Portland Oregon Visitors Association Web Site ``Powered by Pegasus;'' Pegasus Solutions Provides Internet Hotel Reservations Capabilities for Portland-Bound Travelers.Business Editors DALLAS & PORTLAND, Ore.--(BUSINESS WIRE)--Aug. 14, 2000 Pegasus Solutions, Inc. (Nasdaq:PEGS PEGS polyethylene glycols used as drug solvents. ) today announced it is "powering" the Portland Oregon Oregon, city, United States Oregon, city (1990 pop. 18,334), Lucas co., NW Ohio, a suburb adjacent to Toledo, on Lake Erie; inc. 1958. It is a port with railroad-owned and -operated docks. The city has industries producing oil, chemicals, and metal products. Visitors Association's (POVA POVA Portland Oregon Visitors Association POVA Protection of Vulnerable Adults (social care) POVA Piston-Operated Volumetric Apparatus ) new online hotel reservation capabilities for Portland-bound travelers. POVA is tapping Dallas-based Pegasus Solutions' online hotel booking engine and database of hotels to facilitate hotel reservations on POVA's Web site, www.travelportland.com. 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. POVA's new offering enables consumers to make real-time 1. real-time - Describes an application which requires a program to respond to stimuli within some small upper limit of response time (typically milli- or microseconds). Process control at a chemical plant is the classic example. , secure hotel reservations at 51 Portland-area properties via the bureau's Web site, www.travelportland.com. Travelers also can make hotel reservations through POVA's toll-free reservation/information hotline, 1.87.PORTLAND (1.877.678.5263). POVA's online hotel reservation system also is playing a major role in the Portland "Big Deal" promotional rate program, the bureau's off-season (Nov. through May) hotel package offering. Pegasus' technology enables POVA to make hotels' negotiated "Big Deal" rates only available on the POVA Web site. "We've added this new online system in response to our visitors who have less time and are eager to book instantly over the Internet," said POVA President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Joe D'Alessandro. "It's just another step forward in our continued goal to make sure we're offering our clients cutting-edge technology and easy options for booking Portland." POVA's online program gives consumers the ability to efficiently shop, compare room rates, query room availability, view hotel photos, make secure reservations and receive a confirmation in seconds. Pegasus is providing POVA's system with direct connections to hotels' 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 and provides similar online booking capabilities for the Web sites of convention and visitors bureaus in Dallas (www.dallascvb.com) and St. Petersburg/Clearwater (http://www.floridasbeach.com/book1-search.html). More than 181 Web sites/services have contracted with Pegasus to have their hotel reservations "Powered by Pegasus(TM)," including Expedia.com, the UK's Travelstore.com, and Japan's Recruit Isize Travel (www.isize.com). During 1999, Pegasus processed Internet hotel bookings worth an estimated $500 million in room sales. Company Information 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 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 34,000 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 36,000 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 181 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 results, including anticipated transactions involving and services to be offered by Pegasus Solutions. These statements 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. regarding future events and the future financial performance of the company and no assurances can be made regarding their eventual occurrence. Actual occurrences and results may differ substantially and materially from those projected as a result of risks and uncertainties 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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