.2024 / 10:33
Ixigo's IPO Opens Today. What Its CEOs Told Skift
Having raised INR 3.33 billion ($40 million) from anchor investors on Friday, Ixigo opened its initial public offering (IPO) on Monday.
skift.com
05.06.2024 / 13:03
Ixigo IPO To Open Next Week: Indian OTA Aims to Raise $89 Million
Le Travenues Technology, the parent company of Indian travel aggregator Ixigo, will be launching its initial public offering (IPO) on June 10. The company announced on Wednesday that the INR 7.4 billion ($89 million)-IPO size, includes a fresh issuance of equity shares worth INR 1.2 billion ($14.4 million) (and an offer for sale of INR 6.2 billion ($74.4 million). The IPO price band ranges from INR 88 to 93 per share.
skift.com
04.06.2024 / 03:31
Top Hotel CEOs Bet on Group Bookings, AI, and India for Growth
The world’s top hotel executives are betting big on AI, groups, and India amid a post-pandemic travel resurgence that’s bolstering the bottom line despite economic headwinds and labor challenges.