Hoping to attract more recession-wary Americans, Mexico in June will begin reimbursing the value-added tax (VAT) charged on purchases made at stores and businesses throughout the country to tourists who arrive by air and cruise ship.
Global hotel investment, which hit a record high in 2007, dropped more than 60 percent in the first quarter of 2008 as credit markets tightened, according to the latest numbers from Jones Lang LaSalle Hotels.
Four new casinos are opening in Puerto Rico and requests for another two are pending. Tourism officials say one casino is expected to open in 2009 in San Juan’s newly renovated La Concha hotel. The others will open in Guayanilla, Cabo Rojo and Aguadilla, a western coastal town popular with surfers.
The global spa economy is estimated to be over $250 billion, according to a major report unveiled this week at the 2008 Global Spa Summit in New York. Prepared by SRI International on behalf of The Global Spa Summit, the first Global Spa Economy Report represents the most comprehensive effort yet to quantify the rapidly expanding global spa industry.
An increase in gross travel bookings helped Priceline sprint past earnings estimates as the company posted net income of $18.2 million for the first quarter of 2008.
Revenue for U.S. casinos has increased 73 percent over the past 10 years, according to a new report released by the American Gaming Association (AGA), a trade group representing the U.S. casino industry.