Word: cammisa
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Dates: during 1990-1999
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While the ambling spirit may be willing, however, the recession has weakened many tourists' ability to pick up and go. "After the war there were a lot of hopes that things would rebound by themselves," says James Cammisa Jr., who publishes the monthly newsletter Travel Industry Indicators. "The airlines waited two to three weeks, hoping that pent-up demand would be reflected in the bookings. It wasn't." Already buffeted by a surge in fuel costs after Iraq's invasion of Kuwait, travel companies watched in horror as air carriers' revenue-passenger miles for February plunged 26.8% internationally...
Will these extravagant promotions resurrect the tourism trade? "Consumer fundamentals remain weak," Cammisa warns. His advice to industry professionals: "Don't fix the hotel or paint the ship for the people who are coming. They aren't going to be coming." But Cammisa's gloom may prove misguided. American Airlines booked 1 million reservations in the first week after it lowered its prices in mid-March. American Express reports that the low airfares are working so well that its travel agents are having trouble finding space on flights to Europe...