PRESS RELEASE

FOR IMMEDIATE RELEASE
Contact: Debra Kelman Loew
212-794-DKPR (3577)
917.612.2325 (cell)
dkelman@dkpr.com

August 1, 2003

U.S. TRAVEL AND TOURISM PROMOTION ADVISORY BOARD FORMED TO MARKET THE UNITED STATES AS A PREMIER INTERNATIONAL TRAVEL DESTINATION

U.S. Department of Commerce Appoints Several TBR Members to the Board

WASHINGTON, D.C. — Secretary of Commerce Don Evans announced today the 15 members of the newly created U.S. Travel and Tourism Promotion Advisory Board, which will make recommendations to the Secretary on the implementation of an international advertising and promotional campaign to encourage individuals to travel to the United States. The Board was created in conjunction with legislation passed earlier this year, which appropriated $50 million and authorized the Secretary of Commerce to award grants and make lump sum payments for this coordinated and historic campaign. The Secretary will consult with the Board on the disbursement of funds.

Eleven Travel Business Roundtable member companies are represented on the new board. They are: Jonathan Tisch, Chairman of TBR and Chairman and CEO of Loews Hotels; Jonathan Linen, Vice Chairman of the American Express Company; J. W. Marriott, Jr., Chairman and CEO of Marriott Hotels; Henry Silverman, President and CEO of Cendant Corporation; James Rasulo, President of Walt Disney Parks and Resorts; Barry Sternlicht, Chairman and CEO of Starwood Hotels and Resorts; Glenn Tilton, Chairman and CEO of United Airlines; Robert Taubman, Chairman and CEO of The Taubman Company; Noel Irwin Hentschel, Chairman and CEO of American Tours International; Manuel Cortez, Chairman and CEO of Las Vegas Convention & Visitors Bureau; and Manny Stamatakis, Board Member of the Philadelphia Convention & Visitors Bureau.

Other members of the Board include: Charles Gargano, Chairman and CEO, Empire State Development Corporation; William Hyde, Jr. President and CEO, Ruth's Chris Steak House; Jeremy Jacobs, Chairman and CEO, Delaware North Company; and Chris Von Imhof, Alaska International Airport Tourism Marketing Council.

Board members were selected by the Department based on the breadth and depth of their experiences with the U.S. travel and tourism industry. They will each serve a term that expires on April 1, 2005. The Secretary of Commerce will convene the first meeting in New York City on September 8, 2003.

"This is an exciting and important occasion, not just for the travel and tourism industry, but for our country. This new campaign is an opportunity to brand and market the U.S. overseas at a critical time, and I am honored to serve on the Board and to be included with these other leaders.” Jonathan Tisch, chairman of TBR and chairman and CEO of Loews Hotels, said. “Although travel and tourism is one of very few industries that creates a multi-billion dollar trade surplus for our country, the U.S. continues to lose market share making us the third most visited destination in the world behind France and Spain. Countries around the world already spend hundreds of millions of dollars to attract visitors and now we finally have the means to promote the number one brand in the world – the U.S.A.,” Tisch continued. "We look forward to working in partnership with the Bush Administration and members of Congress to help revitalize the travel and tourism industry and to send an important message to the world that we want them to come and visit."

Since September 11, 2001, international travel has declined significantly resulting in the loss of millions of jobs in aviation and travel. In 2001, the U.S. welcomed 12 percent fewer overseas visitors, resulting in a loss of nearly $12 billion. While tourism still provides a multi-billion trade surplus - $8.6 billion in 2001 – it has dramatically dropped from $26 billion only five years earlier.

TBR has long sought funding for an international marketing campaign and praised Congress and the Administration for the creation of the Board and the $50 million appropriation. TBR continues to call for the creation of a Presidential Advisory Council on Travel and Tourism. Originally proposed by TBR in March 2001, the Council would be established to provide guidance to the federal government on matters involving national tourism development and would include individuals from the private, public and non-profit sectors to serve as members.

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