Carnival Corp. & plc announced Aug. 13 that members of the Arison family and certain related entities, including trusts organized by members of the Arison family, plan to sell up to 8.5 million shares of Carnival Corp. common stock representing up to approximately 1 percent of the total combined voting rights.
Hyatt Hotels Corporation has filed a registration statement with the U.S. Securities and Exchange Commission relating to a proposed initial public offering of shares of its Class A common stock. The number of shares to be offered and the price range for the offering have not yet been determined.
Air France reported a significant drop in cargo business, a sharp decline in passenger unit revenues and a negative effect of fuel hedges on operating result for the first quarter. However it said that cost reduction had limited the impact of the decline in revenues and it had strong liquidity with 5.7 billion euros.
Wynn Resorts Ltd. reported that second-quarter profits fell almost 91 percent in the second quarter to $25.5 million, or 21 cents per share, from $272 million, or $2.42 per share during the same period last year. Net revenues were $723.3 million, compared to $825.2 million last year.
Expedia reported a sharp drop in its second-quarter profits, but still did better than expected; gross bookings were down, but hotel room nights and air transactions were up. Management said the results showed that Expedia has a business model that works no matter what the business environment is. The company earned $40.9 million in the second quarter, down 57 percent from $96.1 million for the same period a year earlier.
Expedia reported a sharp drop in its second-quarter profits, but still did better than expected; gross bookings were down, but hotel room nights and air transactions were up. Management said the results showed that Expedia has a business model that works no matter what the business environment is. The company earned $40.9 million in the second quarter, down 57 percent from $96.1 million for the same period a year earlier.