Hilton has shared two new European deals as part of its expansion of its international distribution network.
The new partners include French online distributor GoVoyages.com and German online distributor hotel.de, making Hilton a preferred hotel provider, stated Hilton.
Sharing its 2005 financial results, Accor has stated that consolidated revenue rose by 7.9 percent to €7,622 million. At constant scope of consolidation and exchange rates, the increase was 4.7 percent.
Profit before tax and non recurring items rose by 17.6 percent to €603 million. The increase reflected the gradual improvement in margins thanks to a more favorable hotel cycle, and efficient management of holding costs. Net profit, Group share rose by 42.9 percent to €333 million in 2005, stated the company.
Aerovias del Continente Americano (Avianca) –formerly known as Aerovias Nacionales de Colombia S.A.)- has wrapped up its offer to purchase for cash up to $11.7 million in outstanding Fixed Principal Amount, or $14 million in original Fixed Principal Amount of its United States Dollar Denominated Notes due April 30, 2011.
Avianca terminated its Offer for the Notes pursuant to the conditions of the Offer which, among other things, provided that Avianca shall not be required to accept for payment or pay for any tendered Notes and may terminate the Offer if, on or prior to the Expiration Date (3:00 pm New York time, on March 2, 2006).
Discover Financial Services LLC, a business unit of Morgan Stanley (NYSE:MS), and Credomatic International Corporation, a subsidiary of BAC International Bank Inc., have signed an agreement that facilitates the acceptance of Discover Network Cards at more than 65,000 merchant locations in Central America.
Effective today, Credomatic and its affiliates will begin targeting major merchants in tourist destinations to offer the Discover Network merchant acceptance program. At a later date, the offer of Discover Network Card acceptance will be extended to the company´s entire merchant portfolio throughout the region.
Hard Rock International today announced its earnings for 2005 as part of a report issued by its parent company, The Rank Group Plc.
Hard Rock´s total revenues for the year were $452.6 million compared to $426.1 million in 2004, a growth of 6.2 percent. Operating profit increased 23.0 percent to $63.0 million in 2005 compared to $51.2 million in 2004. Hard Rock´s hotel and gaming interests and continued improvement at company-owned cafes drove overall performance.
The signing of China-US aviation agreement to promote bilateral travel and tourism cooperation will increase two-way flights between the two countries by 460 percent.
This follows the agreement signed in December 2004 to open the US to Chinese tourists. Karan Bhatia, U.S. assistant secretary for aviation and international affairs, said, the agreement was to bring air services to the level of growing demand stemming from rapidly expanding trade and tourism between the two countries.