Gamblers rescue Hilton results
Hilton Group has managed to report better than expected results – mainly because its Ladbrokes betting business offset the poor performance of its hotels division.
First half pre-tax profits for the group fell 15% to £110.5m in the period to the end of June.
But in the hotels division profits fell 42.6% to £56.1m due to the combined effects of the SARS virus, the Iraq conflict and continued economic uncertainty.
Chief executive David Michels said: “The complementary nature of Hilton and Ladbrokes, two of the world’s best known brands is part of the strength of Hilton Group.
“Like all businesses they move through cycles. A few years ago Hilton Hotels were performing better than Ladbrokes, today the opposite is true. Over the past six months the already frayed confidence of travellers was undermined further by the Iraq War and SARS. In these extreme circumstances the hotel sector takes the brunt of the pain.”
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Phocuswright reveals the world's largest travel markets in volume in 2025
Cyclone in Sri Lanka had limited effect on tourism in contrary to media reports
Higher departure tax and visa cost, e-arrival card: Japan unleashes the fiscal weapon against tourists
In Italy, the Meloni government congratulates itself for its tourism achievements
Singapore to forbid entry to undesirable travelers with new no-boarding directive