Industry Leaders Reverse Mortgage Rules Too Much

first_imgIndustry Leaders: Reverse Mortgage Rules Too Much Agents & Brokers Attorneys & Title Companies Bank Failure Barclays Consumer Financial Protection Bureau Dodd-Frank Lenders & Servicers Processing QRM Reverse Mortgage Service Providers The Cato Institute 2011-07-05 Ryan Schuette July 5, 2011 440 Views In a “”prepared statement””:http://www.aba.com/aba/documents/news/SafetySoundness61411.pdf that it submitted to the “”Senate Financial Institutions Subcommittee””:http://banking.senate.gov/public/index.cfm?Fuseaction=CommitteeInformation.Subcommittee&Subcommittee_ID=d7d38747-f226-46f4-8aaa-c06fae94bf41, the “”American Bankers Association””:http://www.aba.com/default.htm (ABA) aired concerns about a dry-up in risk in the financial markets, an increasingly serious dilemma that it blamed on Congress for trying to prevent past mistakes from occurring again.[IMAGE]””In an effort to deal with the aftermath of the financial crisis, the response by Congress and the regulators has been to drive out all the risk from the system in the name of safety and soundness,”” the “”statement””:http://www.aba.com/aba/documents/news/SafetySoundness61411.pdf read. “”This has meant that good loans that could and should be made are left unfunded.””The pendulum has swung too far in favor of tighter regulation, micro-management [sic], and second-guessing,”” it said.The “”ABA””:http://www.aba.com/default.htm delivered the statement in response to a new loan officer compensation law, a voluminous text with multiple rules and regulations that drove up costs and lost hours for brokers and lenders trying to implement it, according to “”_Reverse Mortgage Daily_””:http://reversemortgagedaily.com/2011/07/04/for-reverse-mortgage-lenders-has-the-regulatory-pendulum-swung-too-far/.The compensation law came under more heat last month when financial services analysis firm “”Barclays Capital””:http://www.barcap.com/ released a report condemning the new rules, which banned yield-spread premiums, threatening to drive more brokers to high-balance loans and thus more borrowers, too.””These new guidelines are likely to further reduce”” the share of loans and restrict lender underwriting standards, said the analysts who wrote the report. [COLUMN_BREAK]The economics of originating and passing on the loans to lenders and acting purely as an intermediary look “”significantly worse”” under the Obama administration and federal regulatory agencies.Industry insiders reacted to the statement.””The pendulum has certainly swung too far in the direction of regulation in the reverse mortgage industry,”” “”_Reverse Mortgage News_””:http://reversemortgagedaily.com/2011/07/04/for-reverse-mortgage-lenders-has-the-regulatory-pendulum-swung-too-far/ reported Ken Klawans, president of “”iReverse Home Loans””:https://reverse-mortgage.theeasyloansite.com/5/?utm_source=ggl&utm_campaign=easy&utm_term=iReverse%20home%20loans&rbt=exact&utm_publisher=&utm_content=7410212115&utm_medium=paid&adg=telsrm_competitor_ireverse_us_exact&utm_adcampaign=reverse_national&gclid=CM2Ljcet66kCFRMS2godhkIqag, as saying. “”While it’s important that safeguards are in place for our protected class of borrowers, throwing more rules, restrictions and papers for the senior to sign does nothing to accomplish the desired results.””In addition to a risk-retention rule, contentious “”Consumer Financial Protection Bureau””:http://www.consumerfinance.gov/ (CFPB) is one of several new mechanisms at play under the Dodd-Frank Act. The “”ABA’s””:http://www.aba.com statement stressed that the bureau may yield fallout in the financial services markets that far outweighs the good intentions that led to its creation.””The nature and extent of rules from the [“”CFPB””:http://www.consumerfinance.gov/] are unknown, but uncertainty about the potential actions creates potential litigation risk as actions taken today may conflict with the changes in rules devised”” by it, the “”ABA””:http://www.aba.com said in its “”statement””:http://www.aba.com/aba/documents/news/SafetySoundness61411.pdf.Mark Calabria, director of financial regulation studies at the conservative-leaning “”Cato Institute””:http://www.cato.org/, said that the “”CFPB””:http://www.aba.com/aba/documents/news/SafetySoundness61411.pdf would likely create “”more bank failures rather than less”” with its far-reaching regulatory powers, which continue to expand with a slow transfer of 18 consumer financial laws from seven regulatory agencies.Others see the Dodd-Frank Act as a positive good. “”I think that the moves to weaken the CFPB are really misguided,”” said Michael Barr, “”University of Michigan””:http://www.umich.edu/ professor, former “”Treasury Department””:http://www.treasury.gov/Pages/default.aspx assistant secretary, and a chief architect of the Dodd-Frank Act. “”I think that the consumer bureau is going to help make the market work better. That’s good for consumers and investors and lenders. It will help make the markets work much better.””Speaking to _The MReport_, “”ABA’s””:http://www.aba.com EVP for mortgage markets and public policy, Bob Davis, stayed firm on the issue.””The pendulum has swung too far. When you come out of a period of loss you want to build a capital cushion,”” Davis said. “”We’re still at the pendulum up in one arc of its swing, but there has to be a balance.””center_img in Government, Origination, Secondary Market, Servicing Sharelast_img read more

FHFA to Increase Oversight of Staff Compensation at GSEs

first_img December 10, 2012 410 Views Agents & Brokers Attorneys & Title Companies Fannie Mae FHFA Freddie Mac Investors Lenders & Servicers Service Providers 2012-12-10 Tory Barringer The “”Federal Housing Finance Agency””:http://www.fhfaoig.gov/ (FHFA) isn’t doing enough to monitor compensation for senior professionals at “”Fannie Mae””:http://www.fanniemae.com/portal/index.html and “”Freddie Mac””:http://www.freddiemac.com/, the “”Office of the Inspector General””:http://www.fhfaoig.gov/ (FHFA-OIG) suggests in a “”new report””:http://origin.www.fhfaoig.gov/Content/Files/EVL-2013-001.pdf.[IMAGE]At the end of 2010, the FHFA–acting as conservator of the GSEs–enacted a pay freeze on all general merit pay increases and cost of living adjustments to be given to all Fannie and Freddie employees through 2011; that freeze was extended to cover 2012, as well. The freeze allows an exception for raises granted to employees who receive a promotion or is otherwise given added responsibilities.Since that time, the agency has also worked to strengthen its oversight and control over compensation given to executives, including scaling back the CEOs’ salaries to the tune of nearly 90 percent.However, while the FHFA has increased its monitoring on executive pay, its oversight of non-executive compensation–which encompasses some 11,900 employees, including 2,000 senior professionals–has been relatively limited. According to the report, senior professionals (classified as VPs and directors) earned a collective $455 million in 2011. The median cash compensation for the Enterprises’ total 333 VPs was $388,000, while the median pay among the 1,650 director positions was $205,300.Additionally, while payment for executives was brought down from 2010 to 2011, FHFA-OIG found that compensation for senior professionals actually increased in those years. According to the report, “”one Enterprise official told FHFA-OIG that promotions and changes in responsibility also may have played a role in the increase in median compensation from 2010 to 2011.””””FHFA has not conducted any reviews or examinations to gain assurance that the Enterprises’ non-executive compensation costs are reasonable and justified … [a]s the Enterprises’ conservator, FHFA has a responsibility to preserve and conserve effectively their assets and limit taxpayer costs. To help do so, FHFA-OIG believes that the Agency should gain reasonable assurance that the Enterprises’ compensation controls are effective,”” the report reads.To that end, FHFA-OIG recommends the agency take steps to further enhance its monitoring of compensation at the GSEs, particularly for senior professionals. The report specifically urges an assessment of the GSEs’ processes and cost controls for compensation, an evaluation of pay offered to new hires, and the companies’ compliance to the mandated freeze on increased compensation.In a response to the report, FHFA representatives agreed to take action, noting that “”it would be prudent and feasible for FHFA to improve our monitoring of the promotions and new hires at the Vice President and Director levels.”” However, they did point out that FHFA-OIG’s “”take-home pay”” figures include long-term incentives and deferred payments from prior years that were not yet adjusted by the agency.””FHFA and the Enterprises have made significant changes to both compensation and plans which are not yet reflected in the cash paid data,”” they write. FHFA to Increase Oversight of Staff Compensation at GSEscenter_img in Government, Secondary Market Sharelast_img read more

Housing Trends Show Broadening Recovery

first_imgHousing Trends Show Broadening Recovery The home price recovery moved in a less focused and more broad-based direction in May as available listings sank, a housing trend report shows.According to Realtor.com, the median listing price of homes in May this year was $214,900, a rise of 8 percent compared to year-ago levels. Month-over-month, prices ticked up 2.4 percent.Of the 146 markets tracked in the survey, all but eight reported annual price improvement, Realtor.com reported.”This May’s housing market stands in significant contrast to last year in which price increases were less generalized and more concentrated in specific metropolitan areas,” the company said in its report. “This broad increase in price suggests a more evenly distributed recovery and a healthier national housing market.”Part of May’s increase in prices came from a 0.4 percent month-over-month drop in listings, which totaled an estimated 1.7 million. Last year, Realtor.com reports inventories were 5.8 percent higher.At the same time, inventory shortages have eased at the local level. In May, only three markets—Stockton-Lodi, California; Boulder-Longmont, Colorado; and Houston, Texas—posted year-over-year inventory declines of more than 29 percent. A year ago, nine markets had deficits higher than that amount.Adding to that, the handful of California markets that reported large declines last year are now seeing inventory come up, helping to moderate price gains. Last year, some of those same markets posted price increases of higher than 20 percent as inventory turned down 25 percent.”Home prices are as high as they are because of the low inventory spread across the nation. But we are not seeing the runaway pricing of last year,” said Steve Berkowitz, CEO of Move, which operates Realtor.com. “Nor is the situation exclusive to the hotbed markets of recent years.”The company also reported available homes are moving more briskly compared to April. The median age of inventory in May was 78 days, down 4.9 percent month-over-month and level with a year ago—indicating consumer demand is on par with where it was in last year’s more active market. in Daily Dose, Data, Featured, Headlines, News July 3, 2014 529 Views center_img Demand Home Prices Housing Supply Move Realtor.com Recovery 2014-07-03 Tory Barringer Sharelast_img read more

The Week Ahead A New Treasury Budget and Fed Balance Sheet

first_img jobless claims MBA MBA mortgage applications survey Mortgage Applications Survey Mortgages The week ahead 2018-01-05 David Wharton In addition to regular weekly reports such as the MBA Mortgage Applications Survey and the Fed Balance Sheet, this week will see the release of the monthly U.S. Treasury budget on Thursday at 2 p.m. EST. The Treasury budget provides an accounting of the government’s surplus or deficit.Also this week, Fed Presidents from several different Federal Reserve Banks are delivering speeches or participating in Q&As for various events around the country.On Monday, January 8, at 12:40 p.m. ET, Atlanta Federal Reserve Bank President Raphael Bostic is set to speak on “Economic Outlook and Monetary Policy” at the Rotary Club of Atlanta in Atlanta, Georgia. The event will include an audience and media Q&A.On Tuesday, January 9, at 10 a.m. ET, Minneapolis Federal Reserve Bank President Neel Kashkari will participate in a moderated Q&A at Cargill Headquarters in Minnesota, with an audience Q&A.On Wednesday, St. Louis Federal Reserve Bank President James Bullard will deliver a presentation on the “U.S. Economy and Monetary Policy” at the 2018 Economic Outlook event in St. Louis, with audience Q&A.Here’s what else is in store in The Week Ahead:NFIB Small Business Optimism Index, Tuesday, 6 a.m. ESTMBA Mortgage Applications Survey, Wednesday, 7 a.m. ESTJobless Claims, Thursday, 8:30 a.m. ESTFed Balance Sheet, Thursday, 4:30 p.m. ESTConsumer Price Index, Friday, 8:30 p.m. EST in Daily Dose, Headlines, News The Week Ahead: A New Treasury Budget and Fed Balance Sheetcenter_img January 5, 2018 602 Views Sharelast_img read more

The Mortgage Law Firm Expands its Footprint

first_img in Featured, Headlines, News, Origination, Servicing December 6, 2018 521 Views The Mortgage Law Firm Expands its Footprint The Mortgage Law Firm has announced its expansion into Oregon and Washington, adding to the firm’s existing footprint of Arizona, California, Hawaii, and Oklahoma.Jason Cotton, Owner of The Mortgage Law Firm, adds, “We opened these offices, first and foremost, to meet the current needs of our clients. But, the expansion is also a natural progression for our attorneys who grew up in the Pacific Northwest. It is important to The Mortgage Law Firm that we have meaningful roots in the states we represent and these states were a perfect fit.”Renee M. Parker joined The Mortgage Law Firm in 2017. She is currently the Managing Attorney for the firm’s Washington office. Ms. Parker has over 13 years of experience handling foreclosure matters, complex bankruptcy and civil matters, title insurance issues, and mortgage banking litigation.Parker was admitted to the Washington State Bar in 2005, California State Bar in 2008, the United States District Court of Colorado in 2010. She was also admitted to The Supreme Court of the United States in 2011 (as well as all its District State Courts), United States Courts for the 9th Circuit in 2011, the Oregon State Bar in 2014, and the Arizona State Bar in 2018.During law school, Parker worked as a Research Assistant to Cynthia Starnes in updating the Article 9 section for Thomson-West’s Michigan Compiled Laws Annotated Uniform Commercial Code Forms, 3rd Edition to reflect the massive revisions of 2001.Eric Marshack is the Managing Attorney for The Mortgage Law Firm’s Oregon Office. Marshack has over 10 years of experience specializing in lender related bankruptcy matters, foreclosure cases, trustee defense, title issues, and related litigation in state and federal courts throughout Oregon and Washington.He graduated from the University Of Oregon School of Law in 2004. During school, he was awarded the American Bankruptcy Institute Certificate of Excellence in Bankruptcy. Mr. Marshack has spent his entire legal career in the fields of bankruptcy, creditor’s rights, and related litigation. He is admitted to practice in the states of Oregon and Washington, including all Federal District Courts and Bankruptcy Courts.The Mortgage Law Firm provides comprehensive legal services in the mortgage default industry, including foreclosure, bankruptcy, loss mitigation, litigation, REO, title curative, eviction, replevin, and deeds-in-lieu. With the recent expansion, the firm currently has offices located in Temecula, California; Honolulu, Hawaii; Phoenix, Arizona; Oklahoma City, Oklahoma; Portland, Oregon; and Spokane, Washington.center_img Eric Marshack Expansion Jason Cotton Oregon Renee M. Parker The Mortgage Law Firm washington 2018-12-06 Donna Joseph Sharelast_img read more

The 2018 World Travel Awards – Australasia winners

first_imgThe 2018 World Travel Awards – Australasia winners were announced on Monday night 3 September [local time] at a gala black-tie dinner at the InterContinental Grand Stanford Hong Kong.Among the Aussie winners were:Australasia’s Leading Hotel – Sheraton on the Park, SydneyAustralasia’s Leading Destination – SydneyAustralasia’s Leading Airport Lounge – Etihad Airways Premium Lounge @ Melbourne AirportAustralasia’s Leading Business Hotel – InterContinental SydneyAustralasia’s Leading Airport – Sydney AirportAustralasia’s Leading Cruise Line – Royal Caribbean InternationalAustralasia’s (and Australia’s) Leading Travel Agency – Flight CentreFiji picked up a number of awards including for Tourism Fiji, named Australasia’s Leading Tourist Board, and Fiji awarded Australasia’s Leading Adventure Tourism Destination. Sigatoka River Safari was named Australasia’s Leading Adventure Tour Operator, and Taveuni Palms Resort in Fiji crowned Australasia’s Leading Boutique Resort.CLICK HERE for the full list of Award Winners. AustralasiaHong KongWorld Travel Awards 2018last_img read more

cruiseEvergreenTravel Shows

first_imgcruiseEvergreenTravel Shows To be held nationwide in major metropolitan centres in March and April, Evergreen Cruises & Tours Travel Shows will provide insights into Evergreen’s range of products and itineraries in Europe, France, Portugal, South East Asia, Canada and Alaska, including its award-winning river cruises.The Travel Shows are free and seats are limited, so early registration is encouraged. Attendees will enjoy special bonus offers that will be available for new bookings made at each event.last_img read more

Top Stories

first_img Top Stories Cardinals expect improving Murphy to contribute right away What an MLB source said about the D-backs’ trade haul for Greinke Nevada officials reach out to D-backs on potential relocationcenter_img D-backs president Derrick Hall: Franchise ‘still focused on Arizona’ 0 Comments   Share   last_img

Arizona Cardinals punt returner Ted Ginn Jr was n

first_imgArizona Cardinals punt returner Ted Ginn Jr. was named the NFC Special Teams Player of the Week Wednesday for his performance in Week 2.Ginn’s 71-yard punt return for a touchdown in the fourth quarter gave the Cardinals a 19-14 lead over the New York Giants. They would go on to win 25-14.The punt return touchdown was the fourth in Ginn’s career and first since Week 1 of 2011 when he returned a punt 55 yards for a score for the San Francisco 49ers in a 33-17 win over the Seattle Seahawks. Just :59 earlier, Ginn had returned a kickoff 102 yards for a score. The weekly special teams honor is the third in Ginn’s career and the 22nd time a Cardinals player has won the award. Derrick Hall satisfied with D-backs’ buying and selling Top Stories The 5: Takeaways from the Coyotes’ introduction of Alex Meruelocenter_img Comments   Share   Former Cardinals kicker Phil Dawson retires Grace expects Greinke trade to have emotional impactlast_img read more

Arizona Cardinals linebacker Chandler Jones who w

first_imgArizona Cardinals linebacker Chandler Jones, who was acquired in a trade with the New England Patriots, speaks during a news conference Wednesday, March 16, 2016, in Tempe, Ariz. (David Kadlubowski/The Arizona Republic via AP) Derrick Hall satisfied with D-backs’ buying and selling A move that has long been anticipated came to fruition Monday, as the Arizona Cardinals have placed the franchise tag on linebacker Chandler Jones. Coincidentally, it happened on Jones’ 27th birthday.The tag used is the “non-exclusive” one, which means he can receive an offer sheet from another team that the Cardinals would then have the right to match. If the Cardinals chose not to match, they would receive two first-round picks as compensation. The Cards’ tag on Jones is the first one to be filed. More to come over the next 48 hours. The linebacker tender will be at ~$14.6 million.— Albert Breer (@AlbertBreer) February 27, 2017That it got to this point is really no surprise.Jones was acquired last March with the understanding that he would be in line for free agency following the season, and though they have often expressed a desire to get a multi-year deal done, everyone from president Michael Bidwill, GM Steve Keim and head coach Bruce Arians have said the tag would be used if necessary.The Cardinals sent guard Jonathan Cooper and a second-round pick to New England hoping Jones would provide the kind of pass rush the team has struggled to find, and he delivered in his first season in the desert. The 26-year-old tallied 11 sacks, 14 QB pressures and 22 QB hits to go along with 57 total tackles, 18 tackles for loss, three passes defensed, four forced fumbles and two fumble recoveries. In part due to Jones, as well as the emergence of fellow linebacker Markus Golden, the Cardinals finished 2016 with an NFL-leading 48 sacks a season after finishing tied for 20th with 36.This is the first time the Cardinals have used the franchise tag since 2012, when they placed it on Calais Campbell in hopes of working out a long-term deal, which they did a couple months later.– / 11 Comments   Share   The 5: Takeaways from the Coyotes’ introduction of Alex Meruelo Former Cardinals kicker Phil Dawson retires Grace expects Greinke trade to have emotional impact Top Stories Should Jones not sign an offer sheet with another team or a long-term deal with the Cardinals by July 15, he will be back with in Arizona on a one-year contract for an amount that is the average of the top five salaries at his position.last_img read more

APT has launched its latest Vietnam and Cambodia R

first_imgAPT has launched its latest Vietnam and Cambodia River Cruising 2017/18 brochure and according to the luxury travel operator, there are plenty of reasons for travel agents to get excited.Commenting, APT’s Executive General Manager Global Sales and Marketing, Debra Fox said, “Our Vietnam and Cambodia programme continues to be a popular choice for guests, especially those who have travelled with us to Europe and have fallen in love with the river cruise format.“These destinations are exotic yet accessible and offer really exciting culinary and cultural experiences. We’ve got lots of stand out features in this new brochure, all designed to help our travel agents secure increased interest in these fascinating destinations,” she added.The new brochure offers a wide range of new features and reasons to book, including:The chance to sail aboard APT’s newly refurbished RV AmaLotusThe newly designed AmaLotus is now sailing the Mekong and offers 54 luxuriously appointed balcony suites.All suites feature a fully stocked mini bar and offer a free daily laundry service as standard. In addition, Sadec Suites also include a Silver Butler service plus a free spa treatment and a daily fruit platter. Guests staying in the Owner’s Suite enjoy all the benefits of a Gold Butler Service as well as extra laundry services, nightly pre-dinner canapés served in their suite and a welcome bottle of champagne.The ship features new dining locations including Le Viet Nam Café situated on the Sadec Deck. Here morning and afternoon tea will be served to all guests as they relax and watch the world go by. Also offering a place for guests to relax and recharge is the new Lotus Spa and Wellness Centre.Dining and travelling with Luke NguyenAPT’s Asia Ambassador, chef, author and television personality Luke Nguyen, is continuing his collaboration with the brand in 2017.All guests sailing aboard AmaLotus in 2017 will have the chance to dine at his new private restaurant for 16 guests – ‘Indochine by Luke Nguyen’. In addition they will enjoy a special on board Welcome Dinner designed by Luke himself.On shore, APT guests travelling on Vietnam land tours in 2017 will have exclusive access to GRAIN by Luke Nguyen cooking studio in Ho Chi Minh City. Luke’s cooking studio opened in March 2015 and delivers an authentic Vietnamese cultural and culinary experience.In Saigon guests will dine at XU Restaurant, enjoying a Luke Nguyen-inspired degustation experience.Travel agents can also book clients on tours where they get to travel with Luke himself. Luke hosts two APT tours each year. Dates sell out fast and places are limited for the 14-Day Luke Nguyen’s Vietnam and Mekong River Cruise, which departs on 28 July and 1 December 2017 and is priced from $7095 per person twin share.Both commence with three nights in Ho Chi Minh City, where Luke hosts a walking tour taking guests to sample street food and to see where his own parents grew up.This is the chance to come and meet people Luke knows and loves, see the way families bond over food and understand the way the local community interacts.Guests will also attend a cooking class with Luke at GRAIN and enjoy several special dinners, including an onboard welcome dinner which he personally prepares. Most of all it’s a great opportunity to travel with Luke as he shares his culture, cuisine and passion for this amazing destination.New luxury hotel stayAPT journeys that include two nights in Ho Chi Minh City will stay at the newly refurbished centrally located Park Hyatt in 2017.Free flights and Business Class SuperDealsA new range of SuperDeals are available for 2017. APT is offering Fly Free deals including taxes across a range of its most popular journeys. Travel agents will also be offer the chance to Fly Business Class from $995 or $2995 including taxes depending on the itinerary selected.last_img read more

The capital of Namibia Windhoek today welcomed t

first_imgThe capital of Namibia, Windhoek, today welcomed the first Qatar Airways flight to arrive at its international airport from Doha, Qatar.A VIP delegation from Doha, including Qatar Airways Chief Commercial Officer, Dr. Hugh Dunleavy and Namibia’s Ambassador to Qatar, His Excellency Mr. Japhet Isaack, was greeted at the aircraft by Mr. Digu Naobeb, Chief Executive Officer, Namibia Tourism Board and Qatar’s Ambassador to South Africa, His Excellency Mr. Salem Abdullah Sultan Al Jaber.Windhoek is the first city in Namibia to be served by Qatar Airways, which will fly to and from the destination four times a week with a Boeing 787 Dreamliner. The new route will connect passengers flying from Namibia to more than 150 global destinations via Qatar Airways’ state-of-the-art hub and home Hamad International Airport in Doha. Windhoek will be the 23rd destination in Africa served by the award-winning airline.Qatar Airways Group Chief Executive, His Excellency Mr. Akbar Al Baker, said: “We are delighted to extend our network within Africa by adding the premium leisure and business destination of Windhoek to our route map. Africa remains one of our key target areas for growth and we have identified Namibia as an important African nation to include in our expansion plans.“With the launch of this service we look forward to strengthening our ties with the people of Namibia, who we are pleased to connect with more than 150 global destinations via our hub in Doha, while supporting the country’s growing tourism industry by flying in tourists from all around the world.” Qatar Airways Chief Commercial Officer, Dr. Hugh Dunleavy (pictured right) with Qatar’s Ambassador to South Africa, His Excellency Mr. Salem Al Jaber, after the touchdown of the airline’s inaugural flight to Windhoek.last_img read more

Go back to the enewsletter Marriott International

first_imgGo back to the enewsletterMarriott International‘s renowned global luxury brand St. Regis Hotels & Resorts has signed The St. Regis Melbourne, marking the brand’s first hotel in Australia. Owned by Century Group Aus, the new-build hotel is slated to open in 2022 and will be located in the heart of Melbourne amid distinct architecture and a dynamic arts scene.Located in the luxury mixed-use precinct Flinders Bank on the corner of Spencer and Flinders Streets, the new St. Regis Melbourne will serve as a landmark gateway to the city’s bustling Central Business District.“Melbourne’s vibrant mix of world-class dining, art galleries and rich history makes it an ideal destination for the debut of the iconic St. Regis brand in Australia,” said Lisa Holladay, Global Brand Leader, St. Regis Hotels & Resorts.“We are honoured to be bringing this iconic brand to Australia,” said Connie Wu, Executive Director of Century Group Aus. “From the outset, we knew we wanted to create a hotel for today’s discerning and sophisticated traveller and the St. Regis brand’s timeless, tasteful and luxurious offering is the perfect fit. We are confident this hotel will become an architectural benchmark in the region and the jewel in the crown at Flinders Bank.”The 33-storey Flinders Bank will house the St. Regis Melbourne across levels two to 11 and include 168 luxuriously appointed guestrooms and suites, all of which will offer sweeping views of the Yarra River or city skyline.With interiors created by world-leading interior design studio, Chada, and the building designed by Fender Katsalidis Architects, The St. Regis Melbourne will be an instant icon and stylish addition to the city’s skyline.Refined food and beverage offerings will include a specialty restaurant in addition to a sophisticated Drawing Room space and the St. Regis Bar, which will serve up the local rendition of the brand’s signature cocktail, the Bloody Mary.Guests will also be able to immerse themselves in unparalleled leisure facilities, such as a fitness and wellness centre with a 25-metre indoor swimming pool and an exceptional Iridium Spa and beauty salon. Guests of The St. Regis Melbourne will also experience the renowned hallmarks of the St. Regis brand, including the legendary St. Regis Butler Service that personalises each stay according to guests’ unique tastes and preferences. The hotel will also be an ideal setting for exclusive corporate gatherings, special events and weddings.“This signing is an indication of the investment community’s confidence in the Australian hotel market, where we are seeing a growing demand for premium lodgings,” said Richard Crawford, Senior Director, Hotel Development, Australia, New Zealand and the Pacific at Marriott International.“The St. Regis Melbourne will be an outstanding addition to our strong and growing footprint in the region, where we are on-track to boast the largest portfolio of upper upscale and luxury hotels and resorts with two-thirds of the new-supply pipeline.”St. Regis Hotels & Resorts is one of the world’s fastest-growing luxury hospitality brands, more than doubling its footprint in recent years. There are currently more than 40 St. Regis-branded hotels open worldwide. For more information visit www.stregis.com.Go back to the enewsletterlast_img read more

Journey Highlights Stay in a number of specially s

first_img Journey HighlightsStay in a number of specially selected boutique accommodationsWander through the streets of old ColomboDiscover the secrets of Sri Lankan home cooking at a curated dinner in ColomboAdmire the tropical modernist aesthetic of Sri Lanka’s most influential architect, Geoffrey BawaExplore World Heritage sites in the Cultural Triangle and climb the Sigiriya rock fortressSeek out elephants and endemic wildlife at Minneriya National ParkJoin the pilgrims for a nightly prayer ritual at the Sacred Temple of the ToothLearn the secrets of Ceylonese tea in the plantations of Sri Lanka’s famous tea countryMeander through Galle Fort with a heritage expert on foot2020 Departures: 18 – 31 March; 23 September – 6 October; 4 – 17 November2021 Departures: 13 – 26 JanuaryMaximum 18 Guests | Prices start from $10,230 per person.Solo Traveller Special: Abercrombie & Kent is waiving the single supplement for the first two solo travellers booked before 31 August, 2019 on this and many other Limited Edition Small Group Journeys.All A&K Limited Edition Small Group Journeys are now available to book online with confirmation issued within 24 hours of receipt of deposit.For more details on the itinerary, click here. Go back to the e-newsletter Explore lush tea plantations, golden beaches and fascinating World Heritage sites on Abercrombie & Kent’s 14-day ‘Sri Lanka: Secrets of the Spice Island’ Limited Edition Small Group Journey.Sri Lanka is a deeply spiritual place where Buddhist values and a rich cultural heritage are interwoven with enduring colonial influences. On this journey, guests peel back the layers of the beguiling island nation, and uncover its many treasures: a serene and gentle people, fragrant and flavoursome cuisine, fascinating ruins and diverse terrain, everything suffused with a warm and welcoming tropical glow. Want to be in the luxury travel know? Subscribe to our free eNewsletter here to keep up to date with everything in the luxury travel industry. Go back to the e-newsletterlast_img read more

Wizz Air will introduce cheap flights to Rome Ciam

first_imgWizz Air will introduce cheap flights to Rome Ciampino Airport from Warsaw in September.The new flights will run three times a week and complement the existing Wizz Air airline network in Poland – which already includes services to 17 destinations from Warsaw.Wizz already offers flights to five European cities from Rome’s two airports. From Rome Ciampino the airline serves Katowice, Bucharest, and provides cheap flights to Sofia, Budapest and Cluj Napoca from Rome Fiumicino.As well as international flights, Wizz Air Ukraine has been focusing on domestic services in the country.Flights between Kiev and Lviv, Odessa and Simferopol will start in July, with expansion at the Kiev base offering flights to London, Milan and Dortmund in September.ReturnOne wayMulti-cityFromAdd nearby airports ToAdd nearby airportsDepart14/08/2019Return21/08/2019Cabin Class & Travellers1 adult, EconomyDirect flights onlySearch flights Map RelatedNew flights to Prague will be launched by Wizz AirCheap flights carrier Wizz Air will launch new flights to Venice/Treviso from Prague in September.New Kiev-London route from Wizz AirWizz Air will be introducing a new route from London’s Luton Airport to Kiev, Ukraine this winter.Wizz Air unveils new Paris-Cluj routeWizz Air unveils new Paris-Cluj routelast_img read more

Related Skyscanner reveals most popular Easter 200

first_img RelatedSkyscanner reveals most popular Easter 2009 holiday destinationsSkyscanner reveals most popular Easter 2009 holiday destinations10 of the best European city breaks for Easter weekendIf you’re wondering where to go for that long Easter weekend, how about four days in Paris, Copenhagen, or Berlin? Here are the best destinations to fly away for this Bank Holiday weekend, from Good Friday (April 14th) to Easter Monday (April 17th).Bargains of the week: Berlin | Faro | BarcelonaBargains of the week: Berlin | Faro | Barcelona Malaga (from £21 return)Eternal favourite Malaga is always a big choice for Easter and is a well established, Brit friendly holiday spot. Despite the recent anti-eurozone trend, Spain still remains good value and consistently ranks in the top three most popular destinations for Skyscanner users.Find cheap flights to MalagaBerlin (from £28 return)If you want an Easter break with a mix of history, culture and plenty of party time, Berlin is a great choice. Young, sexy and renowned for its excellent nightlife, Germany’s largest city wins high praise from Skyscanner staff. Try classic German fare such as ham knuckle with mash and sauerkraut, bratwust (sausage) or maultaschen (stuffed noodles), all washed down with a mug of Berliner Weiss, the local beer.Find cheap flights to BerlinAmsterdam (from £42 return)A great city for an Easter getaway, Amsterdam lives a dual existence; the ample coffee shops and red light districts are a garden of forbidden delights but Amsterdam is also a high class city with top museums, galleries and concert venues, not to mention beautiful architecture and an incredible canal system.Find cheap flights to AmsterdamReturnOne wayMulti-cityFromAdd nearby airports ToAdd nearby airportsDepart14/08/2019Return21/08/2019Cabin Class & Travellers1 adult, EconomyDirect flights onlySearch flights Map With Easter holidays looming, Skyscanner takes a look at cheap flights for Easter breaks.last_img read more

Sao Paolo Brazil – Reported by Elite Traveler th

first_imgSao Paolo, Brazil – Reported by Elite Traveler, the Private Jet Lifestyle MagazineOn the occasion of the Interlagos Grand Prix in Brazil, Viviane Senna and the Instituto Ayrton Senna unite the entire Formula 1 family, along with Ayrton Senna’s friends and loved ones, in São Paulo to commemorate what would have been the driver’s 50th birthday.To mark the event, 400 guests attended the premiere of the documentary “Senna” and discovered the exceptional timepieces created by Hublotin support of Instituto Ayrton Senna.On the evening of November 3rd, Viviane Senna, Ayrton Senna’s sister and president of the Instituto Ayrton Senna founded in 1994, has chosen the week of the Interlagos Grand Prix as the occasion to bring together only the closest of Ayrton Senna’s friends and family to commemorate what would have been the 50th birthday of the legendary driver who tragically lost his life on the Imola racetrack in 1994. To mark this special event, Paramount Pictures has offered Viviane Senna the opportunity of an advance screening of the new documentary-film “Senna” directed by Asif Kapadia and produced jointly by Working Title and Universal.Given Hublot’s long-standing relationship with the Instituto, Viviane Senna did not hesitate to ask the Swiss brand to participate in this event. It was a natural opportunity for Hublot to present an exceptional edition of new timepieces dedicated to the driver and cement its support of the Instituto: The King Power Ayrton Senna, a split second chronograph movement with power reserve indicator – a limited edition of 500 numbered pieces, stamped with Ayrton Senna’s signature – made entirely from materials used in Formula 1, such as carbon fibre for the case (a first for Hublot), ceramic, Nomex…and The King Power Tourbillon Ayrton Senna, 10 exceptional tourbillons manufactured entirely by Hublot – 10 unique commemorative pieces with a different engraving on the case-back of each watch, showing one of 10 highlights in the driver’s career, chosen by his sister and mother.The event took place in the most luxurious of cinema complexes located in South São Paulo, the Cinemark Bradesco Prime, and was attended by Viviane Senna and her son Bruno Senna, a budding F1 driver also supported by Hublot, as well as former F1 driver and friend of Ayrton Senna, Emerson Fittipaldi, Hublot Managing Director Ricardo Guadalupe, Asif Kapadia who directed “Senna”, Working Title Managing Director Eric Fellner, and Mano Menezes, the coach of Brazil’s national football team, and many others.www.hublot.comlast_img read more

Ever the technological innovator luxury watchmake

first_imgEver the technological innovator, luxury watchmaker and jeweler Boucheron has created a unique, interactive application that will allow iPhone users to virtually “try on” their favorite pieces from the House.Clients can choose from a variety of haute products, take a snapshot of their wrist or hand using the iPhone’s built-in camera, and simply slide the product image on. The image can then be sent to friends and family—whether to get a second opinion, or drop a serious hint.In addition to a selection of Boucheron’s most desired designs, the new application also offers a store locator and a phone background that doubles as a time display, depicting the popular Paname watch. It is available in both English and French, starting this month.Visit www.boucheron.com for more information.last_img read more

NEW YORK NY — Andrew Harpers Hideaway Report has

first_imgNEW YORK, NY — Andrew Harper’s Hideaway Report has named Aman at Summer Palace in Beijing its Hideaway of the Year. According to a press release received by Elite Traveler, this is the first time any hotel has ever received a 99-point rating from the legendary anonymous reviewer. The Hideaway of the Year and sixteen Grand Award winners were revealed in the January 2010 issue of the Hideaway Report.Of Aman at Summer Palace, Andrew Harper notes, “Adjacent to the East Gate of the historic Summer Palace, the property is housed within a series of pavilions – some of them century-old dwellings used by those awaiting an audience with the Empress Dowager Cixi – and presents a serenely romantic vision of a bygone China. After our experience, we can only say that the opportunity to stay in this unique location is both a treat and a privilege.”In addition, sixteen hotels and resorts around the world have been designated 2010 Grand Award winners by the Hideaway Report:Crosby Street Hotel , New York Madrona Manor, Napa Valley La Malcontenta, Catalonia Finca Cortesin Hotel, Andalusia Hotel Kendov Dvorec, Slovenia Villa Miločer, Montenegro Banyan Tree Ringha, China Six Senses Hideaway Samui, Thailand La Reserve, Ramatuelle, France L’Hotel de Toiras, Brittany Hotel Duchessa Isabella, Ferrara Locanda il Rigoletto, Emilia-Romagna, Italy Kulefu Camp, Zambia Sussi & Chuma, Zambia Park Hyatt Shanghai Rosewood Mayakoba, Riviera MayaGrand Award winners represent the creme de la creme of the hotels and resorts that Andrew Harper has visited during the previous 12 months. To be considered, properties must be relatively small, possess distinctive characters and demonstrate an unwavering commitment to personal service and refined hospitality. Mr. Harper does not evaluate hotels by means of a checklist, but uses his three decades of experience to identify those qualities that separate the good from the truly enchanting.last_img read more

LE SENTIER SWITZERLAND — Watchmaker JaegerLeCoul

first_imgLE SENTIER, SWITZERLAND — Watchmaker Jaeger-LeCoultre has launched “Jaeger-LeCoultre – The Official Page” on Facebook for fans to share direct news from the house.Among the exclusive reports friends of Jaeger-LeCoultre will receive are briefs on The Geophysic Expedition, the conquest of a previously unexplored mountain in Nepal, now named Antoine LeCoultre with extracts from the journal of Swiss Climber Stephane Schaffter, along with pictures and biographies of climbers.According to a press release received by Elite Traveler, “fans can share the intensity, the ups and downs of this extreme ascent through the journal of the expedition team.”On January 18, 2010, friends will be among the first to discover in Avant-Première the latest creation of Jaeger-LeCoultre announced during the annual S.I.H.H. watch fair held in Geneva.last_img read more