Hotel financial – Apartman Beograd Thu, 23 Sep 2021 19:06:45 +0000 en-US hourly 1 Hotel financial – Apartman Beograd 32 32 Latest coronavirus: Novavax seeks WHO emergency use approval for its Covid vaccine Thu, 23 Sep 2021 18:50:20 +0000

The UK’s economic recovery slowed at the end of the third quarter as price pressures intensified as companies passed on rising costs to wages, transport and raw materials, a survey found Thursday.

The flash, or intermediate, composite production index published by the IHS Markit research group and the Chartered Institute of Procurement and Supply fell to 54.1 in September from 55.3 in August, the weakest reading since the start the reopening of the economy in March. Growth was driven by the service sector, where companies reported an increase in consumer confidence and a boost in stay business.

But supply chain disruption all but stifled growth in the manufacturing sector: the Markit production index for the sector fell to 51.8, a level suggesting that only a small majority of companies had experienced a decline. expansion.

James Smith, an economist at ING, said the survey pointed out “that the recovery is stagnating as winter approaches”, with rising energy prices, tighter fiscal policy and possible fallout from the economic downturn. end of the holiday will likely mean that “a Bank of England rate hike is still a long way off.”

Price pressures have increased even as the UK’s post-lockdown recovery weakened, the survey showed. A growing proportion of companies said input prices had increased – citing higher wages, raw material prices and transportation costs. The proportion of companies that increased their selling prices reached the highest level in the 25 years of the survey’s existence.

Chris Williamson, chief economist at IHS Markit, said the data “would add to concerns that the UK economy is heading into an episode of ‘stagflation’, with growth continuing to decline as prices rise more and more.” There were clear signs of cooling demand and activity dragged down by material and labor shortages – especially in food, beverages and auto manufacturing, he added.

Firms were still hiring quickly in the service sector, keeping the job creation rate close to August’s record highs, but employment growth in the manufacturing sector slowed due to lower demand and staff shortages, said IHS Markit.

Economists said the survey gave Bank of England policymakers reason to wait for the recovery to develop before raising interest rates – even as the U.S. Federal Reserve prepares to tighten policy.

Samuel Tombs, of consultancy Pantheon Macroeconomics, said the main driver of the slowdown was weak demand, adding that with higher inflation and benefit cuts weighing on household disposable income, the pace of the recovery “looks set to remain slow over the winter”.

The UK data paints a similar picture to surveys of eurozone purchasing managers, also released on Thursday, which showed supply chain problems weighing on manufacturing and increasing pricing pressures.

General Mills, FedEx, Adobe and more Wed, 22 Sep 2021 11:41:06 +0000

Find out which companies are in the headlines before they market.

General Mills – Shares of General Mills were up 1.7% pre-market after the food company reported better-than-expected quarterly profits. General Mills posted adjusted earnings of 99 cents per share, against an analyst consensus of 89 cents per share, according to StreetAccount. Quarterly revenues also exceeded expectations.

Adobe – Adobe shares fell 3.7% in early morning trading despite the software company’s quarterly financial results beating Wall Street expectations. The company reported earnings of $ 3.11 per share on revenue of $ 3.94 billion. Analysts had expected earnings of $ 3.01 per share on revenue of $ 3.89 billion, according to Refinitv.

FedEx – FedEx shares fell 6.1% in pre-market trading after the company’s quarterly profits beat expectations. The transportation company reported earnings of $ 4.37 per share, 54 cents below the consensus of analysts at Refinitiv.

Stitch Fix – Stitch Fix shares jumped 12.8% in early morning trading after reporting a surprise profit in the fiscal fourth quarter. The online sales and styling department reported a profit of 19 cents per share compared to an expected loss of 13 cents per share, according to Refinitiv. Stitch Fix also beat revenue forecast and saw 18% year-over-year growth in the number of active customers.

Hyatt Hotels – Hyatt Hotels shares fell 1.2% pre-market after the hotel company announced a public offering of 7 million Class A common stock to fund part of its planned acquisition of Apple Leisure Group.

Disney – Disney shares were up 0.9% pre-market after Credit Suisse said the sale of Disney the day before was an overreaction and the stock could rebound by more than 27%. Shares of the media and entertainment giant fell more than 4% on Tuesday after CEO Bob Chapek warned of headwinds over subscription video streaming growth in the fourth quarter and forecast subscriber growth to the fourth quarter weaker than expected.

SoFi – SoFi shares jumped 3.4% after Jefferies launched the personal finance app with a buy note, saying the stock can jump over 60% over the next 12 months. “We believe that ‘Flywheel’, SoFi’s synergistic business model, will continue to drive significant user growth, product adoption and margin expansion,” said Jefferies.

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Commonwealth Hotels Appoints Samuel King as General Manager of Radisson Hotel Jackson Downtown Capitol Tue, 21 Sep 2021 18:37:00 +0000

“I am delighted to welcome Samuel to the team,” said Jennifer porter, Chief Operating Officer for Commonwealth Hotels. “We look forward to his strong leadership within the establishment’s management team.”

Prior to joining the Radisson, King also worked with the Radisson Hotel and Conference Center in Normal, Illinois as well as the Country Inn and Suites in Springfield, Illinois. In addition to his strong skills in operations, communication and customer service, he also holds several certifications in hospitality. Samuel holds a bachelor’s degree in business management from the University of North Carolina, Chapel Hill, NC.

About Commonwealth Hotels, LLC

Commonwealth Hotels, LLC was founded in 1986 and is a proven partner in providing hotel management services with superior financial results. The company has extensive experience in managing high-end, full-service and select-service hotels. Commonwealth Hotels currently manages 50 properties with almost 6,000 rooms. Additional information can be found at

Barbara e willen
Commonwealth Hotels, LLC
[email protected]

SOURCE Commonwealth Hotels, Inc.

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Successes and struggles in South Jersey Tue, 21 Sep 2021 04:28:01 +0000

The eight-county, 3,700-square-mile region that includes southern Jersey has historically weathered economic uncertainty with its various assets ranging from ports and hospital systems to renowned higher education institutions and tourism, but when the coronavirus pandemic struck last year, each of these components was heavily iimpacted: Hospitals were bombarded with COVID-19 patients and associated financial costs, higher education institutions were operating under pressure, tourism was hampered, and ports in the region saw drastic cuts in the freight supply side , with, for exampleple, the South Jersey Port Corporation’s total volume increased from 4.07 million tonnes in 2019 to precisely 3 million tonnes in 2020.

Regardless of how one wants to quantify or qualify the overall South Jersey economy in 2021, there is a lot of positive news: this sumsea, the Jersey Shore was teeming with beachgoers looking for outdoor and dining experiences, Atlantic City’s gaming business has surpassed that of many previous years, and regional economic development projects are on the rise. remained in motion. On the latter Point, South Jersey Ports will receive a $ 9 million grant from the U.S. Department of Transportation to increase its barge capacity and intermodal rail connectivity to the Port of Salem, and, in the health arena, Virtua Health announced in july «tranformative renovations ”for its Virtua Our Lady of Lourdes Hospital in Camden and for its Virtua Memorial Hospital in Mount Holly. Another hospital system – AtlantiCare – plans a $ 75 million expansion of AtlantiCare Regional medical center (ARMC) Continental campus, in Pomona.

Tourism, games and Atlantic City

While the above is only a sample of economic development projects, the harsh realities and lingering effects of the pandemic cannot be overstated. Atlantic City, for example, has lost 21,100 jobs in 2020 compared to 2019, contributing to a 16% drop in Atlantic City’s employment base in the region, with profoundly negative impacts for many residents and businesses.

Noting that about half of the jobs were related to Atlantic City casino hotels, Oliver D. Cooke, PhD, and Associate Professor of Economics at Stockton University, comments: “That’s a lot of jobs to catch up on. He adds: “One of the big questions that will weigh on the regional economy as we move towards the end of 2021, beginning of 2022, is: get to staff levels in casinos? [Do] do they bounce or not?

As of May 2021, Atlantic City casino hotels employed a total of 21,993 workers, and as this cannot be compared to May 2020 as the casinos were closed at that time due to the pandemic, statistics reveal that casinos employed 4,457 more workers (a total of 26,450 employees) as of February 2020. This is not entirely an apples-to-apples comparison, however, as official figures from July 2020 to May 2021 include a large number of indpeople on leave due to COVID-19.

What could potentially fuel an upturn in employment at Atlantic City casino hotels is revealed by recent gaming statistics:illion, which broke a previous record of $ 340.5 million set in July 2011. Although relatively new, internet and sports betting contributed significantly to the increase. Standard physical and physical casino activity also increased in June 2021 to 214.5 million, exceeding activity for five of the last six months of June (2015-2020), with the exception of June 2019, which recorded $ 236 million in physical revenue.

The owner and operator of the Caesars Entertainment, Inc. casino routes the money to Atlantic City. (Cesars, Harrah’s Resort and Tropicana Atlantic City), which detailed in April a $ 400 million investment in a master plan in Atlantic City. It started this summer with a $ 170 million renovation of rooms and suites at Caesars and Harrah’s. The company says of its large-scale master plan: “These developments will strengthen [Atlantic City’s] position as a Las Vegas-style destination market with an emphasis on revitalizing the famous Atlantic City Boardwalk. Meanwhile, a different casino – Borgata Hotel Casino & Spa – opened “a new restaurant concept” called the American Bar & Grille, in June.

Economic development

An even larger development project in South Jersey includes the hope of a rail line from downtown Camden to Glassboro.

Lender sues for foreclosure against owner of DoubleTree hotel Mon, 20 Sep 2021 18:32:00 +0000

DoubleTree Hotel near Miami International Airport and President of United Capital Corp. Anthony “Tony” Miceli (Google Maps, LinkedIn)

The owner of the DoubleTree by Hilton Hotel & Miami Airport Convention Center has reportedly not made mortgage payments since April 2020. So the lender is now seeking to collect nearly $ 33 million in unpaid debt.

The lender, a commercial mortgage-backed securities trust represented by a subsidiary of Miami-based Rialto Capital Advisors, has filed a foreclosure lawsuit in Miami-Dade circuit court against AFP 103 Corp. The entity is managed by executives of a New York-based real estate agency. investment company United Capital Corporation.

The DoubleTree Miami Airport hotel is the latest hotel property in Miami-Dade County to find itself in court over financial issues following the tourist disruption caused by the pandemic. Over the summer, two hotels in downtown Miami and Brickell filed for bankruptcy to settle with creditors and avoid foreclosure. In March of last year, the DoubleTree hotel at Miami Airport laid off 179 employees, according to a WARN state record.

The lawyers representing the United Capital subsidiary AFP 103 Corp. and the CMBS Trust did not respond to requests for comment.

According to its website, United Capital owns 150 commercial properties covering more than eight million square feet in the United States, including the Marriott Orlando Downtown.

United Capital bought the DoubleTree Miami Airport hotel in 2009 for $ 11.7 million in a foreclosure auction, records show. The 334-room hotel and 138,198-square-foot conference center at 711 Northwest 72nd Avenue were completed in 1968.

The property is also home to the Miami Merchandise Mart, which is owned by a different entity and is not a party to the September 9 foreclosure lawsuit.

According to the complaint, the United Capital subsidiary contracted a refinancing of $ 40 million in 2013 from a subsidiary of UBS Bank. The loan was assigned to CMBS Trust the same year. In April last year, CMBS Trust sent the United Capital subsidiary a notice of default after missing its monthly mortgage payment, and no payments have been made since, according to the lawsuit. As a result, the principal overdue, plus interest, of $ 32.8 million is now due, according to the complaint.

In 2020, government restrictions on travel and accommodation establishments resulted in a massive drop in the number of hotel guests in South Florida. Despite a rebound in tourism, Miami-Dade hotels are still recording a drop in bookings, especially for business trips.

In July, the owner of a Holiday Inn in downtown Miami filed for Chapter 11 bankruptcy, listing $ 100 million to $ 500 million in assets and $ 10 million to $ 50 million in liabilities. of dollars. According to the owner’s lawyer, the filing is aimed at settling with creditors and attracting investors to redevelop the site at 340 Biscayne Boulevard.

A month later, the owner of Aloft Brickell Miami at 1001 Southwest Second Avenue also filed for Chapter 11 bankruptcy to prevent foreclosure action by Torchlight Investors, which seeks to collect a loan of 17, $ 8 million.

Gathering of hotel actions; Indian hotels at new high, Chalet, EIH earn up to 14% Mon, 20 Sep 2021 06:17:00 +0000

Shares of hotel companies were the center of attention and climbed to 14% on BSE in intraday trading on Monday in hopes of a recovery in business after the economy unblocked and the resumption of travel. Management’s comments on the strong recovery from July are encouraging and analysts believe business will return to pre-Covid levels by the fourth quarter of FY22, if there is no third wave of the pandemic.

Among individual actions, EIH, Taj GVK Hotels & Resorts and Chalet Hotels grew between 10% and 14%. Indian Hotels Company (IHCL) jumped 14% to a record Rs 169.20, on BSE in intraday trade. The share of the company Tata Group exceeded its previous record of Rs 164.10 touched on June 26, 2019.

Analysts remain positive on IHCL’s business recovery outlook due to its strong brand recall and footprint across all segments, lean approach to assets, Ginger’s repositioning in the lean luxury segment and effective cost management.

So far in September, the IHCL share price has appreciated by 21%, after the company announced a plan to raise Rs 3,000 crore through a rights issue. to existing shareholders of the company. The aim of the issue is to meet the company’s financing needs for capital spending, growth plans and debt repayment and will be finalized in consultation with investment bankers, the company said. .

Rating agency ICRA on September 2 reaffirmed IHCL’s non-convertible bond program ratings of Rs 300 crore and revised the outlook from negative to stable. Long-term rating outlook review takes into account the likely improvement in IHCL’s capitalization metrics and cash flow position, following its recent fundraising announcement, ICRA said in the scoring justification.

The Tata group owns 40.75 percent of the capital of IHCL through Tata Sons (38.09 percent of the capital) and other group companies. Tata Sons has demonstrated its financial support to IHCL over the years, endorsing various fundraising activities of the company and CIFAR expects the same to continue as well, should the need arise. The company also benefits from considerable financial flexibility and lender / investor comfort thanks to the lineage of the Tata group.

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Goldman Sachs Group, Inc. (The) (NYSE: GS) – Lessons from the first SALT New York conference on finance, technology and geopolitics Sun, 19 Sep 2021 15:11:15 +0000

Why should I go?

This is the question some were probably wondering as SkyBridge Capital, a global investment firm, sought to bring together thousands of the world’s most prominent investors and thought leaders for three days of collaboration and networking. high level.

Let’s answer the question with some key lessons from New York’s first SALT event.

The context: Founded in 2009, SALT events are the convergence of asset managers and owners, entrepreneurs, investment advisers and policy experts.

Designed to educate attendees on the topics most understood by world leaders and renowned fund managers, SALT also provides the opportunity to network with companies and individuals who impact the way the world works and lives.

The event is not all business though. Participants enjoy a high class dinner and entertainment with afterparties hosting exceptional talents, musicians, and more.

NY 2021: Founder of SkyBridge Capital Antoine Scaramucci, former Trump White House communications director and Goldman Sachs Group Inc (NASDAQ: GS), hosted SALT NY 2021 (September 13-15), one of New York City’s first major events at the newly renovated Jacob K. Javits Convention Center.

It was New York’s first SALT event; 10 times before, the Bellagio Hotel in Las Vegas – famous for its exotic parties, concerts and dinners – was the venue.

“Our goal has always been to empower big, important ideas and foster a community to tackle common challenges,” Scaramucci told Reuters ahead of the event.

“We are also bringing SALT to New York for the first time to help spur revitalization efforts in the city, and we want to show leadership in returning to a semblance of normalcy while maintaining a safe environment for our participants.”

Despite a worrying resurgence of the coronavirus, the flagship Wall Street conference saw record attendance, running out of food and seats for its nearly 2,300 vaccinated delegates and speakers.

In large rooms, famous investors, businessmen and politicians like Steven cohen, Jon Najarian, Kevin o’leary, Catherine Bois, Sam Bankman-Fried, John kelly and Jeb bush talked about everything from the implications of innovation to immigration, equality and regulatory developments.

Halfway through, SALT hosted The Chainsmokers at Marquee New York, among other more private events.

Lessons from SALT: While there are too many lessons to share, we’re targeting a few, starting with the one offered by a panel featuring Cohen from Point72, Ilana Weinstein of the IDW Group, Dmitry Balyasny of Balyasny Asset Management and Mike rockefeller by Woodline Partners.

“If you can’t remember anything else, talent is everything.”

This is according to Weinstein, who said that human capital is as important as financial capital. The reason is, you can’t generate alpha if your business doesn’t have the means to attract and retain the best and the brightest.

In a conversation between André Sorkin from CNBC and Wood from ARK Invest, SALT attendees heard a different take on the inflation debate.

Wood argued that market forces make the world highly deflationary: for example, with new technologies, she said costs go down as demand rises. Alternatively, there is the potential for creative destruction as well as cyclical deflation.

“The bull market will not end at least … until the number of millennials has peaked”, said Bois.

In a talk on why diversity can work better, Rupal bhansali Ariel Investments discussed emerging themes regarding market structure and factor investing.

“Ignorance is not happiness. It is the loss “, she said.

In another discussion, David Rubenstein of the Carlyle group and Jeff blau related companies talked about private equity and real estate.

The takeaway from this conversation is that aside from the fact that private equity is kind of a very successful outsider, it’s hard to proclaim the existence of a bubble.

“You never know you’re in a bubble until it’s over” Rubenstein said in a rationale for high ratings; COVID-19, among others, has caused a massive transformation in the way people live and work.

Plus, both sides of the equation – the business and the investor – are better experienced at dealing with downsides, he said.

“The industry has so much more talent to make these businesses work.”

SALT takeaways: In addition to the aforementioned perspectives, key conference themes include cryptocurrency, inclusiveness, and talent.

The world is changing; individuals and businesses are inclined to partner with more diverse and effective technologies and talented people.

As Ksenija Pavlovic from Pavlovic Today summed up: “SALT sparked the conversation about crypto. SALT spoke about Afghanistan. SALT partied with Chainsmokers at Marquee. New York, America’s engine, is operational.

“The American dream is still alive.

To learn more about SALT events, click here.

© 2021 Benzinga does not provide investment advice. All rights reserved.

Flats East Bank refinancing puts large-scale project on firmer ground Sun, 19 Sep 2021 08:00:00 +0000

A recent refinancing of Flats East Bank, a more than $ 500 million project at the mouth of the Cuyahoga River, resolves long-standing financial problems and paves the way for further development at the 23-acre site.

Developer Scott Wolstein on Thursday, September 16, made an agreement that has been in progress for more than a year. The deal replaced bonds issued in 2010 and 2014 with new debt, with longer duration and lower interest rates, and freed up cash for Wolstein to catch up with millions of dollars in payments to lenders. public.

“It cleans up what has been a major source of acrimony between us and all the various government entities,” Wolstein said.

By simplifying the financial foundations of the project and removing privileges from parts of the site, the restructuring will also make it easier for Wolstein to refinance its existing buildings – and build new ones on parking lots that could potentially hold up to 1,500. apartments.

The Flats East Bank, where construction began ten years ago, features a 23-story office tower, the 150-room Aloft Cleveland Downtown hotel, a riverside building and more than a dozen restaurants and places of entertainment.

The apartments are full. Office space is 95% occupied, according to bond offering documents. The hotel, like others in the city center, is emerging from a pandemic-induced slump.

But the project has been on shaky ground with government and civic lenders since before the first phase of construction was completed, in large part because of a school tax that Cleveland voters approved in 2012. This increase in Tax was not part of the original financial projections for the project, which required more than 30 sources of funding to get started after the Great Recession.

The solution ended up involving a timely change in state law and, after fierce debate, a Cleveland City Council vote to double the duration of a key tax incentive for the project. In December, the council voted 14-2 to add 30 years to an existing property tax increase funding agreement.

Funding through tax increases reallocates some of the new land tax revenues created by development, often pledging this money to pay down public infrastructure debt.

In Ohio, the standard TIF lasts for 30 years. But the General Assembly last year created a short-lived opportunity for local governments to double that deadline for some existing projects. Such a “mega-TIF” was to keep local schools harmless during the extension period, regardless of the terms of the original agreement.

The initial 30-year window for Flats East Bank ends in 2040. The extension pushes this end date back to 2070. This additional lead has allowed Wolstein to replace the TIF bonds related to the first two phases of the project on more attractive terms. . And that gives it a valuable tool to fund other grassroots projects.

On Thursday, September 16, the Cleveland-Cuyahoga County Port Authority issued nearly $ 58.7 million in new TIF bonds for the project, in two batches that have generated strong investor interest. Almost $ 34 million of the proceeds was used to repay the principal of existing bonds, issued years ago by the port, state, and Summit County Development Finance Authority.

The transaction generated $ 17.4 million to repay a cascade of public lenders, including the city.

Ryan Sommers, a financial consultant on the deal, said there were only three government debt securities left from the first phase of the project: two state urban redevelopment loans and one loan from the US Department of Housing and Development. urban that crossed the city.

“Without that happening, you had those legacy government debt obligations over your head every time you had to refinance, expand, or sell,” said Sommers, general manager of financial services at Project Management Consultants in Cleveland. “You had to take care of it every time. And at that time, you have a very clean, more traditional funding structure.

At a council hearing last year, David Ebersole, the city’s director of economic development, described the apartments as a “high-risk project financed on very thin margins”. Doubling the length of the tax hike funding deal was the only way to clear things up and avoid litigation, he said at the time.

In an email Thursday, Ebersole wrote that the refinancing not only resolved public debt defaults, but also put high-level development in a better position to make outstanding payments.

“These repayments provide the city with financial resources which can be invested in future projects,” he writes.

Cleveland Development Advisors, a civic lender on the project, was repaid long before the deal closed, said Yvette Ittu, president of the real estate and corporate finance arm of the Greater Cleveland Partnership.

“We were delighted to be a part of bringing Flats East Bank to where it is today and happy that it will be able to continue to move forward with more traditional sources,” Ittu wrote in an e -mail. “It’s great when that happens.”

Wolstein said construction could start again this year on a second apartment building on the site. Akara Partners, a Chicago-based developer, has formed a joint venture with Wolstein for the project, which is expected to span a 2.5-acre parking lot at West 11th Street and Main Avenue.

New riverside restaurants and nightclubs, including an Asian fusion restaurant, Texan-style barbecue and country music hall, are expected to start opening in November, Wolstein said. Other incoming tenants include a bagel store, wine bar, and ESPN Cleveland.

Building on an award from the state’s latest capital budget, Wolstein is installing video screens in two locations and preparing to add two permanent stages for live performances. By next summer, he hopes to eliminate car traffic from more of the site, turning the waterfront area west of West 11th Street into a pedestrian-only area.

And the developer is in the early stages of planning for more apartments north of Front Avenue, in a parking lot between FWD Day and Nightclub and Margaritaville Cleveland. But he’s in no hurry.

“It’s more of an art than a science,” he said, “but what you never want to do is flood the market with too many units in the same neighborhood at the same time.… I would not start a project in the apartments until the immediately preceding project came out of the ground. “

Qatar Hotel Association holds virtual meeting with Turkish Tourism Investors Association Sat, 18 Sep 2021 18:03:21 +0000

The Qatar Hotel Association (QHA) held its first virtual bilateral meeting with the Turkish Association of Tourism Investors (TTYD) on Saturday as part of its mission to form a global network with international partners in the hotel and hospitality industry.

The meeting was attended by QHA President Sheikh Faisal bin Qassim al-Thani and TTYD President Oya Narin. Turkish Ambassador Mehmet Mustafa Goksu and Levent Sadik Kucukdaban, National Advisor to the Turkish Presidency’s Investment Office in Doha, were also present at the meeting.
Omar Alfardan, QHA second deputy to the president; Sheikh Hamad bin Mohamed bin Fahd al-Thani, secretary general of the QHA; Sheikh Fahad bin Hamad bin Jassim al-Thani, founding member; Sheikh Mohamed ben Faisal ben Qassim al-Thani, founding member; and Sheikh Ahmed al-Thani of Katara Hospitality, as well as Deputy Director General of QBA, Sarah Abdullah, attended the meeting.
The two entities introduced their respective members and discussed the situation of the hotel sector in light of the Covid-19 pandemic and the challenges facing the sector. The two sides also discussed investment projects and potential cooperation, as well as the necessary steps for their implementation.
Sheikh Faisal said that the launch of the first bilateral meeting reflected the strength of Turkish-Qatari relations and the real interest of Qatari businessmen in developing trade and economic relations with their counterparts in Turkey, especially in the field of hospitality and tourism.
He said the QHA seeks to promote Qatar’s hotel sector and promote the country as a tourism investment destination.
Narin said that the Turkish Tourism Investors Association was established in 1988 as a non-governmental organization to become the voice of tourism investors. It is the only trade organization that covers all tourism and travel activities in Turkey, she said, noting that the association includes high-level members from major Turkish companies operating in the sector.
Sheikh Faisal also spoke briefly about the group of hotels he owns inside and outside of Qatar, pointing out that he started his investments in the hotel sector in Turkey three years ago and his aspiration to explore other investment opportunities there.
Alfardan spoke about the different sectors covered by the holding company, referring to the hotel sector and the group’s investments in this sector at local and international level. For his part, Sheikh Fahad spoke about his company that owns the Four Seasons hotel in Qatar, as well as Sheikh Hamad as the owner of the Intercontinental hotel in Doha, in addition to Sheikh Ahmed, a Qatari international company that owns, operator and developer of hotels.
The members of the TTYD Board of Directors presented the different companies and sectors they represent. Narin introduced herself as the president of Marti Hotels and Marinas, and Mehmet Tevfik Nane is vice president of TTYD and also president and CEO of Pegasus Airlines, while Pelin Akin Özalp is a member of the board of Akfen Holding Company. .
The other members of the board of directors present at the meeting are Omer Tosun, president and founder of Indigo Group; Alper Aksoy, representative of Aksoy Contracting and Trading Company; Kas? M Zoto, founder and president of Armada Hotel; Ece Gurçay, owner of the Cactus hotel; Mehmet Gocen, member of the board of directors of Gocay Construction and Contracting; Ayla Heyfegil, owner of Servotel Corporation; Giray Boranms, director of Bilgili Holding BLG Capital; and Hale Atlan, General Secretary of TTYD.
Goksu praised the strength of Turkish-Qatari relations, saying the meeting is a milestone for both hotel and hospitality sector entities.
During the meeting, the Turkish team made a presentation which included information about the association and its members and their investments in accommodation, marinas, yachts, land and air transport, tour management, tourist shopping centers, leisure and recreation facilities and golf courses.
The total investment portfolio was around $ 60 billion, which is a large part of private investment in tourism in Turkey. In addition, members have built and operate numerous tourist facilities in various countries, mainly in the Commonwealth of Independent States (CIS), Central Europe, the Middle East and the Balkans.
The presentation also provided information on the tourism sector in Turkey, which hosted 52 million people with a total income of $ 34.5 billion. Turkey is also the sixth favorite tourist destination and has 463 blue flag beaches.
QHA members presented an overview of the association as the first leading private entity in the hospitality and tourism sector in Qatar that functions as a platform for hotel owners and establishments tourism in Qatar to exchange views, participate in the development of strategies and legislation, and launch initiatives and events for the development of member institutions of the association and the hotel sector. The number of QHA member institutions has reached approximately 91 hotels. Membership was recently opened to all hotels and institutions concerned.
Participants also discussed the most significant challenges facing the sector in light of the current economic conditions the world is going through due to the pandemic, which poses a major challenge for the hotel sector and its employees, the investment climate. sector, as well as the measures that have been taken by different organizations that sponsor the hotel sector in Turkey and some international institutions.
They also discussed the opportunities for joint cooperation and the “great potential” that Turkey and Qatar have to develop joint projects in the tourism sector. The meeting underlined the importance of the cooperation of various economic institutions, private sector companies and businessmen in this sector to overcome the impact of the current crisis and support the efforts of governments to restore the recovery of the economy. local and global.
At the end of the meeting, the Turkish Association of Tourism Investors invited the QHA to participate in the “Tourism Investment Forum” next year to benefit from the presence of all international investors in the hotel and tourism sector, financial institutions, banks and funds. Sheikh Faisal also invited members of the Turkish association to visit Doha and discuss potential investment opportunities available.

Interfaith Dallas helps mother who lost her job and home during pandemic Sat, 18 Sep 2021 03:22:51 +0000 Felicia Melton, a single mother of three, hit rock bottom at the start of the pandemic. She thanks Interfaith Family Services for transforming her life.

DALLAS – Every morning Felicia Melton follows a strict schedule. She wakes up her three children, changes them, gives them breakfast and prepares them for school and daycare.

It’s the ordinary routine that parents are familiar with, but to Melton, her daughter Xylia, and twins Xyaire and Xander, it means everything.

Starting a new day in a home of their own is a testament to how much they’ve come through.

The simple moments inside their Dallas condominium are the greatest stability her family has had in a long time.

“It was the perfect storm … that’s what I want [sic] call it, ”Melton said.

Last year, at the very onset of the COVID-19 pandemic, Melton’s family lost almost everything. It all started when she, like so many others during the pandemic, lost her job.

“In three days I had no home, in a month and a half I had no husband and after two months I was running out of money,” Melton said.

They ended up living in a hotel room. To her, it was the background in what seemed like a blink of an eye.

Melton didn’t want his daughter Xylia to know how bad the situation had become. The girl thought the hotel stay was a mini vacation.

“I remember she had taken her to school on Tuesday and the teacher said, ‘I heard you all have a new place,’ and I started to cry,” Melton said. . “I was like, ‘This is not a new place… we lost our house over the weekend because I lost my job. “

Alone and struggling with postpartum depression, the new single mom turned to Interfaith Family Services of Dallas for help.

The association moved her family into a furnished and fully stocked apartment for nine months and provided them with the essentials to survive.

Beyond that, Interfaith, which empowers families in crisis to break the cycle of poverty, has helped Melton transform his life. The nonprofit helped her through its program, which gave her the tools to be successful.

Melton has received financial coaching, therapy, work assistance and more. It was enough to help him change his life.

“God took everything out of my life that I didn’t need at one time,” Melton said. “Because it would have broken me to do it in spurts. He stripped everything off. He pulled me up to my bare butt. Trust me, that’s the message I learned. Interfaith gave me a little more faith. “

“They offered me a house. Who gives you a free house when you have nothing? No one,” she said.

She completed the program, got a new job working from home, and found a new place to live for her young children.

Sometimes all you need is a little help.

“It makes me all emotional because that’s the only thing they asked for, to finish the program. That’s it, ”Melton said.

Through all the hardships she and her children have faced together, there is hope for better days to come.