TUI considers hotel salesTour operator TUI is considering asset sales, as it looks to bolster diminishing reserves. In an interview, CEO Friedrich Joussen suggested putting its hotels into a fund, as one way to release cash, reports Reuters. TUI is also understood to be tapping the German government for further state aid, as well as considering disposals or [...]
Pandemic travel trendsStaycations and road trips will remain a feature of family holidays in 2021. More people will travel, and an increasing number want to take “bucket list” trips, according to a survey by Vrbo. Two thirds of those taking “flexcations” combining work and play during an extended stay, say they will do so again. The survey [...]
Red Sea upgradeSaudi Arabia’s Red Sea tourism project has increased its expected hotel inventory to 16 properties. The move comes in expectation of a V shaped recovery in tourism after the pandemic, reports Reuters. The first phase, expected to be completed by the end of 2023, will aim to attract 300,000 visitors annually. The Red Sea Development [...]
Campbell Gray signs CairoCampbell Gray Hotels has signed to add a property Cairo, Egypt. The 70 room property, which will overlook the Kings Polo Academy, will open in early 2022. The hotel will be developed in partnership with Esmeralda Real Estate. Campbell Gray will also operate a new clubhouse to be built serving the polo academy.
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