2002 Banner Year for Pegasus Commission Processing in Spain With 50 Percent Growth in Travel Agency Membership.Business Editors/High-Tech Writers DALLAS Dallas, city (1990 pop. 1,006,877), seat of Dallas co., N Tex., on the Trinity River near the junction of its three forks; inc. 1871. The second largest Texas city, after Houston, and the eighth largest U.S. & MADRID--(BUSINESS WIRE)--April 28, 2003 Pegasus Solutions, Inc. (Nasdaq:PEGS PEGS polyethylene glycols used as drug solvents. ) announced that during 2002 the company expanded its Spain-based travel agency enrollment in the Pegasus Commission Processing service by more than 50 percent. The noteworthy increase included the addition of more than 1,200 new agency locations from among some of Spain's largest travel agencies, most of which focus on corporate travel. Pegasus Commission Processing is the hotel industry's leading travel agent commission processing service and was created in 1992 by Dallas-based Pegasus Solutions, a leading worldwide provider of hotel reservations-related services and technology. Pegasus now has more than 3,400 travel agency members in Spain, representing about 44 percent market share. In addition, nearly 1,000 hotels in Spain participate in the Pegasus Commission Processing service. Participating travel agencies in Spain outsource the collection and management of their hotel commissions worldwide to Pegasus and have the convenience of receiving all of their commission checks in euros regardless of hotels' location. Pegasus' detailed monthly reporting enables Spain-based agencies to track pre-paid travel agent vouchers on hotel bookings along with newly collected hotel commissions for a more complete picture of their lodging Lodging or holiday accommodation is a type of accommodation. People who travel and stay away from home for more than a day need lodging mainly for sleeping. Other purposes are safety, shelter from cold and rain, having a place to store luggage and being able to take a business volume. A sampling of Spain-based travel agencies participating in the Pegasus Commission Processing service includes:
TQ3 Spain Viajes Barcelo S.L. Viajes Ecuador
(Carlson Wagonlit)
Viajes El Corte Ingles Viajes Iberia S.A.
Viajes Marsans (BTI) Viajes Tejedor Viajes Vincit
A sampling of hotels in Spain participating in the Pegasus Commission Processing service includes:
Hotel Ritz Madrid Husa Bahia De Vigo Marriott Mallorca
Melia Las Palmas Silken Ciudad De Victoria
Hotel
"Pegasus' significant travel agency expansion in Spain reinforces the increasing importance of hotel commissions as a key revenue source for agencies in a tightened global economy," said Jeff Bzdawka, Pegasus Solutions' senior vice president of service delivery. "A global travel marketplace requires a global commission management solution, which Pegasus Commission Processing continues to successfully deliver. No other commission management service offers travel agencies worldwide access to the top hotel chains." Pegasus Commission Processing: How it Works Each month Pegasus collects hotel participants' actual guest stay information related to hotel bookings made by travel agents and travel Web sites that are members of Pegasus Commission Processing (formerly HCC HCC Hepatocellular Carcinoma (liver cancer) HCC Hertfordshire County Council (administrative region of south eastern England UK) HCC Harford Community College (Maryland) ). Pegasus consolidates all participating hotel properties' information and commission payments and sends detailed reports and a consolidated commission payment in the agencies' choice of currency to Pegasus' member travel agencies, which are located in more than 200 countries. Travel agencies can also elect to receive total automated au·to·mate v. au·to·mat·ed, au·to·mat·ing, au·to·mates v.tr. 1. To convert to automatic operation: automate a factory. 2. commission management through Pegasus' Electronic Reconciliation & Tracking service. Pegasus also maintains highly responsive customer service support for travel agencies, with more than 70 percent of queries serviced and resolved while agents are on the phone with Pegasus. Pegasus Commission Processing counts the majority of the world's travel agencies and 35,000 hotel properties among its subscribing members. For more information about Pegasus Commission Processing, travel agencies in the EMEA (Europe, Middle East, Africa) Refers to that region of the world. For example, one might see products packaged differently for the UK, EMEA and Asia Pacific markets. region can call 44 (0) 208 490 5837 or email memberinfo@pegs.com. Company Information 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 central reservation Noun Brit & NZ the strip that separates the two sides of a motorway or dual carriageway central reservation n (BRIT) (AUT) → mediana systems; electronic distribution services that connect more than 45,000 hotels to the Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the and to the global distribution systems (GDS GDS Global Distribution System GDS Google Desktop Search (Google) GDS Goodie Domain Service (Vienna University of Technology, Austria) GDS Guards ); 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(1); 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(2); 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. The statements made in this press release that are not purely historical are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and 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, variation in demand for and acceptance of the company's products and services and timing of sales, general economic conditions including a slowdown For articles with similar titles, see Slow Down (disambiguation). A slowdown is an industrial action in which employees perform their duties but seek to reduce productivity or efficiency in their performance of these duties. 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 Internal Operations (I.O., IO or I/O) is a fictional American Intelligence Agency in Wildstorm comics. It was originally called International Operations. I.O. first appeared in WildC.A.T.S. volume 1 #1 (August, 1992) and was created by Brandon Choi and Jim Lee. , the level of product and price competition from existing and new competitors, changes in the company's level of operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. 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 2001 Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. and Quarterly Reports on Form 10-Q Form 10-Q See 10-Q. filed since the Annual Report. (1) Travel Weekly, June 24, 2002, "Top 50 Travel Agencies" (2) Hotel Business, February 7, 2002, "The Top Hotel Brands" - ranked by total number of rooms (2001) |
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