Press Release: TravelCLICK
September 18, 2002
CHICAGO, IL -- Richard W. Gray, chairman and co-CEO of TravelCLICK, yesterday announced a new partnership through
which Blackstone Real Estate Advisors, an affiliate of The Blackstone Group ("Blackstone"), will be extending
the use of TravelCLICK's electronic marketing products and competitive intelligence tools across all of its owned
hotel properties.
This represents TravelCLICK's first partnership with a hotel ownership group. As a result of the proliferation
of options and choices within the past year for electronically distributing hotel rooms, ownership groups have
of late become more actively involved in managing net revenue from electronic channels.
Blackstone owns The Savoy Group, five luxury hotels located in the UK; Homestead Studio Suites, 112 extended stay
hotels located throughout the US; the Westin St. Francis in San Francisco; the Hyatt Maui Resort in Hawaii; the
Hyatt Regency in Bethesda, MD; and The Watergate Hotel in Washington D.C. Blackstone also has part ownership of
Libertel Hotels and several Sofitel properties in Europe.
The Savoy Group, already a TravelCLICK client, was recognized as an "e-Marketer of the Year" finalist
at the HSMAI Annual Conference in January 2002. Their hotels more than doubled GDS bookings in the past two years,
thereby significantly increasing their revenues from electronic channels and their operating profits.
"Blackstone has realized that proactively managing business from the electronic marketplace significantly
enhances the bottom line and the value of its hotel assets. TravelCLICK's unique electronic marketing tools, combined
with the expertise of its field people, invariably translate into improved performance in the rapidly growing electronic
channels," said Gray.
Within this partnership, each Blackstone-owned property will be able to utilize TravelCLICK for electronic distribution
advice, personalized business reviews, e-marketing strategies and tactics, and preferred pricing on TravelCLICK's
competitive intelligence and media products.
"Blackstone is committed to extending the example set by The Savoy Group to all of our owned hotel properties,"
said John Ceriale, Blackstone's Hotel Advisor. "We work closely with our hotel managers to ensure the best
net revenue performance of our properties, and TravelCLICK's products and people are essential in that regard.
The results have been impressive."
"We are delighted to provide our electronic marketing tools and on-site consultative support to such a leading
ownership group as Blackstone," said Ray Cohen co-CEO of TravelCLICK. "Industry leaders are leaders because
they embrace and adopt proven best practices early on. That is certainly the case here with Blackstone."
About TravelCLICK
TravelCLICK (www.travelclick.net) is the leading provider of solutions that help hotels and other travel industry
suppliers improve revenue from electronic distribution channels. TravelCLICK's exclusive electronic marketing networks
allow hotels and other travel related suppliers to target promotional messages to specific travel agents, consumers,
and group meeting planners when they are booking travel. The company's competitive benchmarking reports provide
hotels with price and booking performance information unavailable through any other source. Established in 1996
and headquartered in the Chicago area, TravelCLICK operates in more than 140 countries around the world. The company
has over 6,000 clients, including national and international companies such as Accor, Air France, Avis, Best Western
International, British Airways, Choice Hotels, Fairmont Hotels & Resorts, Four Seasons Hotels & Resorts,
Grupo Posadas, Hilton Hotels Corporation, Hyatt Hotels & Resorts, Kempinski Hotels & Resorts, Leading Hotels
of the World, Loews Hotels, Lufthansa, Marriott International, The Peninsula Group, Radisson, The Ritz-Carlton
Hotel Company, SAS, The Savoy Group, Shangri-La Hotels, Sol Melia, Starwood Hotels & Resorts, Thistle Hotels,
USAirways, Virgin Atlantic and Wyndham Hotels & Resorts.
About The Blackstone Group
The Blackstone Group, a private investment bank with offices in New York and London, was founded in 1985. Blackstone's
Real Estate Group has raised four funds representing approximately $4 billion in total equity, and has made more
than 110 separate investments in hotels, offices and other commercial properties with a total transaction value
exceeding $13 billion. In addition to real estate, The Blackstone Group's core businesses include Mergers and Acquisitions
Advisory, Restructuring and Reorganization Advisory, Private Equity Investing, Corporate Debt Investing, and Liquid
Alternative Asset Management. Additional information about The Blackstone Group is available at www.blackstone.com
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Contact:
TravelCLICK
Kristina Paider, 847/585-5238
kpaider@travelclick.net
Source: TravelCLICK