Each day, we curate a bite-sized round-up of the best industry news from across the world. We search the web for the latest hospitality updates and travel trends, so you don’t have to. Get comfortable with a coffee and tuck in to our daily must-reads
1. WOW Air ceases operations
WOW Air has cancelled all flights and ceased operations after failing to reach an agreement with investors. All 29 of the budget airline’s flights scheduled for today were cancelled and 2,700 passengers were left in limbo. Along with Icelandair, WOW has played a key role in Iceland’s decade-long boom in tourism, carrying 3.5 million passengers last year alone.
2. GIC buys 25% stake in hotel chain citizenM
Singapore’s sovereign wealth fund GIC has bought a 25% stake in hotel chain citizenM. While the value of GIC’s purchase hasn’t been revealed, the investment takes citizenM’s enterprise value to €2bn. GIC will become citizenM’s third investor, alongside KRC and APG. The trio have already committed to investing another €750m for future expansion.
3. New Zealand introduces new travel requirements
In a bid to strengthen border security, New Zealand’s immigration bureau will implement a new tourism entry approval process that involves an Electronic Travel Authority (ETA) form as well as a new tax named the International Visitor Conservation and Tourism Levy (IVL). The new requirements will take effect on 1 October and travellers from 60 countries that are currently in the country’s visa waiver scheme will be required to apply.
4. Equinox Hotels starts taking reservations
Fitness company Equinox has begun taking online reservations for its first hotel which is scheduled to open this June. One of the hotel’s most notable amenities will be its 60,000-square-foot Equinox Fitness Club, the brand’s largest facility. Guests can opt for group fitness classes, private pilates and personal training services, among other programming during their stay.
Don’t forget you can access weekly travel insights and expertise with Click. Bytes
Nicola Donovan is a travel writer for Click.More by Nicola Donovan
Popular around Click.
Evolution of online payments
Podcast: #4 – Talking cancellations
Insider tips on boosting your review score
Travel trends: what 2017 taught us
What I wish I knew: lessons in holiday rentals
Adapt or die: surviving in the era of digital Darwinism
Five travel trends that will shape customer experience in 2018