Breaking Travel News interview: Morten Andersen, general manager, Signiel Seoul

With the Evian Spa at Signiel Seoul having been recognised as one of the best in Asia by voters at the World Spa Awards, Breaking Travel News chats to hotel general manager, Morten Andersen, to find out more

Breaking Travel News: Congratulations - Signiel Seoul Evian Spa has been honoured with the title of South Korea’s Best Hotel Spa at the World Spa Awards. How does it feel to have taken the prestigious title?

Morten Andersen: It is a great pleasure and honour for Signiel Seoul’s Evian Spa to be named South Korea’s Best Hotel Spa at World Spa Awards.

Our executives and employees of each department have made great efforts to win this award and thus, we are very proud of what we have accomplished altogether.

We also believe it is because customers who experienced Evian Spa were fully satisfied with the facilities and services that we were able to achieve this valuable result.

BTN: Can you tell me a little about the brand – what is on offer to the wellness traveller there in the capital of South Korea?

MA: Signiel is a premium landmark hotel brand introduced by Korea’s largest hotel group, Lotte Hotels & Resorts.

Signiel Seoul is the first hotel under the Signiel brand, and is the highest-rise hotel in Korea.

Its rooms are individually designed to reflect Korean aesthetics along with panoramic skyline and river views of the city.

In sync with such world-class facilities, Signiel Seoul’s dining is a paradise for epicures as a gourmet hotel. Signiel Seoul is the one and only hotel in South Korea which obtained a Michelin star for two of its restaurants - “Stay, Modern Restaurant” by chef Yannick Alléno and “Bicena”.

Evian Spa is also in Signiel Seoul - the third branch in Asia.

Signiel is defining the dimension of luxury, service, and value associated with excellence beyond imagination.

The hotel seeks to become the place where one dreams of staying at least once in one’s lifetime, a chance to live beyond expectations.

BTN: How useful are the World Spa Awards when it comes to promoting the brand in the global hospitality space?

MA: Signiel Seoul actively participates in travel industries all around the world, and the award has given us another chance to enhance our brand awareness on a global scale.

We are confident that visits to Signiel Seoul through Evian Spa will increase more in the future.

BTN: This has been a challenging year for hospitality everywhere – what ambitions do you have for a revival as we move into 2021?

MA: Currently, domestic travel is more active than ever in South Korea, and the demand for premium brands such as Signiel has highly increased to meet the trend referred to as ‘hocance’ - (a portmanteau of hotel and vacation).

We will do our best to satisfy all guests visiting Signiel Seoul with more diverse and unique promotions and services.

Furthermore, as a premium landmark hotel brand representing South Korea, Signiel Seoul will faithfully serve as a venue for VIP events.

It goes without saying that by 2021, global situation concerning Covid-19 is hoped to improve so that guests outside the country are able to have more opportunities of experiencing Signiel Seoul.

More Information

Conceived as a living multi-sensory entity entirely dedicated to wellness, Evian Spa Seoul offers a unique experience of premium hydration in a relaxing environment.

Mimicking the cycle of water, the course of treatments explores all states of water to stimulate every senses.

Find out more on the official website.

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Accor reopens hotels as Covid-19 peak passes

Hotel giant Accor has seen revenue fall by 52 per cent in the first six months of financial 2020.

In total the company took in £826 million over the period, while earnings before interest, taxes, depreciation and amortisation (EBITDA) fell into -£204 million.

Sébastien Bazin, chief executive of Accor, said: “The shock that our industry is experiencing is both violent and unprecedented.

“Against this backdrop, we have managed to limit the impact of the crisis: on our performance by taking immediate steps to protect our resources and, thanks to the group recent years transformation and our sound financial structure; on our employees by implementing concrete and immediate support measures.

“The peak of the crisis is undoubtedly behind us, but the recovery will be gradual.”

In response to the crisis, the biggest hotel group in Europe plans to cut 1,000 jobs as part of a £180 million per year cost saving plan.

Accor hopes to reduce costs by 17 per cent compared with 2019.

“Having taken these emergency steps, we must now finish the job from an asset-light model to a full asset-light company,” added Bazin.

“Beyond Covid-19, this is essential.

“Accor must become simpler, leaner, more agile and even closer to the field.

“These initiatives will enable us to extend our leadership, make our decision process more efficient and boost our recovery.”

Accor runs high-end chains such as Raffles and Sofitel, as well as budget brands such as Ibis.

In more positive news, the company said that 81 per cent of its hotels were now open and that it had a solid liquidity position of more than £3.6 billion at the end of June.

Bulgari Resort Dubai to open in December

Bulgari Hotels & Resorts will welcome the opening of Bulgari Resort Dubai on December 7th; an urban oasis on Jumeira Bay.

An ultimate urban resort, Bulgari Resort Dubai is part of The Bulgari Resort & Residences Dubai, developed by Meraas, a leading Dubai-based holding company.

Located on the magical seahorse shaped island, it is set to become the destination of choice for visitors seeking the solitude of an island escape, the residential feeling of a private house, yet situated just minutes from the heart of the vibrant city and its cultural attractions.

“The Bulgari Resort & Residences Dubai is another milestone for the Bulgari Hotels & Resorts collection and represents a tribute to the importance of the Middle East market for the Bulgari brand.

“It is an honour for us to partner with Meraas on this extraordinary project, which brings the best of the Italian design and lifestyle culture to one of the most modern and future oriented city in the world,” said Jean-Christophe Babin, chief executive, Bulgari.

This newest addition to the Bulgari Hotels & Resorts collection is the fifth in the group, following on from the most recently launched Bulgari Hotel Beijing, which opened in September 2017.

As with all Bulgari Hotels & Resorts, Bulgari Resort Dubai was designed by renowned Italian architectural firm Antonio Citterio Patricia Viel.

Both the interiors and exteriors have been created with the same detail and precision of a Bulgari jewel: pairing rare, raw materials according to colour, texture and feel, and sculpting them into objects of enduring beauty. 

The resort includes 101 hotel rooms and suites and 20 hotel villas, all exquisitely furnished with the highest quality Italian luxury furniture brands such as Maxalto, Flos, Fexform and others, in an expression of the quality of Made in Italy.

All rooms and suites have expansive views over the breathtaking Dubai skyline or the Arabian Gulf, with large balconies to truly soak up the magnificent scenery.

Commenting on the completion of Bulgari Resort Dubai, Abdulla Al Habbai, Meraas Group chairman, said: “We are proud to deliver The Bulgari Resort & Residences Dubai, a first-of-its-kind master development in scale and magnitude for Bulgari.

“Our partnership stems from shared values and a common objective to offer unique and exquisite experiences in Dubai and the region. 

“We are confident this project will contribute and will add a new dimension to the tourism and hospitality landscape in-line with the Dubai Vision 2020 for tourism and strengthen Dubai’s global position as a leading tourism destination.”

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Germany and Sweden removed from UK quarantine safe list

Passengers arriving in the UK from Germany and Sweden will need to self-isolate for two weeks before then following domestic rules after changes in government Covid-19 restrictions.

Arrivals from the two countries will need to self-isolate from 04:00 on Saturday.

Germany and Sweden have been removed from the travel corridor list following an increase in confirmed cases of coronavirus.

Data from the Joint Biosecurity Centre and Public Health England has indicated a significant change in both the level and pace of confirmed cases of coronavirus in both destinations, leading to ministers removing these from the current list of travel corridors.

There has been a consistent increase in Covid-19 cases per 100,000 of the population in Germany over the past four weeks, with a 75 per cent increase in total cases over this time period.

In Sweden, new cases per week have increased by 34 per cent over the same time period.

People currently in Germany and Sweden are encouraged to finish their trip as usual, following the local rules and checking the Foreign, Commonwealth & Development Office (FCDO) travel advice pages for further information.

In England, everyone must currently stay at home, and may leave only for a very limited set of reasons, including for work or education.

This means people can no longer travel to take holidays, or travel internationally – unless for work or other legally permitted reasons.

The FCDO has updated its travel advice to reflect this.

At the same time, Denmark has been immediately added to the quarantine list, with passengers arriving from the country expected to stay at home for two weeks from today.

“I understand that this will be concerning for both people currently in Denmark and the wider UK public, which is why we have moved quickly to protect our country and prevent the spread of the virus to the UK,” explained minister for transport, Grant Shapps.

“Health authorities in Denmark have reported widespread outbreaks of coronavirus (Covid-19) in mink farms, with a variant strain of the virus spreading to some local communities.

“The chief medical officer has therefore recommended that, as precautionary measure, all those returning from Denmark should self-isolate for 14 days.”

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ABTA offers Brexit guidance on Tour Operator Margin Scheme

Following discussions with ABTA, HMRC has confirmed that once the transition period ceases on January 1st, the VAT charged on holidays through the Tour Operator Margin Scheme (TOMS) on travel outside of the UK will be zero rated.

This will remove an area of uncertainty on a crucial issue for many ABTA members and has been agreed by HMRC on the assumption of a possible no deal with the EU on TOMS.

In the event of a no deal being reached with the EU on TOMS, a new UK version will be introduced which will require payment of TOMS VAT only on UK holidays but not on package holidays within the EU.

A guidance note for ABTA Members has been agreed with HMRC, which provides further information and details in respect of transitional issues.

The information is available to ABTA members here.

One area of uncertainty remains, that in the longer term there might be a requirement to register for VAT with individual EU states.

The note will be updated as and when there is more clarity in this area and members will be informed through ABTA Today and the trade press if there any other further developments.

Carolyn Watson, ABTA director of finance and operations, said: “The confirmation by HMRC that post Brexit packages within the EU will be zero rated for TOMS is great news for many of our members.

“We were pleased to be able to work closely with HMRC on this important matter and I thank HMRC for its understanding of how serious this issue is for many travel companies and its action to remove this area of uncertainty.

“This will greatly assist Members as they look to rebuild travel with our most important holiday destinations, the majority of which are within the EU.”

She added: “However, I would stress that one area of uncertainty still remains; in the longer term the possible need to register for VAT purposes within individual EU state.

“We will let members know when the position on this becomes clearer.”

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TUI Group secures a further €1.8 billion in emergency funding

Holiday giant TUI has reached an agreement with various partners on a further financial rescue package of €1.8 billion.

The deal includes the German Economic Support Fund (WSF), KfW Entwicklungsbank (KfW), commercial banks and the company’s largest single shareholder Unifirm.

TUI said it was taking further precautions in view of the rising number of infections since autumn, strict travel restrictions in many countries and the resulting shorter booking times of customers.

The financial package is intended to ensure that the company can bridge the gap if the pandemic persists in 2021.

Following the first reports of vaccine successes, TUI added it expects the pandemic situation to improve in the course of the first half of 2021, leading to a greater return of holiday travel.

Fritz Joussen, chief executive of TUI, explained: “Before the Covid-19 pandemic, TUI was a very healthy company.

“The market is intact; the demand is there.

“But we have not been able to generate any significant revenues since March.

“Our integrated business model allows us to react very flexibly to short-term changes in the pandemic situation, just as we successfully ramped up our travel programme for a few weeks in July after the first wave.

“People want to travel; tourism remains a growth industry and an important sector for stabilising the southern euro area.”

The package consists of silent participations of the WSF, a further credit line of the KfW, guarantees and a capital increase with subscription rights, which is to be resolved at an extraordinary general meeting of TUI in January.

The Mordashov family, owners of Unifirm, have made a long-term strategic investment in TUI and has agreed to participate in the capital increase with its company.

Joussen added: “The financial package provides the security to look consistently ahead and to prepare the group strategically and structurally for the time after the pandemic.

“With these measures, the group is securing liquidity for a continuing pandemic in 2021, while at the same time improving our balance sheet structures in the long term.

“The overall package of different financing from various partners shows the broad confidence of all parties involved in the future of tourism and the TUI Group”.

Including the additionally agreed financial package, TUI AG had financial resources and credit facilities of €2.5 billion as of November 30th.

Earlier in the year, TUI Group secured €3 billion in funding in two separate tranches from the German government.

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Airbnb seeks $35bn valuation for stock market flotation

Home rental giant Airbnb is hoping to raise $2.5 billion in a long-awaited initial public offering.

The company had toyed with going public earlier in the year, but the plans were derailed by the Covid-19 pandemic.

Airbnb was forced to cut its workforce by a quarter and raise additional capital to get through the downturn.

However, with confidence returning to the hospitality market, chief executive Brian Chesky has decided the time is now right.

The company is expected to be valued at almost $35 billion in a New York stock exchange listing on December 9th.

The business has set the price range of its float at between $44 and $50 per share as it gears up to sell almost 52 million shares.

The San Francisco-based accommodation booking service recorded losses of almost $700 million on revenues of $2.5 billion in the first nine months the year, widening from losses of $323 million in the same period in 2019.

Airbnb suffered a $576 million loss in the second quarter as the Covid-19 pandemic hit the travel industry.

However, the company rebounded to a profit of $219 million in the third quarter covering the summer period, helped by a rise in US domestic travel.

For comparison, rival Marriott International currently has a market capitalisation of around $41 billion.

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