Monday, 14th December
Abu Dhabi comes to Dubai’s help with USD 10 billion. Half of it will be used to repay Dubai World’s debt. The news instantly boosted stock markets in the UAE with Dubai’s main share index closing 10% up and Abu Dhabi’s rising more than 7%. This seems to mark the end of Dubai’s debt crisis – at least for the time being.
On the same day Abu Dhabi and Hyatt Hotels disclose a deal. An Abu Dhabi wealth fund buys a 10.9% stake of Hyatt’s common shares.
Tuesday, 15th December
Accor is to split into 2 companies, pending shareholder approval. The group’s board of directors recommended to separate prepaid services and hotel businesses in order to step up the pace of growth. The services division sells prepaid benefits such as gift vouchers or lunch vouchers and generated as much as 60% of the companies revenue last year.
Wednesday, 16th December
Sheraton Hotels & Resorts announces the launch of a new social media platform: Sheraton Shared Moments. The new site enables users to share travel experiences with friends, family and the public. People signing up to the portal also have the chance to win one of five dream holidays to a luxury Sheraton Hotel or Resort. www.sheratonmoments.com
Thursday, 17th December
According to Sir Richard Branson space travel is only three years away. The Virgin boss unveils the Virgin Galactic space liner which will be called VSS-Enterprise and have room for at least 5 passengers. Apparently, there are already 13,500 potential customers for the 3-hour and USD 190,000 trip.
Friday, 18th December
Design Hotels and Unlike Media announce the launch of 11 Apple iPhone City guide applications. 10 English language city guides for the following cities can be downloaded at a charge: Amsterdam, Miami, Copenhagen, Berlin, Paris, London, Sao Paulo, Vienna, Shanghai and Barcelona. The city guide content is updated every 24 hours, free of charge. Since it is available offline, there is no need to worry about expensive roaming fees while you travel. www.designhotels.com/iphoneapp