NEW YORK - The boom in lodging and casino-resort development has clearly waned, and the dry spell is likely to last for years as the capital-intensive industries grapple with the credit crisis hangover.
NEW YORK - Political outrage over the use of public money on corporate perks is scaring many companies away from legitimate travel spending and could -- if unchecked -- cost thousands of jobs in the U.S. hospitality industry, according to hotel, casino and airline leaders.
NEW YORK - Choice Hotels International Inc is on track to meet its target for a 3 percent increase in the number of its franchised hotels this year, the company's chief financial officer said on Wednesday.
NEW YORK - Cash-strapped travelers should be able to find bargains at destinations that normally cater to business travelers and by taking advantage of foreign exchange rates, online travel agents advise.
NEW YORK - Las Vegas casino legend Sheldon Adelson launched a quest for America's most boring city on Tuesday in a comeback to President Barack Obama's criticism of bankers who hold meetings in the famous gaming capital. | Video
NEW YORK - U.S. airlines are seeing a steep decline in travel demand -- especially for business trips -- as the recession grinds on, and carriers are braced for persistent weak demand, executives at two major carriers said on Tuesday.
NEW YORK - US Airways Group has little room for more downsizing because it is near the minimum capacity required by its pilots' contract, the airline's chief executive said on Tuesday.
NEW YORK - Shares and bonds of many casino operators are trading as if the companies are close to bankruptcy, but most have options to improve liquidity and will pull through the current recession, Deutsche Bank analyst Bill Lerner said on Tuesday.
NEW YORK - This year is shaping up to be a "lost year" for group travel, not helped by politicians who have demonized company travel spending, the chief executive of online travel agency Expedia Inc said on Tuesday.
NEW YORK - Casino operator Las Vegas Sands expects to avoid a debt default through a combination of cost cuts, the sale of two retail malls and increased business in Macau, Chairman and Chief Executive Sheldon Adelson said on Tuesday.
NEW YORK - The head of Wyndham Worldwide Corp , the world's biggest timeshare operator and franchiser of economy and mid-tier hotels, reckons the company is better placed to tackle the recession than rivals in the harder-hit business or luxury market.
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