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Lasting ‘AIG Effect’

Published Wednesday, May 06, 2009

AIG’s spending spree at a St. Regis resort last September, just days after receiving federal bailout money, continues to send aftershocks throughout the resort and luxury segments of the industry. The opening session of the virtual Resort Conference—a webinar titled “The Voice of Customers”—gave resort owners and operators a chance to hear from meeting planners (corporate, incentive, etc.) earlier this week.  Moderator and HSMAI President and CEO Bob Gilbert called the current landscape “dismal” and talked about the media firestorm and the “collateral damage” still being felt after AIG’s junket. Some of the damage: $1 billion ...

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