Expedia finds back door to Airbnb’s market

November 5, 2015

The travel site is paying $3.9 bln for HomeAway. Though the vacation-rental firm lacks the urban clout of its better-known rival, moving in with its new parent will help. Cost cuts are low, but HomeAway’s cash pile will ease the blow to Expedia of shelling out a 28 pct premium.

Bangkok attack shakes Thai economy’s last support

August 18, 2015

The deadly bombing of a shrine will scare off tourists whose numbers were up 29 pct this year. It’s another jolt to an economy already grappling with flat exports and weak private investment. Military rulers have been slow to boost public spending. That’s making things worse.

Capital controls hit Greek economy at worst time

June 29, 2015

Closing the stricken state’s banks would be a disaster at any time of year. But Athens’ capital controls are kicking in just as one of Greece’s main drivers – tourism – hits peak season. Even if Greeks don’t leave the euro, 2015 will be a writeoff.

Rob Cox: Flurry of ski M&A aims to control weather

September 30, 2014

CEOs and corporate financiers revel in the power of the deal. One company, Vail Resorts, is taking the idea to extremes. By acquiring clusters of snowy U.S. retreats in different climates and selling “Epic” season passes, it is trying to smooth bumps caused by Mother Nature.

Club Med auction returns to work refreshed

September 12, 2014

Legal action delayed a low-ball MBO by China’s Fosun last year. A counterbid by financier Andrea Bonomi has now forced Fosun to hike its offer to $1.1 bln. Shareholders in the French holiday group have been vindicated for refusing to throw in the towel.

Chinese sightseers present challenge to the world

October 3, 2012

Half the country’s 1.4 billion inhabitants are expected to travel during this week’s national holiday. A new love for tourism provides a much-needed economic boost. But giant traffic jams and a deadly boat crash in Hong Kong underscore the difficulty of coping with the crowds.

Ticket to ride up London’s Shard looks toppy

January 25, 2013

Western Europe’s tallest building will soon offer a near-$40 view. That’s lofty compared to famous vistas in New York, Paris and elsewhere. Adjusted for height, the cost looks even steeper. Blame may lie with the same footloose global capital that has flooded into London property.

The recovery starts in Times Square

October 14, 2009

The I.M.F. has called for a stronger-than-expected rebound in global growth next year, with Asia, not the U.S. expected to fuel the growth. And with the dollar hitting its lowest levels in more than a year again Wednesday, the allure of heading to the U.S. for cheap goods promises only to get stronger.