Grand Adventures Tour & Travel Launches WeddingTrips Division
AUSTIN, Texas, Jan. 12 -- Grand Adventures Tour & Travel
Publishing Corp. (Nasdaq: GATT), a provider of leisure-travel information and
other services to niche travel markets, today announced the establishment of
its new WeddingTrips division.
This division is dedicated to the sale and marketing of destination weddings
and honeymoons -- a market which generates an estimated $3 billion-plus in
U.S. sales annually. Establishment of the WeddingTrips division is an
outgrowth of GATT's recent launch of Destination Weddings & Honeymoons
magazine and its related Web site,
www.dwhmagazine.com. Management expects a
significant amount of the new division's business to result from inquiries
generated by the magazine and a soon-to-be-released Web site,
www.weddingtrips.com.
"We created this new business unit in response to interest among many of our
key suppliers, such as Starwood Hotels, Sandals, Carnival Corp., and Royal
Caribbean International, in a focused distributor of wedding and honeymoon
packages," commented Matthew O'Hayer, Chairman and CEO of Grand Adventures
Tour & Travel. "This is consistent with our business strategy of expanding
into areas where our publishing and travel/sales capabilities can complement
each other and thus create a dominant position within a niche."
"We believe the wedding trips market is entering a period of very rapid
growth," continued O'Hayer. "Evidence of this can be seen in recent
announcements by both American Airlines and US Airways offering discounts for
groups traveling to wedding destinations. An estimated ten percent of U.S.
marriages during 1999 occurred at resort destinations or on board cruise
ships, and we expect this percentage to double over the next four years."
GATT is a supplier of leisure-travel information and travel-related services
to niche markets that it reaches through the publication of focused magazine
titles and Web sites. The Company publishes Interline Adventures, the premier
travel magazine for airline employees, and Destination Weddings & Honeymoons
magazine. In addition, GATT operates AgentPerx.com, a Web site dedicated to
providing discount travel packages to travel agents.
The Company is headquartered in Austin, Texas, and its common stock trades
on Nasdaq under the symbol "GATT".
This press release may include statements that constitute "forward-looking"
statements, usually containing the words "believe", "estimate", "project",
"expect" or similar expressions. These statements are made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform Act of
1995. Forward-looking statements inherently involve risks and uncertainties
that could cause actual results to differ materially from the forward-looking
statements. Factors that would cause or contribute to such differences are
detailed in the Company's 10-K and other report filings with the Securities
and Exchange Commission. By making these forward-looking statements, the
Company undertakes no obligation to update these statements for revisions or
changes after the date of this release.
Additional information on GATT is available on the Internet at
http://www.perx.com;
agentperx.com; weddingtrips.com; dwhmagazine.com

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