GLG News by Airline Global Distribution System Experts

Tom Botts, Partner

Tom BottsPartnerHudson Crossing What is a GLG Leader?|The Gerson Lehrman Group&reg; (GLG) Leader Program<sup>SM</sup> is our premium Member Program<sup>SM</sup>. Those identified as GLG Leaders are in the top 5% of GLG CouncilRank and have an exclusivity agreement with GLG.

Orbitz Finally Falls In Line and Removes Booking Fees: OWW

April 7, 2009

Orbitz Finally Matches EXPE, PCLN and Travelocity in Removing Air Booking Fees | www.orbitz.com

- Much larger portion of Orbitz's earnings come from booking fees than competitors. (Citi estimates nearly 60% for OWW vs ~10% for EXPE.)

Tom Botts, Partner

Tom BottsPartnerHudson Crossing What is a GLG Leader?|The Gerson Lehrman Group&reg; (GLG) Leader Program<sup>SM</sup> is our premium Member Program<sup>SM</sup>. Those identified as GLG Leaders are in the top 5% of GLG CouncilRank and have an exclusivity agreement with GLG.

As Global Business Travel Slumps, Hotel Chains Court Their Most Loyal Customers With New Deals

April 6, 2009

Hotels Turn to Loyalty Programs to Drive Revenue | finance.yahoo.com

-Massive frequent stayer bonus programs are rolled out by all the chains as they battle for share among remaining business travelers -Hotels are happy for redemption of loyalty points as well to build occupancy -Its a great time to earn (huge bonus programs in place) as well as burn (finding a free room is easier than ever)

Christopher Dane, President

Christopher DanePresidentHRG-Executive Travel Associates What is a GLG Leader?|The Gerson Lehrman Group&reg; (GLG) Leader Program<sup>SM</sup> is our premium Member Program<sup>SM</sup>. Those identified as GLG Leaders are in the top 5% of GLG CouncilRank and have an exclusivity agreement with GLG.

AF-KLM eyes CSA and now purchased 25% interest in Alitalia

March 26, 2009

Air France-KLM eyes CSA, crisis ongoing | www.reuters.com

AF-KLM seems to have taken their eye off of the core AF/KLM airline. There is a point of diminishing returns when it comes to economies of scale and they have reach that point! EU may take a greater interest should their be anymore consolidations. This assumes that Iberia remains a separate entity or does something with BA. Lufthansa done a better job of acquisitions, investments and starting new business and seems to be more strategic in their approach.

Tom Botts, Partner

Tom BottsPartnerHudson Crossing What is a GLG Leader?|The Gerson Lehrman Group&reg; (GLG) Leader Program<sup>SM</sup> is our premium Member Program<sup>SM</sup>. Those identified as GLG Leaders are in the top 5% of GLG CouncilRank and have an exclusivity agreement with GLG.

Another Holiday, Another GOOG buys EXPE Rumor...

March 19, 2009

Expedia Shares Rally on Takeover Rumors | www.reuters.com

-EXPE is not a typical GOOG purchase -GOOG would hardly risk millions of dollars in ad revenues to enter the travel space

Tom Botts, Partner

Tom BottsPartnerHudson Crossing What is a GLG Leader?|The Gerson Lehrman Group&reg; (GLG) Leader Program<sup>SM</sup> is our premium Member Program<sup>SM</sup>. Those identified as GLG Leaders are in the top 5% of GLG CouncilRank and have an exclusivity agreement with GLG.

Travelocity matches Expedia - implications for Orbitz, Priceline

March 17, 2009

Travelocity to Waive Flight-Booking Fees - Will OWW match? | online.wsj.com

-Travelocity matches Expedia's booking fee reduction -Orbitz will be forced to match -Limited to no effect on Priceline

Tom Botts, Partner

Tom BottsPartnerHudson Crossing What is a GLG Leader?|The Gerson Lehrman Group&reg; (GLG) Leader Program<sup>SM</sup> is our premium Member Program<sup>SM</sup>. Those identified as GLG Leaders are in the top 5% of GLG CouncilRank and have an exclusivity agreement with GLG.

Expedia's bold move into no-fee air bookings

March 12, 2009

Expedia shares gain on new promotion; rivals slip | biz.yahoo.com

EXPE makes a big bet on traffic and cross-sell OWW potentially crushed PCLN punished unfairly

Tom Botts, Partner

Tom BottsPartnerHudson Crossing What is a GLG Leader?|The Gerson Lehrman Group&reg; (GLG) Leader Program<sup>SM</sup> is our premium Member Program<sup>SM</sup>. Those identified as GLG Leaders are in the top 5% of GLG CouncilRank and have an exclusivity agreement with GLG.

Municipalities have reservations on Online Travel Agent's hotel room tax policies

February 18, 2009

Cities and States Press Travel Sites to Collect Hotel Taxes | www.nytimes.com

Anaheim wins round one in the occupancy tax wars vs. the Online Travel Agents (OTAs) but will it be pyrrhic?

Tom Botts, Partner

Tom BottsPartnerHudson Crossing What is a GLG Leader?|The Gerson Lehrman Group&reg; (GLG) Leader Program<sup>SM</sup> is our premium Member Program<sup>SM</sup>. Those identified as GLG Leaders are in the top 5% of GLG CouncilRank and have an exclusivity agreement with GLG.

TZOO launches a strong product offering - may be the key in a reversal of fortune

February 5, 2009

Travelzoo Purchases Fly.com Domain Name for $1.8 Million | biz.yahoo.com

TZOO hasnt had a new product offering in some time and has faced extensive competition in the travel email advertising world. Fly.com represents an interesting new revenue stream as well as a potential threat to internet darling kayak.com

Christopher Dane, President

Christopher DanePresidentHRG-Executive Travel Associates What is a GLG Leader?|The Gerson Lehrman Group&reg; (GLG) Leader Program<sup>SM</sup> is our premium Member Program<sup>SM</sup>. Those identified as GLG Leaders are in the top 5% of GLG CouncilRank and have an exclusivity agreement with GLG.

BA/IB Merger talks has 2 Opportunities to Collapse

February 2, 2009

British Airways-Iberia merger talks on the rocks | www.reuters.com

 1. BA stock price at 133 pence and potentially can go lower could call off the talks. 2. AA/BA antitrust immunity request could likewise kill the deal.

Tom Botts, Partner

Tom BottsPartnerHudson Crossing What is a GLG Leader?|The Gerson Lehrman Group&reg; (GLG) Leader Program<sup>SM</sup> is our premium Member Program<sup>SM</sup>. Those identified as GLG Leaders are in the top 5% of GLG CouncilRank and have an exclusivity agreement with GLG.

The times are right for Home2 - but how close is it to aloft?

January 26, 2009

Hilton Launches New Focused Service Brand | biz.yahoo.com

Hilton's new brand is well positioned in these times to resonate with consumers.

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