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Anton Govor left his corporate finance career to become an Airbnb host on Lake Garda in Italy. I visited Lake Garda for the first time when I was 21The main guesthouse at GardaDoma. Courtesy of GardaDomaDuring a drive from Munich to Florence, I stopped in Lake Garda completely by chance. AdvertisementI chose to leave my finance career behindIn December 2018, my second son was born at Lake Garda, and I took parental leave at our house. I devote 1 to 4 p.m. to property maintenance and planning the dinner menu with our work family, who take shifts in cooking.
Persons: Anton Govor, Govor, he's, , It's, Ernst & Young, Brenzone, Airbnb Organizations: Garda, Service, Ernst &, MOEX Group, Lake Garda Locations: Italy, Brenzone sul Garda, Moscow, Lake, Munich, Florence, Europe, Russia, Easter
CNN —Locals in the Canary Islands are mobilizing to protest against excessive tourism, blaming visitors for pricing them out of their homes and causing environmental damage. “Every person who joins the human chain sends a strong message to the government: The Canary Islands are not willing to continue sacrificing their future,” it said in a post on Facebook published Wednesday. The group also blames local authorities for approving large tourist developments that worsen existing issues, such as increasing water shortages. “The objective is to create a committee of experts to establish common guidelines,” said Jéssica de León, minister for tourism and employment in the Canary Islands regional government, in a statement published Tuesday. Concerns about the impact of tourism are not unique to the Canary Islands.
Persons: Fundación, , , EyesWideOpen, Jéssica, León, De León Organizations: CNN, Locals, Se Agota, Facebook Locations: Africa, Tourism, Tenerife, Canary, Spanish, Barcelona
Is it last orders for London’s nightlife?
  + stars: | 2024-04-06 | by ( Anna Cooban | ) edition.cnn.com   time to read: +9 min
London CNN —It’s Thursday, 11.00 p.m., and on a street in London’s Soho district, there’s a loud clatter. “People haven’t got the money,” she told CNN. “That’s when their bills started coming through, the first heating bills from the winter,” he told CNN. Even before the ravages of the pandemic, the number of London’s nightlife venues was in steady decline. They don’t just go out for the sake of going out now,” she told CNN.
Persons: London CNN —, Lesley Lewis, haven’t, , Michael Kill, Grazyna, ” Kill, , , that’s, Kill’s, Jeremy Joseph, Freddie Mercury, ” Joseph, Jack Henry, Henry, Lutz Leichsenring, Fabian Sommer, Leichsenring, London’s, Sadiq Khan, Amy Lamé, Lamé, Khan, Lamé “, Charlie Fenemer, It’s, Becky Lam, Lam, ” Chris Lau Organizations: London CNN, Staff, CNN, Time Industries Association, York Minister, London, , , German Commission, UNESCO, United Nations, Office, National Statistics, City Hall, Labour, Shady Locations: London’s Soho, London, Wales, Soho , London, Hoxton, London’s, Berlin, “ Berlin, Hong Kong, Soho, Hong, Beijing
Bangkok, Thailand CNN —On the surface, Thailand’s annual Songkran festival appears to be just one great big water fight. Pipad Krajaejun, a history lecturer at Bangkok’s Thammasat University, says it’s difficult to pinpoint exactly when the water fights became such a key part of the festival. (We’ll share more on the water fights below.) Some towns limit the water fights to one day, so be sure to check ahead if you’re planning to join the battles. Soe Zeya Tun/ReutersAmong the highlights of the festival is the Maha Songkran Parade, which will happen on April 11.
Persons: Thailand CNN —, that’s, , Songkran, Boonserm Satraphai, Pipad, , Soe Zeya Tun, University’s Pipad, Nam, Chalinee Thirasupa, MBK, Lauren DeCicca, John S Lander, it’s, CNN Travel’s Karla Cripps, she’s Organizations: CNN, Thailand CNN, UNESCO, Heritage, Bangkok’s Thammasat University, CNN Travel, , Thailand’s Tourism Authority, of, Reuters, Central Department, Thai Locations: Bangkok, Thailand, it’s, Chiang Mai, Thailand's, Khao San, Chiang, Old City, Pipad, Chiangmai, Thailand’s, Ratchadamnoen, Lanna, San
Kevin Plank, founder of Under Armour, during a CNBC interview on "Mad Money" on Feb. 28, 2018. Under Armour announced on Wednesday that CEO Stephanie Linnartz is stepping down from her role just over a year after she started, and founder Kevin Plank will return as the brand's chief executive. Linnartz took over as Under Armour's CEO in February 2023 after spending nearly 30 years at Marriott International, most recently as its president. Plank will remain a director on Under Armour's board but will hand over the chair position to Mohamed El-Erian, chief economic advisor at Allianz, Pimco's parent company. In a statement, Linnartz said she feels "honored" to have served as Under Armour's CEO.
Persons: Kevin Plank, Armour, Stephanie Linnartz, Linnartz, Plank, Mohamed El, Stephanie Organizations: CNBC, Marriott International, Allianz, Armour's
The Big Pregame (Vegas’s Version)
  + stars: | 2024-02-10 | by ( Emmanuel Morgan | ) www.nytimes.com   time to read: +1 min
Music blared as the Baltimore Ravens wide receiver Odell Beckham Jr. had a conversation across a barricade. Close by were Machine Gun Kelly, the platinum-blond musician, and his partner, the actor Megan Fox. Outside the 45,000-square-foot, strobe-light-filled tent near the Las Vegas Strip, a man climbed a life-size statue of an elephant. Super Bowl week is important for business: When the N.F.L. crowns a champion, it also feeds television networks and gives a valuable platform to advertisers and performing artists.
Persons: blared, Odell Beckham Jr, Kelly, Megan Fox, partyers, , Brian Toll Organizations: Baltimore Ravens, h.wood
“It’s amazing the political power that Hispanics are creating here in the state of Nevada,” Munoz said during a break at his Vegas restaurant, 911 Taco Bar. CNN traveled to Nevada – a key battleground next year – as part of our project tracking the 2024 campaign through the eyes and experiences of voters. And I think Biden’s done the same thing for us.”Antonio Munoz speaks to CNN's John King at his restaurant 911 Taco Bar in Las Vegas, Nevada. Yeah, that’s me.”Like Gurr, Sanchez is a Haley fan. Lombardo made inroads with Latino voters, and Padilla expects a hard fight to keep Nevada blue in 2024.
Persons: Las Vegas CNN — Antonio Munoz, Ronald Reagan, ” Munoz, Reagan, Munoz, , , Joe Biden, Donald Trump, “ Trump, ” Antonio Munoz, CNN's John King, Mercado, Trump Valeria Gurr, ” Gurr, ” Valeria Gurr, Biden, , Ron DeSantis, Nikki Haley –, Zoila Sanchez, ” Sanchez, Sanchez, Barack Obama, Trump, “ He’s, ” Zoila Sanchez, CNN Sanchez, George W, Bush, Haley, Haley’s, Carlos Padilla, ” Padilla, ” Carlos Padilla, CNN Padilla, we’ve, Republican Joe Lombardo, Democratic Sen, Catherine Cortez Masto, Lombardo, Padilla, I’ve, they’ve Organizations: Las Vegas CNN, Taco, Republican, CNN, Republicans, GOP, Taco Bar, JCPenney, Air Force, Las, Democrat, , , Trump, Sunshine State, South Carolina Gov, White House, Republican Party, Biden, Trump loyalists, Delegates, Culinary Union, Democratic, Obamacare Locations: Las Vegas, Nevada, Vegas, Las Vegas , Nevada, , Henderson, Chile, Florida, United States, Mexico, ” Nevada, Treasure
The mid-Atlantic state registered a record unemployment rate of 1.6% in September — less than half the national unemployment rate of 3.8% that month — Labor Department data shows. That’s the lowest seasonally adjusted unemployment rate of any state on records going back to 1976, according to a CNN analysis. However, Maryland’s job market is still robust, with government and health care employers adding jobs at a brisk pace. Here’s a dive into the labor market of the state with the lowest unemployment rate in American history:Where the jobs areThe biggest industries in Maryland are government, health care, education and professional services. Fort Meade, a military base, is the largest employer in the state, according to Moody’s Analytics.
Persons: ” Christina DePasquale, Johns, Colin Seitz, , ” Seitz, There’s, , Mary Kane, what’s, Kane, ” Daniel Zhao, ” Zhao Organizations: DC CNN, — Labor Department, CNN, Baltimore, Fort Meade, University, of Maryland, Johns Hopkins University, Labor Department . State, Health, Johns Hopkins Carey Business School, Moody’s, Maryland, Bureau of Labor Statistics, Maryland Hospital Association, Labor, Maryland Chamber of Commerce, , Maryland Department of Labor, DC Locations: Washington, Atlantic, California, Lexington, Maryland, Fort, Florida, Texas, Virginia
Airbnb started out with all mom-and-pop hosts, but now big firms are eyeing it as a money-maker. AdvertisementAdvertisementIt started buying up houses in Florida, and renting them out on Airbnb for hundreds of dollars a night, the Wall Street Journal recently reported . "The majority of Airbnb hosts share only one listing," according to a spokesperson. But the shift in operators from mom-and-pop hosts renting their spare bedrooms to major companies renting hundreds of units out has changed the guest experience, too, according to NerdWallet. AdvertisementAdvertisementShort-term rentals can be a volatile investmentRelying on Airbnb, though, can be risky for both mom-and-pop hosts and big-money investors.
Persons: Airbnb, , Brian Chesky, AirDNA, Skift, Jelke Bosma, Jamie Lane, NerdWallet Organizations: TPG, Service, Wall Street Journal, Saluda, Investment, Davidson, Capital Management, University of Amsterdam Locations: Florida, San Francisco, New York, WEG, Pompano Beach, Fort Lauderdale
Some hospitality businesses are becoming more inclusive with accessible tech for disabled travelers. Digital and physical tech has helped improve accessible travel experiences, but more can be done. Lawrence Sumulong/Lincoln CenterImproving accessible tech for the future of travelThe hospitality industry has a long way to go when it comes to accessibility. Two of the biggest issues with increasing accessible tech in this field are documentation of its benefits and the price of acquiring and integrating the tech. Many hotels and destinations either have trouble notating, or simply do not document, how much revenue they've made because of the accessible tech and services they provide.
Persons: , neuromyelitis optica, Conde, Terrell Lopez, that's, Isabelle Ducharme, Ducharme, Rod Stewart, Kéroul, it's, Simon Clark, Steve Freihon, Miranda Hoffner, Lincoln Center . Lawrence Sumulong, Lincoln Center Miranda Hoffner, Hoffner, Lawrence Sumulong, Brian Brennan, Brennan Organizations: Service, Kéroul, Ministry of Tourism, Tourism, Quebec Ministry of Tourism, Bonjour, Lincoln Center, Lincoln Center ., Lincoln, MMGY Global Locations: Quebec, Mexico, Stoneham, Playa Del Carmen, Atlantic City , New Jersey, New York, York City
Many cities have come full circle to worrying about too many tourists rather than too few. "They just come, take a nice selfie, publish them on social media, increase the popularity of this place … and leave," she said. And an additional 50 million international tourist arrivals are expected per year — mostly from Asia — between now and 2030, according to the U.N.'s World Tourism Organization. James Matsumoto| Sopa Images | Lightrocket | Getty ImagesSome travelers supported Bhutan's $200 per day Sustainable Development Fee, which was announced in 2022. Managing 'tourist flow'The United Nations World Tourism Organization secretary-general, Zurab Pololikashvili, told CNBC Travel that the key to overcoming overtourism lies in "tourist flow."
Persons: Lionel Saul, Tatyana Tsukanova, What's, Tsukanova, Reinhard Hormandinger, Saul, Jesus Merida, It's, Luca Zanon, Ivan Saprov, Saprov, Miyajima, James Matsumoto, Zurab Pololikashvili, overtourism, Jon Hicks, , Darrell Wade, Reinhard Hoermandinger Organizations: Hospitality Business, United Nations, Asia —, Tourism Organization, South, Afp, Getty, Guardian, daytrippers, CNBC, United Nations World Tourism Organization, CNBC Travel, Stone, Japan Times, Intrepid Travel Locations: Lausanne, Switzerland, Asia, South Korean, Machu Picchu, Peru, Acropolis, Athens, Borobudur, Indonesia, Sardinia, Venice, Bora Bora, Amsterdam, Spanish, Malaga, Spain, France, trialing, daytrippers . New, Valencia, Manchester, England, Thailand, Iceland, U.S, Bali, Germany, Yogyakarta, Labuan Bajo, Lake Toba, Austria
CNN —Hackers stole Social Security numbers and driver’s license numbers from a “significant number” of loyalty program customers of Caesars Entertainment, the hospitality and casino giant said Thursday. The hackers broke into computer systems via “a social engineering attack” on an IT support contractor, according to the filing. “We have taken steps to ensure that the stolen data is deleted by the unauthorized actor, although we cannot guarantee this result,” Caesars Entertainment said. The company said on Monday, when news of the incident broke, that it had shut down certain computer systems to protect its data. Bloomberg News reported on Wednesday that Scattered Spider was responsible for the pair of cyberattacks on Caesars Entertainment and MGM Resorts.
Persons: , , Charles Carmakal, Mandiant, Rachel Tobac Organizations: CNN, Caesars Entertainment, MGM Resorts, Securities and Exchange Commission, FBI, Mandiant Consulting, Google, Bloomberg, SocialProof Locations: Vegas, Las Vegas, United States, United Kingdom
Venice's city council on Tuesday approved a long-awaited regulation to tax day visitors 5 euros ($5.38) to visit the city. Overnight travelers are exempt, though they're subject to a separate tourist tax implemented in 2011. Why is Venice taxing day visitors? The new tax is an attempt to "protect the city from mass tourism," Luigi Brugnaro, Venice's mayor, posted on X, formerly known as Twitter. The city of Venice currently fines visitors who eat or drink on the ground, sit on monuments and bridges, or swim in its canals, according to the city's website.
Persons: Luigi Brugnaro, overtourism, Tatyana Tsukanova, Tsukanova, Miguel Medina Organizations: EHL Hospitality Business School, Venice, Afp, Getty Locations: Venice's, Venice, Belgium, Lausanne, Switzerland, Bhutan
US consumers are done splurging, Fed report suggests
  + stars: | 2023-09-07 | by ( Bryan Mena | ) edition.cnn.com   time to read: +5 min
Washington, DC CNN —After a summer of robust consumer spending, America’s bars, hotels and restaurants say the era of post-pandemic splurging by US consumers has likely drawn to a close. “Consumer spending on tourism was stronger than expected, surging during what most contacts considered the last stage of pent-up demand for leisure travel from the pandemic era,” the report said. Consumer spending rose 0.8% in July, the strongest monthly spending gain since January. But that strength in leisure spending began to level off toward the end of August, the latest Beige Book shows. Still, leisure spending varied by region, with some reporting a noticeable slowing and others saying it is holding steady.
Persons: , Taylor Swift, Barbie, , Morgan Stanley, Goldman Sachs, Susan Collins Organizations: DC CNN, Federal Reserve, Warner Bros, Hospitality, , Street, Fed, Boston Locations: Washington, Boston Fed’s, Atlanta Fed’s, York, Boston
In 2015, the couple quit their full-time jobs as web designers to start a hospitality business, The Joshua Tree House. Now, the group's properties include two that are available for guests to book in Joshua Tree, California and Tucson, Arizona. Lucas Mullikin for CNBC Make ItIn 2018, Rich was browsing listings online when he came across what looked like an empty canyon in Tucson, Arizona. The Joshua Tree House: Tucson, Arizona inn has seven bedrooms. Lucas Mullikin for CNBC Make It
Persons: Sara, Rich, Combs, Joshua Tree House, Joshua, Lucas Mullikin, Joshua Tree, Banks Organizations: CNBC Locations: Arizona, Joshua Tree , California, Tucson , Arizona, Marfa , Texas, San Francisco, Posada
The cost to make a flat white, one of the most popular Australian coffee orders, jumped by nearly one-fifth. The result is smaller profits, a shrinking pool of regular customers and business owners heading for the exit. Before COVID-19, hospitality venues were about one-third of Australian small businesses advertised for sale. It paused in July but warned it may resume hiking if inflation, still running at 7%, fails to slow. "Some of my regulars I used to have will still come and get coffee and say, 'We had to bring lunch.
Persons: Jack Hanna, Hanna, Damian Krigstein, Peter Meredith, Guy Cooper, insolvencies, Patrick Coghlan, that's, David Cox, Cox, Byron Kaye, Lewis Jackson, Praveen Menon, Sonali Paul Organizations: Reuters, SBS Business, Link Business Sales Australasia, Australian Securities and Investments, Thomson Locations: SYDNEY, Europe, Sydney, Ukraine, Sydney's
Global manufacturing is sputtering
  + stars: | 2023-06-11 | by ( Bryan Mena | ) edition.cnn.com   time to read: +8 min
S&P Global data showed that the US manufacturing sector fell into contraction territory in May. Business conditions in China’s manufacturing industry, the largest in the world, improved in May, according to the Caixin manufacturing Purchasing Managers’ Index. Globally, manufacturers’ optimism fell to its lowest level since December, according to the JPMorgan Global Manufacturing PMI. The possibility of China reinvigorating global economic growth is slipping. That could eventually lead to global manufacturers trimming their workforces if demand for goods continues to weaken and their backlogs shrink further.
Persons: , Ariane Curtis, “ We’ve, Tom Garretson, Jerome Powell, hasn’t, won’t bode, Liu Young, Monish Patolawala Organizations: DC CNN — Manufacturers, Factories, P, Institute for Supply Management, Commerce Department, JPMorgan Global Manufacturing PMI, Capital Economics, International Monetary Fund, RBC Wealth Management, Credit Suisse, UBS, The Federal Reserve, European Central Bank, Fed, Apple, 3M, National Association of Manufacturers Locations: Washington, United States, Ireland, China, Europe, Germany, Europe’s
Asian Americans own 10% of small businesses in the US, but AAPI entrepreneurs still face challenges. Despite that, AAPI entrepreneurs still face unique struggles. As they've collaborated with their network of makers, Byun and Park have identified five challenges that need to be overcome to let AAPI entrepreneurs thrive. Fifty-eight percent of AAPI entrepreneurs have struggled with federal, state, and local programs to help small businesses. A good step is to learn the ins and outs of the US Small Business Administration's funding programs for small businesses.
Persons: Arnold Byun, , MAUM, they've, they'll, they're, Byun Organizations: Service, Business Development Center, AAPI, US, Business, SBA Locations: Kioh, Park, American
More and more businesses are asking customers to tip. It's driven in part by the spread of digital payment technologies that include prompts to tip workers. Workers are getting more expensive, and tips help cover the costBusinesses relying on tips to help pay their workers is far from a new phenomenon — particularly in the restaurant industry. One potential reason service businesses are warming up to tipping is that they're under particular pressure to keep labor costs in check. In recent years, many service businesses have struggled to attract workers and been forced to raise pay considerably as a result.
Nory has created an AI operating system to enable hospitality businesses to operate efficiently. "The hospitality industry has been under a lot of pressure, with inflation and staffing issues," he told Insider. Sheridan founded Nory in 2020 to help restaurateurs and other hospitality businesses "navigate that environment so they perform consistently." The platform is used by a range of UK and European hospitality businesses, including Stonegate Pubs and Dr. Juice. "Our thesis is that the hospitality industry is ripe for disruption," he said.
This expected strength in leisure spending means big business for an industry that was on its knees just three years ago. When the pandemic began, restaurants, bars and hotels were hard hit, shedding more than 8 million jobs in the first few months of 2020. A recent survey from Bank of America showed that 68% of Americans plan to take a vacation this year. Vacationing remained elevated in April with 2.7 million Americans not at work because they were on vacation, the highest level for that month since 2017. Leisure spending is usually first on the chopping block because of its discretionary nature.
CEO Andreas King-Geovanis walked Insider through the pitch deck he used to raise the funds. Guests can book units in more than 15 Roami buildings across Miami, New Orleans, Nashville, and Austin on Airbnb or Booking.com. King-Geovanis said that the end of 2022 was a challenging time to raise funds as a short-term-rental business. That's why the pitch deck King-Geovanis used during the recent fundraise focused so heavily on Roami's profitability, partly due to labor- and cost-saving technologies. King-Geovanis walked Insider through the pitch deck he used to raise Roami's latest round.
What King Charles' coronation means for the UK economy
  + stars: | 2023-05-03 | by ( Hanna Ziady | ) edition.cnn.com   time to read: +8 min
But the UK economy as a whole could suffer as workers take an extra day’s holiday. John Lewis' Coronation Lewis Bear. John Lewis & PartnersDepartment store John Lewis has had to limit in-store purchases of its Coronation Lewis Bear to two per household, and the teddy is out of stock online. For the coronation, UK luxury brands “have procured unique merchandise at all levels of the economy and we’re seeing people buying it, particularly Americans and EU customers,” she added. (The coronation holiday will be the third holiday Monday this month.)
Sara and Rich Combs bought the abandoned inn for $615,000 and poured over $500,000 into renovations. The couple already owned and operated The Joshua Tree House, a property comprised of individual guest homes in California. This space was only about a six-hour drive from Joshua Tree and offered a different, but still natural setting. The rooms in Joshua Tree House: The Posada range from $210 to $427 a night. Sara and Rich Combs
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPeople will still want to travel in the long term: CapitaLand Investment's lodging divisionBeh Siew Kim, chief financial and sustainability officer of the real estate investment management company, discusses the outlook for the hospitality business and the changing habits of corporate travelers
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