The International Air Transport Association (IATA) announced that it expects the global airline industry to make a net profit in 2017 of $29.8 billion. On forecast total revenues of $736 billion, that represents a 4.1% net profit margin. This will be the third consecutive year (and the third year in the industry’s history) in which airlines will make a return on invested capital (7.9%) which is above the weighted average cost of capital (6.9%).IATA revised slightly downward its outlook for 2016 airline industry profitability to $35.6 billion (from the June projection of $39.4 billion) owing to slower global GDP growth and rising costs. This will still be the highest absolute profit generated by the airline industry and the highest net profit margin (5.1%).

The Czech capital will welcome meetings professionals including top planners from all over the world for the 56th Congress of the International Congress and Convention Association (ICCA), which will take place between 12 and 15 November 2017. Prague Convention Bureau and other Local Host Committee representatives received the formal handover from the 2016 Congress hosts during the Congress Closing Ceremony on 16 November this year, in Kuching, Malaysia, symbolised by the passing over of the ICCA Congress flag. Delegates were treated to world-class opera singing from Martin Matoušek, a short introduction on why Prague has become one of Europe’s top meetings destinations, and an authentic Czech lunch menu, to introduce them to some of the delights that will await them at the 2017 Congress.

2016 was no slouch of a year for the meetings industry nor, indeed, for the world at large. Dramatic forces were at play and many of us shared a sense that, even if we wanted to grasp the pace or nature of change taking place, we barely had the time or the head space to do so. 2016 was pivotal – and it felt like it.Looking ahead to 2017, IMEX has identified five trends which, starting at A and ending at Z, are anything but simple or linear in the impact they’ll have on the meetings and events industry. In fact, we already predict that by 2018 ‘clarity’ will be the watchword of the moment.

Marriott recently began the gargantuan task of streamlining the categorization of its many branches. Amid customer confusion over the identity of their now 30 brands, Marriott has started dividing its hotels, residences and condominiums into different sections.The brands fall under four broader umbrellas: Luxury, Premium, Select and Longer Stays. Luxury is the most high-end section and offers “bespoke and superb amenities and services” and contains brands under the following headings: Classic Luxury (Ritz-Carlton, St. Regis), Distinctive Luxury (BVLGARI, W Hotels, Edition).

Banyan Tree Holdings today announces that it has entered into a heads of agreement with AccorHotels. Under a long-term partnership, both parties intend to collaborate to develop and manage Banyan Tree branded hotels around the world. Banyan Tree will also have access to AccorHotels’ global reservations and sales network, as well as its loyalty programme Le Club AccorHotels. AccorHotels will invest an initial SGD 24 million (c. €16 million) in Singapore-based Banyan Tree and both parties will then co-develop the brands owned by Banyan Tree around the world. This investment will be made through a mandatory convertible debenture that at conversion will give AccorHotels an approximately 5% stake in Banyan Tree. AccorHotels has an option to purchase an additional approximately 5% stake.

Thailand launches ‘Bleisure’ Destination and Promotional Campaign for EU MICE travelers. The Thailand Convention and Exhibitions Bureau has launched its latest and most ambitious global communication campaign, entitled “Thailand CONNECT Your Vibrant Journey to Business Success”, promoting Thailand as an Ideal Bleisure Destination at the heart of ASEAN, and a leading global destination with unsurpassed standards of service, venues, facilities and leisure opportunities. The campaign targets the country’s long-haul market, and aims to attract more business events from EU to Thailand. The campaign is being launched at IBTM World, Barcelona 2016 to international MICE delegates and media representatives from all over the world.