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The big news that greeted the travel retail industry this morning was Dufry‘s announcement that Chinese travel conglomerate HNA Group had acquired a 16.79% stake in the Swiss travel retailer.
According to published reports, the Chinese travel giant has also agreed to purchase a share in the RIOgaleão consortium that manages Brazil’s Rio de Janeiro international airport, taking over the stake owned by engineering firm Odebrecht. Read both stories on page 1, Inside Insider.
Chinese tourists are making their presence felt around the world, spending 12% more in 2016 than the year before for a total of US$261 billion, reports UNWTO. This is more than double the $122 billion spent by U.S. residents traveling abroad, the #2 tourism source market. More details begin on page 1.
Martin Eurnekian has been named president of Argentine airport manager AA2000. Page 3.
Remy Cointreau and William Grant & Sons announce key travel retail appointments. Page 1.
IAADFS Duty Free Show of the Americas review.
Although the 2017 Orlando event appeared quieter than in the past, exhibitors report surprisingly strong results. The Gala: the industry turns out for a touching tribute to the late Pancho Motta, who served as IAADFS president for 16 years. Page 2.