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Hotels Resorts and Cruise Lines

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  • REFILE-Carnival Corp swings to profit as costs fall Friday, 27 Mar 2015 | 9:42 AM ET

    March 27- Carnival Corp, the world's largest cruise operator by revenue, swung to a quarterly profit, helped by lower costs. The company reported a net profit of $49 million, or 6 cents per share in the first quarter ended Feb. 28, compared to a net loss of $20 million, or 3 cents per share, a year earlier. Carnival Corp's operating costs fell 7 percent in the latest quarter,...

  • US stock market opens higher, breaking a 4-day slump Friday, 27 Mar 2015 | 9:42 AM ET

    NEW YORK— U.S. stocks are opening modestly higher after four losing days. Cruise operator Carnival jumped 6 percent in early trading Friday after reporting income that was far higher than Wall Street analysts were expecting. The price of oil fell $1.31 to $50.12 a barrel in New York.

  • Carnival Corp swing to profit as costs fall Friday, 27 Mar 2015 | 9:29 AM ET

    March 27- Carnival Corp, the world's largest cruise operator by revenue, swung to a quarterly profit, helped by lower costs. The company reported a net profit of $49 million, or 6 cents per share in the first quarter ended Feb. 28, compared to a net loss of $20 million, or 3 cents per share, a year earlier. Carnival Corp's operating costs fell 7 percent in the latest quarter,...

  • TALLAHASSEE, Fla., March 26- A bill to create two casino gambling "destination resorts" in south Florida divided the Republican-controlled statehouse on Thursday, with the expansion of craps, slot machines and high-stakes gaming opposed by family-oriented tourist attractions. Proponents argue that Florida is losing billions in tourism revenue to Caribbean...

  • SAN JUAN, Puerto Rico— Puerto Rico is preparing to welcome the world's two largest cruise ships for the first time next year. The executive director of the island's Tourism Company says Royal Caribbean's Allure of the Seas and Oasis of the Seas will bring an estimated 60,000 passengers to San Juan in 2016. Next year's visits are expected to generate an estimated...

  • 3 Chinese killed in bus crash on Thai island of Phuket Wednesday, 25 Mar 2015 | 5:25 AM ET

    BANGKOK— A tour bus carrying Chinese tourists plunged off a road on the popular Thai resort island of Phuket on Wednesday, killing three and injuring 16, police said. He said it was on its way from Phuket's Kata beach to Phang Nga province, another popular beach destination in southern Thailand. Phuket is a popular destination among Thai and foreign tourists.

  • Royal Caribbean sets sail for China   Tuesday, 24 Mar 2015 | 10:52 PM ET
    Royal Caribbean sets sail for China

    Michael Bayley, president & CEO at Royal Caribbean International, says the company is seeing good growth out of the mainland, driven partly by younger Chinese passengers.

  • Atlantic City leaders aim to stave off bankruptcy Tuesday, 24 Mar 2015 | 4:50 PM ET
    Several bank owned lots are for sale next door to the shuttered Revel casino on the north end of the boardwalk. Locals are pinning their hopes on Mayor Don Guardian as Atlantic City suffers through a run of casino closings.

    A report by a turnaround team tasked with reviving Atlantic City said possible options would be to cut costs and jobs.

  • YASMIN HAMMAMET, Tunisia, March 23- The European visitors strolling Tunisia's Hammamet resort are an encouraging sign for a government determined to minimise the fallout of last week's shooting of 20 tourists in the nearby capital. Japanese, Spanish, Italian and Colombian tourists were among the victims when at least two gunmen opened fire on their buses as...

  • BERLIN/ LONDON, March 22- Driven by the demands of a new plugged-in generation seeking "authentic" travel experiences with a local feel, the world's biggest hoteliers are moving into a new sector in Europe- the "lifestyle" boutique hotel. After many years focused on baby boomers and business travellers, brands such as Marriott, Hilton, Starwood and InterContinental...

  • Cruise lines stop Tunisia visits after museum attack Thursday, 19 Mar 2015 | 8:31 AM ET

    ROME— Two cruise lines suspended visits to Tunisia on Thursday after 17 passengers from their ships were killed in the museum attack, delivering an immediate economic blow to the North African country. On Thursday morning, both the MSC Splendida and Costa's Fascinosa ship left Tunisia with their remaining passengers, bound for Barcelona and Palma de Mallorca,...

  • Marcus beats Street 3Q forecasts Thursday, 19 Mar 2015 | 8:06 AM ET

    MILWAUKEE _ Marcus Corp. on Thursday reported fiscal third-quarter earnings of $3.1 million. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 4 cents per share. Three analysts surveyed by Zacks expected $116.3 million.

  • MGM also said it would consider the investment manager's plan to nominate four candidates to its board, including founder Jonathan Litt. MGM operates destination resorts such as the Bellagio, MGM Grand and the Mirage. Land and Buildings', which owns a 0.8 percent stake in MGM, said it expected MGM's net asset value to rise to $55 per share from $33 after the...

  • Full steam ahead for Asia’s cruise industry Wednesday, 18 Mar 2015 | 3:08 AM ET
    The international luxury liner Costa Romantica arrives at the Tianjin International Cruise Homeport in China.

    Following years of double-digit growth, Asia's cruise industry is set for a "record-breaking year" in 2015, thanks to booming demand from Chinese holidaymakers, a new report shows.

  • Guess who's leading growth in Asia's cruise market?

    Adam Goldstein, chairman of the Cruise Lines International Association, says Chinese travelers are spearheading the double-digit growth in Asia's cruise industry.

  • Why Vail beat Street despite FX headwinds: CEO Thursday, 12 Mar 2015 | 11:27 AM ET
    Rob Katz, Vail Resorts CEO

    Vail Resorts CEO Rob Katz explains why the company beat analysts earnings expectations despite recent currency headwinds.

  • MIAMI, March 11- The former chief executive of Norwegian Cruise Line Holdings Ltd sued Richard Branson's Virgin Group in federal court in Miami for $300 million on Wednesday over plans by the British billionaire to launch his own luxury cruise line. Virgin Group announced the Bain Capital- backed cruise line project last December. As CEO of the new Virgin...

  • Hotel investors battle for yield as sector heats up Sunday, 8 Mar 2015 | 5:00 AM ET

    *Report predicts $68 bln in hotel real estate deals in 2015. BERLIN, March 8- Investors are expected to pump more money into buying, converting or building hotels in 2015 than in any year since the start of the global financial crisis, with a focus on budget and' buzz'. "It's not about people loving hotels, it's about investors searching for a return on their money which...

  • BOSTON, March 5- Hotel operator Mandarin Oriental International Ltd said on Thursday that it was the victim of a cyberattack and that it found malicious software on credit card systems at "an isolated number" of hotels in the United States and Europe. The company said in a statement on its website that it was working with credit card companies, law enforcement and...

  • What Marriott hopes to achieve with new brands   Sunday, 22 Feb 2015 | 6:42 PM ET
    What Marriott hopes to achieve with new brands

    Simon Cooper, president & managing director for Asia Pacific at Marriott International, discusses how its new hotel brands like Edition and Autograph Collection fit into its growth strategy.