1. Tourism Consulting Leading professional services for your success Vienna, 2012

2. TPA Horwath Group | Portfolio page 2 TAX CONSULTING AUDITING BUSINESS CONSULTING

3. TPA Horwath Group | Special Expertise page 3  Real Estate Consulting  Tourism Consulting  Energy Consulting  IFRS  EU Consulting, EU Subsidies and Technology Consulting  Actuarial Services  Consulting on Reorganization and Insolvency

4. TPA Horwath Group | Overview TPA Horwath in Middle and Eastern Europe 10 countries 24 offices around 1000 employees page 4

5. Crowe Horwath International | Overview Crowe Horwath International 109 countries 167 member firms 650 offices nearly 28,300 employees Crowe Horwath International is among the ten largest audit and tax advisor networks in the world. page 6

6. Crowe Horwath International | Europe page 6

7. page 7 Clients Tourism Consulting| Clients {combined consulting} Tourism delivers value and benefit for  investors, owners and operators of  hotels and gastronomy businesses (H&G)  travel and transport companies (T&T)  leisure facilities (LF)  tourism associations & destinations (TA&TD)  federal corporations (FC)

8. page 8 Client Segments Tourism Consulting | Client Segments Investors Hotels & Gastronomy Leisure Facilities Travel Transport Tourism Associations Federal Corporations Banks Funds Insurance Companies Private Investors Foundations Public Corporations Fundings City Hotels Holiday resorts Single Enterprises Hotelchains Hostels Cruiseliners Restaurants Caterings Healthresorts Public baths & spas Entertainment parks Nature Parks Theme Parks Seasonal cultural infrastructures Campings Event agencies Tourist guides Tour Operators Travel Agencies Travel Platforms Cable Car corporations Bus company Taxi company Car rentals Railway Airlines Regional TA National TA Marketing Alliances Destinations Management Companies State Federal States Communities Cities EU

9. Topics/Challenges in tourism business Tourism Consulting | Topics/Challenges in tourism business page 9  Strategy & Positioning, USP, Products, Quality  Price enforcement, Cutthroat Competition  Cost pressure (Energy, Marketing, Taxes, Charges..)  Continous capital investment needs vs. Credit crunch  Overindebtedness, long debt clearance duration  Management Succession  Lack of Qualified Personnel  Poor Controlling, no Cost Accounting, no Risk Mgmt.  Rentability of Spa Infrastructure  Power of sales partner  EU funding Resources: Water, Air, Climate, EnergyCorporate Social Responsibility Society: Ageing, Diversity Technology: IT, Mobility Necessity of Growth Global Economy

10. Main Inquiries of Tourism Managers Tourism Consulting | Main Inquiries of Tourism Managers page 10  How can I manage the fast changes in the tourism relevant sorroundings?  How do I gain a sustainable and profitable market position?  Which management competencies do I need now and in future?  How do I avoid rising costs and unprofitable invesmtents?  Rising turnover but rising debt capital – my balance?  How do I optimize the operational processes?  How do I get qualified personnel?  What does my future look like? Travel & TransportLeisure Facilities Hotels Gastronomy Tourism Associations Public Coroporations

11. Seite 10 TPA HORWATH – Coaching forTourism Tourism Consulting | TPA HORWATH – Coaching forTourism Strategy & Objectives Leadership Management FinanceOperations {combined consulting} Accompanying Documentation O.B.A. Controlling/Reporting Cost Accounting Set Accounting Taxes Financial Statements Planning Budget Accompanying Documentation O.B.A. Controlling/Reporting Cost Accounting Set Accounting Taxes Financial Statements Planning Budget

12. Seite 10 „Strategy-Coaching“ Tourism Consulting | „Strategy-Coaching“ ProductCompanyHR/QMMarketing „CC“- Strategy & Objectives Strategy & Objectives Leadership Management FinanceOperations

13. Seite 10 „Leadership/Management“-Coaching Tourism Consulting | „Leadership/Management“-Coaching Management Audit & Coaching Training Interim Management Executive Search „CC“-Leadership/Management Strategy & Objectives Leadership Management FinanceOperations

14. Seite 10 „Finance“-Coaching Tourism Consulting | „Finance“-Coaching Financing Debt Clearance Funding Due Diligence Valuation M & A „CC“-Finance Strategy & Objectives Leadership Management FinanceOperations

15. Seite 10 „Operations-Coaching“ Tourism Consulting | „Operations-Coaching“ Quality Management Human Resource Management Product Management Resource Management „CC-Operations“ Strategy & Objectives Leadership Management FinanceOperations

16. Seite 10 „Combined Consulting“ for Tourism - Summary Tourism Consulting | „Combined Consulting“ for Tourism - Summary Strategy & Objectives Leadership Management Finance Operations ProductCompanyHR/QMMarketing Management Audit & Coaching Training Interim Management Executive Search Financing Debt Clearance Funding Due Diligence Valuation M & A Quality Management Human Resource Management Product Management Resource Management {combined consulting}

17. Mag. (FH) Yvona Asbäck Tel.: + 43 1 588 35 263 Mobile: +43 676 53 70 890 yvona.asbaeck@tpa-horwath.com Teamleader Tourism Consulting Andreas Vögl CMC Tel.: + 43 1 588 35 261 Mobile.: + 43 676 320 81 59 andreas.voegl@tpa-horwath.com Head of Tourism Consulting TPA Horwath Unternehmensberatung GmbH Praterstraße 62-64 A-1020 Vienna www.tpa-horwath.com page 17 Contacts Tourism Consulting | Contacts