Latest news with #intra-European
Yahoo
5 days ago
- Business
- Yahoo
International hotel group to enter UK market with Glasgow opening
Australian international hotel group TFE Hotels is set to make its 'long-awaited' entry into the UK market with the launch of two Adina-branded apartment-hotels in Glasgow and Cambridge. The Wellington Glasgow by Adina, located on the corner of Bath Street and Wellington Street in the city centre, will offer 98 'vibrant, design-forward' studio apartments. TFE Hotels' Chief Executive Officer, Antony Ritch, said the strategic expansion marked a "significant milestone" in the hotel group's global growth trajectory, and reinforced its commitment to "bringing flexible, design-led accommodation to culturally rich destinations". 'The UK debut and the establishment of a UK Country Office by Asli Kutlucan, CEO Europe, is a natural evolution of TFE Hotels' global strategy and signals the beginning of an exciting new chapter in one of the world's most competitive hospitality markets,' Ritch said. READ MORE:'After more than two decade of successful growth across continental Europe, we're also excited to work with partners in the UK to bring the Adina brand to two cities that reflect our values—vibrant, globally connected, and culturally compelling,' he said. 'Europe is a real platform for growth for us as an organisation, and Cambridge and Glasgow as the ideal launchpads for our UK presence, offering strong demand across both leisure and corporate travel sectors.' TFE Hotels was an early pioneer in delivering premium apartment hotels and Australian hospitality in Europe 20 years ago with the launch of Adina, and currently operates apartment-hotels across Germany, Austria, Denmark, Switzerland, Hungary, Australia, New Zealand, and Singapore. The Wellington Glasgow by Adina (Image: TFE Hotels) 'We see the UK as a high-potential market that complements our existing operations,' said TFE's London-based Chief Investment Officer, Andrew Hunter. 'Establishing a presence here enhances global visibility for our brands and allows us to better serve long-haul travellers from Asia – Pacific and North America, as well as intra-European guests seeking premium, apartment-style accommodation.' According to Ritch, TFE Hotels is excited to be entrusted with two beautiful historic UK properties, each with a storied history. 'We're proud to be one of the largest custodians of heritage hotels in Oceania,' Ritch said. 'And we are looking forward to working with our partners to bring part of the same sustainable philosophy to the UK.'
The Herald Scotland
5 days ago
- Business
- The Herald Scotland
Hotel group to enter UK market with Glasgow opening
TFE Hotels' Chief Executive Officer, Antony Ritch, said the strategic expansion marked a "significant milestone" in the hotel group's global growth trajectory, and reinforced its commitment to "bringing flexible, design-led accommodation to culturally rich destinations". 'The UK debut and the establishment of a UK Country Office by Asli Kutlucan, CEO Europe, is a natural evolution of TFE Hotels' global strategy and signals the beginning of an exciting new chapter in one of the world's most competitive hospitality markets,' Ritch said. READ MORE: 'After more than two decade of successful growth across continental Europe, we're also excited to work with partners in the UK to bring the Adina brand to two cities that reflect our values—vibrant, globally connected, and culturally compelling,' he said. 'Europe is a real platform for growth for us as an organisation, and Cambridge and Glasgow as the ideal launchpads for our UK presence, offering strong demand across both leisure and corporate travel sectors.' TFE Hotels was an early pioneer in delivering premium apartment hotels and Australian hospitality in Europe 20 years ago with the launch of Adina, and currently operates apartment-hotels across Germany, Austria, Denmark, Switzerland, Hungary, Australia, New Zealand, and Singapore. The Wellington Glasgow by Adina (Image: TFE Hotels) 'We see the UK as a high-potential market that complements our existing operations,' said TFE's London-based Chief Investment Officer, Andrew Hunter. 'Establishing a presence here enhances global visibility for our brands and allows us to better serve long-haul travellers from Asia – Pacific and North America, as well as intra-European guests seeking premium, apartment-style accommodation.' According to Ritch, TFE Hotels is excited to be entrusted with two beautiful historic UK properties, each with a storied history. 'We're proud to be one of the largest custodians of heritage hotels in Oceania,' Ritch said. 'And we are looking forward to working with our partners to bring part of the same sustainable philosophy to the UK.'
Yahoo
6 days ago
- Business
- Yahoo
Australian group TFE to debut in UK with two apartment-hotels
Australia-based hotel management company TFE Hotels is making its debut into the UK market with the opening of two Adina-branded apartment-hotels in Cambridge and Glasgow. The Hobson Cambridge by Adina and The Wellington Glasgow by Adina are scheduled to open in the third quarter of this year. TFE Hotels CEO Antony Ritch said: 'The UK debut and the establishment of a UK Country Office by Asli Kutlucan, CEO Europe, is a natural evolution of TFE Hotels' global strategy and signals the beginning of an exciting new chapter in one of the world's most competitive hospitality markets.' 'After more than two decades of successful growth across continental Europe, we're also excited to work with partners in the UK to bring the Adina brand to two cities that reflect our values—vibrant, globally connected, and culturally compelling. 'Europe is a real platform for growth for us as an organisation, and Cambridge and Glasgow as the ideal launchpads for our UK presence, offering strong demand across both leisure and corporate travel sectors.' The 56-key Hobson Cambridge by Adina is situated in a former police station and combines historic architecture with modern design. It will offer a signature bar and restaurant in a glass-roofed courtyard. Wellington Glasgow by Adina offers 98 studio apartments. TFE London chief investment officer Andrew Hunter said: 'We see the UK as a high-potential market that complements our existing operations. 'Establishing a presence here enhances global visibility for our brands and allows us to better serve long-haul travellers from the Asia–Pacific and North America, as well as intra-European guests seeking premium, apartment-style accommodation.' TFE Hotels has operations across Germany, Austria, Denmark, Switzerland, Hungary, Australia, New Zealand, and Singapore. In February 2024, TFE Hotels announced the signing of a new property, the Adina Apartment Hotel Chermside in Brisbane. "Australian group TFE to debut in UK with two apartment-hotels" was originally created and published by Hotel Management Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Cision Canada
09-07-2025
- Automotive
- Cision Canada
New CarTrawler Market Analysis Points to Uneven But Resilient Summer Travel
DUBLIN, July 9, 2025 /CNW/ -- CarTrawler, the leading B2B technology provider of car rental solutions to the global travel industry, has released its Car Rental Market Monitor for Q2 2025 at a time of great uncertainty in the travel marketplace. Inbound travel demand to the US is down by as much as 10%, and Deloitte finds that Americans are trimming their planned summer travel spending and opting for road trips. How will this uneven travel demand impact the car rental market? CarTrawler's second quarter analysis, drawn from its ongoing Car Rental Market Monitor series—which provides a regular snapshot of global car rental and mobility trends based on CarTrawler data and third-party research—builds on Q1 findings to reveal sustained interest in electric vehicle (EV) rentals and increased utilization of alternative payment methods like Apple Pay in Europe. These trends point to a dynamic and opportunity-rich global car rental market, despite headwinds in the broader travel industry. After last quarter's Car Rental Market Monitor revealed car rental volumes in all markets growing in parallel with travel demand, Q2's analysis shows disparities in U.S. demand as well as intra-European growth. Uncertainty about American trade and travel policy appears to be driving this market disruption. This uneven demand is also reflected in the average price for a 5-day trip in July booked between January and June 2025, which is $531 in the U.S. (down 8% from 2024) and €264 in Europe (+1% YoY). "Car rental holds steady despite macroeconomic uncertainty," says Gavin Sweeney, CarTrawler's Chief Revenue Officer. "Domestic road trips in the U.S. and strong demand for sun destinations across Europe are maintaining the global car rental market's momentum. As traveler behaviors evolve—toward electric vehicles and flexible payment options (like digital wallets and BNPL)—car rental continues to offer both adaptability and opportunity for travel brands looking to stay relevant and drive ancillary growth." Steady Demand for EV Rentals While EV rental volumes remained largely consistent with first-quarter levels, demonstrating sustained interest in electric vehicles across markets, most notably in the U.S. and Canada. In North America, EVs made up 5% of all car rentals (up slightly over Q1). In Europe, they represented just under 3% of all rentals. Tesla remains the most popular EV make and model in North America, comprising 59% of all North American electric and hybrid rentals. There is more variety in the European and UK markets, with brands including Toyota, Kia, Polestar Renault, and Cupra each capturing double-digit shares of total EV and hybrid rentals. This trend is likely to continue as the influx of EVs from China, particularly from manufacturers such as BYD and XPENG, affects rental fleet composition and drives down EV prices. New Ways to Pay While Americans still overwhelmingly use credit cards to book car rentals, the Q2 Car Rental Market Monitor shows that digital payment methods and buy now, pay later (BNPL) options are gaining market share in Europe. The usage of Apple Pay (4.5% of all transactions in Q2), BNPL provider Klarna (2%) and Google Pay (0.4%) all increased over Q1 levels in the EU. In the UK, Apple Pay stood out as the most preferred digital payment method among Britons, capturing over 10% of transactions in June. These findings indicate that the car rental market remains defined by consumer preferences for flexibility, immediacy, and digital convenience. Travel brands, loyalty programs, OTAs, and any other entity offering car rental options that can meet these consumer demands will be positioned for success in the summer travel season. CarTrawler provides insights into car rental market dynamics and trends that impact the global travel industry. In addition to the findings discussed here, the Q2 Car Rental Market Monitor also covers changes in average prices for summer car rentals, the increasing prevalence of loyalty program-associated car rental bookings, and the top European rental destinations by volume. For more information about the CarTrawler Q2 Car Rental Market Monitor or to speak with Gavin Sweeney, Chief Revenue Officer of CarTrawler, please contact Vanessa Horwell at [email protected]. About CarTrawler CarTrawler powers car rental and mobility solutions for many of the world's leading travel brands and loyalty programs, creating connected travel experiences through the most comprehensive network of car rental suppliers worldwide. Our Connect Platform scales to meet shifting consumer and traveller demand, giving airlines, OTAs, and loyalty programs the flexibility to offer trusted, reliable mobility services anywhere at any time. Handling over 1 billion passengers and bookings annually—nearly a quarter of the world's car rental market—CarTrawler is a leader in the global travel industry. Data Sources and Analysis Except where otherwise noted, the data presented in this Q2 2025 Car Rental Market Monitor reflects car rental activity from CarTrawler's extensive travel partners and supply partners. While representing a focused segment of the global car rental market, the findings have been analysed and extrapolated to offer CarTrawler's interpretation of broader industry trends and the direction of the wider market.
CNBC
01-07-2025
- Business
- CNBC
Hedge funds eye betting against the Swiss Franc over carry trade rebound
Hedge funds are starting to bet against the Swiss franc and are using the currency to finance purchases of the higher-yielding British pound in a trade driven by diverging central bank policies. The move is a classic "carry trade," a strategy where investors borrow in a currency with low interest rates to buy a currency with higher rates, aiming to pocket the difference. While the most popular version of this trade involves the U.S. dollar and Japanese yen, Patrick Ernst, a strategist at UBS Global Wealth Management, described the pound-franc pairing as an "interesting intra-European alternative." One catalyst for the trade has been a sharp appreciation in the franc, which Barclays analysts termed a "deflationary shock" for the Swiss economy. The currency strengthened by over 11.3% against the U.S. dollar following President Donald Trump's tariff announcements on April 2, pushing it near its most expensive levels in a decade in real terms. Swiss strength a 'real nuisance' Investors have rushed into the Swiss franc owing to its perceived safe haven status amid increasing global geopolitical and economic concerns. CHF= 5Y bar To combat deflationary pressures from a strong currency, the SNB cut interest rates on June 19 to become the first central bank to re-enter a zero-policy rate environment. However, the desired effect on the currency has proven to be elusive. "The Swiss National Bank would love it if people were to sell the Swiss franc," said Jane Foley, head of FX strategy at Rabobank. "It's a real thorn in their side, the strength of the Swissy." "The fact that it is a safe haven is not something that they would wish on anyone. It's a real nuisance to them," she added. The recent strength in the franc has also meant that short sellers, who bet on falling values, have lowered their wagers relative to the end of last year. "Our flow and positioning indicators suggest that CHF shorts are not at extreme levels, i.e., there is potential for more," said UBS Wealth Management's Ernst. Weighing up the pound While bets against the franc are building, positioning on the British pound conveys the opposite sentiment. The pound's appeal in the carry trade stems from the cautious stance of the Bank of England, which has signaled only gradual policy easing. The U.K. central bank's base rate currently stands at 4.25%. With inflation remaining "stubbornly high," the central bank is expected to proceed more slowly with rate cuts, maintaining a significant yield advantage for sterling. This growing divergence is what makes the pound an attractive investment funded by borrowing in the lower-yielding franc. This dynamic is also expected to persist in the near future as UBS' Ernst does not expect the BOE to increase its pace of cuts beyond its quarterly base case. "The latest central bank meetings in the UK and Switzerland underlined once again that the vast interest rate differential between the two economies is unlikely to fade quickly," Ernst said in a note to clients on June 20. He added that the view holds even as recent UK labor market data has shown some signs of weakness. The persistence of high inflation is seen as the overriding factor that will keep the BOE on its cautious path. The carry trade The diverging central bank trends have prompted specific recommendations from major banks. Barclays has advised clients to enter a long GBP/CHF position — which overweights sterling and underweights the franc — targeting a move to 1.15 with a stop-loss at 1.06, in a note to clients in April. More recently, in June, UBS forecasts the pair will appreciate toward 1.13 and remain in a 1.10 to 1.15 range. The trade is not without significant risks, though. A primary concern is a global risk-off event or "more geopolitical and trade risks" that could trigger safe-haven flows back into the Swiss franc. A sudden geopolitical event could cause the franc to rally sharply, which could completely erase the profit from the carry and "even leave you in the red," explained Foley. Despite the clear rationale, many investors who were in the trade at the start of the year were "burnt" by a "shocking" drop in April after the Trump administration's tariff announcement proved harsher than expected, Steve Englander, global head of G10 FX research, said. As a result, he noted, traders are going to be more cautious to be the "first one in on that trade" again.
