Top Stories
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TripAdvisor acquires Spanish vacation rental site and dramatically boosts portfolio
DigitalTripAdvisor has acquired its third vacation rental business, Niumba.com in Spain, a move that will dramatically increase TripAdvisor’s vacation rental properties. TripAdvisor says Madrid-based Niumba, with more than 120,000 properties in Spain, and 230,000 overall, will continue to operate as a separate brand, although its listings will be integrated into TripAdvisor and HolidayLettings. At the [...]
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Hong Kong casino group buys another lucrative Macau resort to lure Chinese tourists
DestinationsGalaxy Entertainment Group Ltd., the casino operator that doubled its profit last year, is buying the Grand Waldo resort in Macau for HK$3.25 billion ($419 million) to lure more Chinese tourists. Galaxy will buy Grand Waldo land and buildings, including a 29,700 square-meter hotel, from units of Get Nice Holdings Ltd., according to statements from [...]
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TripAdvisor acquires cruise online-booking site CruiseWise
DigitalAre cruise transactions in TripAdvisor’s future? Probably not, but TripAdvisor has acquired CruiseWise, an online cruise-booking startup that was founded in 2010. And, TripAdvisor plans on integrating CruiseWise’s tech talent and some of its content into TripAdvisor’s CruiseCritic unit, a leading cruise news and user generated content site. You can expect that a major overhaul [...]
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Pinnacle emerges from bankruptcy and moves to Minnesota as Delta subsidiary
TransportDelta Connection carrier Pinnacle Airlines emerged from bankruptcy Wednesday and became a subsidiary of Delta Air Lines. Pinnacle also plans to move its headquarters from Memphis to Minnesota by the end of this month. Atlanta-based Delta last year gave Pinnacle $74.3 million in financing and said it would add to the Pinnacle fleet 40 CRJ-900 [...]
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So it happens: Etihad buys 24 percent stake in India’s Jet for $380 million
TransportIndia’s Jet Airways will sell a minority stake to fast-growing Abu Dhabi-based Etihad Airways for roughly $379 million after months of negotiations, giving a lift to India’s embattled aviation industry. The investment would be the first by an overseas operator in an existing Indian carrier since the country relaxed ownership rules in September to allow [...]
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British Airways parent gains full control of Spain’s Vueling for $160 million
TransportBritish Airways parent IAG SA acquired control of discount carrier Vueling Airlines SA for 123.5 million euros ($160 million) as Europe’s third largest airline group seeks to stem losses in Spain. IAG, which already held a 45.85 percent stake in Barcelona- based Vueling, now owns 90.51 percent after the majority of remaining investors accepted its [...]
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American’s software meltdown yesterday probably won’t be its last
Transport… But in recent years, the most frequent cause of software breakdowns is mergers. “When airlines switch computer systems, you can bet on major problems,” says Boyd. “Sometimes for days.” The most recent merger-related failure was caused when United Airlines adopted Continental’s software after the companies joined forces last year. Despite months of pre-planning and [...]
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Bad week for airline CEOs: United’s Smisek saw 41 percent pay cut
TransportThe CEO of United Airlines saw his total 2012 compensation shrink 41 percent last year after stumbles in the airline’s merger with Continental. Compensation for Chairman and CEO Jeff Smisek was $7.9 million last year, down from $13.4 million after a cut in his incentive payments. A securities filing on Friday said United executives met [...]
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British Airways boss sees consolidation, not alliances, as future of aviation
TransportIAG SA Chief Executive Officer Willie Walsh, who led the company’s creation via a merger of British Airways and Spain’s Iberia, said he favors a further bout of consolidation to boost revenue while paring costs. Airline alliances like Oneworld, of which IAG is a leader, exist only because of restrictions on mergers, for which the [...]
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American Express sells tour operator to competitor Apple Leisure Group
DigitalApple Leisure Group acquired Travel Impressions, one of its strongest competitors in the Caribbean and Mexico since the 1970s. Apple Leisure Group entered into an agreement with American Express Travel Related Services Co. under which Apple will take over Travel Impressions, a wholly owned subsidiary of American Express. Alex Zozaya, CEO of Apple Leisure Group, [...]
