It seems that any sentence about Las Vegas, the people who work there or the stocks of the companies that run the big casinos ends better with the word “baby”. It’s almost like you can hear Frank saying it to Dino on their way into some smoky, after-hours cocktail party.
The state of the airline industry and travel overall is not poised for a rapid takeoff in 2009 and looks like it will remain in rough shape until next year, said Pierre-Henri Gourgeon, chief executive of Air France-KLM, on Monday at the Reuters Travel and Leisure Summit.
Priceline.com CEO Jeff Boyd told the Reuters Travel and Leisure Summit in New York that he thinks that at least two out of the four players in the online travel sector – Priceline, Orbitz, Travelocity and Expedia – could be in a position for either an IPO or a sale once the economy turns up.
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.