Raymond James | Professionally Speaking | Full Speed Ahead For Family Vacations

The idea of the family vacation is so cemented into the culture that Americans are probably going to take one this year despite the escalating costs of flying or driving somewhere. The proliferating charges travelers face this year – from baggage handling to seat selection – may be of more concern than in the past, however. Airlines and cruise lines are imposing fuel surcharges and hotel costs may be moving up, too, even as they offer some attractive discounts to lure leisure travelers. Raymond James’ Growth Airlines Analyst Jim Parker, Senior Lodging Analyst Bill Crow and Leisure Analyst Joe Hovorka address various aspects of air travel, lodging and the cruise industry in this special summer vacation edition of Professionally Speaking, hosted by Larry Pugliese.

For personalized advice on how the current leisure travel situation might present an opportunity for your portfolio, please contact a Raymond James financial advisor.

James D. Parker

Managing Director - Equity Research
Raymond James & Associates

Widely acknowledged as the most influential analyst in his sector – growth airlines – Jim Parker came to Raymond James in May 2000. Previously, he was a managing director at The Robinson Humphrey Company, where he was an analyst for 31 years. Mr. Parker has arguably done more than any other Wall Street analyst to define the investment thesis for low cost (LCCs) and regional carriers. He has worked diligently to educate investors in North America and Europe about such airlines, and correctly identified their investment merits many years before it was commonly accepted that the LCCs and regional airlines would the long-term strategic winners in the industry. Mr. Parker is the only analyst to have been recognized in The Wall Street Journal Best on the Street Survey in each of the first 13 years that it was compiled, and is one of the very few analysts in The Wall Street Journal’s Analyst Hall of Fame. In addition, he was named one of the “30 Smartest People in Investing” by SmartMoney magazine. Mr. Parker has an M.B.A. and a Ph.D. in marketing from the University of Georgia.

William A. Crow

Senior Vice President - Equity Research
Raymond James & Associates

With a background in financial services, Bill Crow joined the Raymond James real estate team in early 1997 and focuses on lodging companies and lodging, multifamily, and office REITs. He has been recognized in The Wall Street Journal Best on the Street Survey each of the past four years. He is often featured on CNBC, Bloomberg TV, and Bloomberg Radio, among broadcast media outlets, and quoted in The Wall Street Journal, The Washington Post, and a variety of other local and national publications. Prior to joining Raymond James, he was a REIT and lodging analyst with Southwest Securities for two years, after serving as an associate in the firm’s corporate finance department. Mr. Crow earned his bachelor of business administration degree and an M.B.A. in finance from Southern Methodist University.

Joseph D. Hovorka

Senior Vice President - Equity Research
Raymond James & Associates

Joe Hovorka joined Raymond James in June 2000 as a senior analyst covering the leisure and entertainment area. He focuses on cruise lines, leisure products and services, and motorsports. Before joining Raymond James, he worked for four years at A.G. Edwards, where he was an associate vice president and senior analyst covering leisure services. Prior to that, he worked as a research assistant at Roulston & Company in Cleveland. Mr. Hovorka was twice ranked among the top 10 analysts covering the leisure sector in the Reuters Survey. He has also twice been named to The Wall Street Journal Best on the Street team for leisure stocks. In addition, Mr. Hovorka has been recognized in the StarMine Top Analyst Survey. He graduated with honors from Cleveland State University, where he earned a bachelor of arts degree in business administration.

All expressions of opinion reflect the judgment of the Equity Research Department of Raymond James & Associates at this time and are subject to change. Information has been obtained from sources considered reliable, but we do not guarantee that the material presented is accurate or that it provides a complete description of the securities, markets or developments mentioned. Other Raymond James departments may have information that is not available to the Equity Research Department about companies mentioned. We may, from time to time, have a position in the securities mentioned and may execute transactions that may not be consistent with this presentation's conclusions. We may perform investment banking or other services for, or solicit investment banking business from, any company mentioned. Investments mentioned are subject to availability and market conditions. All yields represent past performance and may not be indicative of future results. Raymond James & Associates, Raymond James Financial Services and Raymond James Ltd. are wholly-owned subsidiaries of Raymond James Financial.

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