Consumer confidence is perking up and with summer around the corner, Americans might be feeling a little more liberal with their travel budget, according to some trendwatchers and people in the travel industry.
“Our train counts are three times what they were last year,” said Bruce Brossman, director of reservations and sales at the Grand Canyon Railway, which expected to sell out on Memorial Day weekend.
The Grand Canyon itself typically draws large crowds over long holiday weekends, but secondary attractions like the two-hour scenic train ride up from Williams, Arizona, suffered in the recession.
Brossman says much of the rise in bookings was due to resurgent consumer confidence.
“Last year was a really tough time and people were really hunkered down and not spending discretionary dollars, and I think that there’s pent-up demand for travel,” Brossman said.
“Last year, everybody hunkered down,” said Tim Kirwan, general manager of the InterContinental Boston hotel, operated by InterContinental Hotel Group .
“They wanted the least expensive room rate and they essentially wanted to go across the street and get a coffee at the donut shop and forgo breakfast,” Kirwan added.
But this weekend, the hotel served 452 breakfast and brunch meals on Saturday, Sunday and Monday, nearly 10 percent more than the previous year, with guests paying $24 for breakfast and $32 for brunch.
“We were jammed,” Kirwan said. “There didn’t seem to be any hesitation at all in terms of spending up.”
The increase in spending may have extended to the gasoline pump– the Illinois Tollway, reported a 5.2 percent uptick in transactions over the holiday weekend (Thursday, May 28 through Monday May 31).
Experts say the uptick in travel is likely to continue through the rest of the summer.
Did you travel over Memorial Day weekend? Are you planning to spend more on travel? Will you travel more or less than last year?
* Cracks not like Progress Florida Crystal River reactorBy Scott DiSavinoNEW YORK, Oct 17 (Reuters) - FirstEnergy has
discovered small cracks in a concrete shield building at the
Davis-Besse nuclear power plant in Ohio, which was shut for a
reactor vessel head replacement, a spokesman for the Ohio-based
energy company said Monday.”We don’t believe there will be a problem with the schedule
to replace the vessel head. Engineers are conducting a thorough
investigation of the cracks. We should have an answer later
this week,” FirstEnergy spokesman Todd Schneider told Reuters.The cracks were minor and there was no chance of radiation
leakage, FirstEnergy said. Also, fuel had been removed from the
reactor as the company prepared to replace vessel head.Schneider was quick to point out that the cracks were
different than the concrete problems with the containment dome
at Progress Energy’s Crystal River nuclear plant in
Florida, which shut in September 2009.At Crystal River, workers discovered a gap in the concrete
containment dome while working to replace the steam generators.
The plant is not expected to return until at least 2014.FirstEnergy discovered the cracks about a week ago and the
NRC sent a concrete expert to join other NRC personnel that
were already overseeing the vessel head replacement, said U.S.
Nuclear Regulatory Commission spokeswoman Viktoria Mitlyng.She said the NRC would review any findings FirstEnergy’s
engineers come up with.The “microcracks” at 879-megawatt Davis-Besse were barely
visible, said Schneider. They were discovered while workers
were cutting away the concrete with pressurized water to access
the vessel head.The shield building is a 250-foot (76.2 meters) tall
structure and has two-and-a-half-foot thick concrete
surrounding a steel containment structure. The steel
containment surrounds the pressurized water reactor’s vessel
and steam generators and is designed to keep radioactive
materials within the reactor in case of an accident.Davis-Besse is in Oak Harbor about 120 miles (193 km) north
of Columbus, the state capital, and can generate enough power
for more than 800,000 Ohio homes.THIRD VESSEL HEADThis is Davis-Besse’s third reactor vessel head.Schneider said the discovery of the cracks has not impacted
the work schedule but he could not say when the reactor was
expected to return to service. He did note the outage was
expected to last longer than a typical refueling outage.The reactor shut on Oct. 1. A typical refuel lasts about
four weeks. Electricity traders guessed Davis-Besse would
return after about six weeks in the middle of November.The company was moving forward with the head replacement
work, Schneider said. It will next cut the steel reinforcement
bars that support the concrete in the shield building before
cutting through the inner steel containment structure.The concrete shield building and steel containment
structure, which are separated by at least a few feet, do not
have doors big enough for the reactor vessel head, which is
nearly 17 feet in diameter and weighs more than 82 tons (74,389
kilograms), FirstEnergy said.It cost FirstEnergy about $600 million to replace the first
vessel head ($300 million) and buy replacement power ($300
million) after workers in 2002 discovered borated water, which
acts as the reactor coolant, leaked from a control rod drive
mechanism and ate a six inch hole in the first vessel head. The
plant did not return to service until 2004.In 2010 during a scheduled refueling outage, the company
found small cracks in the control rod nozzles and decided to
replace the second vessel head. Schneider said this head
replacement project would cost about $115 million.
“We have identified the cause of this disruption in a
third-party database. The database vendor has issued a patch and
we are making sure extra controls are in place to ensure there
is no repeat of this occurrence,” a Thomson Reuters spokeswoman
said.The outage began at 0831 GMT and lasted until 1005 GMT. The
last major disruption to Thomson Reuters Matching was in March
2011 and lasted four hours.Major currencies for which Thomson Reuters dealing is a
liquidity provider include sterling against the U.S. dollar
, the Australian dollar , and the New Zealand dollar
.Some market participants were able to switch to the rival
ICAP-owned EBS system during the outage.”It was a bit of an issue for a while, almost like having
your legs taken away, but we quickly found another host for the
relevant currencies. I would imaging EBS had quite a good day,”
one London-based trader who asked not to be named said.Another trader said: “A lot of the algos had to pull out
because they lost a source of price-checking. It felt to us like
it was a market from 10 years ago.”Spot volumes in Thomson Reuters Dealing and Matching
together reached $176 billion in September, the second-highest
month on record. Thomson Reuters does not break out separate
figures for the two systems.
Output of uranium oxide in the third quarter was 1,010
tonnes, up 11 percent from the same period a year ago, the
company said. It maintained production guidance for the year.
** 99 Cents Only Stores said it will be
acquired by affiliates of Ares Management LLC and Canada Pension
Plan Investment Board for about $22 per share in cash, or $1.6
billion.** Jones Group Inc , a maker of clothing,
shoes and accessories, is in talks to sell its stagnatin
jeanswear division as it continues to shift its focus to its
more profitable luxury brands for up to $400 million.** Sinopec International Petroleum Exploration and
Production Corp (SIPC), a wholly-owned unit of state-owned
Sinopec Group, has completed the purchase of an 18 percent stake
in Chevron Corp’s Indonesian deep-water project for $680
million, a Sinopec official told Reuters on Tuesday.** Broadband technology and software provider
ARRIS Group Inc said it is to buy BigBand Networks
, a video networking service provider, for $2.24 per
share in cash — a premium of 76 percent — to strengthen its
networked video technology capabilities.** Payment processor Heartland Payment Systems Inc
said its unit Heartland School Solutions acquired
privately held School-Link Technologies Inc, for an undisclosed
amount, to expand its market share in the school services
payments industry.** Murata Manufacturing Co said on Tuesday it
plans to acquire Finland’s sensor maker VTI Technologies for 20
billion yen ($261 million), including debt, as it seeks to
expand in the growing market for smaller and low-energy sensors.** Eurasian Natural Resources Corp said it plans to
buy the outstanding 75 percent of Kazakh coal producer Shubarkol
Komir for up to $600 million plus assumed debt of about $50
million.** UK based holding company Chime Communications PLC
said it will buy Gulliford Consulting Limited for an initial
consideration of 2.5 million pounds ($3.9 million) in a cash and
stock deal.