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I wonder if ______ is an extremely optimistic person or in a cocoon of senior management denial

Bank deleveraging has barely started

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Banks lending money to governments to help fund bank bailouts looks horribly circular

April 1999

Business Travel Poll 1999: Planes, trains and internet kiosks


Euromoney has once again ranked the world's best hotels, airlines and airports according to the preferences of senior executives across the globe. Which are the world's favourite hotels for business travellers? And which airlines should you fly with and which should you avoid? Research and report by Carolyn Dowd.




The world's favourite hotels
99 98 Score
1 1 Mandarin Oriental Hong Kong 59
2 6 Island Shangri-La Hong Kong 46
3 11= Okura, Tokyo Tokyo 42
4 11= Steigenberger Frankfurter Hof Frankfurt 41
5 - Ritz-Carlton Singapore 35
6 - Shangri-La Kuala Lumpur 34
7 20= Shangri-La Singapore 32
8 - Plaza New York 31
9 - Shangri-La Manila 30
10 15= Oriental Bangkok 29
11 18= Four Seasons New York 28
12 - Regent Sydney 27
13= 15= Grand Bretagne Athens 26
13= - Shangri-La Bangkok 26
15= 2 Arabella Grand Frankfurt 25
15= 11= Palace Hotel Madrid 25
15= 9= Ritz Madrid 25
18= - Grand Hyatt Jakarta 24
18= - Grand Hyatt Wan Chai Hong Kong 24
18= - New York Palace New York 24

The real excitement in the 1999 Euromoney business travel poll lies in the battles being waged behind the number one spot. Although Hong Kong's Mandarin Oriental is still the world's favourite hotel, five of the top 20 hotels are part of the Shangri-La chain - an impressive comeback from the six-place tumble it took in 1998's best hotel group ranking. Inter-Continental maintains its position as best hotel chain for a second successive year and fares particularly well in European categories: it features among the top five in 13 different cities. That should please UK leisure and brewing company Bass which bought Inter-Continental in February 1998 for £1.8 billion ($2.9 billion). Following the purchase a spokesman for the company commented: "We look forward to building on Inter-Continental's existing strong base in Europe, the Middle East and Latin America. We also look forward to expanding the brand in Asia and in the United States of America." With favourable results for Inter-Continental in 1999, senior executive readers of Euromoneyare sure to greet that news with a smile.

In the airline categories, Singapore Airlines and Virgin Atlantic are vying for second place behind the ever popular British Airways. Virgin Atlantic tops the poll for its business-class facilities and Singapore Airlines jumps ahead in terms of overall quality of service.

Cathay Pacific proves a spoiler in this head-to-head competition, matching Virgin Atlantic's second place in the first-class service category.

Perhaps most noteworthy in the airline rankings is the strong showing by United Airlines with new entries in three categories and top billing in flights originating in Chicago. A spokesman for the company attributes its recent success to heavy investment in the airline - over $400 million has been spent on improving the carrier's on-board services.

United recently became the first US airline to provide a lie-flat bed for first-class customers. "The United First Suite," comments David Coltman, senior vice-president of marketing for United Airlines, "can serve as your bed, your favourite chair or your office." United's efforts appear to have paid off. It features among the top five for first-class service.

New York's JFK airport climbs up the rankings, replacing Amsterdam's Schiphol as the second best airport behind London Heathrow. According to a spokesperson from JFK, over $7.5 billion is being spent to make JFK "a world-class airport of the next millennium." In addition to the internet kiosks and computer lap-top connection capabilities being implemented in each terminal, there has been a concerted effort over the last year to improve customer services. The "red coats", the new unit designed to cater to business travellers have even been known to track down a Gucci purse in a taxi heading to Manhattan minutes before an executive was set to take off.

Research for this business travel poll was provided by over 50 executives' assistants, who were asked to name their bosses' favourite hotels and airlines around the world. Points were awarded on a sliding scale of 4:3:2. All respondents were entered in our prize draw for two nights for two at the Grand Bretagne in Athens.

Congratulations to winner Sarah Gwilliams of the European Bank for Reconstruction & Development.

City by city favourite hotels
Asia-Pacific:
Bangkok
99 98 Score
1 1 Oriental 29
2 2 Shangri-La 26
3 3 Grand Hyatt Erawan 13
4 4 Regent 12
5 Dusit Thani 8
Beijing
1 2= Great Wall Sheraton 8
2 1 Shangri-La China World 7
Hong Kong
1 1 Mandarin Oriental 59
2 2 Island Shangri-La 46
3 3 Grand Hyatt Wan Chai 24
4 Regent 16
5 5 Ritz-Carlton 11
Jakarta
1 1 Grand Hyatt 24
2 2 Shangri-La 15
3= 4 Mandarin Oriental 5
3= 3 Regent 5
Kuala Lumpur
1 1 Shangri-La 34
2 Ritz-Carlton 8
3 Hyatt Saujana 7
4 2 Regent 6
Manila
1 1 Shangri-La 30
2 3 Peninsula 21
3 2 Mandarin Oriental 14
Melbourne
1 1= Grand Hyatt 12
2 1= Regent International 10
3= Hyatt 8
3= Sheraton Towers Southgate 8
5 Sofitel 7
Seoul
1 1 Shilla 14
2= Grand Hyatt 7
2= 2 Westin Chosun 7
Shanghai
1 1 Shangri-La 8
Singapore
1 2 Ritz-Carlton 35
2 1 Shangri-La 32
3= Four Seasons 15
3= 4 Raffles 15
5 5 Westin Plaza 10
Sydney
1 1 Regent 27
2 2 Park Hyatt 16
3 Sheraton on the Park 10
4= Ana 8
4= Observatory 8
Taipei
1 1 Sherwood 10
2 Shangri-La 7
Tokyo
1 1 Okura 42
2 2 Imperial 18
3 4= Ana 12
4 3 Dai-Ichi Hotel Annex 10
5 New Otani 9
Europe:
Amsterdam
1 4= Grand Hotel Krasnapolsky 23
2 1 Amstel Inter-Continental 21
3 2 De l'Europe 9
4 American 5
Athens
1 1 Grand Bretagne 26
2 3 Hilton 6
3 2 Athenaeum Inter-Continental 5
Brussels
1 3 SAS Radisson 16
2 Meridien 13
3 1 Royal Windsor 12
4= Conrad 7
4= Europa Inter-Continental 7
Budapest
1 1 Kempinski Hotel Covinus 23
2 2= Forum 10
3 Marriott 7
4 Inter-Continental 6
5 Danubius Gellert 5
Copenhagen
1 1 D'Angleterre 12
2 Plaza 7
Frankfurt
1 2 Steigenberger Frankfurter Hof 41
2 1 Arabella Grand 25
3 4 Hessischer Hof 9
4 Meridien Park Hotel 8
5 3 Intercontinental 7
Geneva
1 1 Des Bergues 16
2 2 Beau Rivage 6
Istanbul
1 Cirigan Palace Kempinski 17
2 Swissotel 14
3 Hilton 5
Lisbon
1= 1 Ritz Inter-Continental 11
1= 3 Tivoli 11
London
1 2= Inter-Continental Mayfair 22
2 1 Savoy 20
3 Dorchester 16
4 9= Churchill Inter-Continental 15
5 5 Grosvenor 13
6 6= Landmark 10
7 4 Le Meridien 9
8 Lanesborough 8
9= 6= Berkeley 7
9= Four Seasons 7
9= Hampshire Plaza 7
9= Mountbatten 7
Luxembourg
1 1 Le Royal 16
Madrid
1= 2 Palace Hotel 25
1= 1 Ritz 25
3 4 Castellana Inter-Continental 12
4 3 Villa Magna 10
5 Melia Castilla Madrid 9
Milan
1 1 Principe di Savoia 16
2 2 Grand Hotel 14
3 Brunelleschi 8
Moscow
1 1= Metropol 12
2 Kempinski Balchug 8
3 1= National 7
Munich
1 2 Bayerischer Hof 10
2 1 Kempinski Vier Jahreszeiten 7
Paris
1 3= Inter-Continental 23
2 1 George V 14
3= Concord Lafayette 10
3= 2 Ritz 10
5 De Crillon 9
Prague
1 1 Inter-Continental 10
2 2 Hilton Atrium 8
Rome
1 1 Le Grand 17
2= 2 Eden 14
2= 3 Hassler 14
4 8 Excelsior 8
5 4 De la Ville Inter-Continental 6
Stockholm
1 1 Grand 20
2 2 Radisson SAS Strand 14
3 Hässelby Slott 7
Vienna
1 1 Sacher 19
2 3 Inter-Continental 12
3= Imperial 7
3= Radisson 7
5 2 Vienna Plaza 5
Warsaw
1 1 Le Royal Meridien Bristol 23
2 2 Marriott 15
3 Victoria Inter-Continental 9
Zurich
1 1 Baur au Lac 15
2= 3= Central Plaza 8
2= 6 Widder 8
4 2 Dolder Grand 7
5 Zum Storchen 6
Middle East
Abu Dhabi
1 1 Sheraton 12
2 Forte Grande 8
Bahrain
1 1 Sheraton 12
2 Meridien 8
Dubai
1 Le Meridien Jumeira Beach 8
Kuwait
1 1 Sheraton 16
Riyadh
1 Sheraton 8
Latin America
Buenos Aires
1 1 Park Hyatt 16
2 2 Caesar Park 10
Caracas
1 Hilton 7
Mexico City
1 Marriott 11
2 3 Camino Real 6
3 Nikko 5
Rio de Janeiro
1 1 Caesar Park Ipanema 8
Santiago
1 1 Hyatt 16
2 Hotel Carrera 7
São Paulo
1 1 Maksoud Plaza 7
North America
Boston
1 Westin 8
2= 3= Boston Harbour 7
2= Marriott 7
Chicago
1 1 Ritz-Carlton 8
2= 2 Four Seasons 6
2= 3 Inter-Continental 6
Dallas
1= Hilton Grapevine 8
1= Meridien 8
Los Angeles
1 Beverly Hills Hilton 8
2 Marriott Hotel 7
Montreal
1 Ritz-Carlton 11
2 Inter-Continental 6
New York
1 2 Plaza 31
2 1 Four Seasons 28
3 3 New York Palace 24
4 Marriott Marquis 17
5 6= Waldorf Astoria 14
6 5 Inter-Continental 13
7 Saint Regis 11
8 Millennium 10
9 Grand Hyatt 7
10= 8= Meridien Parker 6
10= 4 Pierre 6
San Francisco
1 1= Grand Hyatt 11
2= 3 Ritz-Carlton 7
2= Sheraton Palace 7
4= Inter-Continental 6
4= 1= Mandarin Oriental 6
Toronto
1 1 Four Seasons 12
2 Westin 10
3= 2 King Edward 6
3= Royal York 6
Vancouver
1 Westin 11
Washington DC
1 Watergate 12
2 2 Ritz-Carlton 8
3= 1 Four Seasons 7
3= Hay Adams 7
3= Hyatt 7
3= Sheraton 7
Best hotel chains overall
1 1 Inter-Continental 45
2 2 Hyatt 26
3 5 Marriott 25
4 7 Shangri-La 18
5 9= Ritz-Carlton 16
6= 6 Four Seasons 14
6= 3 Sheraton 14
8= 4 Hilton 11
8= Meridien 11
8= Westin 11
Best conference facilities
1 Okura, Tokyo 11
2= 2 Savoy, London 8
2= Westin, Singapore 8

Best Airlines
Overall quality of service
1 1 British Airways 131
2 2 Singapore Airlines 37
3 3 Virgin Atlantic Airways 34
4 United Airlines 23
5= 5 Lufthansa 21
5= 4 Swiss Air 21
7 8 Cathay Pacific 19
8 6 American Airlines 14
9 9= Qantas 12
10= 9= Air Canada 8
10= Finn Air 8
First class service
1 1 British Airways 86
2= 4= Cathay Pacific 23
2= 7 Virgin Atlantic Airways 23
4 2 Singapore Airlines 20
5 United Airlines 15
6= 3 American Airlines 12
6= 4= Lufthansa 12
8 Air France 8
9 6 Swiss Air 5
Business class service
1 1 British Airways 83
2 3 Virgin Atlantic Airways 37
3 2 Singapore Airlines 25
4 8 United Airlines 20
5 9= Cathay Pacific 17
6 5= American Airlines 15
7 5= Lufthansa 11
8 4 Swiss Air 10
9 SAS 7
10= Delta 6
10= Qantas 6
Routes from London
1 1 British Airways 120
2 2 Virgin Atlantic Airways 19
3= 4 American Airlines 18
3= Cathay Pacific 18
5 KLM 10
Routes from Frankfurt
1 1 Lufthansa 58
2 2 British Airways 38
3 4 KLM 6
Routes from Paris
1 2 Air France 50
2 1 British Airways 38
3 Delta 7
Routes from Chicago
1 3 United Airlines 28
2 1 British Airways 27
3 2 American Airlines 21
4 4 Lufthansa 12
5 Delta 6
Routes from New York
1 1 British Airways 46
2 2 American Airlines 28
3 3 United Airlines 18
4 4 Virgin Atlantic Airways 12
5 Swiss Air 9
Routes from Toronto
1 2 Air Canada 20
2 1 British Airways 17
3= 3= American Airlines 8
3= 5 Lufthansa 8
Routes from Hong Kong
1 1 British Airways 46
2 2 Cathay Pacific 36
3 3 Singapore Airlines 16
4 4 Lufthansa 14
5 Swiss Air 5
Routes from Singapore
1 1 Singapore Airlines 53
2 2 British Airways 39
3 3 Cathay Pacific 22
4 Swiss Air 9
5 4 Lufthansa 8
Routes from Tokyo
1 1 British Airways 28
2 2 Japan AirLines 20
3 3 Singapore Airlines 16
4 4 Lufthansa 12
5 Ana 11
Short-haul flights (under 4 hours)
1 1 British Airways 83
2 3 Swiss Air 15
3 Cathay Pacific 14
4 Singapore Airlines 13
5= Finnair 11
5= 2 Lufthansa 11
5= SAS 11
Long-haul flights (over 4 hours)
1 1 British Airways 105
2 2 Singapore Airlines 28
3 3 Virgin Atlantic Airways 22
4 United Airlines 21
5 Qantas 17
Least favourite airlines
1= Air France 12
1= 4 Continental 12
3= 5= Air India 11
3= 1 Sabena 11
Favourite Airports
1 1 London Heathrow 88
2 New York JFK 18
3 4= Frankfurt 14
4= Hong Kong Chep Lap Kok 13
4= 2 Amsterdam Schiphol 13






This proposal goes against the heart of Basle II

Alexander Batchvarov, Merrill Lynch

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