Christian Sewing, Chief Executive Officer, said: “We are on a good track both in the DWS asset management business and in our Private & Commercial Bank, although we need to substantially improve profitability in both. Our Corporate & Investment Bank is also doing well in some areas and held or gained market share in certain areas. However, we are not strong enough in other areas of this business. Therefore we have to act decisively and to adjust our strategy. There is no time to lose as the current returns for our shareholders are not acceptable.”
Deutsche Bank (XETRA: DBKGn.DE/NYSE: DB) reported income before income taxes of 432 million euros, versus 878 million euros in the first quarter of 2017. Net income was 120 million euros, versus 575 million euros in the prior year period.
Revenues were down slightly, and were impacted by exchange rate movements. In the first-quarter of 2018, net revenues were 7.0 billion euros, down 5% versus the prior year period. The year-on-year development was primarily driven by exchange rate movements, notably the appreciation of the euro against the US dollar, and lower revenues in the Corporate & Investment Bank. The prior year quarter was negatively impacted by Debt Valuation Adjustments.
Adjusted costs were essentially stable, and up slightly on an FX-adjusted basis. Noninterest expenses were 6.5 billion euros in the quarter, up 2% versus the prior year period. Adjusted for exchange rate movements, noninterest expenses were up 6%. Adjusted Costs were 6.3 billion euros, essentially unchanged on a reported basis, and up 4% taking account of exchange rate movements. Current -quarter adjusted costs included bank levies of 0.7 billion euros.
Bank levies increased by 124 million euros or 23% year-on-year, mainly driven by industry-wide higher annual contributions to the Single Resolution Fund, for which the full-year estimate is recorded in the first quarter. IT costs were higher by 86 million euros, or 118 million euros on an exchange rate adjusted basis, driven by depreciation charges on self-developed software, IT investments in the Private & Commercial Bank and investments to modernise IT infrastructure. Compensation and benefits expenses were slightly lower, as lower headcount and lower retention accruals more than offset wage inflation.
Credit quality remained strong. Provision for credit losses of 88 million euros declined by 34% versus the prior year quarter, partly reflecting releases in the Corporate & Investment Bank, driven primarily by favourable developments in the shipping segment.
The capital ratio remains solid. The Common Equity Tier 1 (CET1) ratio was 13.4% at the end of the first quarter, versus 14.0% at the end of 2017. CET1 capital declined by 1 billion euros, or 0.7 billion euros net of FX, largely due to adjustments including the treatment of irrevocable payment commitments to the Single Resolution Fund, adoption of the IFRS 9 accounting standard, and a number of other smaller movements. These were partly offset by a capital benefit from the partial initial public offering of DWS. Risk weighted assets (RWA) rose by 10 billion euros to 354 billion euros in the quarter, principally driven by business-related RWA growth in the Corporate & Investment Bank, together with a rise in market risk RWA against a backdrop of higher market volatility. The leverage ratio (CRR/CRD 4 fully loaded) was 3.7%, compared to 3.8% at the end of the fourth quarter of 2017.
Progress on the execution of strategy during the first quarter of 2018
The bank made progress with the implementation of its strategy in a number of areas during the quarter. The initial public offering of the asset management business, DWS, was successfully completed in March, only a year after its announcement. The bank continued to focus its geographic perimeter, reaching agreement on the sale of retail operations in Portugal, following the announcement in the previous quarter of the partial disposal of the bank’s Polish retail operations.
The integration of Postbank and Deutsche Bank’s Private & Commercial Clients business in Germany is proceeding on schedule. The bank has now received confirmation from the European Central Bank that the merged entity may apply the capital waiver permitting more efficient liquidity management for Deutsche Bank. Progress was also made on securing other approvals for the merger from the German authorities which are expected during the second quarter.
First-quarter revenue development in Deutsche Bank’s businessesCorporate & Investment Bank (CIB): Revenues were 3.8 billion euros, down 13% year-on-year. Revenues in all business units were lower year-on-year. This development was partly impacted by specific effects, including exchange rate movements, changes in funding allocation methodology introduced in the second quarter of 2017, and one-time items in both the current quarter and prior year period. These were partly offset by the positive year-on-year impact of debt valuation adjustments. Excluding these items, revenues declined 11% year-on-year.
In our Sales & Trading businesses, Fixed Income and Currencies (FIC) revenues were down 16%, or 12% when adjusted for the specific effects mentioned above, versus a relatively strong prior year period. Equity Sales & Trading revenues declined 21% on a reported basis but were broadly flat year-on-year when adjusted for specific effects mentioned above, which included a one-time gain on the sale of a stake in BATS, the stock exchange operator, of approximately 80 million euros in the prior year quarter.
Global Transaction Banking revenues declined by 12%, partly reflecting the exchange rate impacts and changes in funding allocation methodology mentioned above, with Cash Management revenues impacted by earlier perimeter reductions. Revenues in Origination & Advisory were down 27% year-on-year against the backdrop of a decline of approximately 25% in euro terms in the industry fee pool versus the prior year period (source: Dealogic).
Private & Commercial Bank (PCB): Revenues were 2.6 billion euros, down 2% year-on-year on a reported basis. This development was largely attributable to specific one-time gains in the prior year quarter, which exceeded the net positive impact of specific items in the first quarter of 2018 by approximately 80 million euros. The prior year quarter saw positive impacts related to the workout of legacy positions in Sal. Oppenheim and the sale of Private Client Services. The current quarter saw a gain from a property sale within Postbank, offset by negative impacts from the agreements related to the sale of the Portuguese operations and partial sale of the Polish operations. When adjusted for these items, revenues were essentially stable year-on-year as higher loan revenues offset the ongoing impact of lower interest rates as well as the impact of the implementation of MiFID II.
Asset Management (AM): The Asset Management segment now consists almost entirely of the business of the majority owned subsidiary DWS. The results of the Asset Management segment, however, include certain items which are not part of the public company, DWS, whose results are published separately today. Asset Management revenues were 545 million euros, 10% lower year-on-year. This development was partly driven by exchange rate movements, a loss related to the sale of the German private equity business in the current quarter, and the non-recurrence of revenues in the prior year period from disposals of non-core businesses. Adjusting for these items, revenues declined 3% year-on-year.
The segment reported net asset outflows of 8 billion euros, attributable mainly to outflows of predominantly low-margin assets, specifically redemptions from two clients: a US client repatriating balance sheet investments to the US following the implementation of US tax reform and a redemption from a European insurance client. Assets under management declined 3% during the quarter, reflecting net outflows together with foreign exchange and market impacts. In Europe, DWS ranked second in inflows of exchange traded products in the quarter with inflows of 3.6 billion euros (Source: ETFGI).
Note: for exchange rate-adjusted year-on-year comparisons, prior year figures are recalculated using the corresponding current year’s monthly FX rates.
The complete media release is available in the download area:
Details on our quarterly results on our IR page
An analyst call to discuss first-quarter 2018 financial results will take place today, Thursday, 26 April 2018, at 08.00 CEST. This conference call will be transmitted via internet: www.db.com/quarterly-results
A Fixed Income investor call will take place on Wednesday, 2 May 2018, at 14.00 CEST. This conference call will be transmitted via internet:
www.db.com/bondholder-presentations
An Interim Report, a Financial Data Supplement (FDS), presentation and audio-webcast for the analyst conference call are available at: www.db.com/quarterly-results
The Deutsche Bank Pillar 3 Report, March 2018 (produced on a quarterly basis from now) as well as the “Disclosures for Global Systemically Important Institutions (G-SIIs) 2017” are both published today and are available at: www.db.com/regulatory-reporting
This document contains non-IFRS financial measures. For a reconciliation to directly comparable figures under IFRS, to the extent not provided herein, please refer to the Financial Data Supplement.
About Deutsche Bank
Deutsche Bank provides commercial and investment banking, retail banking, transaction banking and asset and wealth management products and services to corporations, governments, institutional investors, small and medium-sized businesses, and private individuals. Deutsche Bank is Germany’s leading bank, with a strong position in Europe and a significant presence in the Americas and Asia Pacific.
This release contains forward-looking statements. Forward-looking statements are statements that are not historical facts; they include statements about our beliefs and expectations and the assumptions underlying them. These statements are based on plans, estimates and projections as they are currently available to the management of Deutsche Bank. Forward-looking statements therefore speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.
By their very nature, forward-looking statements involve risks and uncertainties. A number of important factors could therefore cause actual results to differ materially from those contained in any forward-looking statement. Such factors include the conditions in the financial markets in Germany, in Europe, in the United States and elsewhere from which we derive a substantial portion of our revenues and in which we hold a substantial portion of our assets, the development of asset prices and market volatility, potential defaults of borrowers or trading counterparties, the implementation of our strategic initiatives, the reliability of our risk management policies, procedures and methods, and other risks referenced in our filings with the U.S. Securities and Exchange Commission. Such factors are described in detail in our SEC Form 20-F of 16 March 2018 under the heading “Risk Factors”. Copies of this document are readily available upon request or can be downloaded from www.db.com/ir.
Just as improvements to the steam engine transformed societies during the Industrial Revolution, quantum leaps in mobile technology are redefining our experiences in the Information Revolution. From the way we work, play, learn, and even love, almost everything we do revolves around smartphones, tablets and wearable devices.
All signs show that our reliance on mobile technology will continue to grow exponentially. By 2025, it’s estimated that the average person will interact with connected devices once every 18 seconds.1 At Samsung, we call this oncoming transformation the Next Mobile Economy.
History tells us that in order for a technological revolution to occur, businesses and organizations of all sizes must adapt to its demands. Samsung is dedicated to help prepare companies of all sizes seize opportunities and overcome the challenges that come with a constantly-evolving mobile landscape. This is why we presented our vision of the Next Mobile Economy at TED2018: The Age of Amazement in Vancouver, Canada to kickstart a global conversation on its implications and potentials.
An Open Vision: Experience New Mobile Economy at Social Space
Samsung showcases Next Mobile Economy via Social Space at TED2018. (Lawrence Sumulong/TED)TED2018 participants sharing ideas at Social Space. (Lawrence Sumulong/TED)Social Space offers hands-on experiences with Samsung’s mobile devices. (Lawrence Sumulong/TED)
At its core, the Next Mobile Economy is about transforming businesses by pushing the boundaries of how we work. This begins with businesses and organizations embracing openness in mobile solutions throughout four key pillars that make up the Next Mobile Economy – a goal which led Samsung to set up Social Space at TED2018, an interactive area designed to foster discussions.
Open Yet Secure
In the Next Mobile Economy, businesses will see an unprecedented increase in the speed and volume of data transactions. While this will enable more seamless operations, it also leaves companies at risk of security breaches and leaks.
Open Yet Controlled
Prevention starts with finding mobile solutions that are open yet controlled and secure. These systems will allow IT managers to update and configure mobile devices remotely, while ensuring sensitive data is protected from potential cyberattacks.
Open Customization
While delivering bespoke services is widely recognized as a key to success, few companies consider customizing their internal and B2B technologies as equally important. But relying on off-the-shelf software and systems will be insufficient in the Next Mobile Economy, as businesses which implement tailored solutions from top to bottom will have a head start.
Open Collaboration
To develop customized mobile solutions and future-ready systems, companies need to establish open collaboration with their technology partners. The principle of open collaboration also has to extend to the technological tools in future workplaces. Equipping workers with mobile devices which encourage collaboration will be vital in creating greater flexibility and enhancing efficiency.
Beyond a Slogan: New Mobile Economy in Action
The ideas and values of the Next Mobile Economy may seem far-fetched for some. But a closer look at the burgeoning mobile ecosystems at leading companies and organizations shows that the paradigm shift is already happening, generating transformative results.
One such example is the Mobile Policing Program launched by the Surrey & Sussex Police Force in the UK.
This police force worked closely with Samsung as its mobile partner to tailor, integrate and roll out secure mobile devices for police officers, which in turn are a vital means of collaborating in-field. Through these devices, the force reports improved sharing of vital information between county control rooms and officers on duty, emphasizing the future benefits such a collaborative approach could provide UK-wide policing.
“Our mobile program has allowed greater co-operation between forces and means we can utilize our officers more effectively,” Shane Baker, Chief Inspector and head of digital transformation for Surrey & Sussex Police explains. “We see mobile as the tool to further unify and collaborate on the front line, bringing police forces together to ensure the public’s safety and experience of the police is joined up across the UK.”
Both now and in the future, the control of certain enterprise mobile devices will be paramount to public safety.
“Control of our mobile devices is absolutely important for us, given the nature of what we do,” states Baker. “We have had devices lost in the field and through using EMM systems such as Samsung Knox, we have been able to remotely wipe devices to ensure information and data isn’t released to the public.”
For Chief Inspector Baker and his police colleagues, the additional layer of control provided by Samsung Knox has instilled greater confidence to use mobile devices in the field, enabling police officers to make more informed decisions at critical moments, with the knowledge that their devices are protected should they be damaged, lost or stolen.
A Mobile Future: Solving Challenges and Creating Opportunities
While the foundations of the Next Mobile Economy are firmly in place, there are still more questions than answers on where the latest phase of digital revolution could take us. Only a multi-disciplinary global dialogue can help us maximize the full potential of this transformation.
At TED2018, Samsung began laying the groundwork for such a platform. Gathering dozens of leading figures in key global industries, we led a three-day workshop to explore the use of mobile technology to solve problems and create opportunities.
Through hours of engaging dialogue, the workshop generated fascinating insights on the future of New Mobile Economy in a wide-range of fields. Participants from the healthcare sector, for example, saw the potential of cloud technology to improve the accuracy and speed of gathering patients’ medical history. Artificial intelligence, meanwhile, could be used to analyze and improve urban traffic management.
At the same time, the workshop served as a timely reminder that the Next Mobile Economy is still very much a work in progress. Debates raged on over potential technical and ethical problems that could arise from greater reliance on mobile technology. Control over information accuracy, the global digital divide and sources of funding for mobile infrastructure were among a long list of issues tackled during discussions.
All technological revolutions are a product of collective actions, and the success of the New Mobile Economy will be no different. The conversations at Samsung’s Social Space and workshops are only the beginning of realizing a mobile future.
To learn more about the Next Mobile Economy, please visit this link.
Emirati Artist Sarah bin Hendi’s fascinating painting exhibition ‘Colours of My Life’ at FN Designs promises to take viewers on a walk around a garden full of flowers. Opening for public on 2nd May 2018, the two-day exhibition is the young artist’s first solo show in Dubai and absolutely spectacular in every aspect. Featuring 23 paintings themed on ‘Modern Abstraction combined with Pop Art’, the collection is a kaleidoscope of colours.
Commenting on the intoxicating mix of colours, Sarah, said: “In my exhibition I want to show the viewers how color can affect their mind and soul, so they would live and feel a different and unique experience when they see my paintings. The purpose is to activate and motivate their imagination while examining each painting. More specifically, I want them to feel how each different combination of colors and brush strokes can attract their attention and make them feel the colors rather than just see them. I believe that colors have a tremendous effect on our lives.”
Sarah’s works are a psychedelic mix of different shapes and sizes. Elaborating on her style she said, “I hope I can introduce a new method on how to not just see artworks but feel the energy instead. In my paintings I always put and place the different shapes in a certain way, sometimes they’re connected or aligned and at other times they’re just flowing freely in the painting interacting with my color mixtures and brush strokes.”
Sensorially rich and immersive, each painting in Sarah’s collection has a story to tell. She stressed, ” the different organic shapes and flowers in my paintings have their own meanings and stories in my works, but in my exhibition, I want the visitors and viewers to make their own stories and interpretations based on what they see and feel, so everyone would interact differently with each painting of mine.
There is a lot to see and buy at the exhibition. Despite a common theme, each painting is unique with a drastic difference in scale of density. While some are simple others are complicated constructs of colour and pattern. Flowers are the centerpiece in many. Talking about the inspiration behind her beautiful works, Sahar revealed, “I got my inspiration from the different experiences I went through in my life, and the interactions I had with some people who touched my heart and soul in a very deep way emotionally and artistically. So, I would say my art is the result of these emotional experiences combined with my imagination and personal interpretation of these interactions. Colors, flowers and a variety of organic shapes are main elements in my paintings. They symbolize various meanings and feelings to me. Flowers are the most dominant elements in my artworks, because I consider them as the strongest symbols of emotions and I always associate them with people.”
Sarah is a Bachelor of Fine Arts from The American University in Dubai. In 2005 Sarah won a competition for Horse Design (Sheikh Mohammad’s Sponsorship of Dubai’s Celebration of the Arabian Horse). In the same year she also participated in a Post-It Note competition ‘3M Post-It Competition’ whereby her work was selected for an exhibition in Burjuman.
Gallery Location: FN Designs, Alserkal Avenue, Unit #26, Al Quoz 1, Street 8, Dubai, UAE
FN Designs Timings: 10 am to 6pm from Sunday to Thursday
flydubai, the Dubai-based airline, announced today that flights to Sulaimaniyah will resume from 10 May 2018. The carrier now operates to five points in Iraq including Baghdad, Basra, Erbil and Najaf. The decision to relaunch the flights was taken following the Iraqi authorities’ announcement that that the airport reopened in March 2018.
flydubai is the first carrier from the UAE to operate direct flights to the Kurdish city with a twice a week service from its Dubai hub to Sulaimaniyah International Airport. The frequency is set to increase to three times a week from June this summer.
Flights FZ205/206 will operate between Dubai International Airport, Terminal 2 and Sulaimaniyah International Airport on Thursdays and Sundays and will be the 92nd destination on the codeshare list with Emirates.
Commenting on the recommencement of flights to Sulaimaniyah, Ghaith Al Ghaith, Chief Executive Officer of flydubai, said: ” We are pleased to see the direct air links between the UAE and Sulaimaniyah return after three years of suspension. flydubai first operated to the Kurdish city in 2010 and we have seen over the years the positive demand from the region. We look forward to further strengthening our network in Iraq, a key market that has been witnessing a rise in investment, trade and tourism.”
Sulaymaniyah’s economy today relies on tourism, agriculture and a rising number of SMEs, most of which are involved in the building trade. The city is also home to the second biggest museum after the national museum in Baghdad, and hosts a number of Kurdish and ancient Persian artefacts dating back to 1792–1750 BC.
Iraq is an important market for flydubai served by 46 weekly flights. Operating from Dubai’s aviation hub, passengers from Iraq have access to a wide network of destinations in Europe, Asia, India and Russia.
flydubai recently announced the launch of flights to Helsinki in Finland and inaugurated a number of routes including Dubrovnik in Croatia, Krakow in Poland and Kinshasa in the Democratic Republic of the Congo. The carrier has grown its network to more than 95 destinations in 48 countries, served by a fleet of 61 modern Boeing 737 aircraft.
Return fares to Sulaimaniyah from Dubai start from AED 6,500 in Business Class and AED 1,500 in Economy class, while return fares to Dubai start from USD 1,500 and USD 370 respectively.
For the full flight schedule, fares and promotions please visit www.flydubai.com or contact the Customer Centre on +971600 544445.
Email is a necessity for most of us. We use it to stay in touch with colleagues and friends, keep up with the latest news, manage to-dos at home or at work—we just can’t live without it. Today we announced major improvements to Gmail on the web to help people be more productive at work. Here’s a quick look at how the new Gmail can help you accomplish more from your inbox.
Do more without leaving your inbox
Gmail’s new look helps you get more done. Click on attachments—like photos—without opening or scrolling through large conversations, use the new snooze button to put off emails that you just can’t get to right now or easily access other apps you use often, like Google Calendar, Tasks (now available on Android and iOS) and Keep.
Gmail will also “nudge” you to follow up and respond to messages with quick reminders that appear next to your email messages to help make sure nothing slips through the cracks.
We’re also adding Smart Reply to Gmail on the web to help you reply to messages faster.
New features on mobile, like high-priority notifications, can notify you of important messages to help you stay focused without interruption. Plus, Gmail will start suggesting when to unsubscribe from newsletters or offers you no longer care about.
And you might notice new warnings in Gmail that alert you when potentially risky email comes through.
Finally, a new confidential mode allows you to remove the option to forward, copy, download or print messages—useful for when you have to send sensitive information via email like a tax return or your social security number. You can also make a message expire after a set period of time to help you stay in control of your information.
Get started
You can start using these new updates in Gmail on the web today, with some features appearing within the coming weeks. Go to Settings (the cog wheel in the top right corner of your inbox) and select “Try the new Gmail.” If you want to switch back later down the road, you can go to the same place and select “Go back to classic Gmail.”If you’re interested in learning more about how you can use Gmail in the workplace, check out our G Suite post which has more detail on all of the ways Gmail can help you stay productive.
The Abu Dhabi National Oil Company (ADNOC) announced, today, it is establishing a new trading unit within its Marketing, Sales and Trading Directorate. The unit will introduce and manage non-speculative trading to further maximize value from every barrel of crude oil and refined product that is produced and marketed by the company.
As ADNOC accelerates delivery of its 2030 strategy, the trading unit will capitalize on the size and scale of the company’s crude oil and refined products portfolio, the flexibility within ADNOC’s refining system, and will leverage synergies and integration opportunities across its downstream value chain.
H.E. Dr. Sultan Ahmed Al Jaber, UAE Minister of State and ADNOC Group CEO, said: “As ADNOC grows and expands its upstream and downstream businesses, we will produce more products, and in turn, our Marketing, Sales and Trading function will play an even more critical role. Engaging in non-speculative trading will allow us to maximize value from our domestic and, over time, international downstream operations.
“By utilizing the flexibility in our downstream production facilities, accessing market opportunities and optimizing our supply chain, particularly to key growth markets, we aim to capture more value further along the value chain. Proactively managing our crude oil and refined product flows across key geographies, combined with the optionality provided by our first-class assets and geographic location, will allow us to constantly optimize our operations, capture market opportunities, and secure the highest value.”
ADNOC will set out the roadmap for its downstream growth strategy when it hosts its Downstream Investment Forum, in Abu Dhabi next month, at which it will also provide details of co-investment opportunities across its downstream value chain for new and existing partners.
“Looking out over the next two decades, we anticipate the sharpest growth within the energy sector will be petrochemicals, with demand forecast to climb 150 per cent by 2040,” H.E. Dr. Al Jaber said. “To capitalize on this opportunity and make ADNOC more resilient against possible price volatility, our goal is to become a major global downstream player, creating a strong pull for our products, combined with the flexibility to respond quickly to shifting market needs.”
Today’s announcement was made on the side-lines of the Middle East Petroleum and Gas Conference, in Abu Dhabi, which continues at Jumeirah at Etihad Towers, until April 24. The 26th annual event has gathered the global oil markets’ leading players to discuss global and Middle East upstream and downstream oil and gas challenges, opportunities and trends.
Emirates has introduced Home Check-in, a new service which allows customers to check in for their flights from anywhere in Dubai. The service is available for customers across all classes travelling on Emirates flights.
The new service enables Emirates passengers to complete the security check and check-in from the comfort of their home, hotel or office and have their luggage transported to the airport prior to their flight. An Emirates check-in agent will arrive at the preferred location to weigh and tag the bags as well as check-in the customers and issue boarding passes. Customers can then make their own way to the airport and head directly to immigration, bypassing the check-in desks at the airport.
The service is available for AED 350 per trip for up to 7 pieces of luggage. AED 35 will be charged for each additional piece of luggage. Customers can book the service on emirates.com up to 12 hours before flight departure time. This latest initiative is part of the Emirates’ ongoing commitment to provide world class products and services for a more convenient travel experience.
Emirates has been running trials for its Home Check-in service since October to ensure that the customer experience and security checks are faultless. The service seals each bag and stores them in a separate hold in the van. Emirates Home Check-in will be operated with a new fleet of vans.
The new Home Check-in offering complements other luggage handling services already available for Emirates flights in Dubai. For a seamless travel experience, customers can pay for a concierge service to handle their luggage at the airport, enjoy preferred rates for pre-paid excess baggage, and bag wraps to protect their luggage.
For passengers arriving in Dubai, there is a luggage storage facility for those who wish to leave their bags and explore the city. Emirates also offers a Home Delivery service where luggage is retrieved, cleared at customs and delivered to the customers for a hassle free travel experience. More information on these services can be found here.
Noble Investment Group (“Noble”) and InterContinental Hotels Group (“IHG”), one of the world’s leading hotel companies, today announced the opening of the EVEN® Hotel and Staybridge Suites® hotel in downtown Seattle.
The hotels are adjacent to the Amazon headquarter campus and the new Google campus in the vibrant South Lake Union market of Seattle. South Lake Union is also a hub for life science and biotechnology organizations such as the Fred Hutchinson Cancer Research Center, the Allen Institute for Brain Science and the University of Washington School of Medicine.
EVEN Hotels is the first hotel created with wellness at its core. The hotel was designed with options guests need to feel productive, nourished, recharged and relaxed. The 123-room EVEN Hotel Seattle – Downtown/South Lake Union, offers a world-class Athletic Studio with best-in-class cardio, stretch and strength training equipment. Guest rooms include a fitness zone with dedicated workout space with in-room equipment and guests can access 18 different in-room workout videos that range from 10 to 30 minutes. For dining, Cork & Kale café offers healthy to indulgent made-to-order options for breakfast and dinner. The hotel will also feature more than 2,000 square feet of meeting space.
The Staybridge Suites brand is designed for upscale travelers who are spending an extended time away from home for business, relocation or leisure. The 112-room, urban-style Staybridge Suites Seattle – Downtown/South Lake Union features a mix of studio and one-bedroom suites as well as amenities including complimentary daily hot breakfast buffet and evening reception, guest laundry and a 24-hour business center.
Elie Maalouf, CEO of InterContinental Hotels Group, The Americas said: “We are thrilled about growing both the EVEN Hotels and Staybridge Suites brands on the West Coast in partnership with a best-in-class owner like Noble. This project demonstrates the strong momentum for two of IHG’s growing brands and shows our commitment to expanding to high-profile markets.”
Mit Shah, CEO of Noble Investment Group said: “These first-class hotels are the perfect fit for the dynamic and rapidly expanding South Lake Union market that is an international hub and home to a diverse mix of tech, medical and corporate businesses.”
Popular ‘Best Stand Awards’ recognises Dubai Tourism as best stand for doing business
Other stands awarded for their creativity include Lebanon, SAUDIA, Turkey and Travelport
Dubai Tourism claimed the Best Stand for Doing Business at this year’s Arabian Travel Market (ATM) Best Stand Awards.
Recognised for creating a busy B2B atmosphere, Dubai Tourism boasted a well-planned and easily navigable layout with a good presentation of their stand and its services.
The hotly anticipated winners of this year’s awards were announced at a photo-call on the show floor on Tuesday 24th April.
Launched in 2015, the Best Stand Awards were created to recognise the design creativity and business-friendly appeal of exhibiting companies’ physical presence at ATM.
The judging panel comprised a line-up of top industry and design professionals: Leo Fewtrell, Managing Partner, Gulf Reps; Nicholas Hall, CEO & Founder, SE1 Media; Pippa Jacks, Group Editor, TTG Media Ltd and Matt Gibson, Travel Blogger, Writer and Photographer.
Commenting on Dubai Tourism’s winning stand, Matt Gibson, said: “It was an exceptionally good business stand with an effective and efficient set-up. One of the few stands to boast a triple-decker layout, Dubai Tourism attracted huge numbers of visitors throughout the event. Everyone working on the stand was incredibly welcoming and hospitable and the whole approach and attitude really captured the ideas of Dubai and what it has to offer as an emirate.”
The judging criteria for the Best Stand Design award focused on identifying an eye-catching stand with a creative design that made the best use of available space and attracted a high level of visitor traffic.
And Lebanon’s stand ticked all the boxes. Pippa Jacks, said: “I was very impressed, the stand really stood out and presented a welcoming and homely feature. The stand featured a huge front door, with staircase which led to a well-laid out meeting space. It was a subtle, yet intelligent, way to showcase the country.”
The Czech Republic was recognised as Highly Commended in the Best Stand Design category.
Jacks, said: The stand boasted a large triangle in the middle of the stand with an interactive LED screen on one corner and creative posters of the country on the others. Both the stand and staff created a very welcoming experience, with lots of open meeting space.”
The award for Best Stand Personnel is an especially important accolade considering hospitality is a people business.
“The staff for SAUDIA were excellent,” said Leo Fewtrell. “From the executive team and welcome hosts to pilots and airline staff, they were all a great representation of the brand and although the stand was very busy, they were welcoming, highly professional and very keen to demonstrate all amenities from first class through to economy.”
The Best Stand Feature accolade was awarded to the stand that created the biggest impact and most creative ways of drawing in visitors, and they didn’t come more eye-catching than Turkey.
Jacks said: “Not only did the Turkey stand have a great atmosphere surrounding it but it also featured lots of little interesting elements from urban marbling and a huge trojan statue to an ice cream stall and to round it off a group of traditional musicians, singers and dancers.”
The Best Stand within the Travel Tech Show at ATM specifically highlights the importance of technology to the industry.
Nicholas Hall said: “Travelport have done a great job with their stand and what I really liked was the creative way they used their space. The best feature for me was the five different coloured printers on the wall which automatically printed out photos tweeted by visitors to the stand. As well as meeting and workshop space, the stand also featured various charging stations.”
Babylon was recognised as Best Tech Highly Commended. Commenting on the stand, Hall said: “Judging on all factors, you see many types of stands at ATM, but to create something so minimal yet engaging and thought-provoking, while perfectly capturing what they do, is a huge achievement.”
The winners will be put to the public vote on the ATM Facebook account, for the chance of walking away with the People’s Choice Award.
Simon Press, Senior Exhibition Director, Arabian Travel Market, said: “The fresh, innovative stand designs and concepts never cease to amaze and this year was no exception. These awards recognise the huge effort, investment and thought that go into creating and manning quality exhibitor space.”
The winners of the Best Stand Awards are as follows:
Best Stand Design: Lebanon
Best Stand for Doing Business: Dubai Tourism
Best Stand Personnel: SAUDIA
Best Stand Feature: Turkey
Best Stand within the Travel Tech Show at ATM: Travelport
For more information on Arabian Travel Market 2018, please visit the website at www.arabiantravelmarket.wtm.com-ENDS-About Arabian Travel Market (ATM) is the leading, international travel and tourism event in the Middle East for inbound and outbound tourism professionals. ATM 2017 attracted almost 40,000 industry professionals, agreeing deals worth US$2.5bn over the four days. The 24th edition of ATM showcased over 2,500 exhibiting companies across 12 halls at Dubai World Trade Centre, making it the largest ATM in its 24-year history. Arabian Travel Market now in its 25th year will take place in Dubai from Sunday, 22nd to Wednesday, 25th April 2018. To find out more, please visit: www.arabiantravelmarketwtm.com.
About Reed ExhibitionsReed Exhibitions is the world’s leading events business, enhancing the power of face to face through data and digital tools at over 500 events a year, in more than 30 countries, attracting more than seven million participants.
About Reed Travel ExhibitionsReed Travel Exhibitions is the world’s leading travel and tourism event’s organiser with a growing portfolio of more than 22 international travel and tourism trade events in Europe, the Americas, Asia, the Middle East and Africa. Our events are market leaders in their sectors, whether it is global and regional leisure travel trade events, or specialist events for meetings, incentives, conference, events (MICE) industry, business travel, luxury travel, travel technology as well as golf, spa and ski travel. We have over 35 years’ experience in organising world-leading travel exhibitions.
Media contact
NATHALIE VISELE
Director
Tel: +971 4 365 2711 | Mobile: +971 50 457 6525
E-mail: nathalie.visele@shamalcomms.com
Office 106, Arjaan Office Tower, Dubai Media City
PO Box 502701 | Dubai, United Arab Emirates
Website: www.shamalcomms.com
The hotly anticipated winners of this year’s awards were announced at a photo-call on the show floor on Tuesday 24th April.
Launched in 2015, the Best Stand Awards were created to recognise the design creativity and business-friendly appeal of exhibiting companies’ physical presence at ATM.
The judging panel comprised a line-up of top industry and design professionals: Leo Fewtrell, Managing Partner, Gulf Reps; Nicholas Hall, CEO & Founder, SE1 Media; Pippa Jacks, Group Editor, TTG Media Ltd and Matt Gibson, Travel Blogger, Writer and Photographer.
Commenting on Dubai Tourism’s winning stand, Matt Gibson, said: “It was an exceptionally good business stand with an effective and efficient set-up. One of the few stands to boast a triple-decker layout, Dubai Tourism attracted huge numbers of visitors throughout the event. Everyone working on the stand was incredibly welcoming and hospitable and the whole approach and attitude really captured the ideas of Dubai and what it has to offer as an emirate.”
The judging criteria for the Best Stand Design award focused on identifying an eye-catching stand with a creative design that made the best use of available space and attracted a high level of visitor traffic.
And Lebanon’s stand ticked all the boxes. Pippa Jacks, said: “I was very impressed, the stand really stood out and presented a welcoming and homely feature. The stand featured a huge front door, with staircase which led to a well-laid out meeting space. It was a subtle, yet intelligent, way to showcase the country.”
The Czech Republic was recognised as Highly Commended in the Best Stand Design category.
Jacks, said: The stand boasted a large triangle in the middle of the stand with an interactive LED screen on one corner and creative posters of the country on the others. Both the stand and staff created a very welcoming experience, with lots of open meeting space.”
The award for Best Stand Personnel is an especially important accolade considering hospitality is a people business.
“The staff for SAUDIA were excellent,” said Leo Fewtrell. “From the executive team and welcome hosts to pilots and airline staff, they were all a great representation of the brand and although the stand was very busy, they were welcoming, highly professional and very keen to demonstrate all amenities from first class through to economy.”
The Best Stand Feature accolade was awarded to the stand that created the biggest impact and most creative ways of drawing in visitors, and they didn’t come more eye-catching than Turkey.
Jacks said: “Not only did the Turkey stand have a great atmosphere surrounding it but it also featured lots of little interesting elements from urban marbling and a huge trojan statue to an ice cream stall and to round it off a group of traditional musicians, singers and dancers.”
The Best Stand within the Travel Tech Show at ATM specifically highlights the importance of technology to the industry.
Nicholas Hall said: “Travelport have done a great job with their stand and what I really liked was the creative way they used their space. The best feature for me was the five different coloured printers on the wall which automatically printed out photos tweeted by visitors to the stand. As well as meeting and workshop space, the stand also featured various charging stations.”
Babylon was recognised as Best Tech Highly Commended. Commenting on the stand, Hall said: “Judging on all factors, you see many types of stands at ATM, but to create something so minimal yet engaging and thought-provoking, while perfectly capturing what they do, is a huge achievement.”
The winners will be put to the public vote on the ATM Facebook account, for the chance of walking away with the People’s Choice Award.
Simon Press, Senior Exhibition Director, Arabian Travel Market, said: “The fresh, innovative stand designs and concepts never cease to amaze and this year was no exception. These awards recognise the huge effort, investment and thought that go into creating and manning quality exhibitor space.”
