Deloitte's Global Press Releases page contains links to news and information about the firm's activities around the world. Press releases in this area of the site date back approximately 18 months, with the most recent appearing at the top of the page.
For press releases at the country level, please select the relevant national practice from the Global Site Selector at the top of this page, then proceed to the appropriate press or news-related area of the site.
London, 18 November 2008 – A report produced quarterly by Deloitte, the business advisory firm, has found that year-to-September hotel performance fell slightly across Europe. Revenue per available room (revPAR) was down 1.5% to €76 driven by a 1.9% drop in occupancy while average room rates decreased marginally to €112.
However, when looking at September figures alone, revPAR across Europe dipped 6.7%.
Commenting, Alex Kyriakidis, Global Managing Partner of Tourism, Hospitality & Leisure at Deloitte, said: “The world is now dealing with one of the most significant economic slowdowns in modern...
New York, 11 November 2008 – Deloitte Touche Tohmatsu issued a new report today delivering guidance and perspective on the recently released set of Generally Accepted Principles and Practices (GAPP) for Sovereign Wealth Funds, also known as the "Santiago Principles” (after the city in Chile where the final drafting took place). The 24 Santiago Principles offer guidelines covering governance, accountability, transparency, and conduct of investments for sovereign wealth funds (SWFs). The report aims to show that laws, regulations, and guidelines such as the Santiago Principles are an important step...
New York, 29 October 2008 – The global economy remains at substantial risk, but the speed and size of the various governmental rescue efforts bode well for a recovery in the not-too-distant future — this from the Deloitte Touche Tohmatsu global economic outlook 4th quarter report. Written by five Deloitte global economists, it predicts that, although developed country economies will continue their serious downturns, the massive infusion of government money should restore activity to the credit markets and set the stage for recovery. Emerging countries will feel the negative effects of this downturn.
London, 27 October 2008 – The impact of the current global economic crisis has reached Asia Pacific and the tourism industry is starting to feel the pressure as growth starts to slow. New analysis by Deloitte, the business advisory firm, shows that although hotels have reported positive growth for the year-to-August 2008, with revenue per available room (revPAR) up 13.2%, on closer inspection, hoteliers have started to feel the strain over the last few months.
Until May 2008, revPAR growth across Asia Pacific was reporting double-digit growth each month, with average room rates driving this. However, since then, revPAR growth has...
London, 27 October 2008 – Hotels in Singapore reported spectacular results over the weekend of the inaugural SingTel Singapore Formula 1 Grand Prix. A review of hotel performance by Deloitte, the business advisory firm, shows that revenue per available room (revPAR) on the final day of the event rose 376.4% to US$570. Occupancy reached 87.9%, the best performing day during the month of September, while average room rates increased just short of 300% to US$648. The two days leading up to the main race also reported strong occupancy and average room rates as the city saw an influx of visitors.
London, 27 October 2008 – Analysis by Deloitte, the business advisory firm, has found that hotels across the UK have posted average growth in revenue per available room (revPAR) in the year-to-September. Hotel performance data increased 2.4% to £62, driven by a 3.9% increase in average room rates. Occupancy fell 1.4%.
However, reduced consumer spending as a consequence of the global financial crisis is starting to take its toll. In September, average room rates across the UK were down 0.5% which marks the first month of average room rate decline since April 2006, a month in which results which were skewed due to Easter falling in...
Beijing, 20 October 2008 – Deloitte Touche Tohmatsu announced today at an unveiling ceremony, that Tower W2 of Oriental Plaza will be officially named "Deloitte Tower" from today onwards. Deloitte is the first organization to be given official naming rights to an office building in China.
Global CEO of Deloitte Touche Tohmatsu Jim Quigley said, “Deloitte was one of the first global professional services organizations to join with a local firm following the opening of China’s market 30 years ago. Over the years, we have aligned our resources and services to support the growth and development of businesses, our profession, the regulatory...
New York, 12 October 2008 – Deloitte Touche Tohmatsu commended the International Working Group (IWG) of Sovereign Wealth Funds on this weekend’s release in Washington of a set of Generally Accepted Principles and Practices for Sovereign Wealth Funds (SWFs), also known as the "Santiago Principles," after the city in Chile where agreement on the text was reached.
The announced objective of the Principles is to "identify a framework of generally accepted principles and practices that properly reflect appropriate governance and accountability arrangements as well as the conduct of investment practices by SWFs on a...
Beijing, 23 September 2008 – Deloitte Touche Tohmatsu announced that Chris Lu has been elected the CEO of the Deloitte China commencing 1 October 2008. Lu succeeds Peter Bowie who will take up the position of Senior Partner, Deloitte China. Further, Joseph Lo has been elected as Chairman of Deloitte China, succeeding outgoing Chairman Kenneth McKelvie whose term ended on 31 May 2008.
Commenting on the appointments, Jim Quigley, Global CEO Deloitte said, "Mr. Lu and Mr. Lo are very experienced local partners with proven track records in helping Deloitte, its people and clients excel. They are well qualified to continue the strong...
Prague, 10 September 2008 — Central Europe will maintain its impressive five percent growth rates that far outpace western Europe’s economic performance only if it completes free market reforms, warns the Central Europe Top 500 2008, a new ranking and report authored by Deloitte Touche Tohmatsu on the region’s 500 largest companies.
The Deloitte Central Europe Top 500 charts companies’ progress in the region, which stretches from the Adriatic to the Baltic and the Black seas and contains a raft of countries, all of which have either already joined the European Union or are at various stages of the...
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