Hotels.com

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Hotels.com is a leading provider of lodging worldwide, offering reservation services through its own websites (including www.hotels.com and others), its interactive affiliate network (www.IAN.com), and its toll-free call centers.

Hotels.com was founded in Dallas, Texas by Bob Diener and Dave Litman in 1991 as a toll-free telephone service offering consumers a one-stop source for discounted hotel rooms 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 later launched the very successful Hotels.com brand and website. The company went public in 2000, with Mel Robinson joining the company as EVP & CFO. IAC/InterActiveCorp subsequently acquired Hotels.com in 2003.

Upon the departure of Messrs. Diener, Litman and Robinson in 2004, Cheryl Rosner became President of the company. Joining her on the executive team were Doc Klotz, SVP of Operations, Shawn Freeman, CIO, and Carl Minto-Sparks, SVP of Marketing.

Hotels.com offers travelers the widest selection of lodging accommodations from traditional hotels to vacation rentals at over 25,000 properties in more than 400 cities throughout the world. The company offers a one-stop shopping source for hotel pricing, amenities and availability, and also specializes in providing travelers with accommodations during sold-out periods.

In July 2005, IAC/InterActiveCorp separated into two publicly traded companies: Expedia, Inc., and IAC/InterActiveCorp. Barry Diller remains chairman and senior executive of IAC, as well as chairman of Expedia, Inc.

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