Meeting News - January 7, 2008 - (Page 18)

Transportation & Services Carlson Sheds Regent Seven Seas Cruise Line The buyer, private equity firm Apollo Management, on spending spree for sea assets Fort Lauderdale—Luxury cruise line Regent Seven Seas Cruises is set to be acquired by Apollo Management for about $1 billion from Carlson, the Minneapolis-based hotel and travel services company. Carlson will retain ownership of the worldwide operations of Regent Hotels & Resorts, operated as part of Carlson Hotels Worldwide. Announced last month, the deal represents the third cruise line acquisition by Apollo announced in 2007 and a continuation of significant consolidation in the cruise industry. The deal is expected to be finalized in the first quarter. New York-based Apollo, a private equity firm run by former Drexel Burnham Lambert acquisitions boss Leon Black, had already forked over some $2 billion last year in acquiring seagoing interests. It bought half of NCL Corp. for $1 billion last April and later invested nearly that much in Oceania Cruises, a luxury cruise line based in Miami. Regent’s smallish (by industry standards) luxury vessels include the all-suite, all-balcony Seven Seas Voyager and Seven Seas Mariner, as well as the Seven Seas Navigator and Paul Gauguin. Regent Seven Seas sails its ships to some 300 ports. Both Regent and Oceania will be folded into an Apollo subsidiary, Prestige Cruise Holdings. NCL will remain a separate holding. Edited by Elizabeth West elizabeth.west@nielsen.com Continental Launches Carbon-Offset Program Fourth-biggest U.S. airline asks passengers to donate Houston—Continental Airlines has become the latest air carrier to introduce a carbon-offsetting program to its passengers, whereby travelers voluntarily donate additional monies when buying their tickets to fund environmentally friendly projects around the world. Continental is partnering with a third-party carbon-offsetting company, Sustainable Travel International, which will funnel the fees generated by Continental’s program to one of several projects: renewable energy and energy efficiency projects verified by the Kyoto Protocol; international reforestation efforts; or renewable energy projects. To estimate their donations, customers can use a carbon-offset calculator at www.continental.com to assess the fuel usage and greenhouse gases generated by their trips. “In 2007, we’ve seen a shift in green awareness that’s absolutely phenomenal,” said Amy Spatrisano, president of Meeting Strategies Worldwide, in Portland, OR, noting that the biggest progress up to now had been with hotels. Now, the momentum is carrying into other sectors of hospitality. “It now becomes important for continued on page 20 Sailing on: Seven Seas’ Mariner is one of four vessels that will go to Apollo Management. Limo Service Goes Green New York—Valera Global, a transportation service with a fleet of 215 limousines serving the New York area, has announced a plan to offset 100 percent of its estimated carbon emissions and greenhouse gases by contributing to a non-profit organization that funds eco-friendly projects. According to Robert Mackasek, CEO, the company will not charge its clients an additional fee; the company plans to make the donations unilaterally, based on its fuel usage. Valera’s carbon-offset initiative, moreover, is unique in the chauffeured limousine business, he said. Valera has joined the Chicago Climate Exchange, which will monitor Valera’s monthly fuel usage and estimate its carbon-dioxide emissions. Valera is contractually obligated to purchase carbon-offsets from the exchange through 2010, Mackasek 18 MeetingNews January 7, 2008 said. “It’s a corporate decision,” he said. “We’re footing the bill, and are legally obligated.” The company also is contributing carbon-offsetting fees for its own corporate emissions, including office heating costs and even executive airline travel. Members of the Chicago Climate Exchange can choose where their monies will go to offset carbon and replace oxygen in the atmosphere. Rather than investing in an exotic overseas project, Mackasek said, Valera most likely will choose to fund methane recapturing plants in Upstate New York. “We’re clearly doing something to offset our carbon footprint in a meaningful way,” Mackasek said. “At the same time, our clients will know that, even though they’re riding in the back seat of a Lincoln Town Car, they’re offsetting the emissions from their ride.” Other chauffeured transportation suppliers are looking into green initiatives. Tri Star Transportation, for example, has improved its car wash and office lighting and has updated its fleet to include diesel vehicles. And, BostonCoach is reviewing possible green initiatives. AVW-TELAV Renames Itself After its Parent, Freeman Dallas—AVW-TELAV Audio Visual Solutions, the AV company owned for decades by major trade show contracting firm Freeman, has decided to rename itself as Freeman. It will continue to offer AV presentation services, but according to company CEO and Chairman Don Freeman, the brand-shifting will be sold as a more integrated approach for events. “The bottom line is that working with one integrated company and continued on page 20 Continental Airlines joins the crowd of carbon-offsetters in the airline industry. www.meetingnews.com http://www.continental.com http://www.meetingnews.com

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