Pegasus Solutions Signs U.K.-Based Hotelnet for Internet Bookings - Agreement Provides Web Site Rese

Pegasus Solutions, Inc. today announced it has signed an agreement with United Kingdom-based Hotelnet (www.hotelnet.co.uk) to power its online hotel bookings. Hotelnet is a part of Holidaybreak, an operator of several travel-related businesses. Dallas-based Pegasus Solutions is a leading provider of hotel industry transaction processing solutions and electronic commerce services.
This agreement, under which the Hotelnet Web site is Powered by Pegasus(TM), allows Hotelnet`s users to select and book accommodations online by providing direct access to the central reservations systems (CRS) of the hotels represented in Pegasus Solution`s Online Distribution Database, ranging from luxurious five-star hotels to independent family-run properties. Hotelnet users can check availability online and bookings are confirmed immediately without waiting for confirmation by e-mail. Hotelnet customers can view detailed property information, rates and photos, and secure instant real-time reservations 24 hours a day at potentially more than 38,000 hotels around the world. More than 40 percent of these hotels are located outside the United States.
Pegasus is now powering the majority of Hotelnet`s hotel reservations. Prior to the agreement with Pegasus, Hotelnet used its own hotel database and online booking engine, both of which it will continue to use in addition to Pegasus` capabilities. By signing with Pegasus, Hotelnet increased its hotel offerings by approximately 400 percent.
``We pride ourselves on offering a continually high level of service to our customers,`` said David Ranby, marketing manager for Hotelnet. ``Our recent agreement with Pegasus Solutions illustrates our dedication to providing quality, branded accommodation worldwide; names that our customers can rely on.``
Hotelnet`s content is exclusively accommodation-based. ``The site has been running for over six years and is a popular stop for finding a hotel in the U.K., Europe and North America,`` Ranby said. ``By signing with Pegasus, we are now able to offer online booking capabilities for 90 percent of the hotels at our site.``
According to industry analyst Forrester Research, online hotel sales are expected to grow to $5.7 billion in 2004. The research firm PhoCusWright reports the European online travel market is expected to more than triple from an estimated $2.9 billion worth of bookings in 2000 to more than $10.9 billion in 2002.
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