StarCite Announces Exceptional 2005 Performance; Marquee Customer Wins, Increased Globalization, Enhanced Supplier Relationships and Strong Marketplace RFP Expansion, Drive Company Success.PHILADELPHIA -- Excellent Fourth Quarter Results Round Out Groundbreaking Year StarCite, Inc., the leading provider of On Demand Global Meeting Solutions(TM), today announced that its corporate user base had provided a groundbreaking $2 billion in unique revenue opportunities for hotels in 2005 and a company high of over $551 million in meeting RFP (Request For Proposal) A document that invites a vendor to submit a bid for hardware, software and/or services. It may provide a general or very detailed specification of the system. 1. (business) RFP - Request for Proposal. 2. opportunities in the fourth quarter alone. StarCite continued to show exceptional growth within its Online Marketplace, as commerce flowing through the marketplace grew a total of 42% in the fourth quarter of 2005 compared to the same quarter in 2004 and a total of 49% from the year-end of 2004 to 2005. For the second consecutive quarter, StarCite delivered more than 100,000 gross RFPs to hotels. At the close of the fourth quarter, StarCite was providing over $8.7 million worth of lead opportunities to its hotels in its database on a daily basis, up 69% from 2004. "The success that StarCite has seen in 2005 demonstrates the great value we are delivering to our corporate customers and to the supplier community," said Michael Boult, 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. of StarCite, Inc., Philadelphia. "As corporations increasingly recognize the power of strategic meetings management, we believe this is just the beginning. Meetings remain one of the great untapped areas of corporate spend management. With $300 billion spent annually on meetings, we expect 2006 to be a year of continued growth and expansion." StarCite added a number of new corporate customers in the fourth quarter, including Proctor & Gamble, Limited Brands and The Timken Company The Timken Company (NYSE: TKR) is a major manufacturer of tapered roller bearings and specialty steels located in Canton, Ohio. Their products are used in transportation, industrial equipment, electronics, mining and drilling, and in military applications. . The fourth quarter also saw the growth of existing corporate relationships. StarCite provided technology enhancements or expanded services with a number of major clients, including the American Cancer Society American Cancer Society, n.pr established in 1913, this national volunteer-based health organization is committed to the elimination of cancer through prevention and treatment and to diminishing cancer suffering through advocacy, scholarship, research, , Amgen, Bristol Myers Squibb, The Chubb Group and Gap, Inc. In the fall of 2005, the company also achieved an industry first when it announced a partnership with Uversa International, Inc., that gave clients the ability to aggregate corporate meetings and transient travel spend data together into one combined category. Increased Globalization globalization Process by which the experience of everyday life, marked by the diffusion of commodities and ideas, is becoming standardized around the world. Factors that have contributed to globalization include increasingly sophisticated communications and transportation of Corporate Deployments and International Development StarCite continues to build its presence around the world by providing its solutions to international clients and suppliers. In 2005, StarCite expanded its global technology and adoption management contract with Cisco Systems “Cisco” redirects here. For other uses, see Cisco (disambiguation). Cisco System,Inc. (NASDAQ: CSCO, HKSE: 4333 ) is an American multinational corporation with 54,000 employees and annual revenue of US $28.48 billion as of 2006. and its global management to the AsiaPacific with Motorola in 2005. In the fourth quarter, StarCite signed a new contract with John Deere Europe. These relationships further develop StarCite's prominence within the global meetings management industry. Enhanced Supplier Relationships In the fourth quarter, Carlson Hotels Worldwide properties announced a full deployment of MeetingBroker(TM) throughout all of its 905 properties in 69 countries leveraging StarCite's partnership with NewMarket International providing full two-way web services (1) Loosely, any online service delivered over the Web. Such usage appears in articles from non-technical sources, but not in IT-oriented publications, because definition #2 below describes the correct use of the term. integration with Meeting Broker(TM). StarCite also finalized an enhanced marketing agreement with a number of hotels within the Hilton Group PLC (Hilton International). StarCite sold its marketing solutions to the following convention and visitors bureaus: Atlantic City Atlantic City, city (1990 pop. 37,986), Atlantic co., SE N.J., an Atlantic resort and convention center; settled c.1790, inc. 1854. Situated on Absecon Island, a barrier island 10 mi (16. , Meet Aruba and the Emerald Coast For the area of Mexico's Gulf Coast, see Costa Esmeralda. The Emerald Coast (part of the area that is sometimes referred to as the Redneck Riviera) is an area in the US state of Florida on the coast of the Gulf of Mexico, roughly bounded by Pensacola, Florida on the . New destination marketing partners included: Welcome Touristic Praha (Czech Republic Czech Republic, Czech Česká Republika (2005 est. pop. 10,241,000), republic, 29,677 sq mi (78,864 sq km), central Europe. It is bordered by Slovakia on the east, Austria on the south, Germany on the west, and Poland on the north. ); Welcome Touristic Budapest (Hungary); Wallace Travel Group (Ireland); Eshet Incoming (Israel); JW Marriott Lima (Peru); Swedish Travel & Tourism Council (Sweden); Windsor Barra Hotel, Sheraton Barra Hotel & Suites (Rio de Janeiro Rio de Janeiro, city, Brazil Rio de Janeiro (rē`ō də zhänā`rō, Port. rē` thĭ zhənĕē`r ); and, Sterling Travel Associates (United Kingdom). StarCite Marketplace RFP Growth 2005 closed as a record-breaking year for StarCite's Online Marketplace with the number of gross RFP's facilitated rising 43% from the fourth quarter 2004 and the total for the year rose 47%. These RFPs provided nearly 1.78 million room night leads to hotels, resulting in an average of 150 nights per lead. For the year 2005, StarCite provided 6.5 million room night leads to suppliers in RFPs alone with an average of 152 nights per lead. About StarCite, Inc. StarCite, Inc. is the leading provider of On Demand Global Meeting Solutions(TM). StarCite optimizes global investments in corporate meetings and events delivering visibility, savings and control. StarCite provides process efficiency, enabling technology and proven adoption management support to drive significant cost reduction to buyers and enhanced revenues to suppliers. StarCite is based in Philadelphia. Investors in StarCite include Internet Capital Group (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : ICGE); Maritz Travel Company; Seaport Capital Seaport Capital is a New York City-based private equity fund that invests in media, communications & business and information services companies. Most of the properties they own are concentrated in medium and small markets, ranging from television stations to cable operators, as ; and TL Ventures. For more information about StarCite, or its technologies and services, please visit www.starcite.com. Products and services include: --StarCite GMS GMS Greater Mekong Subregion GMS Global Mobile (Communications) System GMS Guild Management System GMS General Medical Services GMS Global Management System (Sonicwall) GMS GroupWise Mobile Server (TM) - the integrated platform that powers StarCite's Global Meeting Solutions approach and five steps to guaranteed success - Plan, Budget, Buy, Attend and Measure. --StarCite Marketplace - the world's largest online meetings marketplace with $2 billion in revenue opportunities and 50,000 eRFPs. --StarCite Adoption Management - proven implementation, training, benchmarking, customer support, account management and outsourced services that help you target achievable savings and improve overall results. |
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