Jamaica draws more visitors in 2011 despite drop in U.S. arrivals
Jamaica reported 1.95 million stopover visitors in 2011, an increase of 1.6% from 2010, according to the Jamaica Tourist Board. U.S. arrivals totaled 1.26 million, a 1.4% decrease. Cruise arrivals numbered 1.13 million, a 23.7% increase. Latin America led the visitor surge in 2011, recording a 23.4% increase in stopover arrivals. The main markets were Argentina, Brazil, Chile, Colombia, Ecuador, Mexico and Panama.
Low-cost carriers see double-digit growth in 2011
Leading low-cost carriers enjoyed double-digit revenue growth in 2011 and collective passenger numbers rose nearly 12%. The latest Airline Business low-cost carrier survey showed revenues grew strong at virtually all of the more than 30 carriers 2011 financial results were available for. Southwest Airlines remains the largest budget operator by revenue and passenger numbers. Its revenues jumped nearly 30% to $15.7 billion when accounting for its 2011 acquisition of fellow low-cost carrier AirTran. Excluding the merger, its revenues were up 6%. Passenger numbers reached 135 million.
Delta to buy oil refinery
Delta Air Lines through a subsidiary company agreed to acquire from Phillips 66 a Philadelphia-area oil refinery.
Delta subsidiary Monroe Energy, which plans to close the transaction by the end of June, will invest $250 million in the acquisition, refinery improvements and related sourcing and marketing agreements with Phillips 66 and BP.
15% of wealthy travelers plan to cruise this year
The spring 2012 survey by the American Affluence Research Center found that a lower percentage of people in wealthy households plan to cruise this year. “Plans to cruise during the next 12 months declined from 18% of the wealthiest U.S. households in the fall 2011 survey to 15% in the new survey. This decline is consistent with the softness in first-quarter bookings reported by the industry, but it still shows good potential for cruise sales,” a statement from the center said.
Norwegian Cruise Line reports improved first-quarter earnings
Norwegian Cruise Line reported stronger year-over-year earnings for the first quarter Monday morning. The Miami-based cruise operator, the world’s third-largest, made a $3.3 million profit in the quarter that ended March 31, compared to a loss of $7.9 million during the first quarter of 2011. Revenue increased from $495.5 million in the first three months of 2011 to $515.4 million this year.
TripAdvisor shares surge after Q1 report
TripAdvisor’s first-quarter profit increased 1.8% from a year earlier, as a jump in revenue from click-based and display-based advertising offset the effect of higher selling, technology and administrative costs during the company’s first full quarter as a public company.
Billionaire promises to build Titanic II by 2016
An Australian billionaire said Monday he’ll build a high-tech replica of the Titanic at a Chinese shipyard and its maiden voyage in late 2016 will be from England to New York, just like its namesake planned. Weeks after the 100th anniversary of the sinking of the original Titanic, Clive Palmer announced Monday he has signed a memorandum of understanding with state-owned Chinese company CSC Jinling Shipyard to build the Titanic II.