DUBLIN, Ireland, and VAIL, Colo. - Adam Aron, Chairman and Chief Executive Officer of Vail Resorts, Inc. and Neil Wilson, Chief Executive Officer of Datalex (Nasdaq: DLEX - news) announced today that Vail Resorts and Datalex have entered into a joint venture that has formed a new, separate company that will develop next-generation reservations technology.
The yet to be named company will be funded with $12 million over a two- year period. Datalex will contribute $7 million and own 51% of the venture. Vail Resorts will own 49% of the venture and commit $5 million toward the $12 million funding requirement. The joint venture will be committed to developing the next generation of reservation, distribution, and customer relationship management (CRM) software for all of Vail’s world-class destination resorts, as well as for the global leisure travel industry.
The new company expects to benefit from Vail Resort’s operational knowledge in providing comprehensive and complex leisure experiences, and Datalex’s significant achievements in integrated, multi-channel solutions for the global travel industry.
The technology solution is expected to provide fully integrated Internet and Call Center reservations functions with full a la carte vacation packaging, personalization features, and distribution interfaces for leisure travel suppliers. In addition to implementing this technology at Vail Resorts’ five premier resort properties, the new venture will offer this integrated, customer-friendly shopping and booking environment to other leisure travel suppliers in the United States and around the world. Phase one of this solution should be implemented by Vail Resorts in the summer of 2001, with commercial availability shortly thereafter.
“We have been providing this type of technology to the global airline and travel industry for many years and have learned a great deal about what travelers want,” said Neil Wilson. “We are eager to share this knowledge with the destination and resort market, and to broaden Datalex’s strategic direction.”
Aron commented, “Vail Resorts is extremely pleased to partner with a technology development firm with such strong credentials in the travel industry as Datalex. This new venture, and the software it aims to develop, represents an extremely important initiative for Vail Resorts’ core business. Travelers are Internet savvy today and they are increasingly demanding the next level of sophistication in vacation planning and e-commerce. Vail Resorts and Datalex will make this possible, not only for Vail Resorts, but for the global leisure travel industry through the commercialization of the reservations technology solutions that we are developing.”