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This week in Opportunities:

Americans Set to Boost Travel This Spring
Forecast Calls for Higher Manhattan Hotel Occupancies
Four Seasons Hotels Reports Higher Profits for 2004
Opportunities Watch!
Opportunities Networking!
Executive Movers! See who's going where?
Travel Executive Employment Report

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OPPORTUNITIES NEWS & TRENDS!

Americans Set to Boost Travel This Spring

According to the Travel Industry Association of America's Spring 2005 Travel Forecast, Americans plan on taking nearly 281 million person-trips during March, April and May. This represents an increase of 1.2 percent over spring 2004. Recent increases in both hotel and airline travel support TIA's forecast for strong spring travel volume. "Americans are upbeat, a prelude to a busy spring travel season. Their travel intentions are healthy, they feel good about the economy, and they feel positive about their own finances. These key factors point to a record spring travel season," said Dr. Suzanne Cook, TIA Senior Vice President of Research. On the leisure front, Americans are expected to take nearly 223 million leisure person-trips in spring 2004, up 1 percent from last spring. While this growth is moderate, it's nearly 7 percent higher than spring 2003 and nearly 10 percent higher than spring of 2000. Business and convention travel volume continues to recover, increasing 2 percent in spring 2005. Americans plan on taking 47.1 million business/convention trips this spring, up from 46.1 million last spring. While this brings the volume in line with spring of 2000, it's still below the 48.1 million business/convention trips taken in spring of 2001.

Forecast Calls for Higher Manhattan Hotel Occupancies

New York hotels are often a good barometer of the entire hotel business-as well as the travel industry as a whole. So the latest forecast shows only good things lie ahead for the hotel business. According to the PricewaterhouseCoopers Hospitality & Leisure practice, strong local economic growth combined with an increase in business travel and international arrivals will lead to the continuation of robust revenue per available room (RevPAR) growth for Manhattan hotels in 2005 and 2006. In 2004, Manhattan hotel occupancy increased by 7.3 occupancy points to 83.2 percent and average daily room rate (ADR) increased by 10.8 percent to $223.64, leading to RevPAR growth of 22.0 percent, compared to prior-year levels, according to Smith Travel Research. In 2006, occupancy is expected to reach 85.1 percent, leading to ADR growth of 9.5 percent to $244.79. In 2000, average daily room rate peaked at $222.60 and occupancy reached 83.7 percent. Both leisure and business demand will continue to respond to strong national economic stimulus, as U.S. GDP is forecast to expand at 3.7 percent in 2005, above the trend growth rate of 3.5 percent, and New York City gross metro product is forecast to increase by 2.2 percent in 2005 and 2.1 percent in 2006. The recovery of suppressed business travel from the low levels in 2002 through early 2003 will continue. But Manhattan hotel supply is forecast to increase by only 0.8 percent in 2005 and 1.4 percent in 2006. The number of rooms in Manhattan hotel projects currently under construction totals 2.1 percent of existing Manhattan hotel room supply, according to Smith Travel Research/McGraw-Hill data. However, record prices for residential housing will lead to additional conversions of existing hotels to condominiums or cooperative apartments. PwC's forecast of 64,900 Manhattan hotel rooms at the end of 2005 is only 3.1 percent above the 62,900 rooms that existed in Manhattan at the end of 2000.

Four Seasons Hotels Reports Higher Profits for 2004

The outlook continues to brighten for luxury hotel companies. Four Seasons Hotels Inc. reported higher profits the fourth quarter of 2004 and for the year ended Dec. 31, 2004. "2004 marked an important year for Four Seasons," said Isadore Sharp, chairman and CEO. "We had a significant rebound in our profitability that came on the heels of almost three of the most difficult years in the history of the lodging industry. During 2004, we achieved near record levels of RevPAR growth and entered into more letters of intent relating to new management opportunities than we ever have in a single year. We believe that this demonstrates the strength of Four Seasons market position and strategy, as well as our potential for future growth. With the hotels and resorts we currently have under construction and the agreements signed this year, we are confident that we will have 100 properties under management within the next five to seven years." RevPAR of worldwide Core Hotels increased over 15 percent for the year ended Dec. 31, 2004, as compared to 2003; net earnings increased 517.2 percent for the year ended Dec. 31, 2004 to $33.2 million, as compared to $5.4 million in 2003; net earnings increased 33 percent for the quarter ended Dec. 31, 2004 to $15.6 million, as compared to $11.7 million for the same period in 2003.

OPPORTUNITIES WATCH!

Royal Caribbean Signs for Third Freedom-Class Ship

Major cruise lines show no sign of slowing their growth. Royal Caribbean Cruises Ltd. has signed a letter of intent with Aker Finnyards in Turku, Finland, to add a third ship to its Freedom class of vessels now being built for Royal Caribbean International. Like the series' first and second ships, this third Royal Caribbean newbuild is a 158,000-GRT vessel equipped with 1,800 cabins that accommodate 3,600 guests double occupancy. It is expected to enter service in early 2008, two years after the class debuts in April 2006, with Freedom of the Seas.

Pan Pacific to Open Whistler Hotel in June

Pan Pacific Hotels and Resorts, another company on the growth path, has teamed up with Intrawest Corporation to introduce a new luxury property to Whistler, British Columbia. Completion of the new Pan Pacific Whistler Village Centre is slated for June 15, 2005. Located in the heart of Whistler Village, only steps from the existing Pan Pacific Whistler Mountainside, this new 83-room boutique property is an enhancement to the inventory of 121 deluxe rooms and suites Pan Pacific already manages in Whistler.

G2 Switch Works Travel Tech Firm Secures Funding

A new breed of travel technology firm has emerged in the past few months. G2 SwitchWorks Corp., an alternative GDS company run by the brains formerly behind Orbitz, has secured venture capital co-led by Norwest Venture Partners and Texas Pacific Group's TPG Ventures. Texas Pacific Group investments in the travel industry include Continental Airlines, America West Airlines and Hotwire.com. G2 is currently booking passenger reservations from five major airlines -- American Airlines, Continental Airlines, Delta Air Lines, Northwest Airlines and US Airways. The company will soon be able to process reservations for six additional airlines including Alaska Airlines, America West Airlines, United Airlines and several airlines that do not distribute much of their fare content over GDS channels today. G2's launch customers include two of the top five U.S. travel agencies as well as several other leading travel agencies and technology providers. This new funding will fuel G2's continued growth, and enable the company to accelerate the expansion of its technology integration team and enhance its technology offerings and channels.

OPPORTUNITIES NETWORKING!

Meet Travel Technology Pros at CASMA Conference!

Want to network with some of the cutting edge travel technology executives in the business? CASMA (Computerized Airline Sales & Marketing Association) will explore the challenges of the new emerging business model in the Global Distribution Systems (GDS) space with two companies that claim they have a better plan that costs less. Join Jeremy Wertheimer, chief operating office, ITA Software; Michael Harbin, vice president, G2 SwitchWorks; Steve Jarvis, staff vice president, Alaska Airlines; and, Derek Lewitton, director, Distribution Strategy, United Airlines at 1 p.m. Monday, March 21 for the opening session of the Spring 2005 Conference at the Marriott Financial District, New York. The Town Hall format will enable conference attendees to ask questions of the panelists to help them separate fact from fiction and business marketing from business modeling. ITA Software and G2 SwitchWorks claim to be building systems to enable airlines to distribute their products through travel agencies at a fraction of the cost of a legacy GDS. For more information, visit www.casma.org.

Ensemble Travel Sets 2005 International Conference

If you can get in, it's one of the best networking conferences around. Ensemble Travel, the travel agency co-op, announced the dates for its 2005 Ensemble Travel International Conference as Oct. 19-23. The event will be held for the group's 1,300 members from both the U.S. and Canada at the Anaheim Marriott Hotel in Anaheim, Calif. The event also usually attracts a number of top supplier executives. Online registration for members and suppliers will begin in May through the member-only extranet at www.ensembledirect.com. For more information, call 800-442-6871.

Colin Powell to Speak at May TIA PowWow

The Travel Industry Association of America's Pow Wow, the top conference for the inbound travel market to the U.S., attracts top executives from nearly every travel industry segment. This year, there's another draw: former Secretary of State Colin Powell with address delegates during the closing luncheon of the trade show and conference, which takes place in New York City, May 3-7. For more information on Pow Wow, visit www.tia.org.

OPPORTUNITIES EXECUTIVE MOVERS!

AIRLINES: Flugleioir Icelandair Group has appointed Ragnhildur Geirsdottir, Icelandair's senior vice president, the group's new CEO, and Jon Karl Olafsson, the managing director of Air Iceland, as Icelandair's new CEO. Together they will work with Sigurour Helgason, the group's retiring CEO and formally begin on June 1. Hannes Smarason's role as executive chairman remains unchanged. Changes will also be made to the organizational structure of Flugleioir, the parent company. Flugleioir will play a greater role in forming a coherent strategy for all its subsidiaries, synchronizing actions and increasing service and support. These changes will be developed over the next few weeks and presented at the group's annual general meeting on March 10. Geirsdottir, 33, began working for Flugleioir in 1999 and in 2003 was appointed Icelandair's senior vice president resource management.

CRUISE LINES: Rafael Sanchez, a 20-year information technology veteran, has been named chief information officer (CIO) for Carnival Corporation & plc , the world's largest cruise company. In this capacity, Sanchez will work with Carnival's 12 operating companies to develop corporate-wide information technology (IT) strategies. Sanchez, who is based in Carnival's Miami headquarters, also heads the corporation's IT CIO Council, comprised of CIOs from its various operating companies. He is also responsible for corporate IT shared services applications and development in association with the brands' CEOs and CIOsÖCosta Cruises announced the retirement of David Christopher at the end of March 2005. Christopher who has held the position of senior vice president of passenger services for the company since 1993, managed all of Costa's North American Passenger Service activities, including Reservations, Groups, Air/Sea, Inventory Control, Special Services and Documentation. Lori McCloud will assume the responsibilities of senior vice president of passenger services for Costa effective April 1ÖWindstar Cruises named Gerald Moesslinger as manager marine hotel operations. The appointment was made by Holland America Line's vice president of marine hotel operations, Johan Groothuizen, and is effective immediately. In his new role, Moesslinger is responsible for ensuring the overall quality and passenger satisfaction aboard Windstar's three-ship fleet. Moesslinger oversees the hiring and training of key marine hotel staff as well as all aspects of guest experiences such as accommodations, shore excursions, Windstar's water sports programs, and food and beverage, including collaborating with acclaimed Chef Joachim Splichal, creator of Windstar's "Signature Cuisine."ÖIsland Cruises has appointed Captain Stuart Horne as operations director, a position created to strengthen the cruise line's organization and centralize operations following the recent acquisition of Horizon from Celebrity Cruises. Horizon, currently part of the Celebrity Cruises fleet, joins Island Cruises in November. Horne's responsibilities will encompass technical management, hotel operations (including shore excursions and concession management), revenue streams, port operations, total guest satisfaction and product delivery.

HOTELS & RESORTS: Marriott International named John F. Kennedy as director of global travel industry relations and sales strategy based in Bethesda, Md. Previously, Kennedy was the director of international reservations and revenue management for Ramada International. He has over 20 years of experience in the hospitality industry beginning his career as a front desk clerk at a Days Inn hotel in Orlando, Florida. During the course of his career he has held positions of increasing responsibility in sales and marketing as well as operations, including several general manager positions. He replaces Terry Lee, who passed away late last yearÖInterContinental Hotels Group (IHG) Latin America announced that Luis Fernando Estefan has been appointed director of development for the Andean Region (Bolivia, Colombia, Ecuador, Peru and Venezuela), Central America, as well as assisting IHG with its development plans in the Caribbean. Based out of Bogota, Colombia, and reporting to Alvaro Diago, area president of InterContinental Hotels Group Latin America, Estefan will be responsible for new development and conversions, franchises and management contracts for all IHG brands within the Andean region. Brazil-based Ronald Arteaga, director of development for the remainder of IHG Latin America's properties in the South Cone, will manage development for Brazil, as well as Argentina, Chile, Uruguay and Paraguay. IHG's brands in Latin America include InterContinental Hotels, Crowne Plaza Hotels, Holiday Inn, Holiday Inn Hotels & Suites, Holiday Inn Express, Holiday Inn SunSpree and Staybridge SuitesÖCrestline Hotels & Resorts named Richard Bair as general manager of the Sheraton Annapolis Hotel. Bair joins Crestline from Prime Hospitality Corporation where he last managed the Prime Hotel and Conference Center, Saratoga Springs, NY. He is a veteran hotelier with more than 30 years of operations and management experienceÖLodgian, Inc., one of the nation's largest independent owners and operators of full-service hotels, has named Daniel Owens as chief accounting officer. In his new position, Owens will be responsible for all of the company's financial accounting and reporting functions. Owens joins Lodgian from InterCept, Inc., a publicly held, $250 million banking technologies service organization in Norcross, Ga., which was recently acquired by Fidelity National FinancialÖLoews Coronado Bay Resort appointed Debi Besmer as director of marketing. Besmer brings more than 20 years of sales and marketing experience at some of the country's finest hotels and resorts. In her new role, Besmer will oversee all aspects of the resort's marketing efforts. She began her hospitality career in a catering position at the Hanalei Hotel in San Diego. Most recently, she served as director of sales and marketing at The Westin Horton Plaza in San DiegoÖ

T.W. Hughes, a 30-year veteran of the travel industry, has been named general manager for the new 9 Beaches Resort in Bermuda. The resort is the island's newest property and will open in May 2005. Hughes has worked in various management positions in 11 countries--from China to the Comoros Islands. He has led resorts in major hotel chains including Club Med and Westin Hotels & Resorts. Hughes also has executed seven resort openings, including Little Palm Island in the Florida Keys and Tering Bay Golf Club & Resort in IndonesiaÖBushmans Kloof Wilderness Reserve and Retreat in South Africa named Fred Stow and Josie Stow as the new couple to manage the boutique property. In addition, renowned hotelier Clive Bennett has assumed responsibility as managing director of Bushmans Kloof. He is also the general manager of the Twelve Apostles Hotel in Cape Town, an associated hotel to Bushmans KloofÖLe Meridien Hotels & Resorts has promoted Dean Gregory to vice president worldwide distribution from his previous position of distribution development director. Gregory joined Le Meridien in 2002 following a 14-year career in the airline industry, working at a senior level with Qantas and British Airways. Based at Le Meridien's U.K. reservations centre in Brentford, London, Gregory is responsible for four telephone reservations centres worldwide offering a global 24/7 service; all electronic channels including the GDS, third party websites and Le Meridien's www.lemeridien.com. In addition, he has responsibility for customer service and database management of Le Meridien's centralized property system program. London-based Le Meridien is a global hotel group with a portfolio of more than 130 luxury and upscale hotels in 56 countries worldwideÖ Julie Mash has been named marketing manager of the 517-room Hyatt Regency Huntington Beach Resort & Spa. Mash moves to Huntington Beach from Hyatt's corporate offices in Chicago. She has spent the last six years at the Hyatt Corporate Offices in various positions from pricing coordinator to manager of Gold Passport International Marketing Operations helping to implement individual hotel promotions as well as global offers developed for Hyatt's frequent guest programÖCrestline Hotels & Resorts, Inc. appointed Catherine Salerno as director of sales and marketing for the Hilton Parsippany (New Jersey). The hotel is a 510 guest room property with upscale service and amenities, as well as 30,000 square feet of meeting space. Salerno joins the Hilton Parsippany from the Headquarters Plaza Hotel in Morristown, N.J., where she was the director of sales and marketing for the past five years.

TOUR OPERATORS: RCG Companies Incorporated, a diversified travel and leisure company, said its chief financial officer, William Hodge, will leave the company to pursue other business opportunities. The company named Marc Bercoon, former CFO of J&C Nationwide, Inc., to assume the responsibilities of CFO. RCG Companies Incorporated derives a majority of its revenues from its travel business subsidiaries, FS SunTours, Inc., which delivers leisure- and vacation-travel packages under the SunTrips brand, and Farequest Holdings, Inc., which is a leading online and offline provider of a full range of travel services operating under the name 1-800-CHEAPSEATS (www.1800cheapseats.com).

TRAVEL AGENCIES: Steven Loucks has been named senior vice president of the travel and tourism practice at Daniel J. Edelman Public Relations in Chicago. Loucks was previously the senior director of public relations for Carlson Leisure Group in Minneapolis. Before that, he served as director of communications at ASTA in Alexandria, Va.

DESTINATIONS: The Travel Industry Association of America (TIA) named Mike Pusateri as senior vice president of strategy and development. In this new position, Pusateri will be responsible for leading corporate strategy and new business development, focused on growing programs, membership and revenues for TIA. Pusateri has been overseeing the sales efforts of small start-up companies for the past six years. He most recently held the position of executive vice president, sales and customer service at TIG Global, an interactive marketing agency in hospitality. In addition, he has nearly 20 years of travel industry experience with Avis, Holiday Inns, Embassy Suites, Hampton Inns, Harrah's Casinos and Marriott InternationalÖ Eugene Dilbeck, who spent 10 years leading the Denver Metro Convention & Visitors Bureau before being replaced in November 2003, has been named founding executive director of the new Center for Travel & Tourism at the University of Denver's Daniels College of Business. The center will be funded for the first two years by Denver businesswoman Joy Burns, chairwoman of the DU Board of Trustees. After that, the center is expected to become self-funded through endowments.

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