Trump Entertainment Resorts, Inc. said it has successfully emerged from a Chapter 11 reorganization process. Upon emergence today, Trump Entertainment said it has significant new financial strength and resources, as well as a shared vision for stability and growth under a new ownership structure.
Europe travel is back, says Globus, reporting that Europe sales are up 60 percent year over year. Vacationing across the Atlantic also has become more affordable, with the company reporting the lowest prices in Europe in recent history. Both Globus and Cosmos are offering agents the chance to book 2011 Europe vacations at 2010 prices.
With all the news about companies merging, this news is a little unusual: Reuters is reporting that international hotel group Accor shareholders have cleared the French company’s plan to split into separately listed hotel and service voucher businesses to boost growth and expand abroad.
There have been several reports of recovery in the travel industry this year. Some are from tour operators like Altour or major consortia such as American Express.
Irish low-budget airline Ryanair Holdings PLC said it will cut its U.K. winter flight capacity by 16 percent because of the U.K.’s “tourist tax,” but won’t cut winter flights at Edinburgh and Leeds-Bradford airports.
Vail Resorts reported that its net income increased by 18.1 percent for the third quarter due to an increase in skier visits during the spring. Total skier visitation improved by 4.6 percent for the third quarter as compared to the same period in the prior year. Lift ticket revenue increased 7 percent, with similar percentage increases in both lift revenue excluding season passes and season pass revenue.