Press Release: Pegasus Solutions, Inc.
July 12, 2002
DALLAS & ATLANTA -- Pegasus Solutions, Inc. (Nasdaq:PEGS) and The LastMinuteTravel® Network yesterday announced
an agreement for Pegasus to provide online hotel reservation capabilities for LastMinuteTravel.com®. Last-minute
travelers will now have the ability to find deals and make hotel bookings instantly at more than 44,000 hotels.
Dallas-based Pegasus Solutions is a leading provider of hotel industry transaction processing solutions and electronic
commerce services.
"We are pleased to have the opportunity to work with The LastMinuteTravel Network," said Gideon Dean,
senior vice president of sales, Pegasus Solutions. "The last minute travel segment is becoming an enormous
part of the overall travel marketplace and LastMinuteTravel is uniquely positioned to offer our hotel booking technologies
to their growing customer base."
The new and improved LastMinuteTravel Network is in phase one of its re-launch program. The new site design was
introduced on LastMinuteTravel.com on June 19, and additional enhancements, such as the new hotel booking feature
with Pegasus Solutions, will continue to be rolled out over the next 30 days.
"Over the next month consumers will find a new LastMinuteTravel.com that fulfills its proposition of being
the easiest place to both find and purchase affordable travel at the last minute," said Alan Greenberg, chairman
and CEO of The LastMinuteTravel Network. "The agreement with Pegasus is integral to our new site strategy
that allows us to offer instant access to the largest variety of hotel inventory, as well as an easy-to-use booking
feature right on the site," added Greenberg.
Pegasus' services will enable LastMinuteTravel customers to view detailed property information, rates and photos,
and secure instant real-time reservations 24 hours a day at hotels worldwide. More than 40% of the hotels in Pegasus'
Online Distribution Database(TM) are located outside the United States.
About Pegasus Solutions, Inc.
Through its customers and their affiliates, thousands of Web sites are Powered by Pegasus(TM). A sampling of online
travel agency sites Pegasus "powers" includes Travelweb.com, Orbitz, Expedia and Hotwire.com. Pegasus'
technology provides online travel sites with a reliable, less expensive alternative to using a global distribution
system for their online hotel bookings. According to industry analyst Forrester Research, online hotel sales are
expected to grow to $5.7 billion in 2004.
Dallas-based Pegasus Solutions, Inc. (www.pegs.com) is a leading global provider of hotel reservation technologies.
Its services include central reservations systems; electronic distribution services that connect more than 44,000
hotels to the Internet and to the global distribution systems (GDS); 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 tens of thousands
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 50 of the 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 22 offices in 16 countries, including regional hubs
in Phoenix, London and Singapore. The company's stock is traded on the NASDAQ National Market under the symbol
PEGS.
About The LastMinuteTravel® Network
The LastMinuteTravel® Network is comprised of the award winning LastMinuteTravel.com®. The site provides
the ultimate one-stop superstore for finding and buying travel offers at the last minute. Under the direction of
Alan Greenberg, who was appointed chairman and CEO in January 2002, The LastMinuteTravel Network is undergoing
a complete redesign of both technology and consumer offerings. The re-launch, which is now underway, is providing
new search and booking functionality, as well as a broader range of travel offers organized by destination and
activity. The LastMinuteTravel Network recently announced agreements with Cendant's RCI Holiday Network for LastMinuteTravel
Vacation Rentals, and an agreement with Priceline.com (NASDQ:PCLN) to create "Name Your Own Last Minute Price."
LastMinuteTravel reports that additional announcements with other key industry providers and suppliers are forthcoming
as it continues to expand its efficiencies and offerings to last-minute consumers.
Last Minute Travel® is a registered trademark, and LastMinuteTravel.com® and My Travel Minder(TM) are trademarks
of LastMinuteTravel.com, Inc. For additional Company information, please visit the site at: www.LastMinuteTravel.com.
1 Travel Weekly, June 25, 2001, "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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Contact:
Pegasus Solutions, Inc.
Karin Wacaser, 214/234-4129
karin.wacaser@pegs.com
or
LastMinuteTravel.com
Gayle MacIntyre, 404/495-2100
gmacintyre@lastminutetravel.com