Tuesday, 30 April 2013
Cyprus decides on a bailout thin majority says yes
By Michele Kambas
NICOSIA (Reuters) - Cyprus's parliament decides on Tuesday whether to back a bailout imposed by its EU partners, with approval likely from a thin majority against mounting calls for the island to exit the euro.
Lawmakers were due to meet in an extraordinary session at 4 p.m. (2:00 p.m. British time) to ratify the terms of the aid, which is conditional on Cyprus winding down its second-largest bank and slapping heavy losses on uninsured depositors in another.
No single party has a majority in the 56-member parliament, and the government is counting on support from members of its three party centre-right coalition which have 29 seats in total.
"The situation is extremely difficult," said Finance Minister Harris Georgiades. Without a bailout, Cyprus would face "incomparably tougher difficulties" and a fiscal "nightmare", he told lawmakers on Monday.
Communist AKEL, in government until it lost presidential elections in February, said it planned to vote against. It has 19 seats in parliament. The socialist Edek party, with 5 seats, said it would also reject the bill.
Attempts to agree on a bailout triggered financial chaos on the island last month, when parliament rejected an initial plan to force both insured and uninsured depositors - those holding less than 100,000 euros (84,517 pounds) in savings - to pay a levy to fund the recapitalisation of two banks heavily exposed to debt-crippled Greece.
It was followed by a two-week shutdown of banks. The fallback option was to wind down one of the banks, Laiki, and impose losses of up to 60 percent in uninsured deposits in a second, Bank of Cyprus.
AKEL, which had made the initial application for financial aid in June 2012, said onerous terms offered by Cyprus's EU partners were compelling enough for the island to seek alternative sources of funding.
"Cyprus's only option is a solution outside the loan agreement and the Memorandum of Understanding. Seeking such a solution is possibly tantamount to a decision to exit the euro," it said in a statement.
(Reporting By Michele Kambas; Editing by Robin Pomeroy)
Monday, 29 April 2013
Cyprus Survival
Opinion: What's the magic mix that will help Cyprus pull a rabbit from the hat?
By Noel Josephides
Apr 29, 2013 08:05AM GMT
0 Comments
By Noel Josephides, managing director Sunvil Holidays
Now that the Cypriot banking industry has been dismantled by the European Union the island has very little option but to develop its tourism industry even further.
Is this possible in 2013? Can Cyprus pull another rabbit out of the bag, as it did in 1974 after the Turkish invasion?
In 1974 there was no infrastructure in the south of the island. All the tourist development was in Kyrenia and Famagusta, both resorts now occupied by the Turks.
Paphos was a small provincial town with just the Paphos Beach Hotel and Limassol had only the Amathus Beach.
In Ayia Napa there was nothing other than the Nissi Beach Hotel. So, the south was ripe for development by those who had already honed their developers' skills in the now-occupied areas.
The scale of the development in Cyprus took everyone's breath away, even those of us who were used to the pace of development we had seen in the boom resorts of Famagusta and Kyrenia.
I remember even then how we criticised what was going on, saying that the island was being over-developed.
So, the developers were allowed to set about creating the Cyprus we know now.
There were controls only in theory - the government regarded the building industry as being just as important as the tourism sector.
A few years ago, the building industry was regarded as number two to the banking and offshore sector.
The respected Cypriot surveyors A Loizou have recently stated that there are 252,000 empty shops, apartments, offices and houses in the south of the island.
That is an incredible figure, given that the population is under a million.
To put it bluntly, the price of these units has collapsed and they have to be filled before any more are built. That means, of course, that the building industry has nowhere to go and nothing to build.
Can the tourism industry fill these empty beds, many of which are unlicensed?
In 1974 there could only be growth in Cyprus because there was no real competition from other destinations and very few beds on the island.
In 2013 we face a very different situation; there is now competition from Egypt, Turkey, Tunisia, Croatia and Dubai, resorts which simply did not exist in 1974.
If Cyprus is to generate more revenue from tourism to replace that lost from the banking sector, it needs at least another million tourists a year. That's an increase of 50%.
To increase tourist arrivals by such a percentage will need a drop in prices of 30% to 40% and an approach to a wide variety of markets, including reaching out to a cheaper clientele which Cyprus has never previously sought.
Prices will have to drop anyway because the resident population is being forced to accept salary decreases of 25% to 30%; the economy has been ruined by Brussels.
With reduced salaries will come lower prices in shops, restaurants and hotels because local people will not be able to afford the current very high prices.
Where will the extra million visitors come from?
It is unlikely that they will come from the UK. Over the last 13 years, numbers from the UK have been steadily falling. Other destinations have become fashionable, with modern bed-stock suited to the mass market carried by Tui, Thomas Cook, Jet2 and Cosmos.
But, even more importantly, the market from the UK has been increasingly dominated by budget airlines which have been encouraged to fly to the island by the Cyprus Government and generous handouts. Let me explain.
Last year, when the crisis hit Greece, which is served by the more traditional charter market, the market was kick-started by very low prices through tour operators.
For instance, at this time last year, my own company, Sunvil, was costing Greek packages with a flight price of £80 when the actual cost to us was nearer £250; we had no option but to do this.
We could not hand our charter seats back, so we had to create very cheap packages using our charter flights and committed accommodation.
We have no committed seats to Cyprus because Sunvil now, in common with many other operators, simply puts together packages based on bought-in seats from scheduled and no-frills carriers; even in April and May, you can't buy these seats for less than about £240.
Tour operators have steadily reduced charter capacity to Cyprus because they have been angered by the Cyprus government's support of budget carriers.
Without charter seats it is impossible to force-feed tourists to a destination.
Additionally, there are now no mid-size tour operators left because these have been destroyed by the growth of the no-frills carriers and the increasing dominance of Tui and Thomas Cook.
Both the big two now increasingly operate to properties where they have exclusivity and which are generally all-inclusive.
For the economy of a destination like Cyprus, the all-inclusive model is harmful.
So, can the Russian and Eastern European markets create the extra million annual arrivals?
The Russians have been growing at an enormous rate because their model is still charter-based.
The Russian market is behaving as did the UK market in the golden age of Harry Goodman's Intasun - stack them high and sell them cheap.
Other Eastern European markets like Poland are going the same way.
The million dollar question is whether the Russian market has been spooked by the financial crisis that has befallen the island and which has affected its many Russian residents.
What Cyprus has to do will not be easy.
The island has been set back 50 years and, while its weather and Mediterranean beaches remain perfect for sun-starved northern Europeans, the essential ingredients to achieve marked tourism growth are no longer there.
However, the Cypriots have done it before and I would not be surprised if they pulled the rabbit out of the bag yet again.
It’s a chance for a fresh start and, hopefully, more consideration of the long-term via sustainable tourism.
Cyprus is already working very closely with the CSTI (Cyprus Sustainable Tourism Initiative) and The Travel Foundation and the work done so far could be developed considerably to achieve the impressive savings and long-term benefits inherent in the adoption of sustainable policies.
What about a nice big EU grant to help Cyprus become a shining example of what can be achieved in terms of long-term sustainability? Now there’s an interesting thought.
Share on facebookShare on twitterShare on email
Comments
This is a community-moderated forum.
All post are the individual views of the respective commenter and are not the expressed views of Travel Weekly
By posting your comments you agree to accept our Terms & Conditions
By Noel Josephides
Apr 29, 2013 08:05AM GMT
0 Comments
By Noel Josephides, managing director Sunvil Holidays
Now that the Cypriot banking industry has been dismantled by the European Union the island has very little option but to develop its tourism industry even further.
Is this possible in 2013? Can Cyprus pull another rabbit out of the bag, as it did in 1974 after the Turkish invasion?
In 1974 there was no infrastructure in the south of the island. All the tourist development was in Kyrenia and Famagusta, both resorts now occupied by the Turks.
Paphos was a small provincial town with just the Paphos Beach Hotel and Limassol had only the Amathus Beach.
In Ayia Napa there was nothing other than the Nissi Beach Hotel. So, the south was ripe for development by those who had already honed their developers' skills in the now-occupied areas.
The scale of the development in Cyprus took everyone's breath away, even those of us who were used to the pace of development we had seen in the boom resorts of Famagusta and Kyrenia.
I remember even then how we criticised what was going on, saying that the island was being over-developed.
So, the developers were allowed to set about creating the Cyprus we know now.
There were controls only in theory - the government regarded the building industry as being just as important as the tourism sector.
A few years ago, the building industry was regarded as number two to the banking and offshore sector.
The respected Cypriot surveyors A Loizou have recently stated that there are 252,000 empty shops, apartments, offices and houses in the south of the island.
That is an incredible figure, given that the population is under a million.
To put it bluntly, the price of these units has collapsed and they have to be filled before any more are built. That means, of course, that the building industry has nowhere to go and nothing to build.
Can the tourism industry fill these empty beds, many of which are unlicensed?
In 1974 there could only be growth in Cyprus because there was no real competition from other destinations and very few beds on the island.
In 2013 we face a very different situation; there is now competition from Egypt, Turkey, Tunisia, Croatia and Dubai, resorts which simply did not exist in 1974.
If Cyprus is to generate more revenue from tourism to replace that lost from the banking sector, it needs at least another million tourists a year. That's an increase of 50%.
To increase tourist arrivals by such a percentage will need a drop in prices of 30% to 40% and an approach to a wide variety of markets, including reaching out to a cheaper clientele which Cyprus has never previously sought.
Prices will have to drop anyway because the resident population is being forced to accept salary decreases of 25% to 30%; the economy has been ruined by Brussels.
With reduced salaries will come lower prices in shops, restaurants and hotels because local people will not be able to afford the current very high prices.
Where will the extra million visitors come from?
It is unlikely that they will come from the UK. Over the last 13 years, numbers from the UK have been steadily falling. Other destinations have become fashionable, with modern bed-stock suited to the mass market carried by Tui, Thomas Cook, Jet2 and Cosmos.
But, even more importantly, the market from the UK has been increasingly dominated by budget airlines which have been encouraged to fly to the island by the Cyprus Government and generous handouts. Let me explain.
Last year, when the crisis hit Greece, which is served by the more traditional charter market, the market was kick-started by very low prices through tour operators.
For instance, at this time last year, my own company, Sunvil, was costing Greek packages with a flight price of £80 when the actual cost to us was nearer £250; we had no option but to do this.
We could not hand our charter seats back, so we had to create very cheap packages using our charter flights and committed accommodation.
We have no committed seats to Cyprus because Sunvil now, in common with many other operators, simply puts together packages based on bought-in seats from scheduled and no-frills carriers; even in April and May, you can't buy these seats for less than about £240.
Tour operators have steadily reduced charter capacity to Cyprus because they have been angered by the Cyprus government's support of budget carriers.
Without charter seats it is impossible to force-feed tourists to a destination.
Additionally, there are now no mid-size tour operators left because these have been destroyed by the growth of the no-frills carriers and the increasing dominance of Tui and Thomas Cook.
Both the big two now increasingly operate to properties where they have exclusivity and which are generally all-inclusive.
For the economy of a destination like Cyprus, the all-inclusive model is harmful.
So, can the Russian and Eastern European markets create the extra million annual arrivals?
The Russians have been growing at an enormous rate because their model is still charter-based.
The Russian market is behaving as did the UK market in the golden age of Harry Goodman's Intasun - stack them high and sell them cheap.
Other Eastern European markets like Poland are going the same way.
The million dollar question is whether the Russian market has been spooked by the financial crisis that has befallen the island and which has affected its many Russian residents.
What Cyprus has to do will not be easy.
The island has been set back 50 years and, while its weather and Mediterranean beaches remain perfect for sun-starved northern Europeans, the essential ingredients to achieve marked tourism growth are no longer there.
However, the Cypriots have done it before and I would not be surprised if they pulled the rabbit out of the bag yet again.
It’s a chance for a fresh start and, hopefully, more consideration of the long-term via sustainable tourism.
Cyprus is already working very closely with the CSTI (Cyprus Sustainable Tourism Initiative) and The Travel Foundation and the work done so far could be developed considerably to achieve the impressive savings and long-term benefits inherent in the adoption of sustainable policies.
What about a nice big EU grant to help Cyprus become a shining example of what can be achieved in terms of long-term sustainability? Now there’s an interesting thought.
Share on facebookShare on twitterShare on email
Comments
This is a community-moderated forum.
All post are the individual views of the respective commenter and are not the expressed views of Travel Weekly
By posting your comments you agree to accept our Terms & Conditions
Support Cyprus
Tui pledges to support crisis-hit Cyprus
By Lee Hayhurst
Apr 29, 2013 08:19AM GMT
0 Comments
Cyprus has won continued support from Europe’s largest tour operating group in the wake of its banking crisis.
Senior executives from Tui Travel met Cypriot president Nicos Anastasiades to pledge their backing for the island.
The prospects of recovery for Cypriot tourism and the broader economy, as well as the role tourism can play to spearhead the country’s effort to restart its economy were discussed at the meeting.
Tui Travel deputy chief executive Johan Lundgren said that “tourists need Cyprus and Cyprus needs tourism”.
“Our message is that Tui Travel will continue to support Cyprus in its reform process and we look forward to continuing our investments on the island,” he said.
“Our relationship with Cyprus, which we consider a very important destination, goes back almost 50 years.
“We will need the support and assistance of various stakeholders; the Government, the authorities for tourism and our partners here, to seize the opportunity that we believe exists and ensure we can continue our development plan in Cyprus, but also expand this activity within the European markets.”
The senior management team, with representatives from the group’s mainstream UK and Nordic businesses, were joined at a 200-strong dinner by Cyprus tourism minister George Lakkotrypis, as well as local and international media and wider tourism industry representatives.
By Lee Hayhurst
Apr 29, 2013 08:19AM GMT
0 Comments
Cyprus has won continued support from Europe’s largest tour operating group in the wake of its banking crisis.
Senior executives from Tui Travel met Cypriot president Nicos Anastasiades to pledge their backing for the island.
The prospects of recovery for Cypriot tourism and the broader economy, as well as the role tourism can play to spearhead the country’s effort to restart its economy were discussed at the meeting.
Tui Travel deputy chief executive Johan Lundgren said that “tourists need Cyprus and Cyprus needs tourism”.
“Our message is that Tui Travel will continue to support Cyprus in its reform process and we look forward to continuing our investments on the island,” he said.
“Our relationship with Cyprus, which we consider a very important destination, goes back almost 50 years.
“We will need the support and assistance of various stakeholders; the Government, the authorities for tourism and our partners here, to seize the opportunity that we believe exists and ensure we can continue our development plan in Cyprus, but also expand this activity within the European markets.”
The senior management team, with representatives from the group’s mainstream UK and Nordic businesses, were joined at a 200-strong dinner by Cyprus tourism minister George Lakkotrypis, as well as local and international media and wider tourism industry representatives.
Friday, 19 April 2013
Best time to visit Cyprus
Opinion: Cyprus is safe and prices are lower
Apr 19, 2013 08:15AM GMT
0 Comments
Hotels are functioning, demonstrations are few and far between, and the people are as welcoming as ever, writes Noel Josephides, managing director of Sunvil Holidays
How did you choose the bank where you hold your cash and into which your wages are paid? For many of us, the advice as to which bank to use comes from our parents.
Let’s say your parents banked with Barclays; the chances are, you opened an account with Barclays. Another set of parents might have always banked with HSBC, so the chances are their children would end up banking there.
So when you open an account in a ‘household-name’ bank, do you check its audited accounts? Do you investigate whether it purchased Greek government bonds and ended up having to take a ‘haircut’ on that investment? Do you know what a ‘haircut’ is – in financial terms?
Just imagine you woke up one day to find your bank had frozen 90% of your hard-earned cash savings over £85,000 because it turned out to be under-capitalised (what does under-capitalised mean to the average man or woman?) and needed the cash to stave off bankruptcy.
However, your neighbour, whose cash is in another bank, is not affected at all. How would you feel?
Well, this is exactly what has happened in Cyprus. Suddenly, those banking with the island’s two largest banks are much poorer because the banks have simply taken their money. Others, banking with foreign banks on the island, are not affected at all.
If Barclays and HSBC in the UK had behaved in this way there would have been uproar. In fact, bankers in the UK, Spain, France, Portugal and Greece have made billions of pounds worth of errors, yet no one with cash in those banks has lost a penny.
Do you blame the Cypriots for feeling sore? Why has life picked on them? Will it forever be the destiny of this small Mediterranean island to be pillaged? How would we feel towards our government and the EU if this happened in the UK?
Yet when you visit Cyprus, as I did last week, it’s as if nothing had happened.
Any demonstrations are few and far between and are civilised affairs. People are stoical and determined to come out of the mess.
Hotels are functioning normally. Restaurants, cafes and tavernas are as welcoming as ever.
Using a foreign credit or debit card you can withdraw as much cash as your card allows. For the visitor, absolutely nothing has changed except that smaller establishments and petrol stations now prefer cash to card.
Even now, so soon after the event, it will be cheaper than it was last year because wages are falling and prices have no option but to follow.
So, if clients have already booked or are planning to book, they should simply continue as normal; they will be welcomed with open arms.
Share on facebookShare on twitterShare on email
Comments
This is a community-moderated forum.
All post are the individual views of the respective commenter and are not the expressed views of Travel Weekly
By posting your comments you agree to accept our Terms & Conditions
Apr 19, 2013 08:15AM GMT
0 Comments
Hotels are functioning, demonstrations are few and far between, and the people are as welcoming as ever, writes Noel Josephides, managing director of Sunvil Holidays
How did you choose the bank where you hold your cash and into which your wages are paid? For many of us, the advice as to which bank to use comes from our parents.
Let’s say your parents banked with Barclays; the chances are, you opened an account with Barclays. Another set of parents might have always banked with HSBC, so the chances are their children would end up banking there.
So when you open an account in a ‘household-name’ bank, do you check its audited accounts? Do you investigate whether it purchased Greek government bonds and ended up having to take a ‘haircut’ on that investment? Do you know what a ‘haircut’ is – in financial terms?
Just imagine you woke up one day to find your bank had frozen 90% of your hard-earned cash savings over £85,000 because it turned out to be under-capitalised (what does under-capitalised mean to the average man or woman?) and needed the cash to stave off bankruptcy.
However, your neighbour, whose cash is in another bank, is not affected at all. How would you feel?
Well, this is exactly what has happened in Cyprus. Suddenly, those banking with the island’s two largest banks are much poorer because the banks have simply taken their money. Others, banking with foreign banks on the island, are not affected at all.
If Barclays and HSBC in the UK had behaved in this way there would have been uproar. In fact, bankers in the UK, Spain, France, Portugal and Greece have made billions of pounds worth of errors, yet no one with cash in those banks has lost a penny.
Do you blame the Cypriots for feeling sore? Why has life picked on them? Will it forever be the destiny of this small Mediterranean island to be pillaged? How would we feel towards our government and the EU if this happened in the UK?
Yet when you visit Cyprus, as I did last week, it’s as if nothing had happened.
Any demonstrations are few and far between and are civilised affairs. People are stoical and determined to come out of the mess.
Hotels are functioning normally. Restaurants, cafes and tavernas are as welcoming as ever.
Using a foreign credit or debit card you can withdraw as much cash as your card allows. For the visitor, absolutely nothing has changed except that smaller establishments and petrol stations now prefer cash to card.
Even now, so soon after the event, it will be cheaper than it was last year because wages are falling and prices have no option but to follow.
So, if clients have already booked or are planning to book, they should simply continue as normal; they will be welcomed with open arms.
Share on facebookShare on twitterShare on email
Comments
This is a community-moderated forum.
All post are the individual views of the respective commenter and are not the expressed views of Travel Weekly
By posting your comments you agree to accept our Terms & Conditions
Best time to visit Cyprus
Opinion: Cyprus is safe and prices are lower
Apr 19, 2013 08:15AM GMT
0 Comments
Hotels are functioning, demonstrations are few and far between, and the people are as welcoming as ever, writes Noel Josephides, managing director of Sunvil Holidays
How did you choose the bank where you hold your cash and into which your wages are paid? For many of us, the advice as to which bank to use comes from our parents.
Let’s say your parents banked with Barclays; the chances are, you opened an account with Barclays. Another set of parents might have always banked with HSBC, so the chances are their children would end up banking there.
So when you open an account in a ‘household-name’ bank, do you check its audited accounts? Do you investigate whether it purchased Greek government bonds and ended up having to take a ‘haircut’ on that investment? Do you know what a ‘haircut’ is – in financial terms?
Just imagine you woke up one day to find your bank had frozen 90% of your hard-earned cash savings over £85,000 because it turned out to be under-capitalised (what does under-capitalised mean to the average man or woman?) and needed the cash to stave off bankruptcy.
However, your neighbour, whose cash is in another bank, is not affected at all. How would you feel?
Well, this is exactly what has happened in Cyprus. Suddenly, those banking with the island’s two largest banks are much poorer because the banks have simply taken their money. Others, banking with foreign banks on the island, are not affected at all.
If Barclays and HSBC in the UK had behaved in this way there would have been uproar. In fact, bankers in the UK, Spain, France, Portugal and Greece have made billions of pounds worth of errors, yet no one with cash in those banks has lost a penny.
Do you blame the Cypriots for feeling sore? Why has life picked on them? Will it forever be the destiny of this small Mediterranean island to be pillaged? How would we feel towards our government and the EU if this happened in the UK?
Yet when you visit Cyprus, as I did last week, it’s as if nothing had happened.
Any demonstrations are few and far between and are civilised affairs. People are stoical and determined to come out of the mess.
Hotels are functioning normally. Restaurants, cafes and tavernas are as welcoming as ever.
Using a foreign credit or debit card you can withdraw as much cash as your card allows. For the visitor, absolutely nothing has changed except that smaller establishments and petrol stations now prefer cash to card.
Even now, so soon after the event, it will be cheaper than it was last year because wages are falling and prices have no option but to follow.
So, if clients have already booked or are planning to book, they should simply continue as normal; they will be welcomed with open arms.
Share on facebookShare on twitterShare on email
Comments
This is a community-moderated forum.
All post are the individual views of the respective commenter and are not the expressed views of Travel Weekly
By posting your comments you agree to accept our Terms & Conditions
Apr 19, 2013 08:15AM GMT
0 Comments
Hotels are functioning, demonstrations are few and far between, and the people are as welcoming as ever, writes Noel Josephides, managing director of Sunvil Holidays
How did you choose the bank where you hold your cash and into which your wages are paid? For many of us, the advice as to which bank to use comes from our parents.
Let’s say your parents banked with Barclays; the chances are, you opened an account with Barclays. Another set of parents might have always banked with HSBC, so the chances are their children would end up banking there.
So when you open an account in a ‘household-name’ bank, do you check its audited accounts? Do you investigate whether it purchased Greek government bonds and ended up having to take a ‘haircut’ on that investment? Do you know what a ‘haircut’ is – in financial terms?
Just imagine you woke up one day to find your bank had frozen 90% of your hard-earned cash savings over £85,000 because it turned out to be under-capitalised (what does under-capitalised mean to the average man or woman?) and needed the cash to stave off bankruptcy.
However, your neighbour, whose cash is in another bank, is not affected at all. How would you feel?
Well, this is exactly what has happened in Cyprus. Suddenly, those banking with the island’s two largest banks are much poorer because the banks have simply taken their money. Others, banking with foreign banks on the island, are not affected at all.
If Barclays and HSBC in the UK had behaved in this way there would have been uproar. In fact, bankers in the UK, Spain, France, Portugal and Greece have made billions of pounds worth of errors, yet no one with cash in those banks has lost a penny.
Do you blame the Cypriots for feeling sore? Why has life picked on them? Will it forever be the destiny of this small Mediterranean island to be pillaged? How would we feel towards our government and the EU if this happened in the UK?
Yet when you visit Cyprus, as I did last week, it’s as if nothing had happened.
Any demonstrations are few and far between and are civilised affairs. People are stoical and determined to come out of the mess.
Hotels are functioning normally. Restaurants, cafes and tavernas are as welcoming as ever.
Using a foreign credit or debit card you can withdraw as much cash as your card allows. For the visitor, absolutely nothing has changed except that smaller establishments and petrol stations now prefer cash to card.
Even now, so soon after the event, it will be cheaper than it was last year because wages are falling and prices have no option but to follow.
So, if clients have already booked or are planning to book, they should simply continue as normal; they will be welcomed with open arms.
Share on facebookShare on twitterShare on email
Comments
This is a community-moderated forum.
All post are the individual views of the respective commenter and are not the expressed views of Travel Weekly
By posting your comments you agree to accept our Terms & Conditions
Wednesday, 10 April 2013
Hotel Amenities
Apr 08, 13 | 12:06 am
By Nancy Trejos
Hotels used to try to keep guests indoors at their bars, restaurants and spas.
Now they're dragging them outside.
Hotels are taking their concierge role to a new level, offering tailored experiences that expose guests to the history, foods and attractions of the community surrounding them. The experiences are often exclusive. Sometimes they're free, but most often, they're not.
The more expensive they are, the more elaborate they become, such as the $10,000 "Bucket List" experience offered by The Ritz-Carlton, Charlotte which is available to one guest at a time. The experience changes once it is sold. In April, it will include four floor seats to an NBA Charlotte Bobcats game, a player meet and greet, two nights in a suite, and a few meals. The full amount goes to a local charity.
Chekitan Dev, an associate professor of marketing and branding at Cornell University's School of Hotel Administration and author of Hospitality Branding, says it is an extension of the pre-recession amenity wars. Now that the economy is getting better, hotel guests value experiences more than they do "stuff."
"Travelers faced a dizzying array of amenities on the bathroom vanity," he says. "Housekeepers had to keep the items stocked, and hotel owners faced bigger bills ... Research that suggests people value experiences more than they value stuff has led many brands to rework their amenities that's less about stuff and more about high value unique experiences coupled with exclusive access."
Some examples:
At the Carlyle, a Rosewood Hotel in New York, young guests can get the "Super Sophie Experience" based on Kelly Florio Kasouf's children's book series, The Super Adventures of Sophie and The City. Children get loaner iPad minis to follow Sophie's virtual tour of favorite spots such as Grand Central Station, the Chrysler Building, and more. It's included as part of a package starting at $835 that includes a stay for two and gifts such as an Oscar de la Renta children's dress inspired by the books.
At the Hotel Indigo Long Island-East End, guests can take wine and spirits tours through the "North Fork Uncorked Tour Package." In addition to an overnight stay for two, they get tastings at three vineyards or distilleries, breakfast and snacks. The price: $270 on weekdays and $329 on weekends per person, plus tax.
At the Mandarin Oriental in Washington, D.C., the concierge arranges a behind the scenes tour of the U.S. Capitol, during which guests can step out onto the balconies overlooking the National Mall. Exclusive tours of the Bureau of Printing and Engraving are available as well. Prices vary depending on timing and number of people. Another D.C. establishment, The Ritz-Carlton, Washington, D.C. is offering two tickets to the new Newseum exhibit marking the 50th anniversary of President John F. Kennedy's assassination. It is part of a stay for two starting at $489 a night.
The Carlyle, a Rosewood Hotel in New York, offers young guests a "Super Sophie Experience" based on the children's book series. The youngsters get loaner iPad minis to take a tour of the city.
(Photo: The Carlyle, a Rosewood Hotel)
Guests with more limited budgets can still experience unique activities.
At IHG's Holiday Inn Resort Los Cabos in Mexico guests can take a bike tour, free with a stay, through the adjacent estuary, a natural preserve that is home to more than 350 different species of fauna. The tour also takes them through downtown San Jose del Cabo and seasonal attractions such as the local rodeo.
The Fairmont Mayakoba in Mexico's Riviera Maya has recently started to offer to all hotel guests complimentary sea kayaking close to the Mesoamerican Reef, the largest in the Americas.
"Our guests are ... interested in going 'off the guidebook pages' at times, and we look to develop activities, oftentimes with our neighbors and partners, that give them that extra insight or an experience that they haven't had before," says Mike Taylor, a Fairmont spokesman.
Radha Arora, president of Rosewood Hotels and Resorts, says he believes offering guests unique experiences sets Rosewood hotels apart from the competition.
"Rosewood has always strived to offer unique, personalized experiences which acquaint our guests with the destination and provide them with access they may not otherwise have," Arora says.
Experiences equal loyalty?
Maryam Wehe, senior vice president at Applied Predictive Technologies, which does hotel consulting, says hotel guests might rate a hotel stay higher because of a unique experience,
"Leisure travelers who have chosen a hotel for a destination stay are looking to the hotel to create unique memories," she says. "'What was memorable? What stood out during this vacation?' are becoming benchmarks for rating hotel stays. In response to this challenge, hotels are looking to go beyond the pool and palm trees to create 'Do you remember when...' experiences."
But, she says, the strategy doesn't necessarily work at all hotels.
"The question that hotels need to ask is which types of locations and with which guest segments (do) these ideas really work, and where they do not work?," she says.
Adam Weissenberg, vice chairman and U.S. leader of Deloitte's travel, hospitality and leisure sector, says that offering experiences "could potentially build loyalty if they are interesting offerings to the guests."
But he considers them more "ways to attract leisure customers on weekends to hotels, which are full during the week for business travelers."
"I think this has always been the challenge for hotels," he says. "They are just now coming up with more creative ideas."
Source: USA Today
By Nancy Trejos
Hotels used to try to keep guests indoors at their bars, restaurants and spas.
Now they're dragging them outside.
Hotels are taking their concierge role to a new level, offering tailored experiences that expose guests to the history, foods and attractions of the community surrounding them. The experiences are often exclusive. Sometimes they're free, but most often, they're not.
The more expensive they are, the more elaborate they become, such as the $10,000 "Bucket List" experience offered by The Ritz-Carlton, Charlotte which is available to one guest at a time. The experience changes once it is sold. In April, it will include four floor seats to an NBA Charlotte Bobcats game, a player meet and greet, two nights in a suite, and a few meals. The full amount goes to a local charity.
Chekitan Dev, an associate professor of marketing and branding at Cornell University's School of Hotel Administration and author of Hospitality Branding, says it is an extension of the pre-recession amenity wars. Now that the economy is getting better, hotel guests value experiences more than they do "stuff."
"Travelers faced a dizzying array of amenities on the bathroom vanity," he says. "Housekeepers had to keep the items stocked, and hotel owners faced bigger bills ... Research that suggests people value experiences more than they value stuff has led many brands to rework their amenities that's less about stuff and more about high value unique experiences coupled with exclusive access."
Some examples:
At the Carlyle, a Rosewood Hotel in New York, young guests can get the "Super Sophie Experience" based on Kelly Florio Kasouf's children's book series, The Super Adventures of Sophie and The City. Children get loaner iPad minis to follow Sophie's virtual tour of favorite spots such as Grand Central Station, the Chrysler Building, and more. It's included as part of a package starting at $835 that includes a stay for two and gifts such as an Oscar de la Renta children's dress inspired by the books.
At the Hotel Indigo Long Island-East End, guests can take wine and spirits tours through the "North Fork Uncorked Tour Package." In addition to an overnight stay for two, they get tastings at three vineyards or distilleries, breakfast and snacks. The price: $270 on weekdays and $329 on weekends per person, plus tax.
At the Mandarin Oriental in Washington, D.C., the concierge arranges a behind the scenes tour of the U.S. Capitol, during which guests can step out onto the balconies overlooking the National Mall. Exclusive tours of the Bureau of Printing and Engraving are available as well. Prices vary depending on timing and number of people. Another D.C. establishment, The Ritz-Carlton, Washington, D.C. is offering two tickets to the new Newseum exhibit marking the 50th anniversary of President John F. Kennedy's assassination. It is part of a stay for two starting at $489 a night.
The Carlyle, a Rosewood Hotel in New York, offers young guests a "Super Sophie Experience" based on the children's book series. The youngsters get loaner iPad minis to take a tour of the city.
(Photo: The Carlyle, a Rosewood Hotel)
Guests with more limited budgets can still experience unique activities.
At IHG's Holiday Inn Resort Los Cabos in Mexico guests can take a bike tour, free with a stay, through the adjacent estuary, a natural preserve that is home to more than 350 different species of fauna. The tour also takes them through downtown San Jose del Cabo and seasonal attractions such as the local rodeo.
The Fairmont Mayakoba in Mexico's Riviera Maya has recently started to offer to all hotel guests complimentary sea kayaking close to the Mesoamerican Reef, the largest in the Americas.
"Our guests are ... interested in going 'off the guidebook pages' at times, and we look to develop activities, oftentimes with our neighbors and partners, that give them that extra insight or an experience that they haven't had before," says Mike Taylor, a Fairmont spokesman.
Radha Arora, president of Rosewood Hotels and Resorts, says he believes offering guests unique experiences sets Rosewood hotels apart from the competition.
"Rosewood has always strived to offer unique, personalized experiences which acquaint our guests with the destination and provide them with access they may not otherwise have," Arora says.
Experiences equal loyalty?
Maryam Wehe, senior vice president at Applied Predictive Technologies, which does hotel consulting, says hotel guests might rate a hotel stay higher because of a unique experience,
"Leisure travelers who have chosen a hotel for a destination stay are looking to the hotel to create unique memories," she says. "'What was memorable? What stood out during this vacation?' are becoming benchmarks for rating hotel stays. In response to this challenge, hotels are looking to go beyond the pool and palm trees to create 'Do you remember when...' experiences."
But, she says, the strategy doesn't necessarily work at all hotels.
"The question that hotels need to ask is which types of locations and with which guest segments (do) these ideas really work, and where they do not work?," she says.
Adam Weissenberg, vice chairman and U.S. leader of Deloitte's travel, hospitality and leisure sector, says that offering experiences "could potentially build loyalty if they are interesting offerings to the guests."
But he considers them more "ways to attract leisure customers on weekends to hotels, which are full during the week for business travelers."
"I think this has always been the challenge for hotels," he says. "They are just now coming up with more creative ideas."
Source: USA Today
Tuesday, 9 April 2013
Cyprus Tourism
Cyprus promotions seek to combat banking crisis
By Phil Davies
Apr 09, 2013 08:22AM GMT
0 Comments
Extra promotional deals and early booking offers to Cyprus are being employed to overcome the negative impact to tourism of the island’s banking crisis.
Hoteliers, agents and operators on the island report that their offering remains unchanged as they gear up for the Greek Orthodox Easter celebrations which coincide with the May bank holiday in the UK.
Hotels and most restaurants continue to operate normally and ATM withdrawal limits have returned to standard levels, according to the Cyprus Tourism Organisation.
Most hotels and major restaurants have continued to accept credit cards during the banking meltdown.
Cyprus agreed a €10 billion bailout from the European Union and International Monetary Fund designed to untwine it from a banking sector that has all but crumbled in the past month.
Visitors should find there are no issues with cash on the island as ATM withdrawals – for UK account holders – have returned to the standard level of €300, the CTO said. The limit for cash being taken out of the country remains at €1,000.
Visitors arriving with more than this amount are advised to declare it at customs on arrival in order to be able to take the same amount with them on departure.
CTO UK director Orestis Rossides said: “In light of the recent domestic banking developments, we are keen to reassure travellers to Cyprus that its tourism offering remains strong.
“With a wide range of attractive packages on offer, now is the time to time to look to trustworthy holiday operators and enjoy a sun-filled break to the island and experience the warm and friendly hospitality that Cyprus is so famed for.”
Classic Collection Holidays head of marketing Vanda Bauer said the operator enjoyed “unprecedented sales” to Cyprus in January and February with summer bookings up by more than 50% above the same period last year.
“Not unexpectedly, during March, sales slowed but somewhat surprisingly didn’t dry up completely,” she added.
“We here in Britain appear to have a great affinity for all things Cypriot, and there are many loyal Classic customers from the UK who are continuing to support their Cypriot friends by continuing to visit this sun-filled Mediterranean island.”
By Phil Davies
Apr 09, 2013 08:22AM GMT
0 Comments
Extra promotional deals and early booking offers to Cyprus are being employed to overcome the negative impact to tourism of the island’s banking crisis.
Hoteliers, agents and operators on the island report that their offering remains unchanged as they gear up for the Greek Orthodox Easter celebrations which coincide with the May bank holiday in the UK.
Hotels and most restaurants continue to operate normally and ATM withdrawal limits have returned to standard levels, according to the Cyprus Tourism Organisation.
Most hotels and major restaurants have continued to accept credit cards during the banking meltdown.
Cyprus agreed a €10 billion bailout from the European Union and International Monetary Fund designed to untwine it from a banking sector that has all but crumbled in the past month.
Visitors should find there are no issues with cash on the island as ATM withdrawals – for UK account holders – have returned to the standard level of €300, the CTO said. The limit for cash being taken out of the country remains at €1,000.
Visitors arriving with more than this amount are advised to declare it at customs on arrival in order to be able to take the same amount with them on departure.
CTO UK director Orestis Rossides said: “In light of the recent domestic banking developments, we are keen to reassure travellers to Cyprus that its tourism offering remains strong.
“With a wide range of attractive packages on offer, now is the time to time to look to trustworthy holiday operators and enjoy a sun-filled break to the island and experience the warm and friendly hospitality that Cyprus is so famed for.”
Classic Collection Holidays head of marketing Vanda Bauer said the operator enjoyed “unprecedented sales” to Cyprus in January and February with summer bookings up by more than 50% above the same period last year.
“Not unexpectedly, during March, sales slowed but somewhat surprisingly didn’t dry up completely,” she added.
“We here in Britain appear to have a great affinity for all things Cypriot, and there are many loyal Classic customers from the UK who are continuing to support their Cypriot friends by continuing to visit this sun-filled Mediterranean island.”
Subscribe to:
Posts (Atom)