Bentley Associates L.P.

Background

Founded in 1990, Bentley Associates is an independent investment banking boutique offering the focused attention and expertise of seasoned Wall Street professionals. The company is comprised of over 25 senior level investment bankers, typically with 20 to 25 years experience

Prior to joining Bentley, our bankers have enjoyed careers at Bear Stearns, CIBC, Citicorp, Dean Witter, Reynolds, Donaldson, Lufkin & Jenrette, JPMorgan Chase, Lehman Brothers, Merrill Lynch, Morgan Stanley,

PaineWebber, PricewaterhouseCoopers, Prudential Securities, and Salomon Smith Barney.

Travel & Leisure

Bentley’s travel and leisure group has proven experience selling companies, financing growth plans, and advising on acquisitions and turnarounds. The group’s range of services includes mergers and acquisitions advisory (buyside and sellside), private placements (debt and equity), and strategic advisory assignments. The travel and leisure team prides itself on its ability to successfully present complex stories to the marketplace and provide clients with multiple financing and strategic options.

The travel and leisure group’s areas of focus include:

* Business Services Companies
* Corporate / Leisure Travel Agencies
* Deal Publishers
* Hotel Representation Companies
* Meeting / Event Companies
* Meta-Search Companies
* Online / Offline Distribution
* Social Networking Companies
* Technology / Software Providers
* Tour Operators
* Vacation Rental / Exchange Companies
* Wholesalers

Travel Industry Team

FRANK SENA, MANAGING DIRECTOR

Frank Sena began his career with Cambridge Technology Group where he held management positions at two successful startup software companies. After business school, he joined the Investment Banking Department of Salomon Smith Barney in their Technology Group, where he worked with clients in the telecommunications

equipment, information technology services, Internet, software and PC hardware sectors.

In 1998, he joined CIBC World Markets as an Executive Director in the Mergers & Acquisitions Group where he worked with clients from various

industries, including travel services, leisure, lodging, gaming and technology. In 2003, Mr. Sena joined Libra Securities, as Managing Director and Head of the Travel & Leisure Investment Banking Group. During his career, Mr. Sena has completed an extensive array of travel and leisure transactions in the areas of mergers, acquisitions, fairness opinions,

private financings and financial advisory assignments. He and his team joined Bentley in early 2009. Mr. Sena received his B.S. from Yale University and his M.B.A. from the Wharton School, University of Pennsylvania.

JUSTIN HIRS, VICE PRESIDENT

Justin Hirs joined Libra Securities in 2003 as a financial analyst. Mr. Hirs has experience working with travel services companies on mergers & acquisitions, financing and strategic advisory projects. He joined Bentley in early 2009 as a Vice President. Mr. Hirs received a B.S. and B.A. from the Wharton School and the College of Arts and Sciences at the

University of Pennsylvania.

Contact information: (212)-763-0362; jhirs@bentleylp.com

VALERIE CHANG, ANALYST

Valerie Chang joined Bentley in 2009 after receiving her B.S. from the Leonard N. Stern School of Business at New York University. While attending university, Ms. Chang worked at several financial firms. Her experience includes positions as a junior accountant for the real estate investment firm of Thylan Associates, junior analyst for the boutique private equity firm of Conversion Partners, and analyst for both the global investment banking corporate audit group of Bank of America and for the private equity group of Citi Private Equity.

Contact information: (212) 763-0369; vchang@bentleylp.com