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CRTA INSIDER
Vacation Ownership News & Updates
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| Canadian Resort & Travel Association |
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| Gaetan At The AMDETUR Conference 2024 | Source: CRTA News | Our President and CEO, Gaetan Babin attended, and was a speaker at the AMDETUR Conference held June 4-5 at the Nuevo Nayarit VIDANTA in Mexico. This is one of the biggest timeshare conferences held each year, featuring representatives from all over the North American timeshare industry. |
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| Hilton Grand Vacations Completes $375 Million Term Securitization | Source: Hilton Grand Vacations | Proceeds of the issuance, net of fees, will be used to pay down debt and for other general corporate purposes. This transaction marks HGV’s 11th term securitization of timeshare loans, and the first issuance of The Grand Islander, a Hilton Grand Vacations Club collateral under the HGVT platform. The transaction saw significant peak order demand with approximately 60 orders from more than 30 unique investors. |
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VACATION OWNERSHIP & TRAVEL INDUSTRY NEWS | VACATION OWNERSHIP
& TRAVEL INDUSTRY NEWS
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| Union for Canada's border workers extends job action deadline as mediation continues | Source: CBC News | Workers at ports of entry across Canada will go about business as usual over the coming days. A strike and any job action by Canada Border Services Agency (CBSA) workers were averted by the 4 p.m. ET Friday June 7 deadline, as union leadership and the government extended mediation talks until Wednesday. In a statement, the Treasury Board Secretariat of Canada said the government has "committed to remain at the table to continue negotiations." |
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| Travel & Tourism Set to Contribute a Record $182BN to the Canadian Economy This Year | Source: Breaking Travel News | The World Travel & Tourism Council (WTTC) is forecasting an historic year for Canada’s Travel & Tourism sector this year, with the economic contribution set to reach an all-time high of almost $182BN. Reaching $182.1BN in 2024 represents an additional $8.1BN over its previous peak, affirming the sector’s significant role as an economic force, responsible for generating one in every 15 dollars of economic activity. |
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| TIAC Annual Report 2023 | Source: Tourism Industry Association of Canada | Just released - The Tourism Industry Association of Canada Annual Report 2023 showcases key achievements and milestones from a prosperous year. |
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| Disney Ends Florida Fight, Paves Way For New Park | Source: Travel Industry Today | Months after Disney and Gov. Ron DeSantis’ appointees agreed to end a protracted legal fight, the two sides are set to approve an agreement that could result in the company investing up to US$17 billion into its Florida resort and opens the door to a fifth major theme park at Walt Disney World. The five DeSantis-appointed supervisors who oversee the Disney World district voted Wednesday to give initial approval to a new development agreement that both sides had agreed to negotiate after a March settlement ended their state court lawsuits against each other. A second vote required for final approval is set for next week. |
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RANDOM BITS & NEWS BITES | RANDOM BITS & NEWS BITES |
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| Grand Span - The Gordie Howe Bridge | Source: The Globe And Mail | When the two halves of the iconic Gordie Howe bridge are joined, North America’s busiest border crossing will be set for its first major expansion in nearly a century. For nearly six years, the largest bridge ever built between Canada and the United States has grown in two separate parts, extending toward each other from opposite banks of the Detroit River. In recent weeks, the vast and gracile structure has come to resemble a pair of outstretched fingers that are almost but not quite touching. Visible from miles around, the scene embodies drama and demands closure. |
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| IATA Warns of Rising Air Fares: Canadian Infrastructure Fees 'Unacceptable' | Source: OpenJaw | Peter Cerda, IATA’S Regional Vice President, The Americas, said in a presentation that Canadian airlines “face an extremely high-cost burden for air infrastructure resulting in high ticket prices, leading many Canadians to cross the U.S. border to take flights.” He also noted that the federal government charges rent to Canada’s airports, “money which is not directly reinvested into the aviation value chain.” Passengers are charged airport improvement fees through their tickets, thus funding improvements in airport infrastructure. |
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| Spirit Airlines Has No Plans To File Chapter 11 Bankruptcy | Source: TravelPulse | According to its CEO, you won’t see Spirit Airlines in bankruptcy court anytime soon. Despite the initial thoughts from airline and financial pundits following a failed merger with JetBlue Airways, Spirit CEO Ted Christie said he has no plans to end up in Chapter 11. Even though a federal judge blocked the potential merger and Spirit had a recall due to failed Pratt & Whitney engines, Christie is optimistic. |
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| Canadian Resort & Travel Association 3434 McKinley Beach Dr. #404 Kelowna, BC V1V 2R1 Canada | +1 (647) 613-5464 | [email protected] | canadianrta.org |
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