PRESS RELEASE

For Immediate Release
Contact: Debra Kelman 212-794-DKPR (3577)
dkelman@dkpr.com

Travel Business Roundtable (TBR) Welcomes The Greater Boston Convention & Visitors Bureau And The American Resort Development Association As New Members

WASHINGTON, D.C. - November 14, 2000 -- The Travel Business Roundtable (TBR), a coalition of more than 60 CEO’s from all sectors of the travel industry whose mission is to educate elected officials on the important contributions travel and tourism makes to the nation’s economy, has announced two new members. This includes Pat Moscaritolo, President of the Greater Boston Convention and Visitors Bureau and Howard C. Nusbaum, President and Chief Operating Officer of The American Resort Development Association

With nearly 12 million international and domestic visitors in 1999, and generating more than $7 billion for the city, the Greater Boston Convention and Visitors Bureau has had great success in bolstering the area’s travel and tourism industry. In addition to historical sites, visitors to Boston cite shopping, dining, visiting museums, and enjoying the nightlife as the most popular activities.

The American Resort Development Association (ARDA) is a non-profit trade association, located in Washington, D.C. ARDA represents the interests of over 1,600 resorts, including second home resorts, vacation timeshare developers, fractional interests as well as timeshare homeowners’ associations and individual timeshare owners across the country.

"With the continued growth of the resort sector of the lodging industry, we are very pleased to have the ARDA join our roster that includes many of the major hotel and resort companies," notes Jonathan Tisch, President and CEO of Loews Hotels and Chairman of the Travel Business Roundtable. "And, as one of the fastest growing cities for new hotel and convention center development, as well as its longstanding reputation as a great leisure destination, we are equally as pleased to have the Greater Boston Convention and Visitors Bureau join our roster, which also includes the Bureaus from New York, Los Angeles, Las Vegas, Miami, and Detroit."

The Travel Business Roundtable is a coalition of more than 60 CEO’s representing all sectors of the travel and tourism industry. In addition to the major airlines, car rental companies, travel management agencies, hotel chains, TBR’s membership roster also includes companies such as The Coca-Cola Company, USA Today, and the International Council of Shopping Centers, demonstrating the broad scope and diversity the industry represents.

Chaired by Jonathan Tisch, President and CEO of Loews Hotels, TBR’s mission is to educate elected officials on all levels of government on the important contributions the travel and tourism industry makes to the nation’s economy. Among the issues it is currently addressing include full restoration of the business meals deduction, welfare to work tax credits, elimination of taxes on frequent flyer miles, and opposition to an increase in the minimum wage.

Projected to be the world’s largest industry within the next decade, travel and tourism is the nation’s third largest retail industry and second largest employer with more than 17million Americans employed directly or indirectly in travel and tourism. As America’s leading services export, travel and tourism created a trade surplus of nearly $12 billion in 1999, generating $82 billion of tax revenue and $541 billion in total expenditures.

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