CheapestDeals.com Taps Pegasus Solutions for Internet Distribution of Discount Hotel Rooms.Business Editors DALLAS & SAN FRANCISCO--(BUSINESS WIRE)--Oct. 24, 2000 Pegasus Solutions Steps Up Role in Facilitating Selling of Last-Minute Discount Hotel Rooms Dallas-based Pegasus Solutions, Inc. (Nasdaq:PEGS) today announced CheapestDeals.com, Inc. is making its distressed hotel inventory and discounted rates available through Pegasus' Online Distribution Network of third-party travel Web sites, such as TravelWeb.com, TravelHero.com and TravelNow.com. CheapestDeals.com is an Internet discount consolidator headquartered in the San Francisco Bay area “Bay Area” redirects here. For other uses, see Bay Area (disambiguation). The San Francisco Bay Area, colloquially known as the Bay Area or The Bay . Pegasus Solutions is a leading provider of hotel industry transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. solutions and electronic commerce services. Pegasus is electronically interfacing its Electronic Distribution Switch with CheapestDeals.com's hotel rate and inventory database, which currently houses discounted inventory from more than 4,000 branded and independent hotel properties in 820 cities in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Canada, Mexico and Europe. This connectivity will enable CheapestDeals.com to make its specially priced rooms accessible to consumers booking travel through any of the third-party travel Web sites Powered by Pegasus(TM). According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. John F. Davis John F. Davis (July 11, 1907 – July 18, 2000) was an American lawyer and law professor whose career included ten years of service as Clerk of the Supreme Court of the United States. III, Pegasus Solutions' president and chief executive officer, Pegasus' entree into the discount inventory arena is a natural one. "Our central position within the global hotel industry makes us the perfect resource for maximizing the distribution of hotel inventory, regardless if rooms are being sold at retail or discount prices," Davis said. "Our technology arrangement with CheapestDeals.com is a prime example of how hotel marketers can immediately and economically gain worldwide exposure and capture not only the advanced online 'bookers' of travel but also the online 'dodgers,' who typically go for best-price scenarios." CheapestDeals.com President Mark Merani commented, "We have developed a comprehensive offering that provides the least expensive rates from each hotel. Most hotels use our service to sell during times when their retail channels are not able to fill the hotel rooms. This is why they are able to guarantee their lowest price. "As one of the largest consolidators of hotel rooms in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , we signed with Pegasus to get more consumer 'eyeballs' -- that is, more online travelers having access to our special offers. We've pre-shopped the Web sites affiliated with Pegasus and are confident we bring the best price points to the table, thus adding value to Pegasus' affiliate Web sites seeking to expand the discount inventory available through their sites." Through its customers' affiliates, more than 1,000 Web sites are Powered by Pegasus(TM), providing detailed property information, photographs and real-time reservations at thousands of hotels. According to industry analyst Forrester Research Forrester Research is an independent technology and market research company that provides its clients with advice about technology's impact on business and consumers. Corporate facts
Company Information San Francisco Bay San Francisco Bay, 50 mi (80 km) long and from 3 to 13 mi (4.8–21 km) wide, W Calif.; entered through the Golden Gate, a strait between two peninsulas. area-based CheapestDeals.com, Inc. (www.cheapestdeals.com) was formed in March 1999 and began Web operations Web operations is a domain of expertise within IT systems management that involves the deployment, operation, maintenance, tuning, and repair of web-based applications. With the rise of web technologies since mid-1995, specialists have emerged that understand the complexities of in June 1999. Privately held, CheapestDeals.com guarantees to offer its member customers the best prices on all types of products that have been overproduced, as well as on last-minute distressed hotel inventory. CheapestDeals.com is the discount segment of HotelQuest Distribution Network (www.hotelquest.com) featuring over 4,000 hotel products worldwide. The company offers hotels real-time control Real-time control is a popular term for a certain class of digital controllers. For effective digital control, it is critical that sample time be constant. Real-time control achieves nearly constant sample time. See also
Dallas-based Pegasus Solutions, Inc. (www.pegs.com) is a leading provider of end-to-end reservation distribution solutions to the hotel industry worldwide. Its services include central reservation 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; third-party marketing and reservation representation services, including Utell, Summit Hotels & Resorts, Golden Tulip Worldwide, and Sterling Hotels & Resorts; electronic distribution services that connect more than 36,000 hotels to the Internet 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 ); commission processing and payment services; the consumer travel Web site TravelWeb.com (www.travelweb.com); and data warehousing See data warehouse. data warehousing - data warehouse and database marketing and consulting services Noun 1. consulting service - service provided by a professional advisor (e.g., a lawyer or doctor or CPA etc.) service - work done by one person or group that benefits another; "budget separately for goods and services" . Pegasus' customers comprise more than 100,000 travel agencies around the world, including nine of the 10 largest U.S.-based travel agencies(1); approximately 38,000 hotel properties around the globe, including 18 of the 20 largest hotel companies in the world based on revenues and total number of guest rooms(2); and more than 180 Web sites/services have contracted to have their hotel reservations Powered by Pegasus(TM). In addition to its corporate headquarters in Dallas, Pegasus has 39 offices in 25 countries, including regional hubs in Phoenix, London and Singapore. The company's stock is traded on the Nasdaq National Market under the symbol PEGS. This statement contains references to future events and projected results, including anticipated transactions involving the Company and its service offerings. There can be no assurance that the referenced future events or projected results will actually occur or that the future financial performance of the Company will be as projected. Actual occurrences, results and performance may differ substantially and materially from those projected as a result of risks and uncertainties mentioned in this statement or detailed in the Company's periodic reports and registration statements filed with the Securities and Exchange Commission including its 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. for the year ended December 31, 1999, and its Forms S-4 (File No. 333-92683) that was declared effective March 31, 2000. 1 Travel Weekly, June 26, 2000, "Top 50 Travel Agencies" 2 Business Travel News, May 29, 2000, "The Top Hotel Companies" |
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