 |
||
|
The Travel Career Connexxions Opportunities Newsletter
10/26/04 The only weekly newsletter detailing essential trends, news and top executive moves in travel. Opportunities is a free newsletter that provides you with the vision to "see" travel industry opportunities in the making. Whether you are in sales, business development, guiding your company's growth or managing your career, reading opportunities will give you the advantage to succeed. Opportunities is another innovative tool brought to you by Travel Career Connexxions. For more information, visit http://www.TravelExecutive.com This week in Opportunities:
AmEx Global Business Travel Survey Sees Revival To ensure that you always receive this newsletter and other communications from Travel Career Connexxions, please add our address to your Address Book (newsletter@travelexecutive.com). This will keep most email filters from misinterpreting and discarding these emails. Did you know? As of 10/26/04 there are 113 executive-level travel jobs published in the Travel Career Connexxions employment report. Positions include VP Sales and Marketing (10/19), VP of Finance (10/19), Director of Information Technology (10/20), Director of Marketing Communications (10/26), Vice President of Sales (10/11), CEO, Chief Marketing Officer and more. It only takes one person to fill the job of a lifetime - and that someone could be you! http://www.TravelExecutive.com
OPPORTUNITIES NEWS & TRENDS American Express Global Business Travel Survey Sees Revival Business travel is back big time, echoing the revival in the travel industry overall. The American Express Global Business Travel Forecast for 2005 indicates a continued steady growth in the global business travel industry. Although the pace varies significantly by region and country, published air and hotel prices are expected to rise incrementally next year as business travel demand recovers, outpacing the growth of supply in several markets. At the same time, increased competition-- particularly in the airline sector in several regional markets--is likely to dampen any significant increases in business travel costs. For 2005, American Express forecasts that global economy/short-haul fares will rise by 0-3 percent, while international business fares will increase by 2-5 percent. On the hotel side, room rates for both mid-range and upper-range properties will increase by 1-3 percent. "Economic recovery is fueling business travel demand around the world, with particularly strong demand between Europe and North America, South America, and across the Pacific," said Matthew Davis, director-global consulting services at American Express. "An industry-wide rebound has been dampened only by slim margins for the major North American airline carriers. While rising passenger traffic and hotel occupancies help contribute to a healthier travel industry, forecasted price increases mean that travel managers must vigilantly maintain an effective travel management program." Royal Caribbean Reports Strong Third Quarter Like competitor Carnival Corp., Royal Caribbean Cruises Ltd. (RCCL) is reporting some heady numbers this year, even with the effects of one of the worst hurricane seasons in recent memory. The company's net income for the third quarter of 2004 was $282.5 million, compared to $191.9 million for the third quarter of 2003. Revenues for the third quarter of 2004 increased 23.7 percent to $1.4 billion from revenues of $1.1 billion in the third quarter of 2003. The increase in revenues was attributable to a 10.8 percent increase in capacity coupled with an increase in cruise ticket prices and onboard revenues. Occupancy reached 109.0 percent, up from 107.7 percent in the third quarter of 2003, which approaches levels achieved in 2000 of 109.7 percent. RCCL also reported that advanced booking volumes continue to be encouraging. Both pricing and load factors for the fourth quarter of 2004 are ahead of the same time last year. Accordingly, the company forecasts that net yields for the fourth quarter of 2004 will increase in the range of 4 to 5 percent compared to the same period last year. As a result, the company expects net yields for the full year 2004 to increase approximately 9 percent from the prior year. So the cruise business might just be the place to be career-wise for the near future. Hotel Business Sees Surge in Third Quarter The hotels segment is still very strong. Smith Travel Research last week unveiled third quarter 2004 results for the U.S. lodging industry that showed industry occupancy rose to 67.1 percent in the three months ending September 2004, up 2.6 percent versus third quarter 2003. Third quarter average room rate increased 3.6 percent to $86.32 and revenue per available room (revPAR)--the combination of occupancy and average room rate and a key industry productivity measure--grew 6.4 percent to $57.96. In the first nine months of 2004, industry occupancy gained 3.6 percent to 62.7 percent versus the same period last year. Average room rate rose 3.7 percent to $86.41 and revPAR was up 7.5 percent to $54.20. Room revenue increased 8.7 percent in the first nine months of 2004 to $66 billion. In the month of September 2004, occupancy gained 7.1 percent to 63.3 percent, while room rate improved 3.8 percent to $85.52. "Third quarter industry performance, particularly the month of September, was strong", said Mark Lomanno, President of Smith Travel Research. "October is also shaping up to be a good month. If current trends hold, we anticipate full year 2004 industry revPAR growth could be over 6 percent." Smith's numbers were reflected in the third quarter results of two major hotel companies. Cendant reported record third-quarter numbers, while Starwood saw its profits more than double. Casino Resorts See Major Growth as Boom Continues While airlines clearly aren't on the growth track (save for the low-cost variety), casino resorts seem to be the place to be career-wise, if the latest quarterly results are any indication. Caesars Entertainment, Inc. For the third quarter of 2004, Caesars Entertainment reported net income of $58 million, up 21 percent from net income of $48 million, recorded in the third quarter of 2003. Adjusted net income for the third quarter of 2004 was $68 million, an increase of 51 percent from adjusted net income of $45 million, reported in the third quarter of 2003. Earlier this year the company accepted an offer from Harrah's Entertainment to acquire Caesars for approximately $1.8 billion in cash and 66.3 million shares of Harrah's common stock. Meanwhile, Harrah's Entertainment, Inc. reported record third-quarter revenues of $1.31 billion, up 25.5 percent from revenues of $1.04 billion in the 2003 third quarter. Third-quarter 2004 income from operations rose 26.9 percent to a record $257.8 million from $203.2 million in the year-earlier quarter. Third-quarter 2004 net income was a record $118.8 million, up 19.4 percent from $99.5 million in the 2003 third quarter. Elsewhere, MGM Mirage reported adjusted earnings from continuing operations per diluted share rose 68 percent, representing the company's best third quarter performance in its history and continuing a strong trend of year-over-year increases in earnings during 2004. The company generated net revenues of $1.04 billion, up 6 percent over 2003. Casino revenue increased 5 percent in the 2004 quarter, while non-casino revenue was up 7 percent in the quarter. Indeed, even the smaller casino companies are doing well. Hard Rock Hotel, Inc., which owns and operates the Hard Rock Hotel & Casino in Las Vegas, reported third quarter net revenues increased $2.4 million, or 6 percent, to a third quarter company record of $39.6 million, compared to $37.2 million in the year-earlier three-month period. The company also announced a third quarter record quarterly Adjusted EBITDA of $10.5 million compared to $9.8 million in the comparable prior year period, a $0.7 million, or 7 percent, increase. Net income increased $1.5 million to $3.4 million compared to $1.9 million in the 3rd quarter of 2003. Four Seasons Set to Return to Seattle Market A group of Seattle investors announced plans to develop the new Four Seasons Hotel Seattle, a luxury 21-story hotel and condo tower in the heart of downtown. The development marks the return of Four Seasons, the world's most honored luxury hotel company, to the Seattle market. Seattle Hotel Group LLC, a new private company, will develop the hotel-condo complex. Located at First and Union downtown, the 310,000-square-foot mixed-use development will feature 150 guestrooms and 50 condominium suites. Each guestroom will have its own fireplace, a first in the city. Four Seasons will provide a wide range of services to the development's luxury condominiums. Four Seasons Hotel Seattle will also become a leading social catering venue, with extensive meeting and function space, and a more than 5,000-square-foot ballroom with unique water views. The hotel will also feature an exclusive two-level urban spa and fitness center, a lap pool, a restaurant and lounge. Four Seasons took over the management agreement of its original Seattle hotel, The Olympic Hotel, in 1982. It was the ninth hotel for Four Seasons in the United States. Last year, the Olympic was sold to another hotel group. Since then, Oppenheimer, Schell and Alberg have led a group of local investors determined to bring Four Seasons back to Seattle. Mohegan Tribal Gaming Signs Casino Deal in Wisconsin There's even more opportunity in Native American gaming, as existing tribal groups expand operations. The Mohegan Tribal Gaming Authority, operator of Mohegan Sun, has entered into a management agreement with the Menominee Indian Tribe of Wisconsin and the Menominee Kenosha Gaming Authority. According to the Management Agreement, the Authority was granted the exclusive right and obligation to manage, operate and maintain a planned casino and destination resort to be located in Kenosha, Wis., for a period of seven years in consideration of a management fee. The agreement is subject to approval by the National Indian Gaming Commission. The Mohegan Tribe of Indians of Connecticut previously entered into an agreement with the developer for the project, under which the Mohegan Tribe will lend the Developer funds necessary to develop the Project, including administering and overseeing the planning, design, development, and construction of the Project. The Mohegan Tribe has lent approximately $3.1 million to the Developer for use in these efforts. Two Hotel Mergers May Signal Executive Changes Ahead Changes may be afoot at two regional hotel companies, if announced deals are consummated. Boca Resorts, Inc., an owner and operator of luxury resorts in Florida controlled by investor H. Wayne Huizenga, signed a definitive merger agreement to be acquired by an affiliate of The Blackstone Group for $24 per share. The total value of the transaction, including debt, is approximately $1.25 billion. The company's resorts include the Boca Raton Resort & Club (Boca Raton), the Registry Resort at Pelican Bay (Naples), the Edgewater Beach Hotel (Naples), the Hyatt Regency Pier 66 Hotel and Marina (Fort Lauderdale) and the Radisson Bahia Mar Resort and Yachting Center (Fort Lauderdale). The company also owns and operates two golf clubs located in Florida (Grande Oaks Golf Club in Fort Lauderdale and Naples Grande Golf Club in Naples) that serve as additional amenities to its resorts, as well as components of its exclusive social club, known as the Premier Club. In addition, the Company owns and operates two golf courses in Boca Raton that are part of the Boca Raton Resort & Club. Separately, Barcelo Crestline Corporation, parent company of Crestline Hotels & Resorts, Inc. and a leading hotel management and leasing company, has submitted a proposal to acquire all shares of class A common stock of John Q. Hammons Hotels, Inc. for $13 in cash per share. Barcelo Crestline also announced that it has entered into an agreement with majority shareholder, John Q. Hammons, in which Hammons agreed to support the proposed acquisition. Network with Top Tour Operators at USTOA Conference Many believe the U.S. Tour Operator Association's Annual Conference is one of the best networking events in the industry. With top tour operators and destination officials attending, the conference usually lives up to its reputation. So if you can find a way to get in, you will find yourself networking with some of the industry's elite--and tour operators know everyone, from airline executives to tourism officials to hoteliers to travel agents. This year the event is being held Dec. 6-8, 2004, at the Westin Diplomat in Hollywood, Fla. It is open only to delegates from Associate and Allied member companies of USTOA. All activities, both social and professional, are planned to give Associate and Allied Members plenty of opportunities to meet with some of America's most respected and renowned tour operators. Registration for Associate and Allied Members is $650 per person before Nov. 5 and $750 per person starting Nov. 8. The registration fee includes: conference materials, buying and selling marketplace, three receptions, three luncheons, gala dinner. The scheduled keynote speaker is King Abdullah II of Jordan. The USTOA Marketplace, which will be held the afternoon of Dec. 7 and all day Dec. 8, provides a unique forum for the Associate and Allied Members to meet with top executives of USTOA's Active Tour Operator Members on a one-to-one, buy-and-sell basis. For more information, call 212-599-6599, ext. 24, fax 212-599-6744, e-mail conference@ustoa.com, or visit www.ustoa.com. OPPORTUNITIES EXECUTIVE MOVERS! AIRLINES: Delta Air Lines announced that Loren Neuenschwander will lead the carrier's international operations in Europe. A 14-year veteran of the company, Neuenschwander will be stationed in Delta's London office and will oversee the carrier's operations, sales and customer service efforts in the United Kingdom, Europe, Africa, the Middle East and India. Neuenschwander's appointment is part of Delta's new strategic plan. He returns to the Atlantic region, where he served from 1999-2000 as director-Atlantic Region Finance. He also was responsible for forging the successful three-way partnership with Continental and Northwest Airlines. Neuenschwander is replacing Carolyn Ezzell, who is moving to Atlanta as vice president-Airport Customer Service-East...Continental Airlines said Michael Campbell will retire at the end of this year from his position as senior vice president-human resources and labor relations. Campbell will be re-joining the Atlanta-based law firm he co-founded in 1978, Ford & Harrison, LLP, a national law firm specializing in labor and employment issues. Prior to joining Continental, Campbell represented Continental as a partner in this firm, and he has agreed to continue to represent Continental in its labor negotiations at least through 2005. In that capacity, Campbell will report directly to Jeff Smisek, who becomes Continental's president at the end of this year, as previously announced. Campbell, 55, is retiring after an eight-year career with Continental during which the company, working together with its employees and unions, established a positive labor relations climate, improved productivity, and achieved better wages, benefits and training for all employees. Continental also announced that Michael Bonds will succeed Campbell. Bonds, 42, is currently vice president-human resources under Campbell, a position he has held for almost two years. He joined Continental in 1995 and has held various positions, including vice president and controller and vice president-corporate development...Low-fare airline Independence Air and parent company FLYi, Inc. appointed Denise Womble to the post of vice president-sales and reservations. Womble has been with the company since July of this year as vice president-reservations. She now adds responsibility and oversight of Independence Air's sales team, with an emphasis on continuing to strengthen the airline's outreach to the corporate, agency, association and leisure markets, as well as sponsorships and promotions designed to help Independence Air grow by gaining additional exposure and market share. Womble previously spent six years at US Airways as director-sales and customer support, where she was responsible for the airline's Executive Support Customer Care Center, including agency and corporate inside sales as well as group and meeting sales. She also spent 11 years at Sabre/American Airlines in several positions, including management of customer care centers and help desks...Christian Gall, who has over 15 years of corporate travel and international business experience, has been named as the new executive director-global markets at AirPlus International. Gall will lead all global marketing activities for AirPlus, succeeding Claudia Thiele. Gall has proven knowledge of the business travel sector, having worked for Carlson Wagonlit Travel as vice president-technology solutions. His responsibilities at Carlson Wagonlit included increasing productivity and services, reorganizing Travel & Expense management processes in Europe, Africa and the Middle East and implementing products in multinational groups worldwide. AirPlus International is the European market leader in corporate travel payment systems and management information reporting solutions. CRUISES: Costa Cruise Lines announced the retirement of Dino Schibuola at the end of this year. Schibuola has been with Costa in various executive positions for 25 years. For the last 11 years, as chairman and CEO of Costa Cruises in North America, Schibuola has directed Costa's marketing and sales activities in North and Central America, and since 2003, Schibuola also directed Costa operations in South America. Schibuola will retain his non-executive Chairman position until January 31, 2005 in order to assure a smooth transition. Lynn Torrent will assume responsibility for Costa Cruises North and Central America on December 1, 2004 as president and CEO of Costa Cruise Lines. Torrent comes to Costa from Carnival Corporation & plc, where she has reported to the vice chairman for three years as vice president-marketing services. She previously served as an operating executive in another cruise company, and prior to that, was a CFO of a New York Stock Exchange company and has public accounting experience...Tom Wolber, vice president for Disney-MGM Studios, has been promoted to senior vice president-operations for Disney Cruise Line (DCL). He will report directly to DCL President Tom McAlpin. Wolber's responsibilities will include shipboard operations, purchasing, logistics, entertainment, youth activities, operations integration, shoreside travel operations and marine and technical operations. Wolber is a Walt Disney Parks & Resorts veteran who served as DCL's owner's representative during the Disney Wonder's construction at Fincantieri. He began his Disney career as a member of the Disneyland Resort Paris opening team. After five years in a variety of leadership roles at Disneyland Resort Paris, he moved on to oversee the operations team at Disney Vacation Club. Most recently, he served as vice president at the Disney-MGM Studios where he led day-to-day operations of the theme park. HOTELS & RESORTS: Cendant Corporation announced that its chief financial officer, Ronald Nelson, has been appointed as president of the company. Nelson will continue to serve as Cendant's chief financial officer and report Chairman and CEO Henry Silverman, who previously held the title of president as well. Prior to joining Cendant in April 2003, Nelson, 52, was co-chief operating officer at DreamWorks and played a pivotal role in the launch and development of that enterprise. He previously served as executive vice president, chief financial officer and director at Paramount Communications, Inc., formerly Gulf & Western Industries, Inc. Cendant also announced that it has named Linda Coughlin as the company's chief administrative officer, reporting to Nelson. Coughlin will assume Nelson's former responsibilities for key matrixed functions that interface with and support the company's brands and business units, such as Information Technology, Preferred Alliance Group, Customer Service Centers and Human Resources. She joins Cendant from Linkage, Inc., a leadership and organization development firm, where she was president. She previously held senior positions at Zurich Scudder Investments, Scudder, Stevens & Clark, Citibank and American Express Company. Most notably, while serving in positions of increasing responsibility at Scudder, Stevens & Clark from 1986 to 1997, she launched the American Association of Retired Persons (AARP) Investment Program and was appointed as chairman of the board of this mutual funds family in 1991...Philip Satre will retire as chairman of Harrah's Entertainment, Inc., effective Jan. 1, 2005. Gary Loveman will succeed Satre as chairman, while retaining his positions as president and chief executive officer. Satre's retirement is a planned transition, with the change coinciding with the expiration of his two-year contract as chairman of the board. Satre joined Harrah's in 1980 as vice president, general counsel and secretary. He was named president and CEO of Harrah's Gaming Group in 1984, and joined the company's board of directors in 1988. He was named CEO of Harrah's Entertainment in 1994, and elected chairman in 1997. Loveman joined Harrah's as chief operating officer in 1998, and was named the company's president shortly thereafter. During his tenure as COO, Loveman spearheaded the creation of the Total Rewards program, the first nationwide, multi-property customer loyalty program in the gaming industry. He was promoted to chief executive officer on Jan. 1, 2003... Dorothy Dowling has been named to the post of senior vice president-marketing at Best Western International. Dowling's diverse career in the hospitality and tourism industry spans 20 years. She has served in a variety of senior level positions in both the private and public sectors. Dowling began her hospitality career as a professor at Georgian College of Applied Arts & Technology in Ontario, Canada, at the School of Tourism & Hospitality. She joins Best Western most recently from Philadelphia-based ARAMARK Corporation, a world leader in food management services. From 2002 to 2004, she held vice president positions with three of ARAMARK'S divisions including Parks & Attractions, Sports and Entertainment and Convention and Tourism. Prior to that, she worked for Cendant Corporation from 1996 to 1999 as vice president of marketing. From 1999 to 2002, she served in senior level positions including president and chief operating officer of Travelodge Canada and executive vice president of sales and marketing for Royal Host REIT. Dowling has also worked for several Canadian companies, including Forte Hotels, Relax Hotels & Resorts, Drake International and Laventhol & Horwath Management Consultants. In her role as senior vice president of marketing at Best Western, Dowling will lead the Field Marketing, Frequency Marketing, Consumer Marketing, Advertising/Creative Services and Electronic Marketing departments...Century Casinos, Inc. announced that Bob Peyton has been selected as the new general manager for Womacks Casino and Hotel. Peyton's responsibilities will include the day-to-day management of the Casino, 21 hotel rooms and two restaurants. In this capacity he is responsible for all aspects of management for casino and hotel operations. Peyton comes to Womacks with over 25 years of gaming experience ranging from Atlantic City, Las Vegas, Mississippi and South Carolina. Previously he was employed as general manager for SunCruz Casinos in South Carolina, general manager for Lady Luck Casino in Biloxi, Mississippi and assistant general manager for Treasure Bay Casino Resort in Biloxi. Peyton has also held the positions of casino manager for Bally's Las Vegas and director of Casino Operations at Vegas World in Las Vegas. Century Casinos is an international casino company that owns and operates Womacks Casino and Hotel in Cripple Creek, Colorado; owns and operates The Caledon Hotel, Spa & Casino near Cape Town, South Africa; operates the casinos aboard the ultra-luxury vessels of Silversea Cruises, The World of ResidenSea, and Oceania Cruises; and owns 50 percent of, and provides technical casino services to the Casino Millennium in the Marriott Hotel in Prague, Czech Republic...Red Carnation Hotels, the collection of nine luxury boutique properties in the U.K., Switzerland, South Africa, and Palm Beach, Fla., recently brought on board Kim Severini of KDS Consulting, who will serve in the role of Red Carnation's vice president for sales and strategic marketing-North America. Severini will focus on building relationships with the primary travel consortia, with new marketing efforts focusing on retail travel agent messages and campaigns in such key consumer markets as Los Angeles and New York. DESTINATIONS: The Puerto Rico Tourism Co. (PRTC) named Milton Segarra interim executive director, replacing Jose Suarez, who resigned to pursue other interests. Currently head of the Puerto Rico Convention Authority, Segarra held the PRTC post several years ago. Because Puerto Rico's upcoming elections will shift many positions, a permanent PRTC executive director will be named later this year...David Fernandez, U.S. director of tourism for Antigua and Barbuda, will retire this month after 34 years of service. Fernandez, who is one of the longest serving tourism directors in the Caribbean, joined the government of Antigua and Barbuda in 1971 as a sales representative and was named to his present post in 1982. His duties include strategic marketing, planning, advertising and promotional activities. He has worked closely with travel agents throughout his tenure and attributed much of the destination's tourism success to the support received from travel agents. Fernandez will remain in the U.S. where he plans to open a consulting firm.
Looking for more? Do you see Opportunities? Tell us! Please send all travel news and top executive changes to opportunities@travelcareerconnexxions.com. |
|
|
||
About Us Privacy Policy Terms & Conditions Contact Us© 2003 The Weekly Executive Employment Report is a publication of Travel Career Connexxions, Inc.