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This week in Opportunities:

Cruise Sector Still Showing Strength
Cendant Revamps Executive Teams of Business Units
Midsize Companies See Economic Growth Ahead
Wynn Resorts Sets More Resort Expansion
Jack Williams Resigns as Royal Caribbean President
TIA Traveler Sentiment Index Rises 2.5% in 4Q
Opportunities Watch!
Opportunities Networking!
Executive Movers! See who's going where?
Travel Executive Employment Report

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OPPORTUNITIES NEWS & TRENDS!

Cruise Sector Still Showing Strength

Cruising continues to be one of the best-performing sectors of the travel industry. According to the Cruise Lines International Association (CLIA), which has 19 cruise lines and 16,500 travel agencies, the tally for passengers choosing to sail last year surpassed by far all previous booking records. In all, a record 10.5 million people took a cruise in 2004, it was announced today at the 20th annual Seatrade Cruise Shipping Convention in Miami last week. CLIA predicts just over 11 million travelers will cruise in 2005. The numbers break down as follows: 8,870,901 North American passengers sailed on CLIA-member line ships in 2004, compared with 7,990,246 in 2003, which represents a year-to-year increase of 11 percent. In 2004, 1,589,936 international passengers sailed on CLIA lines, compared with 1,536,714 in 2003. "Bookings for 2005 are coming in at a fast and furious pace, far in advance of departure dates," says Terry Dale, president and CEO of CLIA, the cruise industry's chief marketing organization and North America's largest travel industry association based on agency membership. "Many of the positive trends we saw emerging in January are becoming firmly entrenched. The booking window continues to narrow, consumer demand continues to rise, and travelers are flocking to more far-flung destinations like Europe and Asia." Although there are more cruise departures and itineraries than ever before - 68 vessels will have debuted between 2000 and the end of 2005 - CLIA's member line ships are sailing at a 104 percent occupancy rate. Furthermore, CLIA-member lines report that the robust bookings generated during this year's Wave Season - the period from January to March during which cruise lines capture their largest share of annual bookings - is bringing record numbers of new passengers. For more information, visit www.cruising.org.

Cendant Revamps Executive Teams of Business Units

Cendant Corporation unveiled details of its previously disclosed strategic realignment and disposition of several non-core business units, which it said will result in the streamlining of its division management structure and changes in reporting relationships. In keeping with the company's strategic realignment, Cendant will operate within two vertical markets -- Travel and Real Estate. The Real Estate Services Division will continue under the leadership of Richard Smith, chairman and CEO of that division. The company's Travel segment will comprise two integrated groups -- Travel Content and Travel Distribution. Stephen Holmes, chairman and CEO of Cendant's Hospitality Services Division will be responsible for Travel Content, which includes the Hotel Group, Timeshare Resort Group, Vacation Exchange Group, Vacation Rental Group and Cendant Car Rental Group. Samuel Katz, chairman and CEO of the Travel Distribution Services Division will oversee Travel Distribution, which includes Agency Services, Consumer Travel, Corporate Travel Solutions and Supplier Services. As a result of the expected disposition of the company's Marketing Services Division in the third quarter of 2005, the company will disaggregate its Europe, Middle East and Africa (EMEA) headquarters in London, and the functions provided by this office will be subsumed by Cendant's U.S.-based Corporate Group and/or operating units based in the U.K. Accordingly, Kevin Sheehan, chairman and chief executive officer, Vehicle Services Division, and Scott Forbes, senior executive vice president of Cendant EMEA, will be leaving the company. Sheehan took the helm at Avis Group as president in 1999 following its initial public offering, and later served as Cendant's CFO after Avis was brought back into the Cendant fold in 2001. He then assumed responsibility for the company's Vehicle Services Division upon the acquisition of Budget in 2003. Forbes played an important leadership role in HFS' formative years and the creation of Cendant, culminating in his appointment as chief accounting Officer. He later agreed to lead Cendant's operations in EMEA at its nascent stage. In this capacity, he served as the senior corporate executive outside the U.S. and was responsible for the transformation of NCP and Green Flag into a $1.6 billion business. He was also responsible for forming Cendant's Vacation Rental Group in 2001. Cendant also announced that it expects to implement changes in the its segment reporting structure with respect to its Travel Content group for financial reporting purposes effective with its first quarter 2005 earnings release. Travel Content will contain three segments: Hospitality, Timeshare Resort and Vehicle Rental.

Midsize Companies See Economic Growth Ahead

Financial executives at America's mid-sized companies are much more optimistic about growth for the nation's economy than they were a year ago, according to a new poll commissioned by American Express, which could mean good things ahead for the job market, and for employment prospects at mid-sized travel companies. On the other hand, these CFOs haven't forgotten lessons learned during the economic downturn and still actively seek more effective ways to improve profitability by managing indirect expenditures, such as corporate travel and the purchasing of office supplies. "America's growing companies are anticipating bigger profits this year, but, at many of these firms, there's also increasing awareness that financial health is closely tied to managing expenses," said AnrÈ Williams, executive vice president, U.S. Commercial Card, American Express Global Corporate Services. The survey of 320 senior financial executives at middle market companies and the accompanying research were sponsored by American Express and conducted independently by CFO Research Services.

Wynn Resorts Sets More Resort Expansion

There seems to be no end to expansion in Las Vegas. Just weeks before unveiling the $2.7 billion Wynn Las Vegas, Steve Wynn reportedly already is planning a second full-scale, $1.4 billion mega-resort on the former Desert Inn property, according to a filing with the Securities and Exchange Commission last week. The project, dubbed Encore by company leaders, originally was envisioned as a $900 million, 1,500-room hotel tower expansion to Wynn Las Vegas. Plans now include more than 2,000 luxury suites and a "significant" increase in casino space from the original concept. Other amenities for Encore will include restaurants, convention and meeting space, retail offerings, a spa-salon and entertainment venues. Wynn reportedly said he is designing Encore to surpass Bellagio, now operated by MGM Mirage, but built by Wynn in 1998 as the most luxurious hotel on the Strip. He said each Encore suite will be 1,030 square feet with 230-square-foot bathrooms. Construction is expected to begin on Encore this summer, with completion planned in the first half of 2008.

Jack Williams Resigns as Royal Caribbean President

Jack Williams will step down as president and COO of Royal Caribbean Cruises Ltd. (RCCL) to spend more time championing cystic fibrosis and other charitable causes. Williams has been president of the company since 1997. Last month, two of RCCL's most senior and experienced executives, Dan Hanrahan and Adam Goldstein, were named president of Celebrity Cruises and Royal Caribbean International, respectively. Williams leaves the company to fulfill a career-long commitment to support the Cystic Fibrosis Foundation, Andre Agassi Foundation and a number of other charitable causes. He also will remain executive director of RCCL's "Shine On" fundraisers, a program he founded two years ago. Williams has served as president and COO of Royal Caribbean Cruises Ltd. since 2001, managing both cruise brands. He joined the company in 1997 as president of Royal Caribbean International. He has agreed to help with the transition, which is expected to be completed by June 30.

TIA Traveler Sentiment Index Rises 2.5% in 4Q

Things are picking up for the travel industry - but only moderately according to the Travel Industry Association of America (TIA). The TIA's quarterly Traveler Sentiment Index showed a moderate increase in first quarter 2005, up 2.5 percent to 98.7 from fourth quarter 2004. The rise is due to more optimistic consumer perceptions in four of the five components of the overall index, most notably perceptions about the ability to take pleasure trips based on personal finances and available free time. Consumers also felt more positive about the affordability of pleasure travel compared to last quarter. Traveler perceptions of service received while traveling were also up slightly over fourth quarter 2004. TIA's Traveler Sentiment Index survey was conducted January 20 to January 30, 2005. "Consumers are telling us they have more time and money to take pleasure trips, which bodes well as we near the busy summer season," said Dr. Suzanne Cook, Senior Vice President of Research for the Travel Industry Association of America. "Rising demand has caused a corresponding increase in travel prices but the good news is that travelers are still relatively positive about the cost of travel products and services."

OPPORTUNITIES WATCH!

Starwood to Develop a New St. Regis Bal Harbour

Starwood Hotels & Resorts Worldwide, Inc. and The Related Group of Florida have signed a letter of intent to form a joint venture to develop a new build St. Regis Resort & Residences in South Florida's exclusive Bal Harbour. The St. Regis Resort & Residences, Bal Harbour, to be built on the existing site of the Sheraton Bal Harbour, will be located on Atlantic Ocean directly across the street from the Bal Harbour Shops. The renowned Lucien Lagrange Architects has been selected for the project. The proposed transaction is subject to the negotiation and execution of definitive agreements and other approvals and customary closing conditions. The Sheraton Bal Harbour will plan promotional activities throughout the year prior to its anticipated closing in June 2006 to celebrate the hotel's 50 year fabled history.

New Tour Operator TrueGreece Makes Debut

San Francisco-based TrueGreece, a new and different kind of Greek islands travel company for travel agents and their clients, has opened. Offering what it calls unique opportunities for travelers to discover the unspoiled treasures of the Greek islands, the company provides a portfolio of escorted small group trips and private tours that feature authenticity, intimacy and personalized luxury. Scheduled to begin in Athens from May 2 through October 3, the TrueGreece trips offer three 10-day/nine-night itineraries designed to showcase different experiences within the Greek islands, plus a three-day/two-night add-on visit of Athens itself. TrueGreece founder and CEO Christos Stergiou was raised in Athens, Greece, and the island of Patmos, where his parents are hoteliers and well connected in the hospitality industry. For more information, call 800-817-7098 or visit www.truegreece.com.

Marriott Opens First Texas Resort in Horseshoe Bay

Marriott's first resort hotel in Texas, Horseshoe Bay Resort Marriott Hotel, has opened in the Texas Hill Country, a region known for its beautiful countryside, small wineries, limestone bluffs and sparkling lakes. Situated in the 6,500-acre Horseshoe Bay Resort on picturesque Lake LBJ, the new 349-room resort hotel offers access to the private resort community. Business and leisure guests of the new hotel are offered access to the resort's golf, tennis and spa services and more. Horseshoe Bay Resort Marriott Hotel, which softly opened in October 2004, will celebrate its grand opening in May 2005. For more information about the Horseshoe Bay Resort Marriott Hotel, visit www.horseshoebaymarriott.com.

OPPORTUNITIES NETWORKING!

Connect at TravelCom 2005

This April, Travel Commerce Conference and Expo will be bigger and better than ever before, with more exhibitors, an exciting new venue, and a comprehensive executive level conference program that has been created for the industry, by the industry! Opportunities subscribers also can save 20% on TravelCom 2005! - Simply use the following discount code when registering at TravelComExpo.com: GTC2L. TravelCom runs April 27-29, 2005 at the Marriott Marquis in New York, NY.

Meet Travel Internet Strategy Pros at HSMAI Session

The Hospitality Sales & Marketing Association International (HSMAI) is holds its fourth Internet Marketing Strategy Conference in New York on Friday, April 29, 2005, marking the first time the program will combine HSMAI's Hotel Internet Marketing and Cruise Internet Marketing special interest groups. Held in conjunction with TravelCom, the Travel Internet Marketing Strategy Conference will take place at the Marriott Marquis in New York. Designed to bring leading industry experts together to discuss the hottest issues and trends in Internet marketing, the conference will focus on measuring the success of Internet marketing through metrics, which will unite leading brand and merchant model experts from the hotel, cruise and airline industries as they present stimulating ideas and facilitate interactive discussion. The event will feature a keynote panel, networking breaks and a supplier showcase, and several panels of top industry executives. The cost of attending the Travel Internet Strategy Conference is $250 if purchased prior to April 1; $295 from April 2 to 25 and $345 after April 25. A TravelCom conference pass packaged with the HSMAI Strategy Conference is $1,295, $1,595 and $1,795, respectively. In addition, the HSMAI Dine-Around-A Taste of Broadway - is priced at $95. HSMAI members save 20 percent off the rates; use source code GTC2J when registering. TravelCom, April 27-29, 2005 at the Marriott Marquis in New York City, will cover critical issues in travel marketing and distribution relevant to online and offline firms alike. You can network with more than 1,400 travel industry leaders, hear keynoters from Starwood Hotels and Resorts, Expedia, Cendant and Forrester Research, and participate in highly interactive sessions. For more information on HSMAI, or to participate in upcoming Travel Internet Marketing Strategy Conference, call 703-610-9024 or visit www.hotelinternetmarketing.org.

Network with Tech Pros at OpenTravel Alliance Forum

Want to network with top travel technology pros? The OpenTravel Alliance (OTA) announced today that conference registration has opened for the 2005 Advisory Forum which is being held at the InterContinental Hotel in Dallas on May 3-4. The theme for the 2005 Advisory Forum is The Blueprint for Innovation and Implementation. "As the OTA concludes its five year anniversary, we will focus on two key areas. First, how the OTA is empowering and setting the path for travel companies to deliver new and innovative features, which will benefit the end- consumer immediately as well as delivering the roadmap and specifications to enable new and emerging opportunities within travel. Second, we will focus on how the specification is being implemented, including case studies, both within the individual travel verticals as well as some of the newer, cross- sector integrations currently under way. We are pleased to once again offer various perspectives from the leading travel technology companies and thought leaders," said Mike Kistner, OTA chair and senior vice president of Pegasus Solutions. Registration for the conference is $350 for OTA members and $450for non-members. The fee provides access to conference sessions and special events. The 2005 OTA Advisory Forum Web site contains more information on sponsorships, sessions, speakers and additional conference information. This year's OTA Advisory Forum will be held in conjunction with PhoCusWright's TRAVDEX conference -- also being held at the Intercontinental Hotel in Dallas on the same dates. The Open Travel(TM) Alliance develops communications specifications to allow for the efficient and effective exchange of travel industry information via the Internet. With over 120 members representing influential names in all sectors of the travel industry, OTA is comprised of representatives from the airlines, car rental firms, hotels, leisure suppliers, service providers, tour operators, travel agencies, and trade associations. Conference Registration (deadline is April 29, 2005) is available online at www.advisoryforum.com.

OPPORTUNITIES EXECUTIVE MOVERS!

AIRLINES: Big Sky Transportation Co., parent of Big Sky Airlines appointed Fred deLeeuw as its new president. With more than 30 years of airline experience, deLeeuw has been a financial consultant to Big Sky Airlines for the last year.

CRUISE LINES: Oceania Cruises named Michael Hirsch as vice president of sales administration. In his new role, Hirsch oversees all sales planning activities and day-to-day sales administration functions relating to the agency services team and will support the company's 10 regional sales directors who report to Jeff Drew, senior vice president of sales. A veteran of the cruise industry with over 30 years experience, Hirsch joins Oceania Cruises from Cunard Line and Seabourn Cruise Line, where his positions included director of sales planning and administration and regional vice president of sales.

HOTELS & RESORTS: PKF Consulting announced that Peter Tyson has joined the firm's Philadelphia office as a vice president. Tyson will provide a full range of hospitality consulting services to PKF clients, including economic feasibility studies, acquisition disposition analyses, economic valuation analyses, operational analyses, license application assistance and analyses, litigation support analyses and testimony, property tax appeals, impact analyses and strategic plans. His expertise extends into virtually all segments of the hospitality industry including hotels, casinos, resorts, stadiums, and other hospitality/leisure industry venturesÖ ResortQuest, one of North America's leading marketers and managers of vacation rental properties and brokerage services, has named Ray Lewis as senior vice president of marketing and distribution. Lewis assumed this position on March 14 for ResortQuest's network of 20,000 vacation condominiums, homes and villas. In his new position, Lewis will be responsible for advancing the development of the company's brand through advertising, database analytics, e-commerce, internet marketing, national accounts, homeowner communications and sales managementÖGreat Wolf Resorts, Inc., the nation's largest owner, operator and developer of drive-to family resorts featuring indoor waterparks and other family-oriented entertainment activities, said Kimberly Schaefer has been promoted to chief operating officer of the company. She previously was the company's chief brand officer. In her new role, Schaefer will oversee all aspects of the company's resort operations, including brand development and marketing. She will report to John Emery, chief executive officer. In addition, the company announced that Craig Stark, president, and Eric Lund, executive vice president of sales and marketing, have resigned, effective March 31, 2005, to pursue other interestsÖHEI Hospitality, a rapidly growing hotel ownership and operating company, has named Ernie Freedman as senior vice president and chief financial officer. In the new position, he will oversee finance and accounting functions and play an active role in hotel investor relations for HEI and its HEI Hospitality Fund. Freedman also will play a major role in the financing of appropriate levels of equity and debt for the fund's acquisition program and will be admitted as a partner in all existing and future HEI investmentsÖInterstate Hotels & Resorts, the nation's largest independent hotel management company, has named Paul Burke, president, hotel operations. In addition, the company announced the organizational realignment of several key operations positions. Tom Bardenett was promoted to executive vice president of Crossroads, Interstate's select-service division, which operates such brands as Residence Inn by Marriott, Courtyard by Marriott, Homewood Suites by Hilton, Hilton Garden Inn, and Hampton Inn. Ted Knighton, has been named executive vice president of the company's investment fund/joint venture portfolio. Prior to joining Interstate, Burke was vice president of operations for Starwood Hotels & Resorts, responsible for corporate-owned and -managed W, Westin and Sheraton hotels in the Southeast. He is a former senior vice president of Homestead Village Incorporated, where he oversaw operations for 65 hotels across the United StatesÖ

Maritim Hotels, headquartered in Germany, has just opened a North American sales office in New York City. The office, located within the sales office of Maritim's alliance partner, Millennium Hotels and Resorts, is headed by Lisa Cherepon, who has over 20 years' experience in the hospitality and travel industries. Cherepon's most recent position was director of national accounts for Thistle Hotels, where she was responsible for North American corporate and consortia sales. She also held positions as director of corporate sales for Concorde Hotels as well as director of hotel consulting services for American Express OneÖStarwood Hotels & Resorts Worldwide named Scott Duff as senior director of development for Starwood Hotels & Resorts, Canada. Duff brings more than 14 years of hotel experience to his new position, with substantial development experience with Choice Hotels Canada Inc., where he was most recently vice president-franchise developmentÖThe Sands Regent in Reno, Nev., named Cornelius Klerk as chief financial officer. Klerk, 51, will be responsible for accounting, finance, public company reporting, Sarbanes-Oxley compliance and internal audit. He has extensive financial and accounting experience in the gaming industryÖ.Domina Hotels & Resorts named Raffaele Solferino as vice president director of operations support. In his new role, Solferino will oversee the ongoing development and evolution of the standards operating procedures of Domina Hotels four distinctive brands. He will also lead the efforts in building a brands operation team dedicated to ensuring that Domina becomes an industry leader and innovator ÖNoble House Hotels & Resorts, owner of the Inn and Spa at Loretto, located in the heart of Santa Fe, N.M., has appointed a new management team for the property. Glenn Bishop has been appointed general manager of the Inn and Spa at Loretto. Bishop is responsible for overseeing all day-to-day management and operations at the 135-room hotel. He joins the Inn and Spa at Loretto from a sister Noble House property, The Portofino Hotel & Yacht Club in Redondo Beach, Calif., where he began as corporate engineer for Noble House in 1996, and then served as general manager for the past five years. Jeannene Glenn has been appointed director of sales and marketing of the Inn and Spa at Loretto. Glenn is responsible for managing all aspects of the sales and marketing department, including corporate and leisure sales, marketing, advertising, and catering.

TOUR OPERATORS: Classic Custom Vacations said longtime Classic employee Greg Bernd has been promoted to vice president of sales. Bernd steps into this role most recently occupied by Pete Davis, who has chosen to remain in Washington with his family. In December, the company moved from its original San Jose offices to a new 33,000 square-foot, custom-designed headquartersÖE.E.I. Travel and Brian Moore International Tours (BMIT) introduced a new member to its sales team. Doreen Walsh has joined E.E.I. Travel and BMIT as its new Northeast Regional Business Development Manager. Walsh will be managing business development in the states of Massachusetts, Rhode Island, Vermont, New Hampshire, Maine and Connecticut.

TRAVEL INSURANCE: CSA Travel Protection, a leading provider of travel insurance and travel assistance services, has promoted Bob Herwig, CTC, to vice president-national accounts. Based in Irvine, Calif., Herwig will concentrate on servicing and acquiring large travel industry retail accounts and consortia. He will report to Frank Shellabear, president of CSA's Sales DivisionÖCSA Travel Protection, a leading provider of travel insurance and travel assistance services, has promoted David Craychee, CTA, of San Diego to director of sales and customer service. In addition, Scott Turner of Chula Vista has joined CSA as sales division manager, reporting to Craychee. Formerly director of sales and direct marketing, Craychee joined CSA in 1999.

TRAVEL TECHNOLOGY: Worldspan announced the appointment of Kevin Mooney as chief financial officer, responsible for the company's worldwide financial operations, including accounting and financial reporting, investor relations, financial analysis, budgeting, taxes, treasury, purchasing and all Worldspan facilities. Mooney will join the company March 21, 2005ÖPhoCusWright Inc., an independent research firm covering the travel, tourism and hospitality industry, today announced the launch of its Advisory Services Practice, which will provide strategic consulting and custom research services tailored to customer needs and business issues. John Bray, former vice president of Sapient's Travel and Hospitality Practice, has been appointed vice president of the new practice. PhoCusWright's Advisory Services Practice will offer a wide range of services in three primary areas: business and management development, electronic commerce and distribution, and channel evolution.

DESTINATIONS: The Tourism Authority of Thailand (TAT) appointed Bangornrat Shinaprayoon as the new director for the North America East/Canada region. Bangornrat is based in TAT's New York City office and succeeds Sethaphan Buddhani, who has served as director since 2000 and will be returning to Thailand. A veteran with more than 20 years of service to TAT, she began her new post on Feb. 1.

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