Travel Sector

Toll shares fall after a disappointing H1

Toll-LogoToll Holdings Ltd released its first half results today and the share fell down by nearly 18% in today's trading as the company posted a decrease of 32% in its net profit for the first six months of the fiscal.

According to market analysts, Toll had experienced one of the toughest trading environments for the logistics sector in many years. The share prices fell down to the six month low. Toll shares closed at A$7.10 on Thursday after falling as low as A$7.00.

Singapore opens its first casino

Singapore has opened its first ever casino on the auspicious eve of the Chinese lunar year in a bid to diversify its economy. Lim Kok Thay, Chairman of Resorts World Sentosa and its developer, Malaysia's Genting Group said, "We are confident to meet our goal of 13 million visitors (per year)."

The move would turn the city-state into a playground for the rich Asian gamblers that would in turn push its economic growth. Initially selected guests would be allowed in the casino which is a part of S$6.59 billion resort located on Sentosa Island in the southern coast of Singapore.

Hotels feel the burn as Singapore tourism drops by 4.3 per cent

According to the city-state's tourism board, Singapore saw a fall in Tourist arrivals by 4.3 per cent in 2009 to 9.7 million. Hotels were hit hard as visitors stayed away due to the economic

recession and the H1N1 flu outbreak. A strong rebound in the last quarter allowed for a "very credible" performance over the whole year, tourism board chief executive Aw Kah Peng said.

For the month of December, visitor arrivals reached a record 971,000.

However, the board said that tourism receipts over the year were estimated at 12.4 billion Singapore dollars (8.7 billion US dollars), 19 per cent less from a year earlier.

Government plans to Launch National helpline For Tourists

India Tourism

“India will soon launch a helpline for tourists to know more about various destinations and to seek help if they are in distress”, said Minister of State for Tourism Kumari Selja, at an International Buddhist Heritage Conference in Nalanda in Bihar organized with an aim to promote Buddhist circuit in India.

More than 110 eminent monks and scholars, academicians and tour operators are participating in the conference which has delegates from 18 countries. The conference aims to let people experience Buddhism in the land of origin.

Travelport to float itself, raise $1.78 bn

TravelportLooking at the overall investment sentiment getting better, the online travel company, Travelport is planning to float itself on the London exchange. As a result, it expects to rise close to $1.78 billion.

Travelport includes operations like hotel and airline booking under the banner of Galileo. The total value of the company is close to $3.05 to $3.45 billion. This is higher than the earlier calculated value of $3 billion. However, experts believe that the company is overvalued.

Mumbai mono rail undergoes test runs

Chief-Minister-of-Maharashtra-Ashok-ChavanOn Tuesday, the monorail planned for the city of Mumbai underwent trial run on its upcoming network. The Mumbai Metropolitan Region Development Authority (MMRDA) chose the 61st Republic day for the train run in the city.

The Chief Minister of Maharashtra Ashok Chavan, flagged off the rail from Wadala station of the network. The test run was for 108-metre on the Republic Day.

Air Travelers across UK Hurt by Big Freeze

Air Travelers across UK Hurt by Big FreezeThe disturbance and disruption which was caused by Britain's big freeze has ended up costing airport operator BAA 150,000 travelers during December.

BAA, which is the owner of 6 major UK airports including Heathrow and Stansted, has bitterly blamed the unusually cold weather and falling apart of the Scottish airline FlyGlobespan for a decline in passenger numbers last month. 2009 had anyways been a tough year for the group, with the recession pulling back the while airline sector.

Another Airline for U.A.E. skies

Another Airline for U.A.E. skiesGulf's skies are set to be busier as a new Abu Dhabi-based low-cost airline has been planned which would be the third budget airline of Emirates. The move is aimed to tap the huge potential of the low cost segment of the market in tandem with the growth of Gulf's premium airlines.

David J Bentley, Joint Managing Director of Big Pond Aviation added, "The Middle East is still playing 'catch up' with the rest of the world as far as LCCs (Low Cost Carriers) go."

MakeMyTrip Joins Hands With Atom Technologies

MakeMyTrip Joins Hands With Atom TechnologiesWith the intention to provide Travel Booking & ticketing over cell phones, Atom technologies, a major supplier of m-Commerce solutions, has signed up a partnership deal with MakeMyTrip, India's top online travel company.

Atom's mobile application will now facilitate users to hunt, book, pay and even receive their tickets on their cellular phones without paying any extra cost.

Explore Jim Corbett's life and times

 Jim Corbett's The state government will launch an adventure tourism package next week to give the visitors an experience of the life and times of the legendary hunter Jim Corbett.

Corbett Heritage Tourism Package is a move by the tourism department’s initiative to promote eco-tourism in Uttarakhand, State Tourism Minister Madan Kaushik told Hindustan Times on Sunday.

It would become a regular feature on the tourism package offered by the Kumaon Mandal Vikas Nigam for tourists visiting Nainital, the minister said in a conversation over phone from Haridwar.

Malaysia’s tourism minister told not all Indians speak English

Malaysia’s tourism minister told not all Indians speak EnglishKuala Lumpur, Oct. 29 : Malaysia’s Tourism Ministry has been urged to install Tamil signboards and announcements at airports in order to cater to non-English speaking Indians.

The Star quoted Malaysian Indian Congress Youth secretary R. Sivaraj, as saying that the government should ensure hassle-free guidance for Tamil-speaking tourists.

Sivaraj expressed surprise over how could the Tourism Minister Dr Ng Yen Yen presume that most Indian tourists were proficient in English.

Crossing the danger marks

KTDCWhen Jalakanyaka, the Kerala Tourism Development Corporation (KTDC) boat that capsized in Mullaperiyar lake in Thekkady on September 30, was tugged on shore, rescue workers were shocked. They found lifejackets, mandatory for such cruises, dumped in the engine room, most of them still not taken out of their packets.

An embarrassed KTDC chairman Cherian Philip admitted: “Many lives would have been saved (had the life jackets been used).”

Theme for a dream holiday

Travel Travel enthusiasts in India are venturing beyond the obvious to indulge in specialised, theme-based, holidays. To cater to this growing demand, there’re vacations based around fashion weeks, world sporting events, spa therapies and more on offer.

P Srinivas, senior vice president (special interest tours), SOTC says, “We’ve seen a marked shift in sports tourism since 2003.” He adds that travellers have the option of picking from holidays based on cricket world cups, the Olympics, Wimbledon as well as F1 Grand Prix. Even niche sports like soccer have begun to get a huge response.

Railways to cut Tatkal charges from October

Indian RailwaysRailways, on Monday announced a decrease in tatkal charges for respective classes. The new charges will come into effect from October 1. According to the new system, the charges will be on actual distance of the journey, as against the current system of end to end.

The new tatkal charges will be imposed at the rate of 10% of basic fare for second class passengers and 30% of basic fare for all other passengers.

According to the revised charges, second class passengers will have to give between Rs 10 to Rs 15. Likewise, passengers booking a berth in sleeper class will have to pay between Rs 75 to Rs 150.

Cox and Kings files DRHP with SEBI

Cox and KingsCox and Kings (India), one of the oldest and most reputed travel organizations in India operating as a one-stop-shop for all travel related products, has filed its Draft Red Herring Prospectus (DRHP) with the market regulator (SEBI) to enter the capital market.

The company will soon come with its Initial Public Offering (IPO) of 18,496,640 equity shares of Rs 10 each for cash.

India and Singapore sign deal for tourism promotion

India and Singapore sign deal for tourism promotion   India and Singapore will work to promote tourism between the two countries under a joint action plan signed between the Tourism Minister Ms. Selja and the Singapore Minister of Trade, Industry and Education S. Iswaran in New Delhi .

Kumari Selja said, "We have great historical relations with Singapore. We want investors from that country to invest in hotels, local tourism and a number of lucrative areas."

Tourism revenue tumbles 17.9 per cent in Greece

Tourism revenue tumbles 17.9 per cent in GreeceAthens  - Tourism spending in Greece fell by 17.9 per cent for the first five months of the year compared to the same time period in 2008, officials said Wednesday.

The data is a further indication that the global recession is hurting the tourism industry.

According to data by the central bank, tourism spending in May fell by 24 per cent, to 824.2 million euros (1.17 billion dollars), compared with 1.09 billion euros in May 2008.

Drop by 23.6 percent seen in Premium air travel in May

Drop by 23.6 percent seen in Premium air travel in May

May saw a faster drop in global airline passenger travel as compared to the previous months, said a trade group Thursday. The group noted that things don't seem to be getting better in the air crisis scenario.

During the month of May, a fall by 23.6 percent was seen in the number of passengers flying on premium tickets, as compared to the May 2008 figures. The International Air Transport Association says that this follows a 22 percent decline in April.

Mahindra Holidays IPO to open on June 23

Mahindra HolidaysMahindra Holidays & Resorts India Limited, a part of the Mahindra Group of Companies, is entering the capital market with a public issue of 92.65 lakh equity shares of Rs 10 each for cash at a premium to be decided through the 100 per cent book building process.

The issue, which will represent 11% of the post-issue paid up capital, will open on June 23 and close on June 26.

It should be noted that, credit rating agency Fitch Rating India, has already assigned '4' out of '5' grading to company IPO, which reflects 'above average fundamentals' of the issue relative to other listed equity securities.

TCI Q4 net dips 28.43% at Rs 11.20 crore

TCI Q4 net dips 28.43% at Rs 11.20 croreTransport Corporation of India (TCI) has revealed that it has recorded a dip of 28.43% in net profit which stood at Rs 11 crore in the fourth quarter of the fiscal ended March 31, 2009.

The company stated in a communiqué to Bombay Stock Exchange that it has clocked a lower profit at Rs 11 crore compared to net profit of Rs 15 crore in the same quarter ended March 2008.

The company's net sales for quarter under review have witnessed a downward trend to Rs 324 crore from Rs 328 crore in the same period last fiscal.

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