Pegasus Solutions` Utell, representing the world`s largest collection of independent hotels(1), continues to add member properties to its unprecedented yearlong GREATRATE promotion. The revamped rate program has recorded increases in promotional bookings for many hotels and travel agencies in 2003, and both parties are optimistic the program will continue to generate bookings through the holiday season. Pegasus Solutions, Inc. (Nasdaq:PEGS) is a leading worldwide provider of hotel reservations-related services and technology.
“We`ve seen a 129% increase in promotional bookings from Pegasus Solutions` Utell since our hotels enrolled in the GREATRATE program, generating revenue of $760,000 year to date for our hotels,” said Daniel Simmons, operations director of Grand Heritage International Hotels. “Utell`s continued promotion of the program to agents throughout 2003 has clearly driven bookings. This program will be a permanent part of our rate strategy for 2004.” Grand Heritage provides inventory from more than 80 properties to the GREATRATE program, including rooms from three- and four-star hotels in Croatia, France, Italy, and the United Kingdom.
More than 2,200 hotels—including 1,400-plus properties in Europe, nearly 200 in Asia Pacific, and 260 in the United States—are offering discounted rates via the GREATRATE program.
Discounts at participating hotels begin at 15%, with many properties offering steeper cuts that range as high as 50 percent off rack rate. As an added value, all guests booked via GREATRATE receive a complimentary breakfast after each night of their stay.
Travel agencies across the globe are increasingly aware of this unique program and are making hotel reservations through GREATRATE in growing numbers. “The GREATRATE program, with its ever-growing number of hotel participants, has been particularly worthwhile for our corporate clients,” said David Witham, vice president, hotel and car relations worldwide for Carlson Wagonlit Travel. “With corporations tightly monitoring hotel costs, the discounted rates allow us to book clients in accommodations that meet their expectations as well as their budgets.”
“The range of Utell properties participating in the GREATRATE program make it attractive to us,” said Michael Walstrom, vice president of sales for Southwest Travel Systems, an online travel agency based in Phoenix. “Both our corporate and leisure clients have more specific requests about their desired hotel than ever before. Utell`s portfolio can accommodate any request we get—and the GREATRATE program delivers a rate that works for everyone involved.”
All Utell hotel bookings are fully commissionable to accredited travel agents. Travel agents can book GREATRATE rates through any Pegasus Solutions` Utell voice reservations office, via all GDSs, and on www.utell.com. Rates are available at participating properties through December 31, 2003, and are valid seven days a week. All bookings require a minimum two-night stay, with no maximum stay restrictions.
Travel agents can utilize www.utell.com to see photos of properties, get details about local attractions, and learn other pertinent information. Agents are invited to visit http://www.utell.com/great_rate.cfm to maximize service to their clients and find more information on the GREATRATE program.
With more than 4,400 member hotels in 140 countries, Pegasus Solutions` Utell is the hotel industry`s largest third-party marketing and reservations provider. Created in 1930, Utell offers travel agents around the world a single source to go to for finding and booking virtually every type of hotel, from deluxe to economy, from independent properties such as the Dorchester in London and the Paris Las Vegas Hotel and Casino in Las Vegas, to hotel chains such as Warwick International, Helmsley Hotels and SuperClubs. For more information, or to make reservations with a Utell-represented property, visit the Utell Web site at www.utell.com, or access the UI code on global distribution systems.
Dallas-based Pegasus Solutions, Inc. (www.pegs.com) is a leading global provider of hotel reservations-related services and technology. Its services include central reservations systems; electronic distribution services that connect more than 45,000 hotels to the Internet and to the global distribution systems (GDS); travel agent commission processing and payment services; the Utell marketing and reservation representation service (www.Utell.com); and PegasusCentral(TM), a Web-based enterprise solution with property management applications. Pegasus` customers comprise the majority of travel agencies around the world, including the top 10 largest U.S.-based travel agencies(2); more than 48,000 hotel properties around the globe, including all of the 50 largest hotel brands in the world based on total number of guest rooms(3); and thousands of Web sites/services have their hotel reservations Powered by Pegasus(TM). In addition to its corporate headquarters in Dallas, Pegasus has 20 offices in 11 countries, including regional hubs in Phoenix, London and Singapore. The company`s stock is traded on the Nasdaq National Market under the symbol PEGS.
Some statements made in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding future events, financial performance and financial projections, as well as management`s expectations, beliefs, hopes, intentions or strategies regarding the future. Because such statements deal with future events, they are subject to various risks and uncertainties, and actual results could differ materially from current expectations. Factors that could cause or contribute to such difference include, but are not limited to, terrorist acts or war, global health epidemics, variation in demand for and acceptance of the company`s products and services and timing of sales, general economic conditions including a slowdown in technology spending by the company`s current and prospective customers, failure to maintain successful relationships with and to establish new relationships with customers, the success of the company`s international operations, the level of product and price competition from existing and new competitors, changes in the company`s level of operating expenses and its ability to control costs, delays in developing, marketing and deploying new products and services, as well as other risks identified in the company`s Securities and Exchange Commission filings, including those appearing under the caption Risk Factors in the company`s 2002 Annual Report on Form 10-K.
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