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This week in Opportunities:

Canadian Economic Growth Helps Offset Decline of U.S. Travel
Opportunities Watch!
Opportunities Networking!
Executive Movers! See who's going where?
Travel Executive Employment Report

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OPPORTUNITIES NEWS & TRENDS

Canadian Economic Growth Helps Offset Decline of U.S. Travel

Now that the exchange rate between the Canadian and the US dollar is more favorable to Canadians, there are fewer American tourists taking their vacation in hot spot Canadian tourism cities like Montreal, Quebec City, Toronto and Vancouver. Another effect is that the stronger dollar has resulted in more Canadians taking their vacation, along with their disposable income, across the border into the US. The hotel industry has been one of the strongest hit with a 5% decrease in room occupancy this year compared to the year prior, according to the Montreal Gazette. As a result, hotels attempted to bring in financially weary tourists by lowering room rates per night or creating special travel packages such as spend two nights at the regular price and receive 50% off the third night’s stay. This type of strategy has been especially relevant for boutique hotels that have started popping up in and around Canadian cities. Big cities like Montreal are able to bear the brunt of the effects of a stronger dollar with world-renowned festivals each summer, such as the Grand Prix, jazz, comedy and film festivals.

The strong performance of the Canadian domestic market, along with that of several regions such as Europe and Asia, has offset the decline in tourism from visitors coming from the US. The federal and provincial governments, along with regional travel agencies have taken advantage of these strong economic trends by increasing domestic marketing campaigns. There is more focus towards Canadians traveling within their own borders rather then making a trip south of the border, for example. Travel is a discretionary expense usually based on annual leisure expenditure, so the more disposable income consumers have, the more likely they are to take more trips and travel further distances. The economic situation in Canada has been able to offset the negative impact of higher energy costs on consumer spending. More Canadians have also been traveling abroad with greater spending power as the continued growth of the Canadian dollar has allowed people to get more for their money. The ongoing change in interest and exchange rates has an impact on demand for industry products, and as consumer spending power changes this in turn has significant financial consequences for the airline industry. This results in companies within the travel industry making appropriate changes to their pricing structures and promotional offers.

The price increases in barrels of oil and gasoline at the pump in 2006 left a very immediate and strong impact on the travel and tourism industry in Canada and abroad. Even with a decline in prices in the last quarter of 2006 there was still no sign that the prices would stabilize anytime soon. The high fuel prices affected the auto travel sector for both domestic and cross-border tourism from the US. The elevated costs kept cars off the road, but to a larger extent it meant that people took trips of less distance. The number of American visitors into Canada has declined sharply and the summer months, which are usually the busiest for tourism, saw fewer American tourists in July than anytime in the past 4 years as fewer and fewer Americans made one-day trips by car across the border, according to Statistics Canada. On the other hand the Hotel Association of Canada estimates that only 4% of Canadians will curtail their travel arrangements because of high petrol prices. The Travel Industry Association of Canada states that the number of one-day car trips into Canada between the months of January to June of this year has declined by five million over the last five years. There are several reasons for this decline, for instance the stronger Canadian dollar, confusion over what documentation to bring, perceptions that there are long waits at border crossings, Canadians’ position on the war in Iraq and even the issue of SARS lingers. Yet the cost of fuel has been one of the most important factors over the past year. Some hotels and inns are attempting to combat the high fuel prices and the impact it has had by offering gift certificates for gasoline during a certain time frame when business is usually at a low level, for example the Finest Inns Association of Ontario in cooperation with Petro-Canada. Yet distance still plays an important factor even with such measures, since regional tourism in such a large country is also suffering. If people from Ontario are not traveling to Quebec or the Maritimes, for example, because of high petrol prices, then people from the latter regions are not traveling to Ontario for the same reasons.

According to Statistics Canada the number of European and Asian tourists into Canada this past year has increased, an extremely positive trend, even though the number of Americans coming into Canada declined sharply and left a greater impact. In essence, only 8% of the world’s population took part in international travel this past year so this definitely allows more potential for the travel industry to keep growing in Canada. Canadian government and travel agencies, along with national airlines, have begun more aggressive marketing campaigns focused towards the international traveller and the benefits and features of making a trip to Canada. There are still several issues and concerns that the impact of globalization has on the Canadian tourism and travel industries, both positive and negative. On the positive side, there is an immense international market reachable through a number of various communication outlets and this opens up the Canadian tourism and travel to a much larger pool of potential consumers. On the negative side, globalization develops a much fiercer competition between international airline companies, especially those that are national carriers of developing nations such as Mexico and India.

For a complete report on Travel and Tourism in Canada, visit: www.researchandmarkets.com/reports/c83229.

OPPORTUNITIES WATCH!

Viejas Selects Designer for $800 Million Casino & Resort

Viejas Enterprises has announced the selection of Marnell Corrao Associates (“Marnell”), designers, developers, and builders of some of the world’s premier destination resorts, including Bellagio and Wynn Resort in Las Vegas, to design one of the largest resort projects in California – the $800 million Viejas Hotel & Casino Resort near San Diego. The resort plan, unveiled by The Viejas Band of Kumeyaay Indians in August, may include a second casino; 600-room hotel with spa, retail outlets and restaurants; convention and meeting space; multi-screen theater; resort cabana and pool area; and a new parking structure. The new resort will be located on the Viejas Reservation adjacent to the Tribe’s current casino east of San Diego. With more than 30 years of experience, Marnell has a project portfolio valued in excess of $9 billion, including leading casinos and resorts in Las Vegas, Atlantic City, Albuquerque, New Orleans and other locations around the world. The firm’s signature projects include Rio, Mirage, Bellagio, Wynn Resort, and the exclusive Mansions at MGM in Las Vegas; Borgata Hotel Casino in Atlantic City, Harrah’s in New Orleans, and the Hotel & Conference Center Expansion to the Sandia Resort & Casino in Albuquerque, New Mexico.

OPPORTUNITIES NETWORKING!

Asia Tourism Property and Attractions Summit 2008

Global Leaders Institute have announced that they will be holding an international summit in Shanghai on Asia tourism property and attractions. China, driven by her rich tourist resources as well as extensive and profound culture, has become the most exciting and lucrative market for global tourism players. The World Tourism Organization forecasts that, by the year of 2015, China will generate total revenue of over 160 billion dollars from the tourism industry, and become the No. 1 global tourism destination. However, China is still a relatively new terrain for most players. The Asia Tourism Property and Attraction 2008 is an opportunity for industry leaders who have been operating or planning for the business in the China market place to learn critical information and develop business relations. This summit will address the hot topics covering China's macroeconomic control policies and regulations, the opportunities and risk analysis of investing in the tourism property and attractions sector of this market, best operational strategies of themed attractions as well as the informative case studies from world-leading leisure and entertainment groups around the world, such as Yuan Degang, Chairman of Huangguoshu Tourism Group; Dr. Wadad Al Suwayeh, Chief Operating Officer of OQYANA Limited; Li Ming, Vice President of Shenzhen Huaqiang Group & President of FantaWild Holdings INC; You Guoqian, Vice Chairman of Taiwan Jianfusun Fancyworld; Steven Hicks, Senior Vice President of Venetian Macau Limited; Ro-Bin Park, CEO & President of Samsung Everland; Mario Mamon, President and Chairman of Enchanted Kingdom; Yves Pepin, President & Creative Director of ECA2; Ji Xusheng, Vice President & Chief Stylist of Zhongkun Investment Group; Wu Hsioh Kwang, Executive Chairman of Straco Corporation. They will showcase all the most important ingredients of how to build a must-see attraction and resort and keep the tourists staying longer. This international summit is supported by Shanghai Tourism Trade Association and organized by Global Leaders Institute. This event will be held annually in Shanghai. For more details or need to attend this summit, please visit the conference website: www.tourism-attraction.com.

OPPORTUNITIES EXECUTIVE MOVERS!

AIRLINES: Continental Airlines has announced the appointment of Diedra Fontaine to the position of director of diversity and sales development. In this role, Fontaine will manage Continental's important diversity initiatives and will enhance sales in key, niche markets. Fontaine previously served as the director of sales for the South Central region, managing the corporate and travel agency sales efforts in several states. Since beginning her career with Continental in 1990 as an auditor, Fontaine has held numerous leadership positions and increased Continental's profile in diverse communities. An active member of the community, Fontaine serves on several boards including The Ronald McDonald House and The Ensemble Theatre. In recognition of her achievements, Fontaine was named a Women of Distinction by the Crohn's & Colitis Foundation and a Legacy Hero Alumnae from Texas Southern University. Fontaine is a recipient of the Founders Award from the Thurgood Marshall College Fund. Fontaine earned a Bachelor of Science in Business Computer Information Systems from the University of North Texas and a Master of Business Administration from Texas Southern University.

HOTELS & RESORTS: Riviera Holdings Corporation has announced the appointment of Nicholas J. Polcino, Jr. to the position of General Manager of Riviera Black Hawk, pending approval by the Colorado Division of Gaming. Polcino's career in the gaming industry has spanned almost 30 years, beginning as a dealer in Atlantic City in 1979, to holding most of the major managerial positions on the casino floor. He served less than a year as Executive Director of Operations for Resorts Hotel and Casino in Tunica, Mississippi before being promoted to Assistant General Manager of the property in 2005... Wynn Resorts, Limited is pleased to announce that John Strzemp, Executive Vice President and Chief Financial Officer, has been promoted to Executive Vice President and Chief Administrative Officer. Strzemp will be responsible for the global administrative functions of the company as well as leading the opening of new resorts around the world. Strzemp has over 25 years of experience in gaming including his experience as Chief Financial Officer of Treasure Island, President of Treasure Island, Chief Financial Officer of Bellagio and most recently Chief Financial Officer of Wynn Resorts, Limited. With Strzemp’s assistance, Wynn Resorts will continue to execute its growth strategy around the world. The Company also announced that Matt Maddox, Senior Vice President of Development and Treasurer, has been promoted to Chief Financial Officer and Treasurer of Wynn Resorts. Maddox began his career at Bank of America in the mergers and acquisitions department before joining Caesars Entertainment. Maddox served as the Vice President of Finance at Caesars in 2001 when he left to join Wynn Resorts as the Vice President of Investor Relations and Treasurer. After the completion of Wynn Resorts’ initial financing in late 2002, Maddox moved to Macau as the Chief Financial Officer for Wynn Macau. There he was instrumental in the start up and financing efforts for Wynn Resorts in Macau. Maddox worked in Macau through 2005, when he relocated to Las Vegas as the Company’s Senior Vice President Development and Treasurer... Crestline Hotels & Resorts, Inc. has announced the appointment of David S. Hume as Director of Sales & Marketing for the Rocky Gap Lodge & Golf Resort near Cumberland, MD. Hume has an extensive hospitality industry background that spans more than 17 years. He joins Crestline from the Atheneum Suite Hotel in Detroit where he was Director of Sales & Marketing. Prior to that position he held sales and marketing leadership positions for the Radisson Plaza Hotel & Suites in Kalamazoo, MI; The Peabody Hotel in Little Rock, AR; and the Hotel Roanoke, VA. Hume holds a Bachelor of Business Administration degree from the University of Colorado at Colorado Springs... Las Vegas Sands Corp. has announced that Ed Feiner, FAIA has joined the organization as senior vice president and Chief Architect. In his new role, Feiner will oversee the planning, designing and development process for Las Vegas Sands Corp.'s major projects throughout the world. Feiner was most recently director of Skidmore, Owings & Merrill's Washington D.C. office where he was responsible for design, planning and infrastructure projects in the National Capital area as well as consulting on projects around the world. In 1996, prior to joining SOM, Feiner served as Chief Architect of the United States General Services Administration (GSA). As Chief Architect he provided national leadership for the design and construction activities of the agency, which included the development of Federal courthouses, office buildings, national laboratories, border stations, computer centers, and special-use projects. During his tenure at GSA, Feiner presided over the largest public works program in the U.S. since the mid-1930's with the total redevelopment of the facilities of the U.S. Judiciary. The Federal Courthouse Program when completed will include over 150 new Courthouses at a project cost of over $15 billion. Feiner is also a Fellow of the American Institute of Architects and was awarded the Thomas Jefferson Award for Public Architecture by the AIA in 1996. Feiner lectures at the Harvard Graduate School of Design and has spoken at many schools of Architecture and Design.

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