Chinese company Yida International Investment Group will invest approximately $1 billion in a mega-resort development on Antigua, to be built on 1,600 acres previously owned by disgraced U.S. financier Allen Stanford.

TripAdvisor has announced it has finalized the acquisition of Viator, a leading resource for researching and booking destination activities around the world. Viator features more than 20,000 bookable tours and attractions and more than 600,000 reviews, photos and videos submitted by travellers.

Boeing, South African Airways (SAA) and SkyNRG announced they are collaborating to make sustainable aviation biofuel from a new type of tobacco plant. This initiative broadens cooperation between Boeing and SAA to develop renewable jet fuel in ways that support South Africa's goals for public health as well as economic and rural development.

Grupo Aeromexico S A B de C V (Aeromexico), the largest airline in Mexico, reports its operating statistics for July 2014.

Grupo Aeromexico transported 1 million 575 thousand passengers in July; a 6.8% year-on-year increase, which represents a record number of monthly transported passengers in the history of the company.

International market passenger numbers increased by 15.1 percent, while domestic market passenger numbers climbed by 3.0 percent.

The latest trade figures further validate the travel industry's essential role in revitalizing the U.S. economic recovery, reports David Huether, senior vice president for research and economics at the U.S. Travel Association.