Expedia Contributes up to $100,000 Scholarship Challenge Grant to National Academy Foundation
Funds Provide Scholarships to High School Students Displaced by Hurricanes
WASHINGTON, Jan. 10 /PRNewswire-FirstCall/ — The Travel Industry Association of America Foundation (TIA) and Expedia, Inc. (NASDAQ: EXPE) announced today that Expedia, Inc. has contributed a challenge grant of up to $100,000 to the National Academy Foundation for a scholarship program to assist students impacted by the Gulf Coast region hurricanes. Under the challenge grant, Expedia will match all other travel industry contributions to the program in 2006 up to $100,000. TIA’s Foundation kicked off the challenge with a $10,000 donation.
With other travel and tourism industry companies participating in its challenge, Expedia’s initiative could provide up to $200,000 to fund 15 to 30 two and four-year scholarships for graduating seniors who pursue post secondary education with a concentration in or some specialization in the travel and tourism industry.
Those eligible for the scholarships are NAF students in Alabama, Louisiana, Mississippi and Texas who are pursuing an educational program in travel and tourism but lack the financial resources necessary. Students will be selected in 2006 and 2007.
“The entire travel and tourism industry responded with incredible generosity to the immediate needs in the Gulf and in Mexico following the 2005 hurricanes, and we’re glad that we were able to be a part of that response,” said Dara Khosrowshahi, CEO of Expedia, Inc. “This particular commitment to the scholarship fund reflects our belief that the issues of poverty and access to opportunity that the hurricanes brought into sharp relief also need to be addressed in our response. We want this contribution to provide hope and new opportunities in our industry for many young people, allowing them to succeed and their families to flourish.”
John J. Ferrandino, president of NAF said: “At a time when students from the Gulf Coast region are still struggling to pick up the pieces and have some normalcy returned to their lives, Expedia’s generosity will make a significant difference in ensuring that they will still be able to pursue their academic goals. On behalf of NAF, and more importantly on behalf of our students displaced by the hurricanes, we are extremely grateful to the Travel Industry Association Foundation and Expedia for their commitment.”
“The Expedia Challenge is a gift that just keeps giving,” explained Roger Dow, President and CEO of TIA. “It helps those in need who are building careers. It supports the Gulf Coast economy by providing educational incentives and developing the skilled managers of tomorrow. It provides the next generation of leadership for our industry. The Expedia Challenge is an investment in our future.”
Expedia’s grant, formally announced today before more than 450 travel industry leaders at TIA’s annual State of the Travel Industry Luncheon in Washington, DC, is also a challenge to the industry to join Expedia in using this match to potentially triple the $100,000 already raised by thousands of students at the 650-plus National Academy Foundation (NAF) career themed small schools across the country. The students raised the money in response to the hurricanes and to help their peers at the three dozen NAF academies in the affected region.
About Expedia, Inc.:
Expedia, Inc. is one of the world’s leading travel services companies. With its portfolio of leading travel brands, Expedia, Inc. empowers business and leisure travelers with the tools and information they need to easily research, plan, book and experience travel. The company also provides wholesale travel to offline retail travel agents. Expedia, Inc.’s main businesses and brands include: Expedia.com®, Hotels.com™, Hotwire®, Expedia® Corporate Travel, TripAdvisor™ and Classic Vacations®. Expedia, Inc.’s companies also operate internationally with sites in Canada, the United Kingdom, Germany, France, Italy, the Netherlands, Australia and China, through its investment in eLong™. For more information, visit http://www.expediainc.com/.
About the National Academy Foundation (NAF):
NAF has been at the forefront of high school reform for more than 20 years. In fact, NAF pioneered the approach of “schools within schools” as a model for educational reform and the current small school movement has its roots in the growth and success of NAF.
NAF academies foster students’ motivation to learn and better prepare then for postsecondary education and successful futures in their chosen professions. NAF Academies close the achievement gap in America’s schools by closing the opportunity gap, inviting all students into a culture of success.
About Travel Industry Association of America (TIA):
TIA is the national, non-profit organization representing all components of the $600 billion travel industry. TIA’s mission is to represent the whole of the U.S. travel industry to promote and facilitate increased travel to and within the United States. For more information, visit http://www.tia.org/.
For more information on the Katrina scholarship program, log onto NAF’s website at http://www.naf.org/ or call 212-635-2400.
SOURCE: Expedia, Inc.
CONTACT: Katie Deines of Expedia, +1-425-679-4317, or press@expedia.com;
or Colleen McMillen of National Academy Foundation, +1-212-635-2400, ext. 262,
or cmcmillen@naf.org; or Bruce Bobbins or Adam Miller of Dan Klores
Communications, +1-212-981-5239, for National Academy Foundation; or Cathy
Keefe of Industry Association of America, +1-202-408-2183</br/></br/></br/></br/>
Web site: http://www.tia.org/
Web site: http://www.naf.org/
Web site: http://www.expedia.com/