Appoints 20-year Veteran Michael W. McCormick to New Seat
|TORONTO, CANADA, September 21, 2005 – As part of its continued expansion
and growth path, VFM Interactive, the leader in online media management,
production and distribution for the travel industry, today announced it
has expanded its board of directors, appointing Michael W. McCormick, a
20-year travel industry veteran, to its now six-member board.
McCormick is president of MWM Capital, an investment group providing capital and advisory services for a growing portfolio of companies in the travel and tourism industry.
“We are delighted to add Mike’s wealth of knowledge and range of experience to VFM and expect he will make valuable contributions as we continue on our growth trajectory,” said Paolo Boni, president and CEO of VFM.
“I am very excited to become part of VFM as I have watched the company seize a leadership position and believe there is great potential in expanding the application of rich media as broadband usage continues to increase worldwide,” said McCormick. “VFM is well positioned to build on its technology and infrastructure to broaden the way travel suppliers and distributors benefit from the creative use of rich media.”
McCormick’s depth of experience encompasses nearly every aspect of the travel industry. Most recently he was executive vice president of Cendant Travel Distribution Services. Previously he served as chief operating officer of PhoCusWright, Inc. He also served in executive capacities at Rosenbluth International and then Biztravel.com with responsibility for strategic partnerships, business development and supplier relationships.
McCormick’s appointment follows last year’s key appointment of Philip Wolf as VFM Chairman of the Board. Wolf is the founder and president and CEO of PhoCusWright Inc., the leading independent travel, tourism and hospitality research firm, specializing in consumer, business and competitive intelligence.
Other board members represent a cross section of experience from the investment and management arenas including: Tawfiq Arafat, principal with J.L. Albright Venture Partners; Tim Gallagher, managing partner, Intellectual Investments and a Co-chair of the MIT/York Enterprise Forum; and John Pennal, president & CEO of TriNorth Capital Inc.
“As our rich media travel offering continues to expand to meet the marketing and distribution needs of major travel players, we will continue to add key contributors to maximize customer and shareholder value,” added Paolo.
About VFM Interactive
VFM Interactive is the leading distributor and producer of rich media content for the lodging and travel industry. Operating the largest and fastest-growing distribution network, VFM enables hotels to maximize their presence online using the power of rich media on more than 5,000 travel-related distribution points where consumers are researching and purchasing travel products. In addition to sites such as Travelocity, Orbitz, Priceline and TripAdvisor, VFM’s distribution network also includes major search engines like Yahoo! and GDSs, including Worldspan. VFM also produces a variety of media marketing content including still images, rich media videos, 360° virtual tours and Flash productions. VFM’s clients include more than 8,000 hotels and resorts from brands and management companies such as Best Western, Choice, Crowne Plaza, Hilton, Holiday Inn, Interstate, Le Meridien, Marriott, MGM, Outrigger, Radisson, Regent, Sheraton, W, Westin, and Wyndham.
About MWM Capital, Inc
Founded in 2005, MWM Capital is an investment group providing capital and advisory services for a growing portfolio of companies in the travel and tourism industry. Specifically, MWM Capital concentrates on high growth venture/private equity and small cap companies primarily in the travel, search and information sectors. MWM Capital is dedicated to helping management teams achieve the otherwise elusive: maximizing shareholder wealth. .
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|VFM Interactive Launches Vscape® – a Rich Media Distribution Solution Providing Unprecedented Control to Hotels / June 2005|
|After Seeing Tremendous Response to Pilot Online Videos, W Hotels Partners with VFM Interactive to Add Online Video Tours to All its Properties / March 2005|
|VFM Interactive releases PhotoFlicks®; Innovative Rich Media Turns Still Photographs into Audio-enhanced Slide Shows to Increase Hotel Bookings Online / November 2004|
|Vantis Partners with VFM Interactive to offer Hotel Clients Rich Media Solutions / October 2004|
|Rich Content Such as Internet Videos, Virtual Tours and Flash Presentations Significantly Impact the Buying Decision of Consumers Researching and Booking Hotels Online / December 2003|
|Online Rich Content Is an Important Branding Asset as Well as a Compelling Marketing Tool for Hotel Franchisees to Drive Revenues Through All Online Channels, Both Direct and Indirect / January 2004|