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| DALLAS, Oct. 5, 1999 - Pegasus Systems, Inc. (Nasdaq: PEGS)
today announced that the Denver Metro Convention Visitors Bureau (CVB)
is tapping Pegasus Electronic Distribution to provide hotel booking capabilities
for its Internet site (http://www.denver.org). The Denver CVB launched
its new hotel booking capability at the end of September. Pegasus Systems
is a leading provider of hotel industry transaction processing solutions
and electronic commerce services and operates its own Internet travel reservations
site: TravelWeb.com®.
As the first CVB destination site to be “Powered by Pegasus™,” the Denver CVB Web site will be able to provide travel planners and consumers with real-time online hotel reservation capabilities and detailed property information on all Denver CVB-member hotels. Pegasus’ technology also will allow the Denver CVB Web site to make available special discounted rates that the CVB has negotiated with its local member hotels. “Pegasus will support our goal to make planning a trip to Denver simple by offering online travelers a one-stop-shop for information about Denver. We estimate that 22 percent of travelers visiting Denver use the Internet as their primary source of hotel information. Now, visitors to Denver can research information about Denver and book a hotel room all in one place,” said Will Seccombe, vice president of marketing for the Denver CVB. “Pegasus provides the most compatible and cost-effective technology to increase traffic to our site and secure more bookings at our member hotels. Pegasus provides an efficient way to implement Internet booking capabilities without having to spend a fortune on technology and upgrades to hardware and Internet connectivity.”
“With destination sites quickly becoming one of the fastest growing segments in the online travel market, we are uniquely able to help CVBs tap into the growing number of consumers who use the Web to make their travel plans and hotel reservations. By using the right e-commerce partner, CVBs can attract visitors to their site while providing added value to their hotel members,” said John F. Davis III, Pegasus’ president and chief executive officer. “Destination sites can take advantage of Pegasus’ existing connections to hotels, which eliminates the need for sites to establish their own connections for reservations and information.” With direct connections via the Pegasus Electronic Distribution system to hotels’ central reservations systems, Pegasus’ Private Label Reservation Service provides the Denver CVB Web site with the same hotel reservation and confirmation capabilities available through Pegasus’ consumer retail site, TravelWeb.com (http://www.travelweb.com). By using Pegasus’ Private Label Reservation Service, the Denver CVB Web site can give consumers the ability to efficiently shop, compare room rates and query room availability at its local member hotels, as well as view hotel property photos, securely make reservations online and receive a confirmation in seconds. The Denver CVB site welcomes travel agency bookings and is one of the few online travel reservations sites where travel agents can book online and receive their full commissions. Pegasus provides its Private Label Reservation Service to travel planning sites such as Microsoft’s Expedia.com, TravelNow.com and Travelscape.com, as well as to hotel-branded sites such as Sheraton.com, Hyatt.com, and Wyndham.com. In total, Pegasus “powers” hotel reservations on more than 50 Web sites. During the 12-month period ending June 30, 1999, Pegasus processed 1.3 million Internet hotel bookings, representing approximately $312 million in room revenues. Denver Metro Convention Visitors Bureau (http://www.denver.org) is the largest travel marketing organization in Colorado with 50 full-time professionals charged with promoting Denver as a convention and leisure destination. In 1998, 9.4 million people visited Denver and spent $2.2 billion dollars. Pegasus Systems, Inc. (http://www.pegsinc.com) provides electronic commerce and transaction processing solutions to hotels, travel agencies, meetings and convention planners, corporate travel departments and Internet businesses worldwide, as well as operates its own consumer travel reservations site, TravelWeb.com (http://www.travelweb.com). Pegasus’ customers include seven of the 10 largest U.S.-based travel agencies, as well as approximately 30,000 hotel properties around the globe and nine of the 10 largest hotel companies in the world based on total number of guest rooms. Pegasus Systems has its headquarters in Dallas and offices in London. The company’s stock is traded on the Nasdaq National Market under the symbol PEGS. This news release contains statements relating to future results, including services to be offered by Pegasus Systems, which are forward-looking statements regarding future events and the future financial performance of the company and for which no assurances can be made. Actual results may differ materially from those projected as a result of certain risks and uncertainties detailed in the Company’s periodic reports and registration statements filed with the Securities and Exchange Commission. |
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