Published:
LodgeNet Realigns Its Business Into Three Operating Divisions
SIOUX FALLS, S.D., Aug. 27 /PRNewswire-FirstCall/ -- LodgeNet Interactive
Corporation (Nasdaq: LNET), announced today that it will be realigning its
organization around its three key business units: Hospitality, Healthcare and
The Hotel Networks. As part of this realignment, its operations addressing
the hospitality and healthcare markets will be organized into two divisions.
The Hotel Networks, the media marketing division, will continue to operate as
a wholly-owned subsidiary of the Company.
(Logo: http://www.newscom.com/cgi-bin/prnh/20080115/AQTU120LOGO)
"As our company continues to grow and evolve, we believe we can best
enhance shareholder value by creating more tightly integrated teams with a
clear focus on driving results within the markets they serve," said Scott C.
Petersen, Chairman and CEO of LodgeNet. "We believe we have outstanding
opportunities to create increased shareholder value within our hospitality,
healthcare and media marketing businesses, and this new organizational
structure will enhance our ability to deliver innovative new solutions to our
current and prospective customers more quickly and effectively."
As part of this new organizational structure, Scott E. Young has been
named President of the Hospitality division. He presently serves as Chief
Marketing Officer of the Company, a position he will retain in the new
organization. In his new role, Mr. Young will be responsible for all aspects
of the day-to-day management of the Company's Hospitality business division,
which spans more than 1.9 million hotel rooms within 9,900 hotel properties.
Mr. Young will be charged with driving emerging growth opportunities in
Hospitality such as Broadband Solutions and Professional Solutions, as well as
managing the company's core Interactive Media business in Hospitality. In
support of this new role, Young will now have responsibility for the company's
Technical Operations functions, in addition to Sales, Marketing, Programming,
Product Management and Content Licensing.
Mr. Young joined the LodgeNet organization in August 2006 after seven
years at Best Buy Corporation, during which time he held the positions of Vice
President Entertainment, BestBuy.com; Vice President Merchandising, Music; and
Vice President of Digital Entertainment. Mr. Young received his undergraduate
degree at Yale University and has an MBA from UCLA.
"The Hospitality Industry continues to evolve to meet growing guest
expectations for media and connectivity, and LodgeNet is positioned to be the
leader in providing these solutions now and in the future," said Mr. Young.
"I am energized by the challenge that these opportunities represent, and look
forward to working with our team and our industry partners as we continue our
transformation, leveraging our company's assets to build and deliver
profitable new solutions that meet the growing needs of the industry."
With the creation of the Hospitality division, the Company also announced
that Steven R. Pofahl has been promoted to General Manager of Hospitality
Operations. Mr. Pofahl, who joined LodgeNet in 1998, is presently Senior Vice
President of Technical Operations. In his new role, Mr. Pofahl will report to
Mr. Young and will be responsible for all operational aspects of the Company's
Hospitality business including technical, media and account management.
About LodgeNet
LodgeNet Interactive Corporation is the leading provider of media and
connectivity solutions designed to meet the unique needs of hospitality,
healthcare and other guest-based businesses. LodgeNet Interactive serves more
than 1.9 million hotel rooms representing 9,900 hotel properties worldwide in
addition to healthcare facilities throughoutthe United States. The company's
services include: Interactive Television Solutions, Broadband Internet
Solutions, Content Solutions, Professional Solutions and Advertising Media
Solutions. LodgeNet Interactive Corporation owns and operates businesses
under the industry leading brands: LodgeNet, LodgeNetRX, and The Hotel
Networks. LodgeNet Interactive is listed on NASDAQ and trades under the
symbol LNET. For more information, please visit http://www.lodgenet.com.
LodgeNet is a registered trademark of LodgeNet Interactive Corporation.
SOURCE LodgeNet Interactive Corporation
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