The UAE's national airline welcomed 1.7 million travellers in December. Jakub Porzycki / NurPhoto
The UAE's national airline welcomed 1.7 million travellers in December. Jakub Porzycki / NurPhoto
The UAE's national airline welcomed 1.7 million travellers in December. Jakub Porzycki / NurPhoto
The UAE's national airline welcomed 1.7 million travellers in December. Jakub Porzycki / NurPhoto

Travel unpacked: Etihad’s December passenger stats and historic hotel in Turkey to be rebranded


Evelyn Lau
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Etihad Airways has revealed its busiest month of the year, while a historic Turkish hotel is set to undergo a renovation and rebrand. Meanwhile, the world's busiest travel rush is under way thanks to the Lunar New Year.

Here's a round-up of recent travel and tourism news – in case you missed it.

Etihad Airways releases December passenger stats

The UAE’s national airline has released its traffic statistics for December, which was its busiest month of the year. It welcomed 1.7 million passengers during the month, up 22 per cent from last year (1.4 million).

Etihad carried more than 18 million guests in 2024. Chief executive Antonoaldo Neves said: “It represents an 80 per cent increase in our total passenger numbers for 2022, underlining our strong growth trajectory over the past two years.

“In December, our network continued to grow as we resumed our service to Nairobi, Kenya, and we are looking forward to starting operations to the new destinations recently announced.”

The airline last year introduced several new direct routes, among them Boston, Bali, Nairobi, Prague and Jaipur.

Record nine billion domestic trips estimated for Lunar New Year

Passengers wait for trains ahead of the Chinese Lunar New Year at a railway station in Hangzhou, China. AP Photo
Passengers wait for trains ahead of the Chinese Lunar New Year at a railway station in Hangzhou, China. AP Photo

The world’s largest annual travel surge has begun, as millions prepare for Chinese New Year celebrations and the Year of the Snake. Officials estimate that a record nine billion domestic trips will take place in China during the 40-day travel period from January 14 to February 22.

Road trips are expected to dominate, with 7.2 billion journeys projected – accounting for about 80 per cent of all travel. That is followed by train and air travel. Rail travel is predicted to hit a record 510 million trips, a 5.5 per cent increase from last year, while air travel is expected to exceed 90 million trips.

According to state broadcaster CCTV, top air travel destinations include Chongqing, Chengdu, Beijing, Harbin and Xi’an. The state railway operator reports Shanghai, Guangzhou, Shenzhen, Nanjing, Hangzhou and Wuhan as railway hotspots.

Internationally, flights to Tokyo, Osaka, Bangkok and Singapore are also in high demand, according to the civil aviation regulator.

Historic hotel in Istanbul to undergo renovation and rebrand

Accor, a French hospitality group with more than 5,600 properties in more than 110 countries, is set to take over management of The Grand Tarabya, a historic hotel in Istanbul’s Tarabya neighbourhood along the Bosphorus Strait.

One of the country’s first five-star hotels, it will become Accor’s 38th property in the Turkish city. Originally opened in 1966, The Grand Tarabya boasts panoramic views of the Bosphorus; 248 rooms; 29 residences; seven restaurants; and a wellness centre. Accor will manage the property under a white-label arrangement during an extensive renovation, after which it will be rebranded as a Fairmont hotel.

Accor currently operates more than 70 hotels in Turkey across several brands, including Raffles, Fairmont, Sofitel, MGallery, Rixos, Swissotel, Pullman, Movenpick, Grand Mercure, Novotel, Mercure, ibis Styles, and ibis.

Kyoto to raise accommodation tax in 2026

Kyoto is a popular destination for travellers to visit in Japan. Andre Benz/ Unsplash
Kyoto is a popular destination for travellers to visit in Japan. Andre Benz/ Unsplash

Local government officials in Kyoto, a popular Japanese tourist destination, have announced that the city will raise its hotel tax in 2026 to address overtourism and fund infrastructure improvements.

Under the new plan, rooms priced more than 100,000 yen ($640) will incur a tax of 10,000 yen ($63) per night, the highest rate in the country.

The increased taxes are expected to generate approximately 12.6 billion yen ($80 million) annually – more than double the current revenue. Kyoto’s mayor, Koji Matsui, said the income would be used to promote tourism and also support projects benefiting the city’s residents. This includes upgrades to roads and bridges, as well as enhanced disaster response measures.

"I want the citizens to tangibly feel that taking in tourists will improve their daily lives," said Matsui. Kyoto currently welcomes 50.28 million visitors each year, including day-trippers.

The new tax system will have five tiers. Rooms priced below 6,000 yen will be subject to a 200 yen tax, while those costing 100,000 yen or more will be subject to a maximum 10,000 yen tax.

Hilton and Peloton team up again

Hilton and Peloton are collaborating to help travellers who want to stay on top of their fitness while away from home.

Hotel guests can now access Peloton’s on-demand fitness content on their in-room TVs, and no bikes or other equipment is needed. The instructor-led workout classes include yoga, strength, barre, cardio, stretching and Pilates.

The service is now available in 2,400 hotels and builds on an existing Hilton-Peloton partnership. All 5,400 Hilton-branded hotels in the US currently have Peloton bikes in their fitness centres.

Hilton's new in-room service comes after a 2024 study from the Global Wellness Institute found that 80 per cent of guests are more likely to return to hotels offering personalised wellness services, such as tailored fitness plans and spa treatments.

Titanium Escrow profile

Started: December 2016
Founder: Ibrahim Kamalmaz
Based: UAE
Sector: Finance / legal
Size: 3 employees, pre-revenue  
Stage: Early stage
Investors: Founder's friends and Family

How Tesla’s price correction has hit fund managers

Investing in disruptive technology can be a bumpy ride, as investors in Tesla were reminded on Friday, when its stock dropped 7.5 per cent in early trading to $575.

It recovered slightly but still ended the week 15 per cent lower and is down a third from its all-time high of $883 on January 26. The electric car maker’s market cap fell from $834 billion to about $567bn in that time, a drop of an astonishing $267bn, and a blow for those who bought Tesla stock late.

The collapse also hit fund managers that have gone big on Tesla, notably the UK-based Scottish Mortgage Investment Trust and Cathie Wood’s ARK Innovation ETF.

Tesla is the top holding in both funds, making up a hefty 10 per cent of total assets under management. Both funds have fallen by a quarter in the past month.

Matt Weller, global head of market research at GAIN Capital, recently warned that Tesla founder Elon Musk had “flown a bit too close to the sun”, after getting carried away by investing $1.5bn of the company’s money in Bitcoin.

He also predicted Tesla’s sales could struggle as traditional auto manufacturers ramp up electric car production, destroying its first mover advantage.

AJ Bell’s Russ Mould warns that many investors buy tech stocks when earnings forecasts are rising, almost regardless of valuation. “When it works, it really works. But when it goes wrong, elevated valuations leave little or no downside protection.”

A Tesla correction was probably baked in after last year’s astonishing share price surge, and many investors will see this as an opportunity to load up at a reduced price.

Dramatic swings are to be expected when investing in disruptive technology, as Ms Wood at ARK makes clear.

Every week, she sends subscribers a commentary listing “stocks in our strategies that have appreciated or dropped more than 15 per cent in a day” during the week.

Her latest commentary, issued on Friday, showed seven stocks displaying extreme volatility, led by ExOne, a leader in binder jetting 3D printing technology. It jumped 24 per cent, boosted by news that fellow 3D printing specialist Stratasys had beaten fourth-quarter revenues and earnings expectations, seen as good news for the sector.

By contrast, computational drug and material discovery company Schrödinger fell 27 per cent after quarterly and full-year results showed its core software sales and drug development pipeline slowing.

Despite that setback, Ms Wood remains positive, arguing that its “medicinal chemistry platform offers a powerful and unique view into chemical space”.

In her weekly video view, she remains bullish, stating that: “We are on the right side of change, and disruptive innovation is going to deliver exponential growth trajectories for many of our companies, in fact, most of them.”

Ms Wood remains committed to Tesla as she expects global electric car sales to compound at an average annual rate of 82 per cent for the next five years.

She said these are so “enormous that some people find them unbelievable”, and argues that this scepticism, especially among institutional investors, “festers” and creates a great opportunity for ARK.

Only you can decide whether you are a believer or a festering sceptic. If it’s the former, then buckle up.

Updated: January 21, 2025, 3:15 AM