SUNx Malta Looking for Greta Thunberg’s for Travel and Tourism

SUNx Malta | August 17, 2020

SUNx Malta is working to build a “Climate Friendly Travel” future – Low-carbon: SDG-linked: Paris 1.5 trajectory. Our goal is to help companies and communities boost their Climate Resilience.
We know that Covid-19 is today’s harsh reality, but we believe that existential Climate Change will be many times worse, and that we also need to prepare smartly and thoughtfully for a Climate Neutral future, while responding to the pandemic.

Spotlight

Ireland’s leading role in driving the development of the travel industry forward has a long heritage. Learn more about the pedigree of excellence that has shaped the development of some of the world’s most innovative travel tech companies.

Spotlight

Ireland’s leading role in driving the development of the travel industry forward has a long heritage. Learn more about the pedigree of excellence that has shaped the development of some of the world’s most innovative travel tech companies.

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DESTINATION AND TOURISM

Taconic Capital Advisors and HEI Hotels & Resorts Jointly Acquire Hyatt Regency Jersey City

Taconic Capital Advisors LP and HEI Hotels & Resorts | December 05, 2022

Taconic Capital Advisors LP (“Taconic”) and HEI Hotels & Resorts (“HEI”), announced that they have jointly acquired Hyatt Regency Jersey City from affiliates of Hyatt Hotels Corporation (NYSE: H) and Veris Residential Inc. (NYSE: VRE). The property is a full-service, 351-key hotel located adjacent to Exchange Place situated on a pier extending over the Hudson River in Jersey City, NJ.In conjunction with the purchase, Taconic and HEI were successful in assuming a $100 million fixed-rate CMBS mortgage with ample remaining term. The hotel was completed in 2002 and more than $15 million in subsequent upgrades have been performed since 2010. Major enhancements to the guestrooms, food and beverage outlets and event spaces are expected to commence under the new ownership. Hyatt Regency Jersey City occupies fee simple real estate with unmatched and undisturbed views of the Manhattan Skyline. The property features well-appointed guestrooms, a state-of-the-art gym and indoor heated pool, a restaurant and lounge and 20,000 square feet of meeting space that has long served as a popular venue for corporate retreats, weddings, and social gatherings. The hotel is centrally positioned amongst 28 million SF of office space within a one-mile radius and is conveniently located near world-famous attractions, including the Statue of Liberty, Ellis Island, One World Trade and the 9/11 Memorial. “We are pleased to further our partnership with HEI and begin an exciting relationship with Hyatt. Hyatt Regency Jersey City was a compelling opportunity to acquire a world-class hotel with a strong segmentation mix and a diverse set of revenue contributors, The highly accretive assumable financing allowed us to continue our thesis for well-located urban, upscale hotels in an otherwise prohibitive financing environment.” -Andrew Lam, a Director in Taconic Capital Advisors’ Commercial Real Estate Group Hyatt Regency Jersey City is a wonderful property with a rich legacy that has greatly benefitted from Jersey City’s rapidly expanding corporate base as well as the revitalization of Hudson Yards and Lower Manhattan, said Clark Hanrattie, Partner at HEI. We are proud to team with Taconic on this important transaction and we are looking forward to making the hotel the very best it can be. The joint acquisition of Hyatt Regency Jersey City follows Taconic and HEI’s March 2022 purchase of the Westchester Marriott in Tarrytown, NY, a 15-acre property that offers 444 guestrooms and 21 event rooms for a total of 26,700 SF of conference and meeting space, including a 9,000 SF ballroom. Over the past two years, Taconic has been involved in hotel transactions throughout the capital structure, spanning over 20 properties totaling more than 5,000 keys. About Taconic Capital Advisors Taconic Capital Advisors (“Taconic”) is a global institutional investment firm that pursues an event-driven, multi-strategy investment approach designed to generate strong, risk-adjusted returns over multiple market cycles. Taconic was founded in 1999 by former Goldman Sachs partners Frank Brosens and Ken Brody. The firm has approximately $8 billion of total assets under management with offices in New York, London and Hong Kong and more than 100 employees worldwide. Taconic’s full-service commercial real estate platform invests in all asset classes and across the capital structure in both public and private markets. The strategy’s brand mandate offers flexibility to capitalize on shifting market opportunities, creating uncorrelated risk-adjusted return profiles for investors. Rooted in distressed and opportunistic investing, the team applies high-touch asset management capabilities to drive strong asset-level performance and capital market executions. Well-established relationships drive Taconic’s unique and diverse transaction sourcing channels which include local operating partners, investor partners, and a broad network of lenders, CMBC special servicers, trading desks, and brokerage houses. Taconic’s series of closed-ended real estate funds are fully discretionary and have received over $1 billion in capital commitments. Investments to date across all Taconic funds total over $3 billion of gross asset value across approximately 175 distinct transactions. About HEI Hotels & Resorts Founded in 1985, HEI is an established expert on Luxury, Upper-Upscale, and Upscale hotels in Urban, Super-Suburban, and destination Resort locations across branded, soft-branded and independent lifestyle categories. The company’s portfolio currently includes 90-plus assets, representing more than 28,000 keys across approximately 30 different capital partners. HEI continues to be one of the most active investors in, and managers of, institutional-quality hotel assets across the US.

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AIRLINES AND AIRPORTS

Delta, Joby Aviation Partner to Pioneer Home-to-Airport Transportation to Customers

Delta, | October 11, 2022

Delta Air Lines (NYSE: DAL) is once again deepening its commitment to transform the future of travel: the airline is embarking on a multi-year, multi-market commercial and operational partnership with Joby Aviation, Inc. (NYSE: JOBY), to deliver transformational, sustainable home-to-airport transportation service to Delta customers, beginning in New York and Los Angeles.As part of the first-of-its-kind arrangement, the companies will work together to integrate a Joby-operated service into Delta’s customer-facing channels, providing customers who travel with Delta through New York and Los Angeles the opportunity to reserve a seat for seamless, zero-operating-emission, short-range journeys to and from city airports when booking Delta travel. Delta has made an upfront equity investment of $60 million in Joby, with the opportunity to expand the total investment up to $200 million as the partners achieve substantive milestones on the development and delivery of the service. The partners will work together to create a differentiated, premium experience for Delta customers featuring seamless booking, simplified transit and greater time savings. This will run alongside Joby’s standard airport service in priority markets. The partnership will be mutually exclusive across the U.S. and U.K. for five years following commercial launch, with the potential to extend that period. “Delta always looks forward and embraces opportunities to lead the future, and we’ve found in Joby a partner that shares our pioneering spirit and commitment to delivering innovative, seamless experiences that are better for our customers, their journeys, and our world, This is a groundbreaking opportunity for Delta to deliver a time-saving, uniquely premium home-to-airport solution for customers in key markets we’ve been investing and innovating in for many years.” -Delta CEO Ed Bastian. Delta has long made strategic investments in unique commercial partnerships that deliver value and drive growth for individual businesses. From investments in companies such as CLEAR and Wheels Up to a worldwide network of alliance partners Delta’s partnerships have played a key role in Delta’s efforts to transform the travel experience. “We share Delta’s unwavering commitment to delivering seamless and sustainable journeys to customers Their history of innovation, along with their vast operational expertise and leadership on climate change, make them incredible partners for Joby, and it’s an honor to be working alongside them.” -Joby Founder and CEO JoeBen Bevirt. Joby’s aircraft is designed to fly fast, quiet and sustainable trips in and around cities. The aircraft has flown more than 1,000 test flights, demonstrating its range, speed, altitude and low noise profile. The company was the first eVTOL company to be granted a G-1 (Stage 4) Certification Basis for its aircraft by the FAA and recently received its Part 135 Air Carrier Certification. Delta is differentiating and amplifying the customer experience with premium products, choices and solutions across the journey,” said Allison Ausband, Delta’s E.V.P. and Chief Customer Experience Officer. “Addressing what matters most to our customers is foundational to our focus, and our work with Joby is the latest in a series of ways we’re making the experience of travel more seamless, enjoyable and wait-free. This year alone, Delta unveiled multi-billion-dollar terminal transformations at both New York’s LaGuardia Airport and Los Angeles International, further cementing its commitment to those hubs and creating a more efficient and seamless experience for customers from the moment they arrive at the airport. The airline also continues to invest in digital identity technology in these and other airports, which allows customers to move through the airport using facial matching, eliminating the need to show a boarding pass or government ID and thereby expediting their journeys. Delta also recently debuted its Parallel Reality experience at Detroit Metropolitan Airport, bringing to life a technology that was first previewed at CES in 2020. About Delta Air Lines No one better connects the world. More than 4,000 Delta Air Lines (NYSE: DAL) flights take off every day, connecting people across more than 275 destinations on six continents with a commitment to industry-leading customer service, safety and innovation. As the leading global airline, Delta's mission is to create opportunities, foster understanding and expand horizons by connecting people and communities to each other and their potential. Delta is America's most-awarded airline thanks to the dedication, passion and professionalism of its people, recognized by Fortune and the Wall Street Journal, among many others. Connect with Delta on Delta News Hub, delta.com, via @DeltaNewsHub on Twitter and Facebook.com/delta. About Joby Joby Aviation, Inc. (NYSE:JOBY) is a California-based transportation company developing an all-electric vertical take-off and landing aircraft which it intends to operate as part of a fast, quiet, and convenient service in cities around the world. To learn more, visit www.jobyaviation.com.

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TRAVEL TECHNOLOGY,AIRLINES AND AIRPORTS

Cirium Launches First Phase of Satellite-Based Aircraft Maintenance Tracking

Cirium | November 24, 2022

Cirium has revealed the aviation industry’s first satellite-based aircraft maintenance tracking feature in its Ascend Profiles module.Its new Ground Events feature enables aircraft and engine manufacturers, maintenance, repair and overhaul service providers, parts suppliers, lessors and insurers to monitor and predict future aircraft maintenance events. This means businesses can better understand when and where an aircraft last had a maintenance event and forecast its next visit. It also helps to identify aircraft transitions and define strategies around how and where maintenance and aftermarket budgets are being allocated by operators or owners. “We are innovators and constantly looking to surface new ideas to empower the aviation industry. By tracking each Ground Event of an airline’s aircraft, we can identify whether it was for redesigned cabins, new aircraft branding, a maintenance event, or for its return to service.” -Jeremy Bowen, CEO at Cirium The first phase of the new Ground Events feature captures all instances when aircraft spend over seven days on the ground and identifies the aircraft registration, airport, arrival date and time, departure date and time, ground event duration (in days) and aircraft age. For specific airlines the feature showcases the types of maintenance activity and the provider. The new feature demonstrates the power of combining Cirium’s unrivaled fleets and advanced satellite-based flight tracking data with the MRO locations and MRO relationships data. In one example, it shows Air France has been redesigning the cabin interiors of all 15 of their Airbus A330 fleet to match the interiors of their A350 aircraft. This reflects the carrier’s focus on enhancing the passenger experience and benefitted the airline when air travel started to return post the COVID-19 lockdowns. All 15 A330s were ready to return to service with the new interiors installed in July 2020. Meanwhile, the feature shows how Lufthansa returned five of their Airbus A340s, which were due for retirement, back into service as the pandemic impacted the deliveries of new aircraft. It further records how the airline partnered with IAC in Dublin to repaint the A340s in the new Lufthansa livery and regular maintenance checks were conducted by Lufthansa Technik Malta, Lufthansa Technik Philippines, and Joramco. Given the increased demand during the pandemic for the shipment of PPE and the rise of ecommerce, Cirium’s Ground Events data shows how Federal Express (FedEx) were able to maximize their fleet and leverage strong relationships with their maintenance provider. FedEx ramped up their cargo flights, utilizing young aircraft – around one-to-eight years old – and maintained a consistent two-year maintenance cycle. The Ground Events feature is part of the Ascend Profiles User Interface (UI) which visualizes aircraft intelligence of airline and lessor profiles and provides quick insights around aircraft types, airport locations, OEMs, MROs and more. The is available as an app and works across desktop, mobile and tablet. Find out more. About Cirium Cirium brings together powerful data and analytics to keep the world moving. Delivering insight, built from decades of experience in the sector, enabling travel companies, aircraft manufacturers, airports, airlines and financial institutions, among others, to make logical and informed decisions which shape the future of travel, growing revenues and enhancing customer experiences. Cirium is part of RELX, a global provider of information-based analytics and decision tools for professional and business customers. The shares of RELX PLC are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX.

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