GLG News by Global Distribution Systems Experts: Travel Agents

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.

Blackstone's Probably Won't Put Others in Play...

July 6, 2007

Will Blackstone’s Hilton Deal Put Others in Play? | online.wsj.com

* Blackstone/Hilton deal is unique on several levels * Hotel Industry metrics have probably peaked in terms of RevPAR. * New Construction in the piptline is at an all time high * Starwood's management is weak and no apparent strategy. *  Marriott is not about to sell the family business

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.

Marriott Knows What They Are Doing

June 18, 2007

Strange Bedfellows: Marriott, Schrager | online.wsj.com

•Marriott is very good at managing multiple brands. •Marriott has successfully kept brands/cultures separate. •Marriott Needed a boutique brand. •Marriott has a history of success in developing brands.

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.

Increasing CAFE standards is not the answer

May 7, 2007

CAFE Break | online.wsj.com

* CAFE  standards never had the intended outcome.
* relies on something to happen in the future when what is needed something for today.
*  Making car makers accountable for conservation rather than the end user is illogical.
*  Drivers are ultimately responsible for conservation.
*  The solution is to follow the Europeans...charge what the charge for fuel and invest that money into the highway and road infrastructure.

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.

RCI buys Spanish Cruise Tour Operator

September 6, 2006

Royal Caribbean buys Spanish cruise operator | today.reuters.com

It is a good thing.

Europe is the fastest growing part of their network and the cruise
industry in general.

Caribbean has too much capacity.

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.

Why Asia has a robust Travel market

August 23, 2006

Asia - Robust Travel Market In The First Half Of 2006 | www.hotelnewsresource.com

*Asia being driven by the China economic growth
*Japan holding its own with its own modest growth.
*Shanghai is the new New York of Asia (and will ultimately displace Tokyo as the financial capital of Asia.
Residual growth from India.

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.

Cruise Lines in trouble?

August 23, 2006

Cruise lines in troubled waters | www.bradenton.com

*The problem exists only in the Caribbean.
*Alaska, Europe remain strong entities.
*Carnival Corp and RCI will continue to have strong margins albeit down YOY.

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.

Flaws with the AA (Sabre) GDS Plan

July 31, 2006

AA Posts GDS Plan | www.solutionz.com

American's failure to reach an agreement with Sabre (and Amadeus) is short sighted indeed. They are trying to act like the play ground bullies and force Sabre to play by their rules and thus force the other GDSs to follow.  In this, I will explain why their thought process is flawed and why probably nothing will happen until after 9/1.

http://www.thebeat.travel/news.php?adate=jul_06%25cid=aaplan

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.

Hertz 1Billion IPO

July 25, 2006

Hertz (HTZ) Files $1 Billion IPO | www.streetinsider.com

•Hertz IPO should do well because the fundamentals of the Travel industry are doing well (e.g.airlines, hotels,etc...)
•They have a done the best job of segmenting the market with the luxury (premium) brand rentals and their "Fun Collection" which will improve yield faster than their competitors.
•Their expansion into the Enterprise markets has grown considerably over the last 2 years and the Hertz brand has a stronger name recognition than Enterprise.

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