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I'm not worried about China, says Accor deputy CEO
  + stars: | 2024-10-25 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailI'm not worried about China, says Accor deputy CEOJean-Jacques Morin, Deputy CEO of Accor, discusses the firm's profit guidance raise and why he is not worried about China in the long term.
Persons: I'm, Jean, Jacques Morin Locations: China
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The dark side of the 2024 Paris Olympics
  + stars: | 2024-08-06 | by ( Natalie Musumeci | ) www.businessinsider.com   time to read: +11 min
Read previewAs the 2024 Olympics Games plays out in Paris, some nonprofits are warning of a dark reality looming over the sporting event. Wijeyakumar said Rahab's Daughters had distributed pamphlets ahead of the Paris Olympics at a local refugee camp. Rahab's Daughters has identified labor and sex trafficking occurring mainly within the manufacturing, construction, retail, and hospitality industries in Paris. The US National Human Trafficking Hotline explains on its website, however, that human trafficking is "notoriously underreported." These figures are based on interviews with survivors, reports Rahab's Daughters has received, and data it has collected from online ads.
Persons: , Sam Wijeyakumar, Rahab's, Wijeyakumar, Lauren Hersh, hadn't, Hersh, William Pinzón, Reyes, Jonathan Machler, Airbnb, Mark Godin Organizations: Service, Paris Games, Business, Volunteers, BI, Olympic, Paris, Labor, US Department of State, State Department, Olympics, National Institute of Justice, US Department of Justice, Coalition, CAP, Paris Olympics Locations: Paris, US, Poland, Germany, France, London
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Persons: Brian Pitz, Pitz, TipRanks, ServiceNow, Goldman Sachs, Kash Rangan, ServiceNow's, Ivan Feinseth, Feinseth, TNL Organizations: Wall Street, BMO Capital, BMO, YouTube, Tigress, Sports Illustrated Resorts Locations: TipRanks
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In a first, Anheuser-Bush InBev is the beer sponsor for the Olympic games with a non-alcoholic brew taking the torch. “If you think about the Olympics … it’s about travel, dining, culture, excitement, community.”All of those things meet every four years at the Olympics, which brings together millions of fans and thousands of athletes. Paris, a city known for its opulence, plays host this year to the first post-Covid games without any crowd restrictions for the first time in six years. (Both the summer games in Tokyo 2021 and 2022 winter games in Beijing either barred or limited spectators or visitors.) Even the most recent summer games, held in 2021 Tokyo and that barred spectators at the events, registered a 20% increase.
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London CNN —French luxury conglomerate LVMH has added a tiny Parisian bistro to its sprawling empire of designer fashion brands, jewelry makers and hotels. A dish served at Chez l'Ami Louis restaurant in Paris. Her lifestyle company Goop describes Chez L’ami Louis on its website as “one of the best, most venerable bistros in Paris.”“It is small and wood-paneled, with an ancient oven and a sick wine list,” Goop gushed. In 2019, the company acquired Belmond, which owns hotels and organizes luxury rail and river cruises, in a $3.2 billion deal. Earlier this month, LVMH announced “a strategic investment” in the Orient Express, a brand offering luxury train travel owned by French hospitality firm Accor.
Persons: Bernard Arnault, Chez L’ami Louis, LVMH, , Bill Clinton, Martin Scorsese, Victoria Beckham, Gwyneth Paltrow’s, Paris Arnault, Arnault, Kering, ” Arnault, Jeff Bezos, Elon Musk, Louis Vuitton Organizations: London CNN, Chez, Louis, CNN, Notre Dame, Bloomberg, Dior, Orient Express Locations: Paris
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAccor CEO: Anyone betting against hospitality is likely to be wrongAccor CEO Sébastien Bazin joins CNBC's 'The Exchange' to discuss the European economy, outlooks for hospitality, and more.
Persons: Sébastien Bazin, CNBC's
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAmericans don't 'play that much' in the luxury industry, Accor CEO saysAccor CEO Sébastien Bazin goes over the industry outlook.
Persons: Sébastien Bazin
Luxury hotel rates reached "peak levels" this year, with average daily rates up 70% compared to 2019, according to the luxury travel company Virtuoso. The price for luxury train travel is also soaring, with rates for Accor's yet-to-be-opened La Dolce Vita Orient-Express climbing 75% in 16 months. When money is 'no object'As inflation and rising costs abate, luxury travel prices are holding firm. Wealthy travelers also value new and different experiences, such as luxury train travel, he said. Booking early can save money on airfares, but hotel pricing works differently, he said.
Persons: aren't, Belmond, Accor, Henry Harteveldt, Harteveldt Organizations: CNBC Travel, Dolce Vita Orient, Orient, Express, Atmosphere Research Group Locations: Italy, Venice
Reservations for Italy's new "La Dolce Vita Orient Express" train open Tuesday. Starting rates for a one-night journey on the luxury train increased from 2,000 euros ($2,168) per person in December 2022 to 2,500 euros per person in November 2023. Both rates were set during a pre-sales reservation period, which required a refundable deposit. But starting rates have now jumped to 3,500 euros per person per night, according to a press release published in March. The train is set to start running in the spring of 2025, according to Accor, the French multinational hospitality company that operates the train.
Persons: That's Organizations: Vita
NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Travis Kelce was spotted dancing to Taylor Swift's "Love Story" in Las Vegas on Saturday. AdvertisementIn a clip from the video, Kelce can be heard leading the crowd while chanting, "You've got to fight for your right to party," as Marshmello played a remix of "Fight For Your Right" by the Beastie Boys. In a video uploaded to X, the NFL star was also seen attending Swift's concert at Sydney's Accor Stadium on Friday.
Persons: , Travis Kelce, Taylor, You've, Marshmello, Champagne, Swift, Kelce Organizations: Service, Kansas City Chiefs, Super, XS, Wynn Las Vegas, YouTube, Extra, Beastie, Entertainment, Sydney Zoo, Daily, NFL Locations: Las Vegas, Wynn Las, Vegas, Sydney
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAccor CFO names factors that will support industry's secular growth in 2024Martine Gerow, CFO of Accor, says "we're entering an environment where we have positive GDP growth" and "inflation is normalizing."
Persons: Martine Gerow, we're Organizations: Accor
Amazon Web Services CEO Adam Selipsky speaks at the CERAWeek by S&P Global conference in Houston, Texas, on March 7, 2023. Amazon said on Thursday that its cloud division grew revenue 13% year over year in the fourth quarter, exactly in line with analysts' projections. The company pointed to growing traction in cloud services for artificial intelligence. Revenue from Azure and other cloud services at Microsoft rose 30%, and Alphabet's Google Cloud revenue, which includes Google Workspace productivity software subscriptions, increased about 26%. The Amazon cloud group turned over $7.17 billion in operating income.
Persons: Adam Selipsky, Amazon, StreetAccount, Brian Olsavsky, Jensen Huang, Huang, Mark Mahaney Organizations: Amazon Web, P Global, AWS, Microsoft, Google, Nvidia, Accor, Mitsubishi UFJ Financial Locations: Houston , Texas, Las Vegas, Accor S.A
State-owned railway company Saudi Arabia Railways (SAR) recently struck a 200 million Saudi riyals ($53.33 million) deal with Italian hospitality company Arsenale Group to launch the first luxury train in the Middle Eastern kingdom. The destination has made a number of high-profile tourism investments in recent years – a $500 billion model city in the desert of northwest Saudi Arabia among them. Now Saudi Arabia is getting on board with the slow travel movement in a big way by moving into the luxury train market. Arsenale S.P.A./Saudi Arabia RailwaysSaudi Arabia’s decision to enter the luxury train market comes as demand for high-speed trains and luxury “rail cruises” continues to increase around the world. Infrastructure investmentA rendering of Dream of the Desert, which will be the first luxury train in the Middle Eastern kingdom.
Persons: Paolo Barletta, ” Barletta, S.P.A, Joe Biden, Dolce, , Luigi Corradi, King, Khalid al, Falih, Arsenale S.P.A, Bashar bin Khaled Al Malik, Al Malik, CNN’s Lilit Marcus, Ben Jones Organizations: CNN, State, Saudi Arabia Railways, Saudi, Arsenale Group, SAR, Saudi Arabia Railways Saudi, Reuters, “ Orient, Accor, Ferrovie dello Stato, Speed Railway, King Abdulaziz International, Saudi Arabia’s Investment, Projects, Saudi Railway Company, Orient Express, Orient Locations: Saudi Arabia, Saudi, Arabia’s, Riyadh, Qurayyat, Jordan, Hail, Italy, France, Italy’s, Mecca, Medina, Jeddah, Venice, London, Kyushu
Will My Next Trip Be by Train Instead of Plane?
  + stars: | 2024-01-18 | by ( Paige Mcclanahan | ) www.nytimes.com   time to read: +1 min
Train lovers and travelers concerned about their carbon footprint have a lot to choose from this year — especially in Europe. While some European governments are mulling short-haul flight bans, many passengers are already opting for rail, where new connections are numerous. Nightjet, part of the Austrian federal railway, ÖBB, started running a sleeper train between Berlin and Paris in December, while the French rail operator, S.N.C.F., started overnight service between Paris and Aurillac, in south-central France, the same month. And the Italian rail operator Trenitalia has recently started running a weekly high-speed connection between Rome and the station serving the Pompeii archaeological park. Other new European connections include a sleeper service between Brussels and Prague, coming in late March, and an overnight train between Brussels and Bratislava, Slovakia, expected late this year or early next.
Persons: Trenitalia Organizations: Orient, Accor Locations: Europe, Austrian, ÖBB, Berlin, Paris, Aurillac, France, Vienna, Nice, Rome, Brussels, Prague, Bratislava, Slovakia, Barcelona, Madrid, Milan, Ljubljana, Slovenia, Italy, Palermo, Portofino, Siena
Arms Race: What Travelers Can Expect in 2024 At the start of what promises to be a very busy year, we look ahead at what you’re likely to encounter. With 2023 in the rearview mirror, we look ahead at what travelers will face in 2024. At United Airlines, for example, smarter software can offer rebooking options and issue food and lodging vouchers when a flight is canceled, rather than just rebooking a flight. United Airlines has suspended its flights indefinitely, said Josh Freed, a United spokesman. This year, travelers are expected to choose faraway places and board small ships, according to Virtuoso, the consortium of luxury travel agencies.
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The most exciting new trains coming in 2024
  + stars: | 2024-01-04 | by ( Ben Jones | ) edition.cnn.com   time to read: +13 min
CNN —Around the world, travelers are flocking back to trains, and demand is increasing across the board for high-speed trains, luxury “land cruises” and long-distance day and night trains. Here are some of the best new trains you’ll be able to take in 2024. Laurie Dieffembacq/Belga/AFP/Getty ImagesLinks between two of Europe’s most visited capitals have traditionally been pretty poor, with no direct trains since the 1990s. Ian Clarke/Alamy Stock PhotoFour continents, 13 countries, and seven luxury trains across 80 days – the ultimate experience for rail travel connoisseurs is due to depart in late 2024. BelmondOne of the world’s greatest luxury train journeys is returning to the rails in 2024 after a four-year gap.
Persons: Laurie Dieffembacq, Dimorestudio, Vita ”, Riva Aquarama, itineraries, Jeroen Berends, Gabriel Bouys, it’s, Jesus Hellin, That’s, Trenitalia, Luigi Ferraris, France –, Railbookers, Ian Clarke, we’ve, , Frank Marini, Alex Halada, There’s Organizations: CNN, Orient, Getty, ÖBB, Austrian Federal Railways, SNCF, Eurostar, National, Europa Press, French, Renfe, FS, Rocky Mountaineer, Royal, Orient Express, Oriental, , Oriental Express, Austrian Railways, Swiss Locations: Swiss, Venice, Paris, Berlin, AFP, Strasbourg, Frankfurt, Italy, Rome, Matera, Palermo, Sicily, Messina, Europe’s, Istanbul, Split, Brussels, Prague, Europe, Dutch, Dresden, Belgian, Roman, Naples, Madrid, Spain, France, Spanish, Barcelona, Lyon, Marseille, Canada, Central Europe, India, South Africa, Eastern, Vancouver, Malaysia, Singapore, Malaysia’s, Kuala Lumpur, Langkawi, Penang, Bangkok, Vienna, Innsbruck, Hamburg, Switzerland, Germany, Zürich, Gornergrat Bahn, Zermatt, Gornergrat, Riffelalp
REUTERS/Sarah Meyssonnier/File Photo Acquire Licensing RightsOct 26 (Reuters) - Europe's biggest hotel group Accor on Thursday raised its core profit target for 2023 for the second time this year, citing positive business momentum in all of its markets after another strong post-pandemic summer. The sector continues to benefit from the leisure travel boom despite inflation and the resurgence of recession fears in Europe. It was also boosted by the Rugby World Cup, particularly in cities where hotel supply is more limited, such as Lille and Nantes, Accor said. The group now expects core earnings (EBITDA) of between 955 million euros and 985 million euros for 2023, up from a previous forecast of between 930 million euros and 970 million euros, which was already upgraded in July. It also raised its forecast for growth in RevPAR in 2023 and now expects it to slightly exceed 20%.
Persons: Sarah Meyssonnier, Novotel, Accor, Martine Gerow, Diana Mandiá, Susan Fenton, David Holmes, Sharon Singleton Organizations: REUTERS, Rugby, Lille, Thomson Locations: Issy, Paris, France, Europe, That's, Nantes, Jerusalem, Tel Aviv, RevPAR
Analysts point to receding recession concerns and the prospect of a less aggressive policy stance from the U.S. Federal Reserve as factors fuelling hopes for a broader market rally. The second quarter earnings season has started positively for cyclical sectors, with over a quarter of the global companies announcing their results so far, Refinitiv Eikon data showed. "The upcoming earnings season has the potential to broaden the rally for sure. However, there are plenty of laggards especially in cyclical sectors such as financials and consumer discretionary, which are available at attractive valuations, analysts say. Over the past month, the communication services, mining and financial sectors have all posted about 5% gains, outpacing the tech sector's modest 2% rise.
Persons: Puneet Singh, Singh, Alastair Pinder, Derek Izuel, Patturaja Murugaboopathy, Noel Randewich, Vidya Ranganathan, Alison Williams Organizations: U.S . Federal Reserve, Reuters, Societe Generale, Carnival Corp, Equity, Nasdaq, Intelligence, Royce, Reuters Graphics Reuters, HSBC Research, Shelton Capital Management, Thomson Locations: U.S, Singapore, Asia, Europe, California
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