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August 5, 2007

The Booming Luxury Travel Business

• There is no Abercrombie in Abercrombie & Kent, and there never was. Founder Geoffrey Kent just thought it sounded better this way, plus it got it to the front of alphabetical listings.
• Company sales of $500m are growing by 25% per year
• Fortress currently has majority control, and is lining up for an IPO
• Most expensive trip ever: $1.7m for a U.S. CEO who wanted to take 70 family and friends to east Africa
• Advice to him from Bill Gates on one trip: "If it works, it's obsolete"

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