p2 Contents feb6 4/2/09 21:31 Page 2
Nervous regulators
threaten weak firms
news
by tightening screw
IF THE Inland Revenue can react to the credit
crunch by giving people more time to pay their
taxes, why are travel industry regulators unable to
show such leniency?
Indeed, it’s not just that they aren’t cutting
struggling companies some slack. They actually
appear to be tightening the screws even further,
putting many firms at serious risk.
this week
The world is a changed place to what it was six
months ago, with letters being fired out en masse
– even to household names with high turnovers –
asking for larger bonds to be supplied.
Some, who’ve never had to bond before, are being
told their licence will be revoked if they don’t come
up with bonds, often costing several million.
I’m also told they are being given impossible
deadlines to put such arrangements in place.
And this, of course, is happening at a time when
Hotels blow hot and cold
the bonding market has all but collapsed. The recent spate of hotel insolvencies could be just the tip of the iceberg,
And who was to blame for that? Answer: the PricewaterhouseCoopers has warned. But one UK property celebrating this
CAA – when it decided only the weakest firms should week was Liverpool’s Beatles-themed Hard Days Night Hotel, which celebrated
continue to bond. It’s a bit rich! its first birthday. Pictured is manager Michael Dewey. p16
But whether it’s from the CAA, Iata or the credit
card companies, any extra pressure now could be Air. views to compile lists of the best
the last nail in the coffin for some businesses. Zoom to fly again? p06 and worst cruise lines and ships as
So why are the regulators making such demands? A Canadian financier is planning the online agency aims to become
It doesn’t take much imagination to conclude they to revive the failed transatlantic the cruise’s industry “TripAdvisor”.
are using this as an opportunity to cover their backs carrier Zoom Airlines and pay
and reduce their exposure. agents commission. Ace preview.
Many in the industry have always believed that, Group bookings p16
at “Just a Quid”, the new APC was never enough to Campaign. Group bookings will be a key focus
replenish the Air Travel Trust Fund that backs Atol. More fight for Fair Fares p09 of June’s UK Cruise Convention.
With so many companies underperforming, The Co-operative Travel, Aito and Find out more in our Ace preview.
it appears regulators would rather push Somak Holidays have joined TTG’s
them to the wall now than later when they Fair Fares campaign to reform Air Luxury.
will have thousands more forward bookings. Passenger Duty. Independence say p26
One senior observer told me this was all Luxury operator ITC claimed it had
being done ahead of a definite hike in APC, to Operator. an edge over rivals as one of the
£2.50 initially, and possibly £5 eventually. Solo’s seeks agent allies p10 few independents left in the sector.
The first phase of the hike is, I’m led Single travellers specialist Solo’s
to believe, to take place following a Holidays is to start selling through Hotels.
consultation process and brought the trade – after 25 years of Going down the YouTube p30
in after the September Atol selling direct. Rezidor Park Inn and Country Inn
renewals. Hotels boss Jacques Dubois on
Whether absorbed or passed New venture. why he wants his guests to put his
on to the consumer, paying £5 per Cheevers branches out p12 hotels’ failings on YouTube.
customer to protect them against Teletext Holidays managing director
company failure will be a bitter pill Matt Cheevers explains why he is SECTORS.
to swallow. quitting to go it alone. Cruise p22
Operators p26
Cruise. Business travel p28
Lucy Huxley Editor Ship ratings p14 Hotels & resorts p30
Cruise.co.uk revealed its customers’ Air p32
02 06.02.2009
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76