Carlyle, the UK investment fund, has been Iberostar’s pick to sell its travel division to. Carlyle has inked an exclusive letter of intent with Spain’s Iberostar and only the final signature is missing for the British group to get a grip of the Spanish company’s business operations, currently owned by Miguel Fluxa.
The UK investment fund has reportedly shelled out over €900 million for Iberostar’s travel division that embraces the Iberojet tour operator, some 500 Iberia Travel Agencies and the Service Division. The Fluxa family will keep its reins on the hotel division, a segment that comprises more than 90 lodgings and over 58,000 rooms in 13 countries.
Strategic Hotels & Resorts, Inc. announced that it has commenced a follow-on public offering of 14,000,000 shares of its common stock.
The Company has granted the underwriters a 30-day option to purchase up to an additional 2.2 million shares of common stock at the public offering price to cover over-allotments, if any.
Kuoni Group´s 2006 booking volumes to May 14, 2006 are 11 percent above their prior-year levels, the company will announce at its Ordinary General Meeting of Shareholders in Zurich Friday.
The Board of Directors will ask the meeting to approve a reduction in the nominal value of registered shares A and B and to elect Raymond D. Webster as a new Board member.
Along with considering alternative sources of renewable energy in the face of rapidly rising oil prices, the Federation of St. Kitts and Nevis is working to make approaching international events as eco-friendly as possible.
Minister of State with responsibility for Sustainable Development, Nigel Carty, in addressing the Caribbean Renewable Energy Development (CREDP) third project Steering Committee Meeting, explained that renewable energy research and development is inextricably linked to environmental sustainability.
Buoyed by revenue increases that are exceeding even its own expectations, US Airways Group reported a first quarter profit and said it expects to post a full-year profit, too –even when accounting for merger expenses and continued high fuel costs.
The results continue to vindicate, at least for now, America West´s decision to merge with US Airways.
European travel company TUI has shared that its first-quarter loss narrowed because of a gain from the sale of TQ3 Travel Solutions.
As per the information available, in the first quarter of the year, turnover in the tourism division fell slightly from €2.52 billion to €2.51 billion as customer numbers fell from 3.9 million to 3.7 million, partly due to Easter falling in the first quarter last year.