Business
Buffett’s Berkshire to buy Dominion Energy gas assets for $4 billion
(Reuters) – Berkshire Hathaway Inc (BRKa.N) said its energy unit will buy Dominion Energy Inc’s (D.N) natural gas transmission and storage network for $4 billion, helping billionaire Chairman Warren Buffett reduce his conglomerate’s cash pile while letting Dominion focus on utilities operations.
The transaction announced on Sunday includes more than 7,700 miles (12,390 km) of natural gas transmission lines and 900 billion cubic feet of gas storage.
Berkshire Hathaway Energy is buying Dominion Energy Transmission, Questar Pipeline, Carolina Gas Transmission, 50% of the Iroquois Gas Transmission System, and 25% of the Cove Point liquefied natural gas facility in Maryland.
Dominion will retain 50% of Cove Point. Brookfield Asset Management Inc (BAMa.TO) owns 25%.
The Berkshire unit will also assume $5.7 billion of debt, giving the transaction a $9.7 billion enterprise value. It expects a fourth-quarter closing, pending regulatory approvals.
“We are very proud to be adding such a great portfolio of natural gas assets to our already strong energy business,” Buffett said in a statement.
Dominion expects up to 90% of future operating earnings to come from utilities.
The company and Duke Energy Inc (DUK.N) separately announced on Sunday they would abandon their $8 billion Atlantic Coast Pipeline, running under the Appalachian Trail and through West Virginia, Virginia and North Carolina.
Dominion and Duke cited delays and uncertain costs, despite a favorable U.S. Supreme Court decision last month.
Berkshire controls 91.1% of Berkshire Hathaway Energy, which owns the MidAmerican Energy, NV Energy and PacifiCorp utilities, natural gas pipelines, wind power assets and electricity businesses in Britain and Canada.
The unit accounted for 12% of Berkshire’s $23.97 billion of operating profit in 2019. Its chairman, Greg Abel, is also a Berkshire vice chairman.
Berkshire ended March with $137.2 billion of cash, reflecting Buffett’s four-year inability to find major acquisitions, even as the coronavirus pandemic took hold and stock prices plunged.
Berkshire Hathaway Energy declined additional comment.
Reporting and photo: Reuters
Business
Pulse Hotels’ Malik Mohamed to deliver presentation at Hotelier Maldives GM Forum 2024
Malik Mohamed, Director of Business Intelligence at Pulse Hotels & Resorts, is set to deliver a presentation at the upcoming Hotelier Maldives GM Forum 2024. The GM Forum, the largest gathering of hospitality professionals in Maldives, will take place on September 19 at CROSSROADS Maldives.
Malik’s presentation, titled “Business Intelligence and Revenue Optimisation,” will address key strategies and insights related to maximising revenue through effective business intelligence practices. His session is expected to provide valuable information for hotel managers and industry professionals attending the forum.
Ali Naafiz, Editor of Hotelier Maldives, commented on the inclusion of Mohamed’s presentation in the forum, stating, “The GM Forum continues to bring together experts who can share practical and relevant knowledge. Malik Mohamed’s presentation will offer attendees a chance to gain a deeper understanding of how business intelligence can drive revenue growth.”
This year’s GM Forum, now in its eighth edition, will focus on ‘The Evolving Luxury Landscape’ in the Maldives. Industry leaders will discuss the future of luxury travel, including the new luxury traveller’s psyche, digital marketing, and sustainable practices. Topics will cover private islands, underwater experiences, and the opportunities and challenges faced by hoteliers in the country. The forum will feature diverse panels and interactive sessions, emphasising personalised guest experiences and local cultural integration. It aims to foster active participation and share innovative case studies from the luxury travel industry.
Sponsors and partners of GM Forum 2024 include:
- Ooredoo Maldives: Digital Partner (Title Sponsor)
- Bestbuy Maldives (BBM): Silver Sponsor
- Dhivehi Insurance: Silver Sponsor
- Fuel Supplies Maldives: Silver Sponsor
- Manta Air: Aviation Partner
- Male’ Aerated Water Company: Beverage Partner
- Atmosphere Wellness: Wellness Partner
- Souvenir Marine: Transport Partner
- Printlab: Printing Partner
- CROSSROADS Maldives: Venue Partner
- Lights Out: Coverage Partner
- Associate Sponsors: Alia Investments, Villa Hakatha, GAGE, Wyntronix, Uniforms Unlimited and Spa Ceylon Maldives
With Mailk Mohamed joining the lineup of speakers and presenters, the Hotelier Maldives GM Forum 2024 will offer attendees insights into the latest developments in digital payment technologies and their applications in the Maldivian hospitality sector.
John Bevan, CEO of dnata Travel Group, will serve as the keynote speaker at the Hotelier Maldives GM Forum 2024. The event will also feature Etienne Ng, Regional Director for Southeast Asia at Weixin Pay (WeChat Pay), as a featured speaker. Both leaders are expected to share valuable insights relevant to the Maldivian hospitality industry during the forum.
Business
Etienne Ng, Regional Director for Southeast Asia at Weixin Pay (WeChat Pay), to speak at Hotelier Maldives GM Forum 2024
Hotelier Maldives has announced that Etienne Ng, Regional Director for Southeast Asia at Weixin Pay (WeChat Pay), will be a featured speaker at the Hotelier Maldives GM Forum 2024. The GM Forum, the largest gathering of hospitality professionals in Maldives, will take place on September 19 at CROSSROADS Maldives.
Etienne Ng leads Weixin Pay’s operations across Southeast Asia, where the platform has seen substantial growth. His session at the forum will primarily focus on Chinese travel trends and their spending behaviour. He will also highlight the role of digital payments in enhancing guest experiences and operational efficiency within the hospitality industry.
Ali Naafiz, Editor of Hotelier Maldives, commented on the announcement: “Etienne Ng’s participation at the Hotelier Maldives GM Forum 2024 will offer attendees valuable insights into the growing impact of digital payments in the tourism and hospitality sectors. His experience in managing Weixin Pay’s expansion in Southeast Asia makes him a key voice in discussions about the future of payment solutions in the industry.”
This year’s GM Forum, now in its eighth edition, will focus on ‘The Evolving Luxury Landscape’ in the Maldives. Industry leaders will discuss the future of luxury travel, including the new luxury traveller’s psyche, digital marketing, and sustainable practices. Topics will cover private islands, underwater experiences, and the opportunities and challenges faced by hoteliers in the country. The forum will feature diverse panels and interactive sessions, emphasising personalised guest experiences and local cultural integration. It aims to foster active participation and share innovative case studies from the luxury travel industry.
Sponsors and partners of GM Forum 2024 include:
- Ooredoo Maldives: Digital Partner (Title Sponsor)
- Bestbuy Maldives (BBM): Silver Sponsor
- Dhivehi Insurance: Silver Sponsor
- Fuel Supplies Maldives: Silver Sponsor
- Manta Air: Aviation Partner
- Male’ Aerated Water Company: Beverage Partner
- Atmosphere Wellness: Wellness Partner
- Souvenir Marine: Transport Partner
- Printlab: Printing Partner
- CROSSROADS Maldives: Venue Partner
- Lights Out: Coverage Partner
- Associate Sponsors: Alia Investments, Villa Hakatha, GAGE, Wyntronix, Uniforms Unlimited and Spa Ceylon Maldives
With Etienne Ng joining the lineup of speakers, the Hotelier Maldives GM Forum 2024 will offer attendees insights into the latest developments in digital payment technologies and their applications in the Maldivian hospitality sector.
John Bevan, CEO of dnata Travel Group, will be the keynote speaker at the event. Hotelier Maldives will soon announce additional speakers, presenters, and panel discussions, further shaping the forum’s agenda.
Business
John Bevan, CEO of dnata Travel Group, announced as Keynote Speaker for Hotelier Maldives GM Forum 2024
The Hotelier Maldives GM Forum 2024 is set to welcome John Bevan, CEO of dnata Travel Group, as the keynote speaker. The GM Forum, the largest gathering of hospitality professionals in Maldives, will take place on September 19 at CROSSROADS Maldives.
John oversees 30 travel brands in various sectors across 20+ countries. He joined dnata in November 2017 as CEO B2B Europe after serving as COO of Spafinder Wellness in Miami. In May 2018, his role at dnata expanded to include all B2B and B2C trading brands within the UK.
John, who has held several non-executive director posts in travel, as well as served on the board of both the UK’s Institute of Travel & Tourism and Association of British Travel Agents, will share his insights on the evolving landscape of global travel and its implications for the Maldives’ hospitality sector. His keynote address is highly anticipated, given his leadership role at dnata Travel Group, a global powerhouse in travel services.
“We are thrilled to have John Bevan as our keynote speaker this year. His vast experience and forward-thinking approach will provide invaluable perspectives to our attendees. The GM Forum is a platform for knowledge exchange and innovation, and having a leader of John’s caliber underscores our commitment to excellence,” Ali Naafiz, Editor of Hotelier Maldives, said.
This year’s GM Forum, now in its eighth edition, will focus on ‘The Evolving Luxury Landscape’ in the Maldives. Industry leaders will discuss the future of luxury travel, including the new luxury traveller’s psyche, digital marketing, and sustainable practices. Topics will cover private islands, underwater experiences, and the opportunities and challenges faced by hoteliers in the country. The forum will feature diverse panels and interactive sessions, emphasising personalised guest experiences and local cultural integration. It aims to foster active participation and share innovative case studies from the luxury travel industry.
Sponsors and partners of GM Forum 2024 include:
- Ooredoo Maldives: Digital Partner (Title Sponsor)
- Bestbuy Maldives (BBM): Silver Sponsor
- Dhivehi Insurance: Silver Sponsor
- Fuel Supplies Maldives: Silver Sponsor
- Manta Air: Aviation Partner
- Male’ Aerated Water Company: Beverage Partner
- Atmosphere Wellness: Wellness Partner
- Souvenir Marine: Transport Partner
- Printlab: Printing Partner
- CROSSROADS Maldives: Venue Partner
- Lights Out: Coverage Partner
- Associate Sponsors: Alia Investments, Villa Hakatha, GAGE, Wyntronix, Uniforms Unlimited and Spa Ceylon Maldives
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