On September 23rd, 2019, Thomas Cook - one of the world's oldest travel companies - declared bankruptcy. The 178-year old travel firm was forced to indefinitely suspend its operations after failing to secure £200 million in emergency funding, despite having already reached an agreement for a £900 million rescue deal.
Are investment decisions really independent? The role of decision making biases in hotel development projects
Think back to an important decision you have had to make. You may have weighed out the costs and benefits, studied the context, and evaluated the potential outcomes. While one hopes that careful analysis will lead to rational choices, the truth is that our human minds are complex.
Venture - or zip line - down the Vegas strip and behold the bustle surrounding its extravagant attractions. As the destination Las Vegas transcends its image of a gambler's paradise, casino resorts and hotels are having to reinvent themselves.
The service industry is a unique powerhouse, which has seen constant growth over the past 20 years, with hospitality contributing some 10 percent of GDP. But what's in store for the sector, particularly as it becomes ever more competitive and the pace of change ever rapid? At a recent event in Shanghai entitled 'First Global Service Excellence Forum' staged by CEIBS and Ecole hôteliere de Lausanne, we examined trends in the service sector.
The hospitality industry has shown great dynamism in Latin America over the past five years and that trend looks set to continue in 2018. While tourism growth in Central and South America can be partly explained by the region's diversity and natural resources, most of its progress stems from the continuous commitment of governments to promote the sector.