PRESS RELEASE

For Immediate Release

Travel Business Roundtable Condemns Terrorist Attacks, Calls On Travel Industry To Work Together Through Creation Of Presidential Advisory Council

WASHINGTON, D.C. - September 20, 2001 -- The Travel Business Roundtable (TBR) expresses its collective shock, outrage and sadness at the recent terrorist attacks. We extend our sincerest condolences and sympathies to everyone affected by this enormous tragedy.

"Our thoughts and prayers are with all of our friends, colleagues, families and everyone else who has been personally and directly affected. Our hearts ache for all those who are still missing loved ones," stated Jonathan Tisch, Chairman of TBR. "To all of the firefighters, police officers, emergency workers, medical professionals and volunteers, we offer our sincerest thanks for their heroic and courageous efforts. As a New Yorker, I have been moved by the outpouring of support from around the country and uplifted by the strength and will of the human spirit."

The travel and tourism industry, which employs over 17 million Americans in full or part time jobs, is experiencing immediate economic effects from the recent terrorist attacks.

"The broad scale economic impact of these unspeakable acts of terror is one that affects every corner of this country. Already, the airline sector has announced more than 70,000 layoffs, with projections that it could reach 100,000. As a result, other areas of the travel and tourism industry will be severely effected. This includes, hotels, restaurants, cruise ships, retailers, financial services companies, convention and visitors bureaus, and cultural attractions and others - businesses, both large and small," stated Jonathan Tisch, Chairman of TBR and Chairman and CEO of Loews Hotels.

To help work through the challenges that lie ahead, TBR stands ready to work with the United States government to expedite the creation of a Presidential Advisory Council on Travel and Tourism. The Council, which was proposed to President Bush and Members of Congress by TBR on May 1st, can bring the public and private sectors together to work towards strengthening security for the traveling public as well as collaborating on effective policies to maintain the nation’s third largest retail industry and second largest service export, which contributed a $17 billion trade surplus last year.

Over the course of the last several months, TBR has held extensive meetings with officials at the White House to discuss the Council, and is pleased with the progress. During the past week alone TBR has engaged with the Administration, not only on the Presidential Advisory Council proposal but also on the concept of organizing a summit for travel and tourism industry leaders and the Administration in the near future.

As the world’s largest industry, travel and tourism is an integral part of the nation’s economy as well as every state’s economy. According to industry data, travel and tourism is responsible for $3.5 trillion in global activity and generates as much as $582 billion in economic activity in the U.S. alone. Ensuring the continued strength, growth and vitality of the diverse travel and tourism industry reaffirms travel as an essential freedom and is a necessary and just response to the terrorists’ efforts.

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

Rush Marburg 202/530-4854
Travel Business Roundtable
RUSH_MARBURG@was.bm.com

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