News and notes from around the interweb:
- How much less are hotels worth today than in February? The sale of the Renaissance Austin failed to close at $100 million in April with the buyer walking away from a $2 million deposit. The seller called the Renaissance “a legacy asset” that had been pulling lower revenue per room and earning less than their other hotel properties, and that it needs a lot of investment to bring up to par.
Axton Group has now purchased the hotel by the Arboretum for $70 million, a 30% haircut off the price agreed to by another buyer earlier this year.
- What it was like to live through Vietnam’s Covid-19 lock down. They’ve been free from community transmission for about three months and – aside from international flights and tourism – are largely back to normal.
- American’s “Tell Me Why” is back, on the 737 MAX.
- American Airlines extends its Mesa Airlines regional jet contract.
[Mesa] finalized a new contract, which replaces the previous agreement with American Airlines, to operate 40 CRJ-900s for a five-year term beginning January 1, 2021 through December 31, 2025. Under the previous contract 30 CRJ-900 aircraft were set to expire in 2021 with an additional 17 expiring in 2022.
- Qantas is offering an elite status challenge for members of 16 airlines including Delta and United – though to fly Qantas right now you need to be in Australia..
- Emirates expects to debut its premium economy product on a new Airbus A380 in December
- Delta secures deal with pilots to avoid any furloughs. No government payroll subsidies needed, of course they’ll take your free billions if you want to give it to them!
That new Mesa contract represents a net LOSS of 7 planes…almost 1/5 of the previous contract. It keeps Mesa afloat but the trajectory is going the wrong way…