Hospitality Marketing Concepts is the leading worldwide provider of outsourced marketing programs for hotels and value-added travel and entertainment services to executives at small- and medium-sized businesses and professionals. The Company’s hotel membership programs are sold for an annual fee and provide customers with an array of complementary and discounted hotel services. In return for offering these benefits to program members, participating hotels receive incremental business from members in addition to a share of the membership fees generated by the program. Currently, HMC manages hotel membership programs for approximately 1,000 hotels located in 50 countries. The Company’s hotel membership programs claim the largest such membership base in the world today with over 600,000 active members. Since its founding in 1988, HMC has consistently demonstrated its ability to both add hotel clients and sell memberships. This growth has primarily been accomplished through targeted geographic growth initiatives and the establishment of the industry’s largest and most expansive infrastructure of approximately 150 call centers. Headquartered in Newport Beach, California, HMC employs worldwide approximately 2,500 full- and part-time employees.