| Wish you were here? Is the travel industry 'recession proof'
The package tour industry is in surprisingly bullish spirits despite the weakening of consumer spending across Europe. The big travel operators believe they can ride out the credit crunch unscathed, as customers will still refuse to give up their holidays abroad. Some market experts are not so sure, predicting a period of pain in a year's time should the economic problems continue to spiral. This week the two largest travel agencies to the UK market, TUI Travel and Thomas Cook, have reported solid results for the past six months and predicted more to come with summer sales looking rosy. Despite much of the population tightening its belt as the economy worsens, holidays remain a priority, leading some industry figures to claim the business is "recession proof".
Ctrip 1Q profit jumps on higher air travel sales
Chinese travel Web site operator Ctrip.com International Ltd. said Wednesday its first-quarter profit jumped on higher airline ticket sales. Net income rose 52 percent to 98.8 million RMB ($14.1 million), or 1.43 RMB per share (20 cents per share) from 64.9 million RMB or 0.96 RMB per share. .
Gas Prices Not Likely To Affect Travel Plans of Most American Travelers
Six of ten (59%) Americans who are currently planning a trip with their car, truck or SUV this summer will not change their travel plans even with additional increases in the price of gas, according to the closely watched travelhorizons™ survey co-authored by the Travel Industry Association (TIA) and Ypartnership. One of six (16%) of those expecting a tax rebate as part of the economic stimulus package approved by Congress is planning to spend their rebate on an overnight or day trip for leisure purposes, according to the same nationally representative survey of 2,233 adults conducted during the month of April. “The data confirm, once again, that vacations are a non-negotiable part of contemporary life, even in challenging economic times," said Peter Yesawich, Ypartnership's Chairman and Chief Executive Officer.
Cebu Pacific Air Offers Free Fares For Local, Intl Travel
Philippines carrier Cebu Pacific Air(CEB) is offering more than 500,000 domestic and international seats for free for travel from June 9 to December 31 this year. Candice Iyog, CEB vice-president for marketing and product, said passengers will only pay the taxes and fuel and insurance surcharges, which are non-refundable. .
Travel and tourism open house planned Tuesday in parish
The Iberia Parish Conven-tion and Visitors Bureau will host a travel and tourism open house from 10 a.m. to 5 p.m. Tuesday in conjunction with the 25th annual National Tourism Week.The Bureau said the event will include door prizes, refreshments and free travel information for Iberia Parish and the state.The open house will also feature an exhibit on Iberia Parish attractions and an art exhibit by L'Acadian Art Guild. .
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