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CHI Hotels & Resorts: 'Bridging The Difference' in Prague
Wednesday, August 27, 2008
CHI Hotels & Resorts (formerly Corinthia Hotels International) recently held its annual International Financial Controllers Conference at the five-star Corinthia Hotel Prague in the Czech Republic.

Directors of Finance and Senior Executives from the Company's head office in Malta and hotels in the Czech Republic, The Gambia, Hungary, Libya, Malta, Portugal, Russia and Tunisia, attended the three-day event that had 'Bridging The Difference’ as its main theme.

The conference was addressed by CHI Hotels & Resorts Chairman Joe Sita and the Company’s Chief Executive Officer and Managing Director Tony Potter, who gave details on the Company’s future vision and growth plans. A number of topics of general interest and others of specific interest to finance personnel were presented by various internal speakers, led by CHI's Chief Financial Officer and Administration Director Paul Bugeja.

Prompted by the title 'Bridging the Difference’ the conference discussed CHI’s new role as a multi-brand hotel operator following its joint venture agreement with the US based Wyndham Hotel Group and how this development impacts the financial protocol, policies and procedures of the company. Besides continuing to operate the luxury Corinthia Hotels brand worldwide, CHI is now also the exclusive operator of the Wyndham and Ramada Plaza brands in Europe, Africa and the Middle East.

Other topics on the conference agenda included corporate governance, job motivation, internal audits, cash flows, reporting processes, operation results for 2008 and business plans and targets for 2009.

Guest speaker topics included Sun Accounting Systems by Computime Malta, Insurances by AIG Memsa of Dubai and a lecture on leadership, assertiveness, and presentation skills by Maltese management consultant Paul Gauci.

The conference also served as an opportunity for all participants to meet on a social level and also experience the many attractions that Prague has to offer. Special thanks go to Air Malta for their assistance in supporting the conference.

Vicky Karantzavelou - Wednesday, August 27, 2008
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Poll
How do you expect luxury travel to perform in times of economic downturn?.

Providers of luxury travel products are going to witness shorter stays by their customers and an increase in seasonality.

People are going to become more value conscious and will opt for those luxury offers that represent a convincing value-for-money proposition. Providers of overpriced services are those to feel the pinch.

Both people paying for their personal trips and firms paying for their top executives' business trips will cut back on travel expenses, thus affecting all luxury travel providers.

It is going to be business as usual. Those people opting for high-end travel products are not going to be affected by the looming crisis.

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