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HPN Named Top 5 Hot Growth Companies by biz AZ Magazine
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Site-Selection Firm Has Grown by 227 Percent Since 2003
SCOTTSDALE, Ariz. (March 13, 2007)…Joe Forster, president and chief operating officer of Hospitality Performance Network (HPN) is pleased to announce biz AZ Magazine has selected the site-selection and meeting procurement firm as one of Arizona’s top five “Hot Growth” companies in 2007. 

“We are extremely honored to be recognized by the local business community,” said Forster.  “HPN has experienced tremendous growth since we started in 2002 and we attribute a lot of it to the centralized purchasing component of our business model. It streamlines our efforts and allows us to leverage rates and contract terms for clients.  It also alleviates time spent on paperwork, thus allowing our sales associates to focus on what they do best – selling.” 

HPN was selected from more than 35 nominees and judged on financial strength, including revenue, employee growth and advancements made in their respective fields. All nominees had to be headquartered in Arizona, in operation for at least three years and produce at least $1 million in revenue by the end of fiscal 2005. 

Founded in 2002 by Joe Forster and Bill Kilburg, HPN has grown by more than 227 percent from 2003 to 2005.  Additionally, it has grown from two full time employees to a network of 55 sales associates and expanded from a 1,100 square foot office to a 7,700 square foot office in North Scottsdale. 

Forster and Kilburg have a combined 40 years of hotel industry experience and bring a diverse background in site selection, meeting procurement, sales, marketing and finance to HPN. 

“Our experience on the hotel side of the business has been extremely beneficial,” said Bill Kilburg, HPN chairman and CEO.  “We know how to negotiate contracts and get the best terms for our clients, while still making it attractive to the hotels.  Since the beginning, we’ve taken a great deal of pride in establishing strong relationships with the hotels and that has set us apart from our competition.” 

In 2006, HPN placed about $60 million in booked room revenue, compared with $38 million in 2005.  That equates to about 2,500 meetings planned throughout the country for companies such as Avnet, Diago, Wells Fargo, Stryker, Honeywell, Dunn & Bradstreet. 

Clients do not pay HPN for its services.  Rather, the hotels pay the company a placement fee because HPN is delivering incremental business. 

“While room rates are usually lower for our clients, the hotels also make money from guests playing golf, ordering room service, making telephone calls and using the mini-bar,” said Kilburg. 

In the coming years, HPN hopes to expand its sales network to between 120 and 150 sales associates. 

Based in Scottsdale, Hospitality Performance Network is the fastest growing site selection and meeting procurement company in the United States.  Since opening in 2002, they have expanded from two full time employees to a network of 55 sales associates. HPN offers its clients a customized and comprehensive approach to site selection, contract negotiation, destination management, offsite catering, on-line registration and production.  HPN – saving its clients time, money and adding value to their meetings. 

For more information about Hospitality Performance Network, please visit www.hperformance.com or contact Joe Forster at (480) 998-9770 ext. 224. 

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Contact:

Lindsay Hansen 
Public Relations - Marketing - Communications 
lhansen5@cox.net 
480.205.6195

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