IAC Travel Appoints Cheryl Rosner as President of Hotels.com

InterActiveCorp’s IAC Travel division today announced that Cheryl Rosner,
currently senior vice president of marketing at Hotels.com, will become
president of Hotels.com effective January 1, 2004.

Company co-founders Dave Litman, CEO of Hotels.com, and Bob Diener,
president, will remain in their current roles through the end of the year
and will transition to become advisers to Hotels.com and IAC Travel,
focusing on new growth opportunities for the company. Ms. Rosner will
report to Erik Blachford, president and CEO of IAC Travel.

“As senior vice president of marketing, Cheryl managed the extremely
successful launch of the company’s web site, hotels.com, at a time when
the competitive environment made that seem somewhere between tough and
impossible,” said Mr. Blachford. “In addition, her broad experience with
many aspects of the lodging business gives me confidence that she’s the
right leader to take the reins as we work together to grow the Hotels.com
business under IAC Travel.”

Ms. Rosner joined Hotels.com in 1999, working on hotel relationships and
contracting, and moved into positions in business development and
marketing. Since early 2002, she has led the highly successful effort to
create the hotels.com consumer brand, one of the best-known online travel
brands and most-visited travel transaction sites.

“Bob and Dave have built an incredible company and I’m honored to have the
opportunity to grow this business,” said Ms. Rosner. “I have had the
privilege of working very closely with Bob and Dave, and I know not only
what a successful company they’ve built, but also the passion with which
they built it—they inspired our team to achieve the success we’ve had
and will continue to have.”


Hotels.com was founded by Bob Diener and Dave Litman in 1991 as a
toll-free telephone service offering consumers a one-stop source for
discounted accommodations in major cities. The founders developed the
first successful large-scale merchant hotel business on the Internet with
the development of their affiliate network beginning in 1996, and extended
that business to its branded hotels.com site in 2002. IAC purchased a
majority share of Hotels.com in 1999, and purchased the remaining public
shares earlier this year.

“Bob Diener and Dave Litman pioneered the development of the Internet as a
major distribution channel for hotel rooms, changing the way Americans
plan and buy travel,” said Mr. Blachford. “Their success is a testament to
what the best entrepreneurs and innovators can create—not only great
companies, but entirely new ways of doing business.”

Mr. Diener said, “We have worked closely with Cheryl for more than four
years and have long seen her as our choice to take the helm of Hotels.com.
We have rarely seen executives with her passion, energy and dedication.
She will be a great asset to IAC Travel.”

“Bob and I are excited about our new roles in working to find new areas of
growth for IAC Travel. We also look forward to working with Erik and
Cheryl in growing Hotels.com as the tidal wave of demand for online travel
continues to bring more and more consumers to our sites,” stated Mr.