Printer Friendly Names Stephen L. Cavallaro as President and Chief Executive Officer; New President & CEO Chosen to Guide Company Through Next Growth Phase.

LAS VEGAS--(BUSINESS WIRE)--Sept. 9, 1999--, the leading online wholesale travel planning and reservation service, announced today that it has named Stephen L. Cavallaro as its new president and chief executive officer.

Cavallaro joins Las Vegas-based from Harveys Casino Resorts, where he served as executive vice president and chief operating officer. He replaces's founder and current CEO Timothy Poster, who will continue to serve as chairman.

"Steve Cavallaro's impressive record of financial and operating success for Harveys, combined with his public company and extensive travel/hospitality industry experience, makes him the ideal candidate for this job," said Poster. "I am very pleased to have Steve join at this pivotal juncture when the Company is poised to achieve even greater success and growth than we have already seen. needed someone with Steve's leadership and experience to propel the Company to the next level."

Cavallaro commented: "I have truly enjoyed my tenure as chief operating officer of Harveys, it is a solid company with a great future. However, I have chosen to join for the tremendous opportunity presented by the growth of the online travel industry. I believe in the business model and in our ability to secure a key leadership position in this rapidly evolving and growing industry. I am eager to put my experience to work to help grow to its full potential."

Online travel bookings are expected to grow to $29.5 billion in 2003 from $3.1 billion in 1998, according to Forrester Research. believes it is in a strong position to capitalize on this growth because the company is able to offer online consumers the lowest prices available on a wide range of accommodations and transportation alternatives as a result of strategic alliances the Company has established with distinguished travel industry partners. also provides consumers with a fast, intuitive and easy-to-use Web site that is supported 24 hours a day, 7 days a week by a customer service center. Launched in 1998, already receives more than 2.5 million unique visitors per month and books more hotel rooms nightly than any other online travel service. The company is the second largest wholesaler of hotel rooms in Las Vegas.

"Tim and Tom Breitling, the Company's chief operating officer, have built a truly remarkable, customer-focused company," Cavallaro continued. "The exceptional value, cutting-edge customer service and unique features of put it at the forefront of the online travel industry. I look forward to working with the entire team to continue to deliver first-rate consumer service and to achieve the company's long-term business objectives."

Cavallaro has spent nearly 20 years in the travel service industry. He held the position of executive vice president and chief operating officer of Harveys Casino Resorts, where he is credited with achieving nine consecutive record quarters of EBITDA growth and record operating performance. He previously served as senior vice president and general manager of the company's Hard Rock Hotel/Casino in Las Vegas. Prior to joining Harveys, Cavallaro held executive-level positions at Station Casinos, the Maloof Companies and Harrah's Hotels/Casinos.

Poster co-founded and has served as its chairman of the board and chief executive officer since its inception. Poster also founded Las Vegas Reservations Systems and was president of that company from October 1990 to January 1999.

About is the only major travel site developed by an experienced and leading national wholesale tour and travel company. offers the lowest rates available for hotel accommodations through the company's "No Risk Reservation Guarantee." The guarantee promises customers booking any of's preferred hotels that if a better rate is found for the same hotel on the same dates, will immediately refund the difference.'s proprietary "Click Less" architecture reduces booking time to mere minutes and just five easy steps. does not require registration, so checking hotel and airfare rates is even faster and easier. offers customer support 24 hours a day, seven days a week through its toll-free telephone number (1-888-335-0101). For more information, visit
COPYRIGHT 1999 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1999, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Sep 10, 1999
Previous Article:RAW is War Aces the U.S. Open - Part 2.
Next Article:BW SportsWire Recap.

Related Articles
Ronald Uretta named Insignia/ESG president.
Directors of Federal Reserve Banks and Branches.
Christopher Peacock to become CEO of Jones Lang LaSalle.
Directors of Federal Reserve Banks and Branches.
Douglas Elliman now Insignia Douglas Elliman.
A $25,000 gift from the American society of mechanical engineers, New York City, will fund the creation of the David and Lois Belden Leadership Award...
Industry. (Brass Cracks).
New CEO named at SL Green Realty.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters