Board of Directors


Mr. Desai is a partner at CPMG, Inc. CPMG is an investment firm that employs a concentrated, value-oriented approach to investing in publicly traded and private operating companies. Prior to joining CPMG’s predecessor, Cardinal Investment Company, Mr. Desai worked as an analyst at WhiteHorse Capital Partners, L.P.

He currently serves on the Board of Directors of Procept BioRobotics Corporation, ESN Venture Holdings LLC, and Lifeblue Incorporated. Mr. Desai holds a B.S. and an M.B.A. from The Wharton School at the University of Pennsylvania.


Mr. Dobrient has focused his career on refining the movement of people and materials from one location to another smoothly and seamlessly. After leading a time-critical delivery and logistics company for over a decade, he recognized the need for an elevated ground travel experience and launched Savoya. Building on this expertise, he currently serves as Chairman of Travel Research Advisors, the parent company of Savoya and two related entities in the travel space.

Prior to establishing Savoya in 2000, Mr. Dobrient was co-founder and President of Max America, a same-day delivery and logistics firm that won Inc. “500” honors three consecutive years in the early 1990s. In 1997, he led the acquisition of Max America by publicly held Dynamex Inc. – a leading consolidator in the mission-critical distribution industry.

Mr. Dobrient is a Director at Triumph Bancorp (TBK: NASDAQ), a bank holding company based in Dallas, Texas. He is a Director at Grand Junction, a Software-as-a-Service platform that manages couriers and local delivery programs. He is also a Director at MealTicket, a provider of cloud-based sales, marketing and analytics software for the food distribution industry.

Mr. Dobrient received a BBA from University of North Texas. He serves as a mentor and board member at Mercy Street, a program serving inner-city youths and their families. Mr. Dobrient resides in Dallas with his wife and two daughters.


Mr. Ralls is a founding partner of Lacuna, LLC, an investment management company started in 2006 that focuses on both public and private companies.

From 1999 to 2006, he was Chairman of, an Internet email and web hosting company, where he led corporate strategy and development.

Mr. Ralls currently serves on the Board of Directors of a number of companies, including Tucows, Inc., IntraOp Medical, Knowledge Factor, MealTicket, Concept3D and Meteora.


Carlos M. Sepulveda, Jr. has served on the Travel Research Advisors board of directors since 2014. He is also the Chairman of the Board at Triumph Bancorp, Inc. where he has served since 2010 and also serves as Chairman of TBK Bank, SSB, a subsidiary of Triumph Bancorp, Inc.

Since 2007, Mr. Sepulveda has served as a Director and Chairman of the Audit Committee for Cinemark Holdings, Inc. and was appointed lead Director of the Board in 2016.

He served as a director, executive committee member and chairman of the audit committee of Matador Resources Company from 2013 to 2017.

Mr. Sepulveda has extensive experience in business and finance. He joined Interstate Battery System International, Inc. in 1990, has served on its Board of Directors since 1995 and was its President and Chief Executive Officer from 2004 until 2013. Prior to joining Interstate Battery, Mr. Sepulveda was a partner at KPMG with more than 10 years of audit experience.

Mr. Sepulveda received a Bachelor of Business Administration with highest honors from the University of Texas at Austin. He is a certified public accountant (CPA) and is a member of the American Institute of CPAs and Texas Society of CPAs.