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Irish hotel survey shows 90% of hoteliers reporting increase in business levels

DUBLIN: The majority of Irish hotels and guesthouses have seen an upturn in business during the first six months of 2015 according to the latest quarterly barometer from the Irish Hotels Federation (IHF). With overseas visitors up 12% year to date, the industry survey reveals that nine out of 10 hoteliers across the country report an increase in business levels ... Read More »

Hungary’s Danubius Hotels Q1 loss narrows HUF 980M

BUDAPEST: An earnings report published late Friday shows that the Hungaryʼs Danubius Hotelsʼ first-quarter loss narrowed to HUF 980 million from the HUF 2.6 billion loss recorded in the same period a year earlier, on the back of  mostly unrealized foreign currency gains,. Revenue rose 2% to HUF 9.3 bln, but cost of materials and services outpaced the increase, climbing ... Read More »

Hungary’s Danubius Hotels Q1 loss narrows HUF 980M

BUDAPEST: An earnings report published late Friday shows that the Hungaryʼs Danubius Hotelsʼ first-quarter loss narrowed to HUF 980 million from the HUF 2.6 billion loss recorded in the same period a year earlier, on the back of  mostly unrealized foreign currency gains,. Revenue rose 2% to HUF 9.3 bln, but cost of materials and services outpaced the increase, climbing ... Read More »

Accor sells 29 hotels in Germany and Netherlands for €234 million

AMSTERDAM: As part of the restructuring of HotelInvest’s assets, Accor announces the sale and franchise-back of 29 hotels (3,354 rooms) in Germany (18 hotels, 2,167 rooms) and the Netherlands (11 hotels, 1,187 rooms) for a total value of €234 million. The selling price amounts to €209m. The buyer has committed to a €25m renovation plan. The portfolio comprises 2 ibis ... Read More »

Accor sells 29 hotels in Germany and Netherlands for €234 million

AMSTERDAM: As part of the restructuring of HotelInvest’s assets, Accor announces the sale and franchise-back of 29 hotels (3,354 rooms) in Germany (18 hotels, 2,167 rooms) and the Netherlands (11 hotels, 1,187 rooms) for a total value of €234 million. The selling price amounts to €209m. The buyer has committed to a €25m renovation plan. The portfolio comprises 2 ibis ... Read More »

FBR to settle down low growth in provincial tax revenues

ISLAMABAD: The Federal Board of Revenue (FBR) has expectations that low growth in provincial tax revenues will settle down after witnessing an initial spurt following the devolution of sales tax collection. “The FBR was concerned over the low growth in provincial tax collection after rising substantially in the previous year, the pace of tax collection weakened in third quarter of ... Read More »

CHS vows relief efforts till IDPs back at home

LAHORE: Customs Health Society (CHS) President Dr. Asif Mehmood Jah assured that relief efforts for IDPs will continue until every IDP back at home at North Waziristan. He mentioned that the CHS has also dug out Thirty five (35) water wells in Tharparkar area of Sindh for provision of clean drinking water to more than 50,000 people of the area. ... Read More »