Skip to content

Search

Latest Stories

Sunak is UK’s first Indian prime minister

He says he has been elected to fix ‘mistakes’ made by his predecessor

Sunak is UK’s first Indian prime minister

RISHI SUNAK MADE his first speech as Britain’s prime minister on Tuesday (25), acknowledging the mistakes of his predecessor Liz Truss while vowing to fix the economy, lead with integrity and fulfil the promises of the Conservative Party’s 2019 manifesto.

Below are the highlights from Sunak’s speech:


ON THE ECONOMY

“Our country is facing a profound economic crisis. The aftermath of Covid still lingers. Putin’s war in Ukraine has destabilised energy markets and supply chains the world over.”

“I will place economic stability and confidence at the heart of this government’s agenda. This will mean difficult decisions to come.”

MISTAKES WERE MADE

“I want to pay tribute to my predecessor Liz Truss. She was not wrong to want to improve growth in this country. It is a noble aim. And I admired her restlessness to create change.

“But some mistakes were made — not born of ill will, or bad intentions. Quite the opposite, in fact. But mistakes, nonetheless. And I have been elected as leader of my party and your prime minister, in part to fix them.”

ON BORIS JOHNSON

“I will always be grateful to Boris Johnson for his incredible achievements as prime minister and I treasure his warmth and generosity of spirit. And I know he would agree that the mandate my party earned in 2019 is not the sole property of any one individual. It is a mandate that belongs to and unites all of us. And the heart of that mandate is our manifesto. I will deliver on its promise. ”

ON THE CHALLENGE AHEAD

“I fully appreciate how hard things are. And I understand too that I have work to do to restore trust, after all that has happened. All I can say is that I am not daunted. I know the high office I have accepted and I hope to live up to its demands.”

NO DEBTS FOR NEXT GENERATION

“The government I lead will not leave the next generation —your children and grandchildren — with a debt to settle that we were too weak to pay ourselves.”

I WILL EARN YOUR TRUST

“I will unite our country not with words, but with action. I will work day in, and day out to deliver for you. This government will have integrity, professionalism, and accountability at every level. Trust is earned and I will earn yours.”

FULFILLING MANIFESTO’S PROMISES

“I will deliver on (our manifesto’s) promise. A stronger NHS, better schools, safer streets, control of our borders, protecting our environment, supporting our armed forces, levelling up, and building an economy that embraces the opportunities of Brexit where businesses invest, innovate and create jobs.”

Asian Hospitality’s parent company, Asian Media Group, is based in London. This story originally appeared in Asian Hospitality’s sister publication Eastern Eye.

More for you

Peachtree Group Inc. 5000 2025

Peachtree receives two recognitions

Summary:

  • Peachtree recognized by Inc. and the Atlanta Business Chronicle.
  • Named to the 2025 Inc. 5000 list for the third year.
  • Chronicle’s Pacesetter Awards recognize metro Atlanta’s fastest-growing companies.

PEACHTREE GROUP ENTERED the 2025 Inc. 5000 list for the third consecutive year. The company also won the Atlanta Business Chronicle Pacesetter Awards as one of the city’s fastest-growing private companies.

Keep ReadingShow less
AHLA Foundation expands hospitality education

AHLA Foundation expands hospitality education

Summary:

  • AHLA Foundation is partnering with ICHRIE and ACPHA to support hospitality education.
  • The collaborations align academic programs with industry workforce needs.
  • It will provide data, faculty development, and student engagement opportunities.

THE AHLA FOUNDATION, International Council on Hotel, Restaurant and Institutional Education and the Accreditation Commission for Programs in Hospitality Administration work to expand education opportunities for students pursuing hospitality careers. The alliances aim to provide data, faculty development and student engagement opportunities.

Keep ReadingShow less
Hotel data challenges report highlighting AI and automation opportunities in hospitality

Survey: Data gaps hinder hotel growth

Summary:

  • Fragmented systems, poor integration limit hotels’ data access, according to a survey.
  • Most hotel professionals use data daily but struggle to access it for revenue and operations.
  • AI and automation could provide dynamic pricing, personalization and efficiency.

FRAGMENTED SYSTEMS, INACCURATE information and limited integration remain barriers to hotels seeking better data access to improve guest experiences and revenue, according to a newly released survey. Although most hotel professionals use data daily, the survey found 49 percent struggle to access what they need for revenue and operational decisions.

Keep ReadingShow less
Hyatt Way partnership

Hyatt taps Way for unified guest platform

Summary:

  • Hyatt partners with Way to unify guest experiences on one platform.
  • Members can earn and redeem points on experiences booked through Hyatt websites.
  • Way’s technology supports translation, payments and data insights for Hyatt.

HYATT HOTELS CORP. is working with Austin-based startup Way to consolidate ancillary services, loyalty experiences and on-property programming on one platform across its global portfolio. The collaboration integrates Way’s system into Hyatt.com, the World of Hyatt app, property websites and FIND Experiences to create a centralized booking platform.

Keep ReadingShow less
Report: CMBS delinquency rate hits 7.23 percent in July

Report: CMBS delinquency rate hits 7.23 percent in July

Summary:

  • U.S. CMBS delinquency rate rose 10 bps to 7.23 percent in July.
  • Multifamily was the only property type to increase, reaching 6.15 percent.
  • Office remained above 11 percent, while lodging and retail fell.

THE U.S. COMMERCIAL mortgage-backed securities delinquency rate rose for the fifth consecutive month in July, climbing 10 basis points to 7.23 percent, according to Trepp. The delinquent balance reached $43.3 billion, up from $42.3 billion in June.

Keep ReadingShow less