The travel and leisure industry is facing its worst downturn since 2001, as the recession eats away at companies’ travel budgets and forces individuals to cancel trips. Airlines are planning a drastic dip in capacity as demand for flights evaporates, and hotels and casinos are doing their best to adapt to the new reality after an unprecedented three-year boom. Already two casino operators have filed for bankruptcy and more may follow.
Chief executives of some of the world’s foremost airlines, hotel and casino companies will address the economic challenges and how they plan to survive them at Reuters Travel and Leisure Summit, to be held in New York, on March 2-4, 2009.
The Summit will generate a series of exclusive interviews and articles from our team of expert reporters, as well as regular blog postings and online video.
One comment so far
Indeed, due to a global financial crisis, some companies have removed expenses that is not essential for them(like traveling privileges). Travel and Leisure Industry should really sought things out and find measures to help resolve their problem or figure a way to avoid bankruptcy especially for the small players.
- Posted by Travel Blog