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1. Seasons expanding for European travel
High heat and desire for travel are pushing a wave of off-season travel to some European destinations, and various American airlines are looking to cash in on that shift, CNBC reports.
"For example, American Airlines’ flight to Edinburgh, Scotland, from New York began in March," the news outlet reports. "United Airlines’ nonstop route to Palermo, Sicily from Newark, New Jersey, will end in December and Delta Air Lines’ service to Rome from Minneapolis, Minnesota, will run into January, months later than they have in past years."
Executives saying the expanding travel season is a positive for the industry.
“It used to be so much lumpier. There used to be more: good season, bad season,” Delta President Peter Carter said. “There are so many places you can go in Europe year-round and still have an amazing experience, and that’s why we’re seeing such good demand into Europe.”
2. Scandic secures $776 million financing package
Stockholm-based Scandic Hotels Group has closed on a new 7.5 billion Swedish krona ($776 million) financing package that will help as the company takes over operations of Dalata Hotel Group properties," CoStar News' Terence Baker reports.
Ireland-based Dalata has a portfolio of 56 hotels and approximately 12,000 rooms and was bought by Scandic's owners, Pandox AB and Oslo-based Eiendomsspar AS, last year for €1.4 billion.
Pär Christiansen, Scandic’s chief financial officer, said the company is “pleased to further strengthen our banking group with additional relationship banks that combine broad international reach with strong local expertise across Scandic’s markets.”
3. What the hotel guests of the future want from tech
Hotel guests want tech-enabled hotel stays but with tech that operates in the background, CoStar News' Natalie Harms reports.
AI-powered personalization will be a key for elevating hotel experiences going forward.
"From a technology perspective, the way to [provide a customized experience] in a way that is not off-putting to a guest is to get the right type of information into the right hands at the right time," Denise Walker, chief information officer at SH Hotels & Resorts said.
4. EasyJet to sell in $7 billion deal
Reuters reports U.K.-based budget airline EasyJet has agreed to a £5.5 billion ($7.34 billion) takeover bid from investment firm Castlelake.
The take-private deal values the airline at £6.90 ($9.21) a share. The news outlet describes U.S.-based Castlelake as "a major lender to airlines and [that has] least airplanes to about 200 airlines."
The major obstacle remaining for the deal is European Union regulations that require airlines operating in the EU to be owned and controlled by European nationals.
5. Collapse of Cuban tourism industry continues
CNN has taken a deep dive into the continued struggles of tourism to Cuba amid U.S. sanctions.
Several prominent international hotel firms have already exited the Caribbean nation, including two Spanish hotel companies that pulled out of the country in June.
"Former tourism hot spots are now ghost towns, including Old Havana, the original settlement of the Cuban capital which was founded in the 16th century and is considered to be among the best-preserved examples of Spanish colonial architecture in the Americas," the news agency reports.