Carlson Accepts Internal Acquisition Offer for Carlson Leisure Group Portfolio of...

Carlson Accepts Internal Acquisition Offer for Carlson Leisure Group Portfolio
of Businesses

MINNEAPOLIS, Jan. 29 /PRNewswire/ -- Minneapolis-based Carlson announced
today that its Carlson Leisure Group, or "CLG," and its portfolio of leisure
travel-related businesses will be acquired by CLG's management team, led by
its President and CEO Michael Batt.
(Logo: http://www.newscom.com/cgi-bin/prnh/20061108/CGW055LOGO)
The transaction, part of Carlson's focus strategy to build its global
brands, involves Carlson Leisure Group only. Carlson will retain its majority
ownership stake in Carlson Wagonlit Travel (CWT), the global leader
specializing in business travel management. CWT also owns and operates leisure
travel services throughout the U.S., Canada and other key countries worldwide.
Carlson will continue to aggressively expand Carlson Wagonlit Travel globally
with its partner, One Equity Partners.
Terms of the purchase agreement for the new venture will not be disclosed.
The acquisition was completed on Monday, Jan. 28.
The new management company is now operating as Travel Acquisitions Group
(TAG), and will continue to operate its current brands, including the Carlson
Wagonlit Travel brand for a period of time, for the approximately 500
U.S.-based Carlson Wagonlit Travel franchisees, as well as with its
wholly-owned retail travel agency locations.
"This is a win/win transaction. It allows Carlson to accelerate the growth
of its global travel, hotel and restaurant brands, and it enables a proven
management team, known and trusted by our franchisees, to seek new
opportunities in the leisure space. Today's markets require a focusing of
human and financial resources. I am confident of a wonderful future for all of
us," said Marilyn Carlson Nelson, Carlson chairman and chief executive
officer.
TAG is purchasing all the travel assets and companies currently held
within CLG. The business employs over 1,000 people directly with
company-owned travel sales approaching $1 billion. Travel sales made within
the various franchise groups involved are in excess of $5 billion. Combined
cruise sales for the group are in excess of $500 million. Other franchised
travel agency brands included under TAG's umbrella are: Cruise Holidays,
Results! Travel and SeaMaster Cruises. Other TAG brands include: All Aboard
Travel, Carlson Destination Marketing Services, Connexion Loyalty Travel
Services, CruiseDeals.com, Cruise Specialists, Fly4Less.com, Luxury Travel
Network, Partners In Travel and SinglesCruise.com.
"Our team really believes in this business," said Batt, chairman and chief
executive officer of Travel Acquisitions Group. "We've all been
extraordinarily fortunate and honored to work with Marilyn and the rest of our
colleagues at Carlson. We've built an outstanding business together in the
past 11 years, and I'm confident we can continue to grow our business in the
new environment. Growth remains a critical part of our strategy, and we intend
to continue our path to become one of North America's leading travel
companies."
Under Carlson, Carlson Leisure Group grew from 960 locations in 1996 to
more than 1,700 today. In addition, CLG company-owned operations had grown to
sales approaching $1 billion, placing CLG in the top 15 of all U.S.-based
travel agency companies.
"Carlson is confident that Mike and his team will take forward the culture
that all of us developed together," Nelson said.
Looking forward, Batt noted, "Emerging from a rich Carlson heritage, built
upon strong values and integrity, we will continue that philosophy and also
continue to look after our people. We will proudly carry on what we've learned
at Carlson to continue making ours a great place for great people to do great
work."
Carlson's history in the leisure travel industry can be traced back to one
of the oldest travel agency organizations in the world -- Ask Mr. Foster,
America's oldest travel agency network, founded in St. Augustine, Florida, in
1888. Carlson acquired Ask Mr. Foster in 1979, and changed its name to Carlson
Travel Network in 1990.
In 1994, Carlson and Paris-based Wagonlit Travel formed Carlson Wagonlit
Travel to focus on corporate travel management, leaving a wholly-owned Carlson
Wagonlit Travel Associates. In 1996, Carlson Leisure Group was formed,
combining the Associate network and remaining Carlson Wagonlit Travel retail
locations operating in the United States. Under Batt's leadership, his team
has grown the business to more than a dozen different brands, serving millions
of customers throughout North America each year.
ABOUT CARLSON:
Carlson is a global leader in the hotel, restaurant, travel, cruise and
marketing industries. The Carlson family of brands and services include:
Regent Hotels & Resorts(R), Radisson Hotels & Resorts(R), Park Plaza Hotels &
Resorts, Country Inn & Suites By Carlson, Park Inn(R) hotels, T.G.I.
Friday's(R) and Pick Up Stix(R) restaurants, Carlson Wagonlit Travel(R),
Carlson Marketing, Peppers & Rogers Group(R), and Gold Points Reward
Network(R). Based in Minneapolis, Carlson's brands and services employ about
190,000 people in 150 countries and territories. Carlson's 2006 systemwide
sales, including franchised operations, totaled $37.1 billion.
http://www.carlson.com
ABOUT TRAVEL ACQUISITIONS GROUP:
With more than 1,700 travel agency locations in the United States and
Canada, Travel Acquisitions Group serves millions of individual leisure
travelers, as well as select corporate clients and destinations. Travel
Acquisitions Group also manages numerous leisure and franchise travel
operations throughout the United States under a variety of diversified brands.
Organized into three individual companies, its brands include Carlson Wagonlit
Travel Associates, Cruise Holidays, Results! Travel(R), SeaMaster Cruises(R),
All Aboard Travel, SinglesCruise.com(R), Partners in Travel, Luxury Travel
Network, Cruise Specialists, Fly4Less.com, CruiseDeals.com, Carlson
Destination Marketing Services and Connexion Loyalty Travel Services.
SOURCE Carlson

Sam Macalus of Carlson, +1-763-212-2477, smacalus@carlson.com; or Steve Loucks
of CLG, +1-763-212-8154, mobile, +1-312-497-2229, sloucks@carlson.com