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Uber forecasts strong second-quarter bookings despite Middle East woes ...
Uber Technologies forecast second-quarter bookings above Wall Street estimates on Wednesday on strong demand for ride-hailing and delivery services, even though the Middle East conflict weighed ...
Hotel Bookings Plunge Across Thailand as Middle East Conflict and High ...
Thailand- Hotels nationwide, spanning budget to luxury segments, are experiencing a sharp decline in forward bookings starting in May, according to the Thai Hotels Association (THA). Provinces heavily reliant on European tourists, such as Phangnga, are facing particularly severe drops of up to 50%. Thienprasit Chaiyapatranun, president of the THA, attributed the downturn primarily to the ongoing conflict in the Middle East, which has driven up jet fuel prices and airfares, deterring long-haul travelers from Europe and the Middle East. The uncertainty has led many potential visitors to adopt a “wait-and-see” approach, with cancellations reported even for peak family travel periods in July and August. In southern Thailand, a key tourism hub, the impact varies by province. Phangnga, popular with European visitors, is projected to see May occupancy rates fall to just 20-30%. Phuket is holding relatively steadier at 40-60%, while Krabi and Phangnga Islands are expected to range between 20-40%. European arrivals have declined notably: 17.5% in Phuket and 20-30% in Krabi, with particular drops from Germany and the UK. Luxury properties are not immune. May occupancy in high-end hotels is forecast at around 40%, down 3% year-on-year, especially in destinations like Samui, Phuket, and Krabi, where fewer tourists and flight crews are arriving. The northern region is also struggling, with average May occupancy at 41.2%, significantly lower than 61.5% the previous year. Factors compounding the issue include high PM2.5 air pollution levels, which have deterred both domestic and short-haul travelers even during holidays like Songkran. Some offsetting gains have emerged from Asian markets. In the South, Chinese arrivals have surged over 100% in Krabi and 9% in Phuket, while Indian and Malaysian visitors are also showing growth. However, these increases in volume have not fully compensated for the revenue loss from higher-spending European tourists, limiting hotels’ ability to raise average daily rates. The THA has warned that Q2 performance will likely be weaker than last year, with concerns extending into later quarters if the situation persists. The association has proposed several measures to the government, including delaying any new tourist entry fees, reducing energy costs, addressing PM2.5 pollution, and supporting domestic tourism stimuli to help stabilize the sector during the low season. This slowdown comes as Thailand enters its traditional low season from Ma...
Middle East Escalation Disrupts Global Ocean and Air Freight Networks
The Middle East carriers stoppage, combined with the longer and more fuel-intensive rerouting required by European and Asian airlines, is reducing effective global capacity and increasing costs to operate.
Uber Technologies, Inc. (UBER) Latest Stock News | Seeking Alpha
Uber adds hotel bookings as part of its goal to be the app for everything SA NewsWed, Apr. 29 6 Comments
