Issue 2249 - 12 July, 2019

    Trump restrictions hit Cuba

    Tourism numbers to Cuba are expected to be down 8.5% this year, as US restrictions bite. Officials now expect 4.3m arrivals, down from 4.7m last year and way off a 2019 target of 5m, reports Reuters. Trump government actions have rolled back the Obama era easing of US travel restrictions, making it harder for American [...]

    W signed in Buenos Aires

    Marriott has signed to launch its W brand in Argentina. A 150 room hotel, and serviced residences, are planned as part of a development by GNV Group in Buenos Aires. The project, with its landmark 34 storey tower, is expected to open in 2024. The W brand is already present across the region in Bogota, [...]

    Park Inn heads to Wismar

    Radisson Hotel Group has signed to open a Park Inn in the north German city of Wismar. The 98 room new build will open in autumn 2019. Shipbuilding group MV Werften is developing the hotel, which will operate under a franchise agreement. The property will be Radisson’s fourth hotel on the Baltic coast of Germany. [...]

    Fosun backs Cook

    Thomas Cook is negotiating a refinancing with shareholder Fosun and its banks. A GBP750m cash injection is planned, alongside a debt for equity swap that will see existing shareholder interests diluted. As a result, Fosun is likely to be the controlling shareholder of Thomas Cook’s tour operations, and a minority shareholder in the airline business. [...]