United Kingdom
United States
Asia Pacific
Hilton group hotels suffer 31% profits slump
Hotels in the Hilton group suffered a £65 million downturn in profits last year – with properties in European capitals particularly badly hit. The company blamed the Iraq war, SARS, the continued threat of terrorism and economic decline on the 31% slump from a profit of £212 million in 2002 to £146 million last year. “We are not alone in facing tough times, but with strong brands and strong management we are better equipped than most to cope,” said chief executive David Michels. “Following travel trends, we focused marketing locally rather than internationally and as a result occupancy held up surprisingly well. Rate, however, was challenging and we have faced cost pressures from insurance, energy costs and, in some cases, union-led wage increases.” Looking forward, Mr Michels gave a cautious outlook, saying: “There are some signs of gradual recovery emerging in the hotel sector but we need to see an upward trend in our key markets for some months to restore confidence and strengthen rates.” He said that technology was playing an increasing role in the hotel industry. As a result, Hilton has opened a series of local language websites focussing on its four largest source markets. “By driving bookings through our websites, we give customers easy access to the full range of Hilton brands and guaranteed best room rates,” added Mr Michels. The company opened 14 hotels in 2003 and plans a further 37 in the next two years. Report by Phil Davies
Kittipong Prapattong’s Plan for Thailand’s Tourism Growth: Taxes, Visas, and Campaigns
James Jin: Didatravel’s Journey from China to Global Reach and the Impact of AI on Travel
Darien Schaefer on Pensacola’s Evolution: From Small Town to Global Destination
Florida Tourism’s Next Frontier: Dana Young on Expanding Beyond the Classics
Patrick Harrison on Tampa Bay Tourism’s Resilience and Marketing Strategy
Bubba O’Keefe on Clarksdale’s Vibrant Music Scene
Commemorating Elvis and Embracing Tupelo’s Culture with Jennie Bradford Curlee
Craig Ray and the Expansion of the Blues Trail
Presenting Mississippi’s Cultural Trails with Katie Coats
Robert Terrell: A Journey Through BB King’s Influence
Rochelle Hicks: Celebrating Mississippi’s Musical Legacy
Exploring Jacksonville with Katie Mitura: The Flip Side of Florida
Dozens fall ill in P&O Cruises ship outbreak
Boy falls to death on cruise ship
Turkish Airlines flight in emergency landing after pilot dies
Unexpected wave rocks cruise ship
Woman dies after going overboard in English Channel