News Articles About Business Leadership and Management
Travel to and within the United States grew 2.2 percent year over year in October, according to the U.S. Travel Association’s latest Travel Trends Index
WASHINGTON, D.C. — Travel to and within the United States grew 2.2 percent year over year in October, according to the U.S. Travel Association’s latest Travel Trends Index (TTI).
Domestic business travel declined 1.6 percent and underperformed its six-month trend (0.8 percent). U.S. Travel economists note that historically, business travel declines in advance of leisure heading into an economic slowdown—possibly a harbinger for the broader economy.
However, the strength of domestic leisure travel (4.4 percent) offset the struggling business travel segment and kept domestic travel overall in positive territory at 2.6 percent growth. But the report predicts that the pace of domestic leisure travel’s expansion is unlikely to sustain, with the Leading Travel Index (LTI)—the predictive element of the TTI—projecting leisure travel growth to slow to 1.6 percent in the coming six months. On average through April 2020, domestic business travel growth will remain relatively slow at 1.2 percent year over year.
Remington Hotels Names New CEO to Support Third-Party Management Growth
Dallas – Following the November 6, 2019, acquisition of Remington Hotels by Ashford Inc., Remington today announced several changes to its organizational structure, including the promotion of key leaders and the expansion of its executive team to support its anticipated growth into the third-party management space. Remington promoted Sloan Dean from chief operating officer to CEO and president and Stan Kennedy from senior vice president, operations, to chief operating officer. The company also appointed Jarrad Evans as chief investment officer and created a new role: chief commercial officer.
Trump Org Considers Selling Landmark Washington Hotel
The Trump Organization says it will consider offers to buy out the 60-year lease on the Trump International Hotel Trump International Hotel Trump International Hotel, which since opening in late 2016 has become a magnet for lobbyists and diplomats looking to gain favor with the administration.
“People are objecting to us making so much money on the hotel and therefore we may be willing to sell,” said Eric Trump, an executive vice president of the Trump Organization. “Since we opened our doors, we have received tremendous interest in this hotel and as real-estate developers, we are always willing to explore our options.”
The opulent, 263-room hotel built in the Old Post Office down the street from the White House has hosted parties thrown by diplomats from the Philippines, Kuwait and other countries, and has been among Trump’s biggest moneymakers. It is at the center of two lawsuits accusing the president of violating the emoluments clause of the U.S. Constitution, which bars presidents from receiving gifts or payments from foreign governments.
According to Trump’s most recent financial disclosure, the hotel took in $41 million in revenue last year, up less than half a million dollars from the previous year.