Northeast travel restrictions add to small business owners’ struggles

Every year, more than 20 million visitors flock to Boston’s Faneuil Hall Marketplace, which, after being closed for several months, reopened July 1.

But for the first time in its nearly 300-year history, it’s largely empty.

“There is no foot traffic,” business owner Sara Youngelson told ABC News. “It is so far and few between, it’s just been really, really tough.”

For Youngelson, who owns five businesses in the Faneuil Hall and Quincy Market area, the past five months have been some of the most difficult of her 30-year career as a merchant in the historic marketplace

Many merchants and shop owners across the Northeast were optimistic that reopening later in the summer could help offset economic damage caused by the pandemic, but with newly instated state travel restrictions affecting tourism, many are no longer as hopeful.

PHOTO: Visitors walk outside Faneuil Hall Marketplace, one of Boston’s most popular

Read More

Preparing For A Big Drop

For much of the first half of this year, consumers stuck at home as the coronavirus circled the globe. Many people only dreamed of taking off to faraway lands or cruising across oceans and seas to exotic locales, while the industry that provided those services saw its own dreams turn into nightmares.

Domestic travel spending in the U.S. is on track to crash some 40% year-over-year to $583 billion from $972 billion last year, according to a recent U.S. Travel Association-commissioned report. That comes as domestic trips taken by U.S. residents dip to 1.6 billion, a 30% drop from last year and logging the lowest figure since 1991—another recession year—the group noted.

And that doesn’t include the pandemic-induced fallout from the international side. “International inbound spending is expected to freefall a whopping 75%,” landing at about $39 billion from $155 billion a year ago, according to the research by Tourism

Read More

Edited Transcript of CPG.L earnings conference call or presentation 19-May-20 7:00am GMT

Chertsey, Surrey Jul 6, 2020 (Thomson StreetEvents) — Edited Transcript of Compass Group PLC earnings conference call or presentation Tuesday, May 19, 2020 at 7:00:00am GMT

UBS Investment Bank, Research Division – MD, Head of the Travel & Leisure Sector and Co-Head of the Global Transport Sector Team

One Investments S.A.G.L. – Analyst

* Richard J. Clarke

Sanford C. Bernstein & Co., LLC., Research Division – Research Analyst

Joh. Berenberg, Gossler & Co. KG, Research Division – Senior Analyst and Head of Business Services, Leisure & Transport,

Thank you very much, and good morning. I’m joined this morning by Karen Witts, our CFO. Before opening the call to questions, I’d like to say a few words on the results and the placing.

We came into this pandemic on the back of our strongest performance in many years. As you know, we grew 6% organically over the past 2 years, and … Read More

The most dramatic solar eclipse in a decade will be visible this weekend

On June 21, a rare “ring of fire” will be visible in Africa, Asia and the Middle East. It will be the shortest and deepest solar eclipse in 2020, reports Travel + Leisure.

The “ring of fire” is a partial solar eclipse that occurs when a new moon is furthest away from Earth in its orbit, so it doesn’t cover the sun completely. Essentially, it’s the opposite of a “supermoon.” The sun will be 99 percent obscured (hence the name), almost like a total solar eclipse.

Unlike other solar eclipses, however, it’s expected to go dark before the “ring of fire” is visible. Experts also anticipate bizarre animal behavior leading up to that moment and some points of light around the moon called Bailey’s beads. This is also a special event because it’s possible people will be able to witness the sun’s outermost atmosphere: the corona, which

Read More