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This week in Opportunities:

   World Travel & Tourism Rocks for 2004!
   Low-Cost Carriers Follow Expansion Path
   Business travelers are back on the road...
   Resorts Set To Thrive in 2004
   New Opportunities!
   Executive Movers! See who's going where?
   Travel Executive Employment Report

TOP NEWS & TRENDS!

World Travel & Tourism Rocks for 2004!

Last week we reported on a new World Travel & Tourism (WTTC) survey showing U.S. travel and tourism growth in 2004. So what are the prospects for travel and tourism worldwide this year and beyond? The WTTC, which includes CEOs from the industry's top companies, just released an upbeat forecast that predicts good times ahead for travel and tourism throughout the world. Travel and tourism is expected to generate $ 1,542.1 billion in gross domestic product (GDP), representing 3.8 percent of worldwide GDP and 73,692,500 jobs. Meanwhile, the broader travel and tourism economy, composed of direct and related industries, is predicted to generate $4,217.7 billion in GDP, for a total 10.4 percent of global GDP and 214,697,000 jobs. Travel and tourism demand is expected to total 5.9 percent real growth in 2004, and 4.5 percent real growth per annum between 2004 and 2014. Perhaps not surprisingly, the U.S., Japan and Germany are the top four countries expected to spend the largest amount (in absolute terms) on both personal travel and tourism and business travel in 2004. For the complete report, you can visit www.wttc.org.

Low-Cost Carriers Follow Expansion Path

If you've been listening to top airline analysts, the prospects for major airlines continue to be fairly grim, meaning there probably won't be much job growth in the airline business in 2004. Nevertheless, there is one airline category that is still booming--low-cost carriers (or LCCs). At a recent seminar held by the Association of Travel Marketing Executives in New York, top airline analysts Bob Mann and Ray Neidl both took note of the far greater level of LCC activity, compared with the so-called "legacy" airlines-American, Continental, Delta, Northwest and United. LCCs are expanding rapidly in destinations served and aircraft ordered. Such airlines as JetBlue, AirTran, Frontier and Spirit are making major runs at the domestic marketshare of much larger carriers. Last week, for example, JetBlue requested authority from the U.S. Department of Transportation to provide international nonstop service to the Dominican Republic, and expanded its service to Puerto Rico. Meanwhile, America West, an airline that is ordinarily considered to be a major carrier, but one that is competing more and more in the low-cost realm, unveiled a slew of new trans-continental flights, plus a major boost to its Las Vegas services. Spirit Airlines recently unveiled new financing that will help solidify its position and expand into new markets. Meanwhile, two new LCC entrants, Independence Air and Richard Branson's planned U.S. airline, are waiting in the wings (see below).

Hotels Should See Business Return in 2004

Business travelers are back on the road again and that means a recovery for most major hotel industry segments, according to the latest survey by PricewaterhouseCoopers (PWC). According to PWC, demand is expected to increase 4.5 percent this year, while supply should rise 1.4 percent. Occupancy is forecast to increase 0.9 percentage points to 61.2 percent while revenue per available room (RevPAR) is expected to increase 5.3 percent. Three of the five main lodging segments are expected to experience dramatic growth, including Upper Upscale, Upscale and Midscale without Food & Beverage. Upper Upscale demand is expected to see a 5.4 percent increase this year, Upscale demand should rise by 7.9 percent, and Midscale without F&B should increase 7.5 percent. Average daily rates (ADR) are forecast to be up 1.9 percent (from $137.61 to $140.15) in Upper Upscale hotels, up 2.1 percent ($91.24 to $93.11) in Upscale, and up 1.9 percent ($68.48 to $69.77) for Midscale without F&B. Only Economy and Midscale with F&B hotels will most likely not to see as much improvement. Demand and ADR will increase 2.6 percent and 1.1 percent in the Economy sector and 0.7 percent and 0.6 percent, respectively, in the Midscale with F&B in 2004. All of which means there could be substantial prospects for an improved employment picture in the hotel industry.

Resorts Survived 2003-Set To Thrive in 2004

Even in an off year for travel, hotels located in resort destinations around the world reported better than expected results during 2003, according to the HotelBenchmark survey by Deloitte. That means the number of jobs in the resort category was fairly stable and even grew as new properties were introduced around the world. Although a number of resorts suffered a decline in occupancy levels, average room rates still managed some impressive growth, with resorts in the Caribbean, Middle East and Oceania reporting an increase in revenue per available room (revPAR). The HotelBenchmark survey compared the performance of 25 global resort destinations. But the best news is that the 2003 results bode well for a major increase in resort business in 2004, according to the survey. That could mean more top jobs will open up as leisure travel recovers.

NEW OPPORTUNITIES!

Two Fledgling Airlines Looks To Staff Up

Two new low-coast airlines are getting ready to launch new service-and both appear to be staffing up. Atlantic Coast Airlines, a regional carrier now renamed Independence Air, is scheduled to debut later in the first half of 2004 out of Washington Dulles airport. The new carrier plans to offer more than 300 flights daily out of Dulles to 50 destinations. Meanwhile, Richard Branson's planned U.S. LCC, which will most likely use Virgin as part of its name, just hired Fred Reid, Delta Air Lines' president and CEO, to oversee all its operations (see below). The fledgling carrier, scheduled to debut early next year, is still weighing where to base its operations, with Boston, San Francisco and Washington Dulles being the leading candidates. So if you're looking for an airline job, your best bet is probably to follow the wave of growth coming from the LCCs.

Ski Resort Business Seems Set for Growth

Interested in a career in the ski resort industry? The ski business has seen its ups and downs over the past few years, but the 2003-2004 season has been particularly strong, and may put several companies back on the expansion track. Vail Resorts, for example, just announced record second quarter resort revenue, up 7 percent over the same period a year ago. Meanwhile, because of a successful savings plan, Vail Resorts' expenses rose just 2.3 percent in the quarter over last year. The number of skier visitors increased across the board in the second quarter, rising 22 percent at Vail's Heavenly Resort and 11 percent at Beaver Creek, both of which are on track for record visitation. Vail and Breckenridge resorts also performed well during the quarter, while Keystone is set for significant expansion.

Casino Resorts Continue on a Hot Streak

The sun never seems to set on the gaming industry, especially for the major casino-resort companies. So it's a fair bet that there are going to be some major travel employment opportunities in Las Vegas and elsewhere as these companies expand and continue to raise their earnings projections for 2004. Last week Caesars Entertainment, Inc. boosted its earnings guidance for the first quarter of 2004. It now expects that adjusted earnings per fully diluted share (EPS) for the first quarter, which ends March 31, will be within a range of $0.17 to $0.19, compared with the $0.11 to $0.13 per fully diluted share it predicted earlier. The company attributed the increase to better-than-expected results in all three of its domestic regions. It also reported higher than expected room revenue in Las Vegas, due mainly to higher room rates, higher than expected table winnings in all three regions, due to higher volumes and meaningfully higher hold percentages. Caesars operates casino resorts under the Caesars, Bally's, Flamingo, Grand Casinos, Hilton and Paris brand names.

EXECUTIVE MOVERS!

AIRLINES: Virgin USA has hired Frederick Reid to lead its Virgin-branded U.S. domestic low-fare airline, scheduled to launch in the first quarter 2005. Reid will oversee all operational and executive facets of the airline, including its upcoming certification process. Reid was Delta Air Lines' president and COO. Prior to his tenure at Delta, he served as president and COO of Lufthansa German Airlines, and has held management posts at Pan American and American. Delta said Chairman and CEO Gerald Grinstein will assume Reid's responsibilities on an interim basis, but it appears the airline will be looking for a new president and COO. The planned Virgin U.S. carrier is still weighing several headquarters city airports, including Boston, San Francisco and Washington DullesÖwww.wttc.org has named Cliff Van Leuven as vice president-customer service. Van Leuven will oversee Frontier's hub and field stations. He previously worked for Northwest Airlines and Midwest AirlinesÖLooks like Swiss International Air Lines, the carrier that emerged after the dissolution of Swissair, will be looking for a new CEO after Andre Dose resigned. Current Chairman Pieter Bouw, who headed up KLM from 1991 to 1997, will take over as CEO on an interim basis, but the carrier will probably be on the hunt for another top executive. Dose had been under fire and could face legal action in connection with a potential cover-up of a fatal 2001 crash of an aircraft belong to Switzerland's Crossair.

CRUISE LINES: Royal Caribbean Cruises Ltd. promoted Daniel Mathews to director of investor relations. Mathewes, who joined the company as manager of investor relations in January 2003, will continue to oversee the company's communications with investors and the financial community. Prior to joining Royal Caribbean, Mathewes was a senior associate with PricewaterhouseCoopers.

HOTELS & RESORTS: Orlando-based Hard Rock Cafe International named Hamish Dodds, a former executive with PepsiCo Beverage International and Cabcorp, a Central American Pepsi bottler, as CEO, overseeing the theme-restaurant and entertainment chain It took Rank nearly 14 months to find a new chief executive, after Peter Beaudrault, who had assumed Hard Rock's CEO duties in 2001, was removed in January 2003. Hard Rock is continuing with plans to build and extend its brand, securing license agreements with several hotels, casinos and live-concert venuesÖMark Fioravanti has been tapped by Gaylord Entertainment to become president of ResortQuest International, its vacation rental property management business, Fioravanti, who had been serving as Gaylord Entertainment's senior vice president of marketing, replaces former ResortQuest President Jim Olin, who left last year. Gaylord purchased ResortQuest in 2003, entering an industry segment that has been expanding rapidly in the past few years. Fioravanti will report to Colin Reed, Gaylord's president and chief executive officerÖMaruiel Perkins-Chavis has been named vice president of diversity and workforce effectiveness for Marriott International. She previously held several human resources positions at Marriott, most recently serving as senior director-leadership talent management and diversity. Perkins-Chavis will continue to report to Steve Bauman, who leads the Talent Management & Workforce Effectiveness department in Human Resources and will also report to David Rodriguez, executive vice president-lodging human resources on diversityÖInterContinental Hotels Group (IHG) has filled several key corporate hotel brand positions as a result of the growth and momentum of its six brands. Shelley Rapier has been promoted to vice president-operations at Staybridge Suites; Gina LaBarre returns to IHG as vice president-brand management for Candlewood Suites; and Wayne Hamilton has been promoted to director-brand marketing for Holiday Inn Hotels & Resorts.

CORPORATE TRAVEL: Theresa Ragozine, worldwide director-strategic sourcing for Johnson & Johnson in New Brunswick, has been given additional responsibility for worldwide travel services. Ragozine will continue to oversee Johnson & Johnson's fleet of 25,000 vehicles. Ragozine's new responsibilities include controlling Johnson & Johnson's travel and entertainment expenses worldwide.

TRAVEL AGENCIES: Corporate travel agency consortium Radius has hired Oliver Beloch from Centrica as its vice president-corporate sales in Europe, the Middle East and Africa, working out of Radius' new global sales office in London. Radius also named Natasha Brawn as vice president of multinational corporate sales for Asia Pacific, based in Sydney. Radius reportedly has been beefing up its global sales team. Beloch and Brawn join Gregg Cothern, Radius' vice president of multinational corporate sales, and Keith Haynes, senior vice president of the business development group.

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