Hotel Reservations Network (NASDAQ: ROOM) (HRN) the leading provider of discount hotel accommodations worldwide, and MasterCard International today announced a strategic alliance, naming the payments association the preferred global payment brand for three of its wholly-owned hotel booking sites, www.hoteldiscount.com ,
, and www.travelnow.com
Under the terms of the agreement, MasterCard and HRN will jointly develop and promote special hotel offers available exclusively to MasterCard cardholders. The first promotion currently underway, for example, offers consumers a rebate of $25 when using a MasterCard card to purchase a minimum 3-night stay at any of the 4,500 global partner properties available online through HRN. HRN is the Internet?fs largest source of discount accommodations worldwide, providing access to more than 4,500 premiere properties in more than 178 major destinations in North America and Western Europe.
“MasterCard enjoys a long and successful history of bringing the benefits of our global brand to our cardholders, member financial institutions and merchants, such as Hotel Reservations Network,?h said Fred Gore, senior vice president of North America Acceptance, MasterCard International. ?gOur alliance with HRN will provide MasterCard cardholders a vast, worldwide selection of differentiated lodging properties and a consistent value when they pay with their MasterCard card on the Internet.?h
“The agreement is a great opportunity for MasterCard cardholders to take advantage of HRN?fs incredible hotel values in great locations, as well as our availability of rooms during popular sold-out periods,?h stated Bob Diener, president of Hotel Reservations Network. ?gWe are happy to be able to help travelers lower their costs, not only by offering the lowest available rates, but also by extending MasterCard cardholders the first of many exclusive promotions, a further $25 rebate on any stay of 3 nights or more when they use their MasterCard card.?h
As part of the agreement, HRN will promote MasterCard as its preferred payment brand through its communications vehicles to consumers, including point-of-sale materials as well as through its websites. In addition, MasterCard will promote HRN?fs 4,500 properties on its website.
12/01/02 Record Bookings From HRN
21/01/02 Outstanding Rates From HRN