Thredbo has become the first Australian ski resort to reveal its pricing for season 2020, increasing the cost of a daily lift ticket by 20 per cent to $159 a day. Sounds outrageous at a time of hardship and unemployment for many, however the steep price hike is no doubt down to the fact that […]
Tag: Travel Recovery
Special Report – short term rentals bounce back
It was like a car smash in which the driver and passengers were battered and bruised but managed to escape the wreck, hobbling away with a new resolve to make the most of every day – because you never know what will happen next. I’m referring to COVID, of course, which hit the Australian travel […]
It’s terminal: TigerAir Australia shut down for good by Virgin Australia
Virgin Australia (VAH) has finally killed off its low-cost carrier Tigerair Australia, according to multiple media reports. The carrier, which has been grounded since late April, was originally going to be mothballed by VAH and resurrected when travel recovered post-COVID. But in a customer email obtained by Yahoo Finance, Tigerair Australia yesterday confirmed it will no longer […]
Expedia, Agoda say ‘sacred cows’ of rate parity and last room availability killed by COVID
The adversarial relationship between hoteliers and the OTAs has changed to an “all hands on deck mentality” during COVID with operators no longer insisting on rate parity and last room availability – once major sticking points – as they scramble to put heads on beds, according to Expedia and Agoda. Speaking at the Web in Travel […]
Accor CEO Sebastien Bazin says business travel down 10% long term
Accor CEO Sebastien Bazin believes business travel will “never return to the new normal” and that in the long term corporate numbers likely sit around 10% less than they were pre-COVID. Short term, until mid-2021, he estimates business travel will be down 25% to 30%. “Longer term, my expectation is going to be it will […]
Sydney Airport to raise $2bn as business struggles with COVID
Sydney Airport is raising $2 billion to pay down debt and increase liquidity during the toughest period in its history. The company revealed that passenger numbers during the second quarter were down 96.6% over the previous corresponding period, contributing to a $53.5 million loss for the half year to June 30. Total passenger numbers for […]
Coronavirus hits Australian hotel performance
Australian hotels have been severely impacted by the coronavirus pandemic and related bans on Chinese travellers. STR data shows Melbourne and Brisbane were the only two major Australian markets to report year on year RevPAR growth between 24 Jan and 9 Feb, 2020, a two week stretch encompassing Chinese New Year. All other markets were […]
Travel back to (almost) normal by 2024
Macquarie Research has brought forward its travel industry recovery profile by 6-9 months due to the rollout of global vaccines in its latest analysis of the Flight Centre business. “We forecast 85% Total Turnover Value recovery (of pre COVID-19 levels) in FY24 (FY21: 30% recovery, FY22: 55%, FY23: 75%), with more emphasis expected on domestic […]