Chinese tourists contribute $190m revenues in Ethiopia’s total revenue

Devdiscourse | April 05, 2019

Ethiopia recorded USD 190 million in revenue from 50,626 Chinese tourists that visited the country in 2018, an Ethiopian official said on Wednesday, April 3. China is the third largest source of tourists visiting Ethiopia, only after the US and Britain.The number of Chinese touristsvisiting Ethiopia in 2018 represented a surge of 11.7 percent from that of the previous year, at 45,307. Ethiopian Ministry of Culture and Tourism (MoCT) Public and International Relations Director Gezahegn Abate told Xinhua that better food and accommodation facilities will likely attract more Chinese visitors."MoCT is encouraging Chinese investment in Ethiopia's hospitality sector, with a view to dramatically increase the number of Chinese tourists," Abate said. "Ethiopia is also implementing incentives for entrepreneurs involved in the tourism and hospitality industry, including duty-free arrangements for construction materials," he said.

Spotlight

Austria is a country that is as well known for its scenic beauty as it is for its cultural activities. Situated in the Alps, it is a very popular place with skiers and hikers, but it is also a country that gave the world an important musical heritage, ranging from the classical composer Mozart to the Strauss waltzes and the Von Trapp family whose story was told in The Sound of Music

Spotlight

Austria is a country that is as well known for its scenic beauty as it is for its cultural activities. Situated in the Alps, it is a very popular place with skiers and hikers, but it is also a country that gave the world an important musical heritage, ranging from the classical composer Mozart to the Strauss waltzes and the Von Trapp family whose story was told in The Sound of Music

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TRAVEL TECHNOLOGY

EButler and Eddy Travels Launch A New Travel Service, In Time For The Summer Vacations

EButler, Eddy Travels | May 04, 2021

Arranging the principal post-pandemic excursion has recently got a ton simpler for the inhabitants of Qatar, as EButler today dispatched another organization with Eddy Travels man-made brainpower (AI) travel associate. In a basic talk, the completely mechanized AI aide is accessible every minute of every day to help EButler's clients look for the best aircraft and inn bargains globally. EButler, a mainstream online attendant stage in Qatar, interfaces clients to many the best specialist organizations covering each part of their lives. Beginning today, EButler's individuals can look for the best flight and inn offers by talking with an AI travel colleague created by Eddy Travels, consistently incorporated into Ebutler portable applications. "At EButler, we will likely make an unbelievably advantageous encounter for our clients each time they need something in their life. As we endeavor to increase present expectations, we are continually searching for top-notch organizations. We are incredibly eager to collaborate with Eddy Travels, who offers a novel encounter not found elsewhere on the planet," noted Omar Ashour, Co-Founder, and CEO at EButler. "We are pleased to dispatch a weighty association with EButler, the first in Qatar for Eddy Travels. EButler's team accomplished astounding work coordinating the Eddy Travels AI associate into their application. Therefore, Qatari explorers can begin arranging their next merited occasions by communicating something specific," said Edmundas Balikonis, Co-Founder and CEO at Eddy Travels. EButler's application is accessible on Android or iOS gadgets. Inside the application, individuals will track down another "Travel" class that will open a talk window with the Eddy Travels AI associate. Clients simply need to send an instant message to the advanced travel associate, and it will begin looking for flights or convenience. Housing alternatives are given in association with Booking.com, the world's most extensive inn booking framework. The new association project is upheld by Kiwi.com, the imaginative travel-tech organization, which controls more than 100 million inquiries consistently. "EButler and Eddy Travel teams worked effectively assembling the AI-controlled travel arranging administration that is advantageous and enjoyable to utilize. We are pleased to be suppliers of flight and ground transportation stock, including Virtual Interlining. Together we'll make it simple for the Qatar explorers to consistently track down their ideal agenda, at the most minimal cost." Oliver Dlouhy, CEO, and Co-originator at Kiwi

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HOSPITALITY TRENDS

Noble Announces Pioneering Strategic Partnership with Host Hotels & Resorts

Noble Investment Group | February 19, 2022

Noble Investment Group ("Noble"), a leading real estate investment management firm specializing in the upscale U.S. lodging sector, and Host Hotels & Resorts, Inc. ("Host"), a member of the S&P 500, the largest lodging real estate investment trust, and one of the most respected investors in luxury and upper-upscale hotels in the world, have formed a transformational strategic partnership to cultivate and expand innovative travel, leisure, and hospitality opportunities within Noble's real estate investment management and fund sponsorship platform.The partnership will combine Noble's operational expertise and development acumen with Host's scale, market insights, data analytics, and breadth of resources to cultivate and source differentiated investment strategies including property technology solutions, development, and alternative lodging. As announced by Host, they are making a $150.0 million capital commitment as a limited partner in an existing Noble investment vehicle and will provide Noble with exclusive first-look at select-service and extended-stay hotel opportunities sourced through Host's channels. Host is also making a minority investment in Noble's fee-based asset management business, independent from the Noble team's investment interests in their existing funds. "As we continue to expand our institutional investment management platform, this strategic partnership further augments Noble's ability to develop, source, and execute innovative growth strategies in travel, leisure, and hospitality," -Mit Shah, Noble's Chief Executive Officer. We are incredibly excited to invest with Noble, a leading private hospitality investment manager. In addition to operating through multiple cycles over three decades, we were particularly attracted to Noble's proven expertise in sourcing and executing scalable select-service and extended-stay hotel investment opportunities," said James F. Risoleo, Host President and Chief Executive Officer. "Host will benefit from both chain scale diversification and the ability to incubate and invest in future lodging-adjacent strategies. Both Host and Noble are deeply committed to corporate responsibility and operating with high business standards, principles, and integrity. Ranked among the world's most sustainable companies in S&P Global's Sustainability Yearbook, named one of America's Most Responsible Companies by Newsweek, and a recognized leader by Dow Jones Sustainability Indices (DJSI World and DJSI North America) and CDP, Host is dedicated to investing in industry leading ESG best practices and strategies. The majority of the Noble organization is comprised of women and minority leaders. Host is expected to provide thought leadership to Noble's ongoing environmental, social, and governance strategies. Noble Investment Group Founded in 1993, Noble is a leading real estate investment manager with a diverse team specializing in the upscale U.S. lodging sector. Through its institutional real estate funds, Noble has invested nearly $5 billion in communities throughout the country, adding value across cycles and creating thousands of jobs. As a signatory to the UNPRI. the CEO Action for Diversity & Inclusion, and a fiduciary to foremost pensions plans, endowments, and foundations, Noble's endeavors help to preserve and grow its limited partners' capital, which assists in providing retirement benefits for our country's teachers, law enforcement, firefighters, other pensioners, and financial resources for students to attend college. For more information, please visit www.nobleinvestment.com Host Hotels & Resorts Host Hotels & Resorts, Inc. is an S&P 500 company and is the largest lodging real estate investment trust and one of the largest owners of luxury and upper-upscale hotels. The Company currently owns 75 properties in the United States and five properties internationally, totaling approximately 44,400 rooms. The Company also holds non-controlling interests in six domestic and one international joint venture.

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HOSPITALITY TRENDS

Certares Acquires The Embassy Suites Atlanta Midtown In Partnership With Highlands Investments And Monomoy Property Ventures

Certares | October 26, 2021

Certares Management LLC a leading investment specialist dedicated to the travel, tourism and hospitality sectors (together with its affiliates, "Certares"), in partnership with Highlands Investments LLC ("Highlands") and Monomoy Property Ventures LLC ("MPV"), today announced the acquisition of the 181 key, new-build Embassy Suites Atlanta Midtown located at 290 17th Street NW in Midtown Atlanta, Georgia. The deal also included the acquisition of an adjacent land parcel and an income-producing parking component.Located in the Atlantic Station area of Midtown, the all-suites property features a lobby bar, restaurant, large fitness area and pool, along with 2,600 square feet of meeting space. The rooms average approximately 500 square feet, and each has a private kitchenette and separate living room area. The hotel sits adjacent to Microsoft's new eastern U.S. headquarters and near Georgia Tech's main Atlanta campus. HEI Hotels & Resorts ("HEI"), a leading hospitality management company that owns and/or operates 84 hotels and resorts throughout the United States, has been selected to operate the property. "We are thrilled to acquire this brand-new asset in the heart of Atlantic Station. Midtown Atlanta is the city's preeminent submarket for technology and healthcare talent recruitment and is seeing an array of corporate relocations and expansions. We look forward to working closely with Highlands, MPV and HEI to ensure the property delivers a great experience to its guests." -Nolan Hecht, Senior Managing Director & Head of Real Estate at Certares Jordan Kary, Founder and Principal of Highlands, added, "We are big believers in both Atlanta and, more specifically, the Midtown Atlanta submarket, and we are excited to acquire this high-quality hotel together with Certares, MPV and HEI. The property's location together with its all-suites rooms and amenity offerings makes the asset well-positioned for outsized growth. We look forward to continuing to identify opportunities to acquire great pieces of real estate at attractive values and working to ensure best-in-class operations and oversight." "High-quality real estate structured off-market from a motivated seller, in an excellent location within a growth MSA, the Embassy Suites Atlanta Midtown is illustrative of the types of investments MPV is successfully targeting as we establish our business,We look forward to building on a close relationship with Certares, Highlands, HEI and Hilton as we execute on our business plan at this asset, and to participating in the substantial ongoing growth in the midtown Atlanta business community." -Kevin Vaughan, Founder of MPV. About Certares Management LLC Established in 2012, Certares focuses on direct investments in proprietary transactions, leveraging deep sector experience in the travel and hospitality industries, and with a consistent emphasis on partnership with management teams to drive growth. Certares brings together a team with decades of both operational and investment experience in private equity, travel, tourism, hospitality and travel-related business and consumer services. For more information, please visit www.certares.com. About Highlands Investments LLC Founded in 2020, Highlands Investments LLC is a New York-based real estate investment and asset management company that employs a value approach to investing and targets select product types and geographic regions across the United States and Canada. Prompted by the shifting dynamics in the global real estate industry, the company's primary objectives include sourcing and negotiating target driven acquisition opportunities and managing investments throughout their lifecycle. Highlands focuses on identifying opportunistic acquisitions at attractive values with the potential to enhance returns at the asset level through operational improvements and through long-term economic recovery. To learn more, visit https://www.highlandsinv.com/. About Monomoy Property Ventures LLC Monomoy Property Ventures (MPV) is a New York-based real estate investment, development and management firm with an extensive track record sourcing, acquiring and redeveloping lodging assets. MPV purchases land parcels and existing buildings in enduring, high-barrier locations in select resort and urban markets in the United States. Through physical and operational repositioning or ground-up construction, MPV seeks to improve buildings, destinations, neighborhoods and the built environment while providing attractive financial returns to our company and investment partners. Through current and prior ventures, Principals of MPV have executed on over $1.4 billion of lodging investments across 23 hotels. For further information, please visit www.MonomoyPropertyVentures.com. About HEI Hotels & Resorts HEI Hotels & Resorts, headquartered in Norwalk, Conn., is a leading hospitality investment and management company that owns and/or operates over 80 luxury, upper-upscale and upscale independent and branded hotels and resorts throughout the United States. HEI's branding partners include Marriott, Hilton, Hyatt, IHG and Accor. Taking a holistic approach to creating value for its investors and employees, HEI sets the highest standards across all aspects of hotel management and operation and focuses on central principles of excellence and continuous improvement. HEI prides itself on some of the highest employee satisfaction scores in the hospitality industry, fuels local economic prosperity by investing in communities and is committed to environmental stewardship and sustainability. To learn more about HEI, please visit www.heihotels.com

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