The Blue Swan Daily brings you a round up of the latest key hotel news from across the South Pacific.
BCD Travel forecasts global airfares and hotel rates will rise in 2020
BCD Travel released (17-Sep-2019) its 2020 Industry Forecast, projects global airfares will rise by 1% to 2% in 2020, while global hotel rates will increase by 1% to 3%. According to BCD, demand will be strong enough for airlines in most markets to raise average fares to help offset higher fuel and labour costs. In 2020, economy fares for regional flights are expected to rise by 1%, while business class fares will increase by 2%. Globally, average air ticket prices for intercontinental travel in both business and economy classes are expected to rise 1% in 2020. Average ticket price increases will range 1% to 3% across the regions.
Cross Hotels and Resorts Grows Portfolio with Iconic X2 Vibe Halong Bay
Cross Hotels and Resorts has expanded its presence in Vietnam with the signing of a hotel management agreement for the X2 Vibe Halong Bay. The agreement was signed with Halong Bay Hotel Joint Stock Company, a subsidiary of Vietnamtourism – Hanoi JSC. Set to welcome its first guests in late 2023, the property will comprise 470 guestrooms making it one of the largest internationally branded hotels in the area.