Travel Agent - January 7, 2008 - (Page 96)

TRENDWATCH Credit Crunch May Impact Leisure Travel Patterns PKF HOSPITALITY RESEARCH (PKF-HR) is reaffirming its forecast for a modest slowdown in U.S. lodging industry performance in 2008. For the year, PKF-HR is projecting occupancy levels to experience a slight decline (-0.7 percent), while average daily room rates (ADR) should grow 5.3 percent. The net result is a 4.5 percent gain in revenue per available room (RevPAR), the slowest pace of RevPAR growth since recovering from the 2001 to 2003 industry recession. On the consumer side, PKF-HR does not foresee an imminent catastrophic economic recession that would have a negative impact on lodging demand. “We are concerned that the residential credit-crunch might have a negative impact on leisure travel patterns in the summer of 2008. Fortunately, corporate profits continue to support commercial lodging demand and should mitigate any fall-off in leisure demand,” said Mark Woodworth, president of PKF Hospitality Research. New Hotel 34 Brands to Sell ACCORDING TO PRICEWATERHOUSECOOPERS, there were a total of 34 new hotel brand launches in the U.S. in the 34 months between 2005 and October 2007—the largest number of brand introductions in a three-year period since Use of Personal Travel Agents Set To Grow in U.K. According to a survey by private investment bank Barclays Wealth, about two-thirds of people with liquid assets of at least £1.5m employ personal travel consultants. ‘The True Value of Wealth’ also found that the same proportion employ personal shoppers and property agents, while nearly 80% have a private chef or a butler. A combination of rising earnings, bonuses and profits from property is expected to result in a big increase in the number of individuals having assets of £1.5m or more in addition to their homes over the next 10 years. CONNECTING YOU For more data and statistics on consumer and industry trends, visit www.travelagentcentral.com/stats $€ 1989. The launches included non-U.S. brands affiliat Gen-Xers and Millennials, independent brands, ating with hotels in the U.S., new concepts targeted and brands affiliated with established lodging companies. The brand introduction trend was led by the new brand introductions, which is the largest number of luxury brand introductions in a three-year period since 1982. luxury hotels segment, which had approximately 18 Dollar to Rise in Value Meanwhile, in its annual U.S. Lodging Industry Briefing, PWC noted that the U.S. dollar is forecast to progressively appreciate against the Euro rates are currently forecast to appreciate by an average of 5.8 percent in 2008 over 2007. through 2009. Specifically, dollar-to-Euro exchange TRAVEL AGENT (ISSN 1053-9360) is published bi-weekly 26 times per year, by Questex Media Group, Inc., 306 West Michigan St., Suite 200, Duluth, MN 55802. Subscription rates: $250 for one year in the United States; $350 for one year in Canada and Mexico; all other countries $350 for one year. Single copies (prepaid only): $4.95 in the United States, Canada and Mexico, and in all other countries. For air-expedited service, include an additional $75 per order annually. Include $6.50 per order plus $2 per additional copy for U.S. postage and handling. For current single copy or back issues on CD-rom, call 866-344-1315. Outside the US, please phone 615-377-3322. Periodicals postage paid at Duluth MN 55806 and additional mailing offices. POSTMASTER: Please send address changes to TRAVEL AGENT, P.O. Box 5066, Brentwood, TN 37024-5066. Canadian G.S.T. number: 840033278RT0001. Publications Mail Agreement Number 40017597. Printed in the U.S.A. Copyright 2008 Questex Media Group, Inc. All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical including by photocopy, recording, or information storage and retrieval without permission in writing from the publisher, Questex Media Group, Inc. Authorization to photocopy items for internal/educational or personal use, or the internal/educational or personal use of specific clients is granted by Questex Media Group, Inc. for libraries and other users registered with the Copyright Clearance Center, 222 Rosewood Dr., Danvers, MA 01923, 978-750-8400 fax 978-750-4470. For those not registered with the CCC, send permissions request to: questexpermissions@reprintbuyer.com or 800-494-9051, Ext 100. http://www.travelagentcentral.com/stats

Table of Contents Feed for the Digital Edition of Travel Agent - January 7, 2008

Travel Agent - January 7, 2008 Online Now Contents From the Editor From the Publisher Contributors Europe: Top Hotels in the Czech Capital, Prague Europe News & Notes Pacific/Asia: India's Tourism Boom Hawaii Spas: Send Your Spa-Loving Client to these Havens of Relaxation in the Islands Hawaii Briefs Las Vegas: Restaurants are Taking Center Stage as Vegas Becomes a Destination for Foodies California: San Diego, La Jolla and Coronado Offer a World of Options Close Together Ski/Snowboard: Mont Tremblant in Quebec, Canada New Orleans: Hotels for All Types of Travelers and Can’t-Miss Events to Consider Central & South America: Selling Santiago, Chile Caribbean & Bahamas: The Reef Atlantis, Cape Eleuthera Debut in the Bahamas in Time for the New Year Caribbean News & Notes Cruises: Onboard Enrichment Programs Grow as Cruisers Seek to Work on More than their Tans Cruise Lines Expand the Variety in their Shore Excursions with Special Activities and Adventures Cover Story: A New Era for Classic Luxury Travel Expo & Home Based Travel Agent Expo: Photos and a Recap of the Events Rail: Company Books Private Train Trips Agent Profile: Dave and Christa Krick, Advantage Cruise & Travel in Northern California Technology: XML Enhances Sabre and Amadeus Agenda: Fam Trips, Deals & Incentives, Calendar Onsite Reports from Queen Victoria Christening and Marriott Headquarters Funjet Vacations NCL’s New Ship, Norwegian Gem The African Country of Djibouti In the Spotlight Editorial Index Classified Marketplace Advertisers Index Trendwatch

Travel Agent - January 7, 2008

For optimal viewing of this digital publication, please enable JavaScript and then refresh the page. If you would like to try to load the digital publication without using Flash Player detection, please click here.