Caesars is down about 25%, while Carnival Cruise, which shares that travel and leisure sector, is pretty much flat.
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While the initiative is currently aimed at tour operators in the leisure sector, Krahenbuhl sees a wider application for business travelers.
The warning came with publication of the Blueprint for Tourism, the most comprehensive survey ever undertaken of the tourism and leisure sector in the province.
Until recently, the demand for global hotel brands and good air links mainly came from overseas business travellers, mainly Chinese and Europeans, and the business and leisure sector afforded by domestic oil and gas wealth.
If, for example, the fund invests in the hotel or leisure sector, the Sharia board must be satisfied that the income that will be used to repay the investors, in the form of rental or return on investment, is not made up of income from the sale of prohibited items such as alcohol.
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On the other hand the government does not want to set up a Leveson-style inquiry into the banks in haste only to repent at leisure when many in the financial sector conclude that London is no longer a place where they and their business are welcome.
"Work on the proposals is underway and could see the campus run as an 11-16 secondary school, a sixth form and vocational college, and leisure centre with the inclusion of a range of other council and third sector services, " he added.
Financial services sector activity expanded but there was a decline in travel, tourism and leisure for the third month.
The retail sector saw the biggest gains, with 50, 000 jobs added, while the leisure and hospitality, business services and healthcare sectors also saw strong gains.
Jamie Groves, head of leisure for Denbighshire council, said the real benefit of the proposed revamp was to show the private sector that Rhyl remained a seaside town with a future.
The university sector has rejected previous criticisms of such specialised vocational courses, arguing that areas such as tourism and leisure are major employers and significant aspects of the national economy.
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