Hilton group hotels suffer 31% profits slump
Hotels in the Hilton group suffered a £65 million downturn in profits last year – with properties in European capitals particularly badly hit. The company blamed the Iraq war, SARS, the continued threat of terrorism and economic decline on the 31% slump from a profit of £212 million in 2002 to £146 million last year. “We are not alone in facing tough times, but with strong brands and strong management we are better equipped than most to cope,” said chief executive David Michels. “Following travel trends, we focused marketing locally rather than internationally and as a result occupancy held up surprisingly well. Rate, however, was challenging and we have faced cost pressures from insurance, energy costs and, in some cases, union-led wage increases.” Looking forward, Mr Michels gave a cautious outlook, saying: “There are some signs of gradual recovery emerging in the hotel sector but we need to see an upward trend in our key markets for some months to restore confidence and strengthen rates.” He said that technology was playing an increasing role in the hotel industry. As a result, Hilton has opened a series of local language websites focussing on its four largest source markets. “By driving bookings through our websites, we give customers easy access to the full range of Hilton brands and guaranteed best room rates,” added Mr Michels. The company opened 14 hotels in 2003 and plans a further 37 in the next two years. Report by Phil Davies
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 
France prepares for a massive strike across all transports on September 18
Turkish tourism stalls due to soaring prices for accommodation and food
CCS Insight: eSIMs ready to take the travel world by storm
Germany new European Entry/Exit System limited to a single airport on October 12, 2025
Airlines suspend Madagascar services following unrest and army revolt