PRESS RELEASE

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

June 3, 2003

TRAVEL BUSINESS ROUNDTABLE PRAISES CONGRESS FOR PASSING RESOLUTION TO CELEBRATE TRAVEL AND TOURISM

Washington, DC — The Travel Business Roundtable (TBR) hails yesterday’s passage in the House of Representatives of H. Con. Res. 172, which called for a concurrent resolution to support the 20th annual National Travel and Tourism Week. The resolution cites the many contributions that the travel and tourism industry makes to the country. These include its position as the third largest retail industry in the nation, its employment of one out of every seven people in the workforce, and the fact that international travel æ which has declined in the past several years æ is still the country's largest service export, having generated a trade surplus for 14 consecutive years.

"As TBR's mission is to educate both elected officials and the public about the important social and economic contributions the travel and tourism industry makes to our country, we are so pleased that Congress has passed this resolution," notes Jonathan Tisch, Chairman of TBR and Chairman and CEO of Loews Hotels. "We also hope that the recognition that the industry has received continues beyond this particular week annually designated by Congress."

Among the other statistics cited in the resolution to underscore the economic vitality of the industry are that travel and tourism:

	Generated an estimated $537.2 billion in expenditures in 2003
	Supported more than 7.9 million jobs
	Created more than $98.7 billion in tax revenues for federal, state and local governments

The first National Travel and Tourism Week was celebrated in May 1984 when President Ronald Reagan signed a proclamation urging citizens to observe the week with appropriate ceremonies and activities. TBR observed the week, held this year from May 10th to 18th, by releasing an original music video that celebrates and promotes travel and tourism in the United States. The award winning Country music group, Lonestar, lent their #1-hit song “What About Now” as the track for the music montage that includes images of destinations and travel experiences from across the country.

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