The Timeshare Beat Home | Today's Headlines | Back to Previous Page
|
The Timeshare Beat Home | Today's Headlines | Back to Previous Page |
|
|
|
Press Release: Cendant Travel Distribution Services
May 19, 2004
PARSIPPANY, NJ -- Cendant Travel Distribution Services (TDS), a division of Cendant Corp. (NYSE: CD), announced
yesterday that it had hired David Falter -- formerly executive director of the Center for Technology Commercialization
at Northwestern University -- as the new president of Travelport Corporate Solutions, effective May 31. Falter
will report to Samuel L. Katz, chairman and chief executive officer of Cendant TDS.
Falter's appointment continues the momentum Travelport has experienced as a provider of high quality, integrated
business travel services since its formal launch last summer. Since that time, the company has experienced solid
growth with significant domestic and international customer wins and a 93 percent growth in year-over-year transaction
volume. Travelport also launched the industry-first "end-to-end" solution comprised of online booking,
GDS and fulfillment services from a single source.
Falter joins the company as it continues that success with year to date 2004 revenue growth of 116 percent. Additionally,
Travelport customers report an average adoption rate of 70 percent against eligible transactions. This is above
PhoCusWright's reported industry average of 35 percent for 2003 and predicted average for 2006 of 48 percent. And,
Travelport customers' "touchless transactions" rate is 80 percent. All of this speaks to the quality
of the company's products, services and people and sets the table for Fatler to lead the company to greater heights
in the coming months and years.
Falter brings an impressive track record of experience in executive leadership, entrepreneurial success, software
and the Internet to a growing Travelport that will directly benefit the company's more than 280 customers -- including
50 Fortune 500 companies -- and its employees worldwide.
"David has exactly the right combination of sales and marketing acumen, management skill, strategic insights
and operational ability to continue and accelerate Travelport's competitive position and numerous successes,"
said Katz.
His appointment to the helm of Travelport also demonstrates TDS's continued commitment to attract top executive
talent who strengthen and advance the company's position as one of the leading brands in the global, business-travel
industry.
"We are serious about competing and winning in this market, and David's hire is our latest step in stacking
the deck at Travelport and TDS with top- notch leaders like Marka Jenkins, Kurt Ekert, Richard Case and others."
In his previous position at Northwestern University, Falter was responsible for managing the transformation of
technologies created by the faculty and students of the university into stand-alone, independently capitalized,
technology companies. Prior to that, he served as partner and practitioner for Acorn Growth Partners, a respected
consulting firm that works with boards of directors, private equity firms and venture capitalists to help strategically
strengthen technology companies. Falter also held a number of prominent positions that included president, chief
executive officer and board member of Freedrive, Inc.; founder, chief executive officer and director of New Logic,
Inc.; national accounts manager for Sun Microsystems; national accounts manager for Intergraph Corp.; and director
of marketing for CAD/CAM, Inc.
Falter has an MBA from the Kellogg School of Management at Northwestern University, an MA in English Literature
from the University of Virginia and a BA in English and Political Science from Miami University of Ohio.
About Travelport (www.travelport.com)
Travelport Corporate Solutions, Inc., a subsidiary of Cendant Corp. (NYSE: CD), is a global full-service provider
of strategic services & tools for mid and large-sized corporations, providing access to online booking tools,
global distribution services, fulfillment solutions and 24/7 global customer care. Travelport was designed in partnership
with customers and provides flexible solutions to corporations directly, and in association with its growing network
of travel management companies. Through its vast portfolio of proprietary tools, Travelport is easily configurable
into existing corporate systems to help increase employee adoption and reduce expenses while still meeting the
high demands of their business travelers. As a Cendant company, Travelport offers corporations ongoing stability,
accountability, innovation, commitment and flexibility that only come with control of ownership from a leading
name in travel. For more information, please visit www.travelport.com.
About Cendant Travel Distribution Services (www.cendant.com)
Cendant Corporation's (NYSE: CD) Travel Distribution Services Division, is one of the world's largest and most
geographically diverse collections of travel brands and distribution businesses. The division, employing nearly
5,000 people in more than 116 countries, includes: Galileo, a leading global distribution system (GDS), serving
more than 43,000 travel agencies and over 60,000 hotels; hotel distribution and services businesses (TRUST, THOR,
WizCom and Neat Group); leading travel agencies (CheapTickets.com, Lodging.com, HotelClub.com and RatesToGo.com);
Shepherd Systems, an airline market intelligence company; Travelwire, an international travel technology and software
company; Travel 2/Travel 4, a leading international provider of long- haul air travel and travel product consolidator;
and Travelport, a provider of online global corporate travel management solutions.
Source: Cendant Travel Distribution Services