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So this spike we've seen an oil particularly over the past two weeks is pushing gasoline and energy prices even higher forcing Americans to dig deeper into their wallets.
Those higher costs could impact the travel industry joining us now is who bear Jolie -- is.
Carlson president and CEO bear great to see you thanks for coming -- are are you concerned they don't let that they have the prices of energy may.
Impede people's ability to travel.
That's pretty good hotels and as a global hospitality and travel company with reticent country inns and suites Friday's -- -- -- councilman -- travel.
We have pulse on the economy and absorbed by held to travel and tourism industry is is showing great resiliency.
You know since the financial crisis -- for -- efforts to -- very nice recovery in the US to travel and tourism industry has increased jobs by about -- -- cents.
We're seeing great continued momentum in even in Europe in Athens the hotels are pretty full because you have so many.
You know executives from the IMF this the European Central Bank can -- thing.
You also have the you know in the US would continue to add jobs so that's a positive factor.
Then you have the emergence of these soon you know countries China India Brazil Russia.
With hundreds of millions of new travelers who are eager to come in visits and so these are.
Gross factor assume you know great resiliency.
-- I -- that you're seeing a silver lining in the Greek situation with all the I have met people try to solve the crisis filling the hotel rooms but.
-- -- 70% of your development I see is really in the emerging markets where reducing the biggest opportunities can you pick one or two points on the globe.
Yeah in in 2011 we've signed more than eighty there -- new hotels around the world more than 50000 -- It's roughly a third in the America as a -- in Europe -- -- in Africa.
In a third in Asia Pacific so the key markets are where there is that most economic growth and -- it needs for infrastructure so in India.
You know we've opened more than fifteen hotels last year former Soviet Union Africa is also very interesting -- hard to see how it's.
Is growing so we're taking our brands -- country inns and suites and TGI -- to these markets attributed to the emerging markets.
Brazil India China.
Russia Africa the key markets and.
I'm interest -- how you seem to be doubling down on the bet on the higher -- product you have you have.
Some is you get your earpiece in their Radisson -- which is again a higher end product in the travel industry.
Why -- are you focusing more on that right now do you think that's where the real market shares gonna grow.
They're -- you know we're focused on a variety of segments -- and -- -- upper upscale -- we have about 200 of these around the world.
We has it's it's a -- studied in Europe we're taking into the US we've opened the first.
Listen to a hotel in Chicago -- of 2011 we gonna do another one.
In Minneapolis at the beginning of thirteen we now have thirty in Asia so upper upscale is very -- -- to the business travelers to the affluence.
So that's a key area of focus for us between India emerging markets were also very focused on the mid scale segments because the the traveling salespeople they they they cannot afford to same luxury or.
Upper upscale -- -- You know we have country inns and suites that we are growing in if you get so homegrown brand in the US between -- -- to India but can buy Radisson we you have admits -- -- Taking it -- to India to Russia.
To Brazil and so we have a multi tier.
Pressure that many opportunities to grow and -- we're investing you know in that.
In product development in revenue generation contributed -- Yeah on the road and let me jump in here because I I -- -- of Fox Business -- but stayed at the country and suites in Omaha Nebraska.
And I mean we know everybody for your regular there they're fantastic -- and free Wi-Fi so what's the next free Wi-Fi that we're gonna start adding because that has been something that -- held close to what you think it's a big draw for here.
He had the good travelers really expect now to have free Wi-Fi in the same way that they have free reporter in the in in this hour.
Learned about from so.
You know of our country inns and suites -- around the US Wi-Fi is free you know of -- Radisson properties around the world where one of the only brands may be the only Branson does that around the world consistently.
It's quite natural in the the -- -- is more bandwidth because -- when your chicken rightly as you phobia of your laptop your regular.
Smartphone you probably haven't tablets so you have the army needs one -- -- inventory connection -- we investing heavily.
In the connectivity we -- investing also.
In the admitted -- to order room service on the TV screen so they say they're good innovation going on here.
If they -- thank you very much the bearish on the as president and CEO Carl Simon.
And say hi to -- the manager at the F country inn and suites is really nice -- and it's our new web confounded thank you Q Luxembourg.
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