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This week in Opportunities:

U.S. Hotel Profits Up 13.1 Percent in 2006
Report: Rental Car Industry Improves on Customer Satisfaction
Opportunities Networking!
Executive Movers! See who's going where?
Travel Executive Employment Report

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OPPORTUNITIES NEWS & TRENDS

U.S. Hotel Profits Up 13.1 Percent in 2006

The U.S. lodging industry continues to benefit from double-digit profit growth in 2006. According to a recent study, the gross operating profit (GOP) for the typical U.S. hotel increased 13.1 percent from the first half of 2005 to the first half of 2006. However, during this period hotel managers continued to struggle to control such costs as salaries and wages, employee benefits, utilities, and maintenance. This analysis is based on data presented in the recently released 2006 mid-year edition of Trends in the Hotel Industry published by PKF Hospitality Research (PKF-HR), an affiliate of PKF Consulting. The PKF-HR 2006 mid-year edition of Trends in the Hotel Industry presents detailed revenue and expense data for both full-service and limited-service hotels for the periods January through June of 2006 and 2005. For the purposes of this report, operating expenses and GOP are calculated before deductions for management fees, property taxes, and insurance. Total hotel revenue grew 9.7 percent during the first half of 2006, the result of strong sales in most operating departments. The survey sample averaged a 1.9 percent gain in occupancy, along with an 8.5 percent increase in average room rates (ADR). The net result was a 10.6 percent boost in rooms revenue, the main driver of total revenue. Hotel operating expenses grew an average of 7.8 percent during the first half of 2006. This is more than twice the 3.8 percent U.S. inflation rate recorded during the same period. Total operated department expenses grew 6.7 percent in the first six months of 2006, compared to a 9.5 percent growth in undistributed department expenses. Undistributed department costs, such as administration, marketing, maintenance, and utilities, are typically viewed primarily as fixed expenses. In other words, they do not vary as much with business volume as the expenses in the rooms, food, and beverage departments. Through the first half of 2006, limited-service hotels enjoyed greater gains in revenue and profits compared to full-service properties. During the first six months of 2006, limited-service revenues grew 11.1 percent, which resulted in a 17.7 percent gain in GOP. Concurrently, full-service hotels saw their revenues grow 9.5 percent, while enjoying a 12.4 percent increase in profits. Due to the impact of Hurricane Katrina on industry performance during the fourth quarter of 2005, as well as a moderation in the nation's economic growth, PKF-HR is expecting a slight slowdown in the pace of performance gains during the later part of 2006. For more information, visit www.pkfc.com/store.

Report: Rental Car Industry Improves on Customer Satisfaction

Travelers renting cars at airport locations record significantly higher customer satisfaction levels with rental car companies than they did in 2005, according to the J.D. Power and Associates 2006 Rental Car Satisfaction Study. Now in its 11th year, the study finds that customer satisfaction with rental car companies has improved 23 index points on a 1,000-point scale -- representing a 3 percent improvement from 2005. Improvements are recorded in all six factors used to determine overall satisfaction: costs and fees, pick-up process, rental car, return process, reservation process and shuttle bus/van. Furthermore, all eight companies included in the rankings record year-over-year improvements. Enterprise ranks highest in customer satisfaction among rental car companies for a third consecutive year, receiving an overall index score of 789 -- a 21-point improvement from 2005. Enterprise performs particularly well in five of the six factors: costs and fees, pick-up process, return process, reservation process and shuttle bus/van. Enterprise is followed in the rankings by Hertz and National, respectively. The study finds that only 29 percent of customers waited to pick up their rental car -- a 15 percentage-point improvement from 2005. However, the average time it takes to pick up the rental car is 21.5 minutes this year. This is an area the industry needs to address since overall satisfaction drops below the industry average with any wait time that exceeds five minutes. The study also found that customers are increasingly renting full-size and sport utility vehicles. While the vast majority of vehicles rented are mid-size cars (42%) or compact cars (14%), the rental share of full-size cars has increased 5 percentage points to 12 percent, while sport utility vehicles has increased 3 percentage points to 11 percent. The Internet continues as the method of choice when making reservations. Overall, 69 percent of customers reserve a vehicle online -- 42 percent at the rental car company Web site, 21 percent at an independent travel Web site, and 6 percent through a corporate self-booking site. For more information, visit www.jdpower.com.

OPPORTUNITIES NETWORKING!

2007 Boston Globe Travel Show

Arthur Frommer, the nation’s foremost authority on budget travel, will join a host of esteemed speakers at the 2007 Boston Globe Travel Show, scheduled to be held March 23-25, 2007 at the Seaport World Trade Center in Boston. The 2nd Annual Boston Globe Travel Show will showcase travel destinations from around the world while highlighting both cultural exhibits and vacation activities. A diverse set of travel exhibitors and suppliers, representing every segment of the travel industry, will offer detailed information on trips to every region of the world, including New England. In addition to Arthur and Pauline Frommer, the list of featured speakers includes Peter Greenberg, travel editor for the Today Show, MSNBC and CNBC, who will address the event’s audience on Sunday, March 25. Admiral George Naccara, Federal Security Director at Boston’s Logan International Airport, will speak to travel professionals at the show’s Trade Day on Friday, March 23. In addition to the host of prominent speakers, The Boston Globe Travel Show will feature Destination Pavilions showcasing both overseas and domestic destinations and tourism boards. Vacation Experience Areas will offer samples of experiences a traveler could expect from destinations around the world, such as culinary tasting and cooking demonstrations, luxury spa treatments, activities such as golf swings and diving and kayaking pools, as well as original and indigenous music and dance from cultures around the world. The show is open to the public on Saturday, March 24 and Sunday, March 25. Exhibitors will offer special travel packages and pricing to travelers who book trips at the show. For more information about exhibiting at the 2007 Boston Globe Travel Show, visit www.boston.com/travelshow.

OPPORTUNITIES EXECUTIVE MOVERS!

AIRLINES: The MAXjet Airways Board of Directors has appointed William D. Stockbridge as President and CEO of the company. Stockbridge has served as Chairman of MAXjet since 2004 and assumes his CEO duties effective immediately. He replaces Gary Rogliano, who has left the company to pursue other opportunities. Stockbridge has been closely involved with MAXjet since its conception in November 2003. As Chairman of its Board, he was instrumental in the airline’s certification, development of its business plan, financing and aircraft acquisition. Stockbridge brings decades of airline experience to his new duties as CEO. Most recently he served as Chief Executive Officer of Centurion Air Cargo. He also founded Gemini Air Cargo and served as its President and CEO. For Gemini, Stockbridge raised $100 million in start up capital from a prominent investment bank and $130 million of additional growth capital and secured debt. Gemini raised a further $170 million in 2000 for aircraft acquisition and expansion. Before founding Gemini, Stockbridge served as President and CEO of Potomac Capital Investment Corporation, Potomac Capital Leasing Group, an aircraft leasing company with $1.4 billion of assets, as well as Senior Vice President and Chief Operating Officer of Presidential Airways, a scheduled US passenger airline. He is a licensed aircraft engineer and pilot. To facilitate the new role, Richard Sharp, who is currently a member of the MAXjet Board and a major investor, will take over Stockbridge’s role as Chairman. Sharp gained his business experience building well known US companies such as Carmax, Circuit City, Crocs and Flextronics... Mesa Air Group Inc. has announced the appointment of David Butler as Senior Vice President Administration and Human Resources for Mesa Air Group. Butler has over 25 years of management experience in a variety of senior level positions with Hewlett Packard, Merck Pharmaceuticals, Kaiser Hospitals and most recently as Chief HR Executive for Arizona State University. Butler will also take on key administrative assignments intended to streamline operational processes and enhance organizational effectiveness... World Air Holdings, Inc. has named Lois Wilson as vice president for Military Sales. Wilson previously was senior director of Military Sales for World Airways, a wholly owned subsidiary. She reports to Rob Binns, chief marketing officer. Wilson, a resident of Newnan, Ga., has been in the airline industry more than 24 years, including five years at World Airways. She has a bachelor's degree in psychology from the University of Delaware.

HOTELS & RESORTS: Barcelo Hotels & Resorts has announced the appointment of Jennifer M. Carvalho to Sales Manager for the West Coast. Carvalho's appointment coincides with the continued growth of Barcelo's all-inclusive resorts throughout Mexico and the Caribbean. Carvalho was previously with the Maui Visitors Bureau where she represented the Bureau from Los Angeles. She is a travel industry sales specialist having also worked for the Anaheim Visitor Center, The Activities and Attractions Association of Hawaii, as well as Carousel Inn & Suites in Anaheim, and the Hilton Waterfront Beach Resort in Huntington Beach, CA... Barcelo Hotels & Resorts has also announced the appointment of Janet Ziegler to Director of Meetings & Incentives for the mid-Atlantic region. Ziegler joins Linda Finley who is Barcelo's Director of Meetings & Incentives for the South and South Central regions of the US. The Company announced the expansion of its group sales and meeting staff as it continues to grow its presence throughout Mexico and the Caribbean. Ziegler joins Barcelo Hotels & Resorts from Sonesta International Hotel Corporation where she was a Director of Regional Sales. She is a hospitality industry veteran that brings more than 15 years experience in sales. She has also held sales management positions with KSL Resorts, The Washington Duke Inn & Golf Club, and The Ritz-Carlton Hotel Company. She is a graduate of James Madison University in Harrisonburg, VA and is active in several industry associations such as Meeting Professionals International (MPI) and Association of Meeting Professionals. Ziegler will focus on group and incentive meeting sales for Barcelo Hotels & Resorts in Mexico and the Caribbean... Susan Santiago has been appointed new General Manager at Hyatt Key West. A seasoned veteran of the luxury hospitality industry, Santiago joined the resort in October 2006 and will oversee all aspects of its operations, including food and beverage, staff service training, public relations and marketing. Santiago brings to Hyatt Key West a distinguished, 14-year-plus career with Hyatt Corporation marked by tenures at a number of distinct, high-end resort properties. Most recently, she was Corporate Food and Beverage Director for the company, overseeing operations of the F&B Division for all of Hyatt's domestic properties, implementing division promotions and developing budgets. Prior to her corporate position, she served as Director of Food and Beverage for Hyatt properties in Lake Tahoe, Phoenix and New Port Beach from 1999 to 2004, managing annual food and beverage revenues ranging from $11 to $18 million. Prior to her promotion to Director, Santiago was Assistant Food and Beverage Director for the 1,400-room Grand Hyatt New York, where she assisted with operations for the hotel's $38 million program comprised of three restaurants, 24-hour room service, a lobby coffee bar and significant off-premise revenue. Santiago began her career with Hyatt at the Hyatt Regency Orlando InternationalAirport in 1992, working her way through an ascending series of positions to Assistant Food and Beverage Director in 1996, before being promoted to the property in New York. Santiago received a Bachelor of Science degree in Elementary Physical Education from Florida International University before pursuing her passion for hospitality... Brad Korzen, CEO and founder of the Los Angeles-based hotel, real estate development and management firm, The Kor Group, has announced the appointment of Greg Ashley as president and partner of a new Kor company being established, effective January 1, 2007 in Vancouver, British Columbia. With offices in Vancouver and Los Angeles, the new company will be the center of expertise for all of Kor's strategic real estate sales and marketing operations. As president and partner, Ashley will be responsible for creating and building a company and team that will lead all real estate sales and marketing efforts for Kor's residential, resort and hotel development, as well as for select third party real estate developers. Ashley joins Kor after a successful 14 year career at Intrawest ULC where he has been involved in the feasibility, planning, design, marketing and sale of over 19,000 homes at resorts throughout North America, Europe, Mexico and the Caribbean. As founding president of Playground Destination Properties (Playground), in just five years Ashley has established and grown Playground into an industry leader: the company directs over 500 resort real estate sales and marketing professionals working on four continents, in eight countries and at over 30 locations, and has achieved approximately $6 billion in sales. As president of Playground, Ashley led an executive team that was responsible for leading real estate sales and marketing efforts in some of the world's most prestigious resort locations such as Maui, Hawaii; Whistler, British Columbia; Snowmass/Aspen, Colorado; Les Arcs, France; and off the coast of Africa on the island nation of Mauritius, to name a few. Ashley and his teams have represented real estate branded by some of the world's leading hotel operators such as Marriott, Westin, Hilton, Rosewood, Fairmont and Four Seasons. Most recently, Ashley and his team established a European operation based in Lausanne, Switzerland with over 60 employees to oversee an expanding European portfolio. Ashley has a degree in economics from Simon Fraser University. Prior to joining Intrawest, he held positions with the investment firm CIBC Wood Gundy and the real estate development company Quadrant Development, a division of Weyerhaeuser.

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