Chairman and CEO of Loews Hotels Expanded City's Tourism Industry and Led Record Breaking Growth

New York, NY (February 17, 2008) NYC & Company, New York City’s official marketing and tourism organization, today announced that Jonathan M. Tisch will step down as Chairman and leave the Board of Directors. Tisch, who is also Chairman and CEO of Loews Hotels, has led the City’s tourism organization since May 2002. The announcement comes on the heels of New York City’s most successful tourism year to date—a record 46.3 million visitors in 2007.

“Travel and tourism is a cornerstone of New York City’s bright future. It creates jobs, transforms neighborhoods, and generates millions in tax revenues that support essential City services. It has been an honor to serve as Chairman of NYC & Company over the last six years and I am extremely proud of everything that we have accomplished for the City that I love,” said Tisch. “The City’s tourism numbers have reached an all-time high, the organization continues to grow, and we are ahead of schedule for reaching our ‘50 X 15’ goal. The groundwork and personnel are in place to continue moving forward, and I am confident that the NYC & Company team will help lead the City to unprecedented growth and prosperity. My thanks to Mayor Bloomberg for his extraordinary leadership and to my colleagues at NYC & Company, past and present.”

Following his service as Chairman of New York Rising, a task force set up to help rebuild the City by reviving tourism in the aftermath of September 11th, Tisch was named Chairman of NYC & Company in 2002. Working closely with former New York City Deputy Mayor Dan Doctoroff, he helped expand NYC & Company into one of the world’s largest and most effective tourism and marketing organizations, critical to achieving Mayor Bloomberg’s goal to attract 50 million visitors annually by 2015. Since its expansion, which began in 2006, Tisch helped secure an additional $15 million in annual funding for tourism promotion in New York City – funding which helped launch major campaigns including “This Is New York City,” the City’s first multi-media global campaign, and “Just Ask the Locals,” the first-ever marketing program designed to improve the entry process to the U.S. and the overall visitor experience. The organization has also expanded its presence worldwide to 17 international offices serving 24 markets.

Tisch will continue his national leadership role in the travel and tourism industry. Tisch serves on the U.S. Travel and Tourism Advisory Board, and since 1995, has served as Chairman of the Travel Business Roundtable. In this capacity, he has played a prominent role in addressing visa and points-of-entry issues and is actively working to pass the Travel Promotion Act in Congress. Just last month, he stood with the U.S. Conference of Mayors in Washington, DC to call for the creation of a cabinet-level tourism official and announced plans for a Presidential Forum this spring.

Tisch’s resignation takes immediate effect, and it is intended that NYC & Company CEO George Fertitta will serve as Chairman on an interim basis. Fertitta was selected by Mayor Bloomberg in 2006, working closely with Dan Doctoroff and Tisch, and charged with spearheading the expansion of NYC & Company—merging it with two existing entities—NYC Marketing and NYC Big Events—to create a world-class municipal marketing and tourism organization.

“Jon and I have been good friends for 30 years, and over the past two that we have been working together, his guidance and support has been invaluable,” said Fertitta. “Jon has been the leader of New York City’s tourism efforts and one of the industry’s biggest advocates - his shoes will not be easily filled.”

Tisch has long supported several charitable and social causes, including his work with the Welfare to Work Partnership, the Tribeca Film Institute and the Jonathan M. Tisch College of Citizenship and Public Service at Tufts University. In 2004, Tisch published his first book The Power of We: Succeeding Through Partnerships and in 2007 released Chocolates on the Pillow Are Not Enough: Reinventing the Customer Experience. He also is the host of the television program Beyond the Boardroom on CNBC.

About NYC & Company
NYC & Company is the official marketing, tourism and partnership organization for the City of New York, dedicated to maximizing travel and tourism opportunities throughout the five boroughs, building economic prosperity and spreading the positive image of New York City worldwide.


Kimberly Spell
NYC & Company
tel 212 484 1270

Tiffany Townsend
NYC & Company
tel 212 484 1270