GLG News by Experts in the Leisure & Lodging Council

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.

Next Round in the Online Travel Agency (OTA) Fee Wars as Orbitz Drops Hotel Fees

April 22, 2009

Orbitz Aims for Brand Loyalty With New Price Display | www.reuters.com

Latest jab in the OTA "race to the bottom" on consumer fees What will be the reaction, if any, from EXPE and Travelocity? Will consumers even care?

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.

"Rossgate" Continues - Federal Grand Jury Subpeonas Documents From Hilton

April 21, 2009

Hilton Gets Subpoena Over Starwood Spying Claims | www.reuters.com

-Potential huge distraction for both Hilton and Starwood -Hilton development pipeline may be crimped -New opportunities for other brands?

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.

Starwood sues Hilton over Denizen - "Zengate"

April 17, 2009

Starwood Sues Hilton and Two Former Starwood Executives for Corporate Espionage, Theft of Trade Secrets, Unfair Competition | finance.yahoo.com

If successful, Hilton may be forced to massively retrench on their new brand, Denizen. Massive distraction for both companies in already tough times.

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.

Is Allegient Losing Altitude? Not at All. Don't Believe the Naysayers Who Compare ALGT to the Rest of the Airline Industry

April 14, 2009

Allegiant Travel Company Pre-Announces First Quarter 2009 Earnings, Moves First Quarter Earnings Call One Day Earlier to Avoid Conflicts | finance.yahoo.com

ALGT is not a typical airline in any respect.  From revenue sources to cost containment, they are a far cry from AMR and even JBLU or LUV.

Ron LodgePresidentLas Vegas Gaming Consultants 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.

LAS VEGAS IS NOT OFF TO A GREAT START IN 2009 - IS THERE A BRIGHT FUTURE FOR THE GAMING INDUSTRY

April 14, 2009

VISITATION SLIPS 8 PERCENT IN FEBRUARY DESPITE DEEP DISCOUNTS - (LAS VEGAS) | www.lvrj.com

With statistics showing a rather slow start for 2009, can the Las Vegas gaming industry show some promise for the remainder of the year? Where will the business come from to create added revenue? Will the slight signs of the national economy improving create some incentive for people to head to Las Vegas?

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.

Ron LodgePresidentLas Vegas Gaming Consultants 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.

AT A TIME MGM NEEDS ALL THE HELP THEY CAN GET, WHAT'S UP WITH THEIR PARTNER

March 26, 2009

ANYONE HEARD FROM KIRK ..... (Kirk Kerkorian-MGM,MGM/Mirage) | www.lvrj.com

Can the CityCernter 9.3 plus billion dollar project on the Las vegas strip get completed without help from Dubai World? What should we read behind the litigation recently against MGM by D.W.? Could they be looking for a bigger stake in this project?

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

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