Starfish Travel Corporation Team

Recent transactions in the experiences technology sector, like the Rezdy-Checkfront-Regiondo deal and Respax’s acquisition of Livn, raised the bar for mergers and acquisitions.  However, a mid-season pulse poll of U.S. operators by Arival and experts from Chenmark suggests that the North American market is currently slowing down for tour and activity firms themselves. Only half of American operators reported seeing an increase in business in the first half of 2023, according to a July 2023 study of more than 120 operators from North America and Europe.  Operators in Europe do better in comparison; four out of five report an increase in business through 2022. It’s never too early to begin putting together a tour company business for sale, according to Trish Higgins, a partner at Chenmark, a family-owned holding company that specializes in purchasing businesses from owner-operators when they desire to retire.  However, business owners should think about how the state of the market can affect their prospects. In anticipation of her talks at the next Arival 360 | Orlando, which takes place later this month, Higgins provided Arival with her perspectives on the current acquisition environment for North American tour and activity operators as well as some advice for operators on how to get ready to sell. According to Higgins, “North America is still recovering from its post-pandemic revenge travel boom, which raises questions about whether booking levels will remain high — or decline, as suggested by Arival’s most recent mid-season pulse survey of U.S. operators.” According to Higgins, “with bookings slowing down and impending economic uncertainty, sellers may want to sell, but buyers are cautious.” “Business data for 2022 may be strong, while 2023 results through June may be weaker.  I predict that for the remainder of the year, buyers will adopt a “wait and see approach” to determine how the outcomes of 2023 will represent the “new normal.” However, the survey indicates that some businesses might be more enticing to potential customers. Because travelers want distinctive experiences, businesses that provide them may endure even during times of general market uncertainty. “People are still willing to spend on those special experiences, and I think that is a shift: even if people are giving up spend elsewhere, they’re going to value those things,” says Higgins. “So I think that people offering a special experience are holding up and will continue to hold up,” and since tourists respect them more, potential buyers would value them as well. “People want to have an experience wherever they go right now, so there are more opportunities everywhere in those areas.” Higgins shares her top advice for individuals thinking about selling, whether they plan to do so soon or not: Even if you don’t want to do anything or even think about it, it’s better to be prepared than not. The more you prepare, the better the results will be if you do.  You don’t want to find yourself in a scenario where you have to sell your firm due to health concerns or other circumstances, but you haven’t given much thought to how you should be setting things up. Organize your home – Maintaining order in your finances will make it easier to convey them to a potential buyer and will ensure that the business can continue without you. This is just excellent business practice and will be helpful if and when you decide to sell. If you take into account who you might want to sell to, you can locate the ideal buyer far more easily if you invest in relationships with them today, even years before you decide to sell. Think about the potential value of your company and educate yourself on the various business valuation frameworks. A number of frameworks, including the value of your assets and the multiple of earnings or sales, can be used to estimate the value of your company.  In the end, business valuation is an art rather than a science.  The value is ultimately whatever two individuals determine to be the value. At the next Arival 360 | Orlando in October, Chenmark’s Trish Higgins will moderate breakout sessions on the current investment, merger, and acquisition landscape in the experiences industry and how to get ready to sell — or purchase — a tour company. Source- Travel daily

With the return of the city’s massive outdoor culinary event, Hong Kong Wine & Dine Festival, the Hong Kong Tourism Board invites food and wine enthusiasts from all over the world to celebrate the joys of gastronomy in Asia’s gastronomic capital. The four-day festival also serves as the beginning of a month-long calendar of exciting nightlife events that will take place all around the city in November. Mr. Puneet Kumar, Director – South Asia and Middle East, Hong Kong Tourism Board, commented on the upcoming Hong Kong Wine & Dine Festival by saying, “As young and affluent Indian travelers seek immersive holidays, Hong Kong is ready to captivate their senses with global culinary experiences set against its iconic skyline. After a five-year hiatus, the Hong Kong Wine & Dine Festival’s comeback is a significant event in our culinary calendar. It’s more than just a gathering; it’s a celebration of the world’s delicacies and our illustrious culinary history. It is an invitation to partake in the lively nightlife and cuisine of the city. We can’t wait to see all of our foreign guests as they experience the best delicacies on earth, make priceless memories, and discover Hong Kong in a whole new way. The physical version of the Hong Kong Wine & Dine Festival is returning. The four-day gastronomic extravaganza known as the Hong Kong Wine & Dine Festival 2023 will be held from October 26 to October 29 at Victoria Harbour’s Central Harbourfront Event Space. This year’s edition, which marks the event’s return to physical form after a five-year absence, will feature close to 300 booths displaying international food and wine options, as well as a number of engaging programs for foodies of all ages. Additionally, eligible foreign guests will get a complimentary drink when they arrive. The Festival will undoubtedly have a wine theme, and the well-liked Major Country Pavilions will feature producers from 36 different nations. The historic vintages from France and Italy as well as the new wine regions from Thailand, Moldova, and Finland will be highlighted this year. Xige Estate and Chateau Mihope from Ningxia (Northwest China), Yunnan Red Wine & Spirits, and Shandong-based Mystic Island Winery are among the wineries included in the Festival’s first-ever Chinese Wine Discovery showcase. Indulge in a wide variety of international flavors throughout the course of the four-day festival, which will feature meals ranging from punchy, flavor-packed street cuisine to nostalgic local favorites to elegant hotel specialties from vendors including The Ritz-Carlton Hong Kong. In addition to Tasting Theatre, which is new to the Festival, there will be a number of practical workshops available for visitors of all ages who feel motivated to get their hands dirty and put on an apron. These sessions include “Plant to Plate,” “Origin of the Coffee Bean,” “The Story of Rice,” and others. Celebrity chefs He Jiansheng from Shunde, Guangdong, and award-winning Taiwanese baker Wu Pao-chun, who will participate in the Hong Kong Wine & Dine Festival for the first time, will lead cooking demonstrations and seminars. Source- Travel daily

Flight Centre Travel Group’s (FCTG) flagship division, FCM Meetings & Events (FCM M&E), which has long been a leader in the industry, has announced a global expansion of the company. Simone Seiler, an expert in the field, will take on the position of global general manager to oversee the expansion’s lofty goals and unite all of the M&E businesses around the world.  Seiler is a seasoned travel industry executive with over 20 years of experience who is enthusiastic about the business events industry. As the global leader assisting in-market business leaders, Seiler brings her global perspective and local understanding to dozens of nations and partner networks.   According to a recent white paper* by FCM M&E, the MICE market size in terms of revenue is expected to increase at a compound annual growth rate of 6.6 percent from 2022 to 2030 to reach USD1563.3 billion by 2030. Events, event travel, and meetings are driving the business travel recovery globally.    “We believe there is a global opportunity for disruption in the meetings, events, and event travel areas. With this investment, we’re in a good position to take advantage of the exponentially increasing demand for high-quality, customized event experiences, said Seiler.   With recent research showing conferences and events as one of the top two reasons for travel among SME owners and decision-makers, it is evident that the desire for in-person connection is continuing to rise. The enthusiasm and participation we are witnessing are really promising, and this is something that has been and still is felt on a worldwide scale.  We have a brilliant and diversified FCM M&E leadership team in important markets throughout the world, and they are truly excited about the chance to improve our MICE offering for both potential and current clients. The announcement marks an important turning point for FCM M&E, a company that already has a substantial presence in numerous nations on several continents. The company is dedicated to giving its clients distinctive and memorable experiences while adhering to the larger FCTG “glocal” philosophy.  The size of the global MICE market is particularly fascinating, and Seiler stated, “We believe we have a great chance to grow and position ourselves as the travel management firm of choice for meetings, events, and event travel.   “Demand for in-person meetings is increasing at a consistent yearly growth rate of 12% year over year, which means we have some interesting opportunities ahead of us. “We’re excited to start this new chapter for FCM M&E, and with an incredibly talented team worldwide, I’m very confident we can accomplish our challenging objectives.”  The M&E division, according to Marcus Eklund, managing director of FCM worldwide, is the industry sector’s not-so-secret crown gem, and its increase reflects the rise in worldwide in-person demand. “FCM is a company that is proudly global, with a footprint in more than 100 countries around the world, but we stay true to our mantra of our ‘glocal’ approach where we have industry experts leading their own regional teams to cater for different cultural requirements,” said Eklund. “The M&E industry has been booming for the past 18 months, and there is tremendous room for expansion. We couldn’t be in a better position to take advantage of industries that are yearning to resume face-to-face interaction thanks to our cutting-edge technology and decades of combined industry knowledge within our teams. “According to recent GBTA* study, more than eight out of ten CEOs prefer in-person meetings to virtual contact, and we have clearly noticed this trend recently. “I’d also like to extend my congratulations to Simone, who has long been an integral part of our M&E business. Her appointment is the ideal illustration of the “Brightness of Future” that FCTG provides to its employees.” FCM Meetings & Events is dedicated to expanding both its local and global reach in this industry. The company intends to concentrate on three key areas, including the creation of novel technological solutions and investing in more expertise.   Meetings: Offer several different meeting services, including as venue sourcing, managed meetings, fundamental planning, and on-site assistance.  Event travel: Provide group travel services, including lodging, transfers, and team-building exercises.  Complete event management services, including planning, strategies, implementation, and delivery, are offered.  Source- Travel daily

In a keynote address on September 27, the Chair of the UK Civil Aviation Authority will assert that aviation is on the verge of the next revolution.  In order to assist the safe development and implementation of sustainable fuels, drones, and new types of aircraft, which are expected to play a large role in UK aviation, the regulator is collaborating with the aviation and aerospace sector as well as the government.  At the Global Urban & Advanced Air Summit Asia in Singapore on September 27, Sir Stephen Hillier, Chair of the UK Civil Aviation Authority, will speak in a keynote session about how the regulator is facilitating innovative technology.  UK Civil Aviation Authority Chair Sir Stephen Hillier said:  “The next, and maybe biggest, revolution in aviation since the development of the jet engine is just around the corner. Radically new vehicle designs have the potential to transform how people travel across cities, enhance available transportation options, and support a more sustainable aviation ecosystem.  As the UK’s regulatory body for aviation and aerospace, we play a crucial part in fostering innovation and technical advancements while putting a priority on the safety of those who fly and those on the ground below.  “We continue to work with other member states and regulators to take on that enormous challenge of regulating for the future in a collaborative way.”  Electric vertical takeoff and landing (eVTOL) aircraft, also known as air taxis, are one of these emerging technologies. Electric vertical takeoff and landing (eVTOL) aircraft have the potential to offer more effective and sustainable ways to travel between cities and airports. They are designed to land and take off like helicopters but are powered by electricity.  The UK Civil Aviation Authority issued its initial airworthiness certification requirements for VTOL aircraft earlier this year, which will assist standardize a method for eVTOL aircraft safety certification and speed up their development.  The UK Civil Aviation Authority is now in contact with a number of manufacturers. After acquiring a test authorization from the regulator, Vertical Aerospace became the first eVTOL business in the UK to fly last year. It also acquired a Design Organizational Approval earlier this year, allowing it to move the development of a four passenger eVTOL vehicle forward.  Additionally, the regulator has been creating guidelines for the sector to promote and inform development.  It released guidelines in July 2023 on how the eVTOL business may follow crucial consumer concepts, emphasizing how crucial it is for new aircraft to be completely accessible and understood for passengers. In the same month, guidelines on the use of eVTOL aircraft at vertiports and aerodromes were also released. It outlines important factors for how facilities, which are frequently found in cities, could securely accept these cars.  The use of drones to deliver goods and fly farther and out of an operator’s line of sight may alter as they get more advanced. Infrastructure inspections may also change.  The authority laid out the potential for routine Beyond Visual Line of Sight (BVLOS) flight last year and has given the go-ahead for trials.  Recent demonstration trials including making urgent medical deliveries for the NHS were funded by it on behalf of Apian and Skyports. Through quicker sample processing and delivery of crucial chemotherapeutic medications, the trials enhanced patient experiences and sped up diagnosis times.  The regulator is working with business and the government to reduce emissions in aviation as well. It is looking into alternative fuel sources and encouraging the government to pursue its net zero goals.  This year, test flights have been conducted by ZeroAvia, a firm developing hydrogen-electric engines, with permission from the UK Civil Aviation Authority. Source- Travel daily

Rod Munro has been promoted to the position of Managing Director of Operations for Australia and New Zealand by BWH Hotels, a leading worldwide hotel brand. Munro will be responsible for driving BWH Hotels into a new age of expansion and success while reporting to Vice President, International Operations for Asia Pacific, Olivier Berrivin. Munro has a plethora of expertise and a successful track record in managing and operating hotels. Munro’s leadership of the Australian team and assistance with the expanding pipeline of new and existing hotels will be crucial. He is moving from Brisbane to Sydney, where he will start working at BWH Hotels in October.   “I’m excited to apply my experience to such a respected global brand,” said Munro of his decision to join the company at a time of industry expansion. “I am looking forward to the distinctive prospects that BWH Hotels’ expanding portfolio will bring to the market as the hospitality and tourist sectors continue to evolve on a worldwide scale. I’m excited to help the brand become more well-known by providing genuine and unique hospitality experiences.  BWH Hotels Australasia is expanding quickly, thus Berrivin exclaimed, “We are thrilled for Rod to continue this momentum in the region.” He has a unique perspective for this position and the capacity to manage this team thanks to his knowledge of the business and experience in a variety of operations roles. Munro has over 20 years of experience in international hospitality operations. He most recently worked for Stamford Hotels & Resorts as Vice President of Operations for Australasia, where he was in charge of seven luxury hotels with about 2,500 rooms and residential assets. He served in a variety of operational management positions with Accor for more than 15 years prior to his current job, including Area General Manager and COO of Hospitality Services for Pullman Bangkok Grande Sukhumvit and Area General Manager and General Manager for Novotel Bangkok Ploenchit.  Despite managing operations in Australia and New Zealand, Ron Pohl, president of international operations, said of Rod, “He brings a global perspective to everything he does.” He is the ideal candidate for this position because of his strategic vision and compatibility with our company’s principles. Source- Travel daily

 The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) has launched the global campaign “Can’t Wait to Winter” under the destination brand Experience Abu Dhabi, promising an amazing experience with back-to-back events that cater to all interests – paired with the ideal weather. Whether you enjoy culture, sports, fine dining, extreme activities, or music, Abu Dhabi has put together a winter lineup that will have you looking forward to the colder months. Prepare to experience the enticing ‘Can’t Wait to Winter’ mood. The Chinese-American actress Liu Yifei, the Indian super star Ranveer Singh, and the renowned Gulf comedic team of Dawood Hussein and Hasan Al Ballam share their jam-packed itineraries bursting with culture, adventure, relaxation, culinary delights, and shopping in Abu Dhabi in the documentary “Can’t Wait to Winter.” The winter season is packed with exciting events on the Abu Dhabi Calendar, including the return of the NBA Abu Dhabi Games, Formula 1 Abu Dhabi Grand Prix, UFC Showdown Week, Hyperound K-Fest music festival, concerts by pop singers Robbie Williams and Arijit Singh, and productions of Hamilton and Disney on Ice. A range of adrenaline-filled days to enjoy include desert dune bashing, quad biking, indoor adventure hubs like CLYMB, Circuit X, and Adrenark, Snow Abu Dhabi, and the recently built SeaWorld Abu Dhabi. This winter promises excitement for thrill seekers and families alike. If you’re seeking for inspiration, you can explore Emirati legacy at Qasr Al Hosn and House of Artisans, immerse yourself in art and culture at the famous Louvre Abu Dhabi, or experience the essence of Abu Dhabi at Qasr Al Watan, where tradition and knowledge meet. Saadiyat Beach Club or one of Abu Dhabi’s numerous beautiful beaches are great places for anyone seeking tranquility and leisure to decompress. Enjoy a private vacation to Nurai Island for a little more peace and quiet or kayak through the mangroves at sunrise. Source- Travel daily

As the summer months come to an end, the travel season at Eurowings continues: for anyone who still has a few vacation days left in the winter of 2023–2024, Germany’s largest airline is offering a varied portfolio that includes fascinating winter landscapes in Scandinavia, sunny locations far from Europe, and exciting metropolises. In particular, Eurowings is increasing its flights to the increasingly well-liked green features in northern Europe. Whether in Troms, Norway, Rovaniemi, Finland’s Lapland, or Kuusamo, Finland, these locations are drawing an increasing number of outdoorsy travelers, winter sports fans, and nature lovers. A total of 105 locations are included in the winter flight schedule, including brand-new attractions like Dubai and Tel Aviv. You may book every route right now. The updated German routes BER: In the winter of 2023–2024, the airport in Berlin will serve five new cities: Dubai, Tbilisi, the capital of Georgia, Rovaniemi in Lapland, Troms, and Innsbruck, Austria. Gothenburg, Helsinki, and Copenhagen are three of Northern Europe’s most beautiful cities, and Málaga, a Spanish seaside city, are now all reachable from Berlin with Eurowings in the winter (expanded from the summer flight schedule). DUS:In the upcoming winter, Eurowings will offer flights from the North Rhine-Westphalia state capital to Tel Aviv and the two Finnish cities of Ivalo and Kuusamo. Yerevan in Armenia is now reachable in the winter from Düsseldorf. HAM:A new destination is now available from Hamburg: Troms, a popular winter resort in Norway. HAJ:There are now flights from Hanover, one of Eurowings’ two new domestic bases in Germany, to Hurghada in Egypt as well as Gran Canaria and Tenerife in the Canary Islands. CGN:Starting today, Eurowings will also offer winter flights to Edinburgh, the ancient capital of Scotland, from the cathedral city on the Rhine. NUE: Eurowings is extending its winter flight schedule from Nuremberg, the second new German hub, to include links to Gran Canaria and the Egyptian destinations of Hurghada and Marsa Alam. STR:From Baden-Württemberg’s state capital, the airline will fly to one brand-new, warm location: Dubai. Bucharest (Romania) and Tirana (Albania) are now accessible with Eurowings from Stuttgart throughout the winter. new links from the European bases of Eurowings Berlin, Hamburg, Hurghada, Gran Canaria, and Tenerife are all brand-new from Graz. Agadir and Geneva are fresh from Prague. Amsterdam and Marsa Alam are brand-new from Salzburg. Stuttgart and Beirut in Lebanon are recent arrivals from Stockholm. Source- Travel daily

Centara Hotels & Resorts is thrilled to present a selection of alluring exclusive offers and benefits designed just for The 1 Members via the The 1 platform. These exclusive offers cover a range of activities, including scrumptious dining choices, hotel stays, soothing spa treatments, and more as part of Centara’s continued commitment to improve the client experience.  There are two main categories for these privileges: “Free” and “Points.” While the “Points” category specifies the quantity of The 1 points needed to unlock a certain perk, the “Free” category provides immediate access to the benefit without the requirement for any point redemption. The benefits are conveniently saved in the “Coupons” area of The 1 APP after being redeemed for usage at the relevant Centara property. When customers visit Central department shops, Central shopping centers, and The 1’s partners, they may quickly accrue points and exchange them for fun incentives. The 1 APP makes sure that members are pampered with a variety of special deals from Centara Hotels & Resorts through its website, including a sumptuous international and seafood buffet on Fridays, Saturdays, and Sundays at Centara Grand at Central Plaza Ladprao Bangkok for only 10,990 points, a relaxing 30-minute Neck & Shoulder massage at Cenvaree Spa at Centara Udon for 1,000 points, or a tranquil getaway to COSI Samui Chaweng Beach Source- Travel daily

A £90 million refinancing deal has been concluded by Travelex, a market leader in the field of international travel money services. This arrangement will support the company’s further growth. The £90 million facility has a five-year term. It will be used to pay off the current £50 million term loan facility, redeem £12 million in New Money Notes and stapled equity, and provide capital for company investment. While its wholesale banknotes business serves central banks and significant financial institutions around the world, Travelex’s card and cash-based retail business operates more than 1,100 bureaux and 900 ATMs in over 20 countries. Travel demand, especially in emerging markets, is now 88.2% of pre-Covid levels, and Travelex is working to increase investment in both its digital transformation and future product innovation. Travelex is also working to expand its retail offering and forge new wholesale relationships. Travelex has recently introduced a number of new products, including the retail FX industry’s first ATM click-and-collect product and a new automated currency kiosk at Heathrow, in addition to expanding its pre-paid Travel Money Card in the UK and Japan. Over the past 18 months, Travelex has also opened dozens of new bureaux and created thousands of new jobs. The CEO of Travelex, Richard Wazacz, said: “We are pleased to have received this finance, which is a significant vote of confidence in both the business and our future goals. This finance will allow Travelex to take advantage of the numerous opportunities this presents given that the travel industry has recovered and market indicators indicate to strong growth for the foreseeable future. “The refinancing marks a significant point in the Group’s turnaround following the pandemic,” said Mike Rees, chairman of Travelex. The funding offers security and the freedom to focus on growth in a changing industry. Travelex received financial advice from PwC. Source- Travel daily

Don’t pass up the opportunity to play on the recently unveiled NSRCC Kranji 18-Hole Golf Course or benefit from the exclusive membership discounts created to strengthen family ties. We are excited to announce an upcoming Open House at National Service Resort & Country Club (NSRCC), Singapore’s top resort for golf fans and families looking for a peaceful getaway. scheduled for October 7th and 8th, 2023, at 10 Changi Coast Walk, from 10AM to 6PM. Two new products will be introduced at this event, appealing to both golf enthusiasts and those looking for quality family time amidst stunning natural surroundings. These products are designed to enrich the golf and country club experience. Discover Amazing Savings at the NSRCC Open House Event NSRCC offers a warm invitation to its Open House event at NSRCC Changi in honor of these appealing offerings. This occasion offers a chance to learn more about the Father & Son Campaign as well as an entertaining introduction to the club’s amenities. In addition to this exceptional offer, NSRCC is happy to offer members-only buddy discounts, a unique referral program, and a gift of a $300 eyeglass voucher upon successful registration. Seize the chance to take full use of the privileges, which include discounted golf lesson packages, priority golf reservations, preferred prices for all facilities and events, and a variety of other advantages. Come meet other golf lovers, make new friends, and enjoy the spirit of camaraderie that makes NSRCC a really special neighborhood. The Father & Son Campaign: Golf and Family Bonding at Their Finest NSRCC is proud to launch the Father & Son Campaign, a committed initiative focused at fostering and bolstering the relationships between fathers and sons, in recognition of the importance of family ties. As a result of this campaign, fathers who are already NSRCC members now have the extraordinary chance to suggest that their sons join at a whopping 50% discount. This offer goes even further by enabling fathers and sons to begin a shared membership adventure with the benefit of the sons receiving the same special pricing. This offer is only available to full-time National Servicemen (NSFs) or Operationally-Ready NSmen, and it extends an alluring invitation to play golf while strengthening family ties. A Fun-Filled Extravaganza for Everyone Experience the magic of NSRCC’s Open House, a day packed with treats suitable for people of all ages. Enjoy nostalgic delicacies like ice cream, hot dog buns, various pancakes, and popcorn chicken in the vicinity of the membership signup booth. The pleasure keeps coming with a wide variety of games, including mini golf courses set up by our golf academies, hoops on the sports courts, bowling, and many other enjoyable pursuits in our function area. The recently finished 18-hole golf course at NSRCC Kranji The freshly finished NSRCC Kranji 18-hole Gary Player golf course, which measures an incredible 6400 meters and was created to deliver a world-class golfing experience amidst stunning scenery, is one of the highlights of the NSRCC’s portfolio. Huge tracts of unspoiled swampland have been carefully preserved while new ponds, marshes, and waterbodies have been added and seamlessly woven into the design of the course to preserve the integrity of the natural environment. NSRCC Kranji is a location that combines the thrill of the game with the serenity of nature’s embrace, whether you’re an experienced golfer going for a hole-in-one or a beginning enthusiast looking to improve your skills. National Service Country Club Resort Set out on a riveting journey where superb golfing meets emotional familial ties. The eagerly awaited open house event is presented by NSRCC Singapore with excitement. Don’t pass up the chance to play on the recently unveiled NSRCC Kranji 18-Hole golf course or take advantage of special membership deals designed to foster closer family ties. For additional information, continue reading. Source- Travel daily