Press Release: Hospitality Partners I, Inc.
February 7, 2001
RALEIGH, NC -- Hospitality Partners I, Inc., formerly LastAvailable.com, announced it has secured $550,000 of bridge
financing through United National Bank of Fayetteville, NC. United National is owned by Omni Financial Services,
Inc. of Atlanta, GA. Steve Crowell, President of United National, stated, ``We are pleased to work with such a
solid management team and strong private investor base.''
``This bridge financing will take the company into the second quarter and allow us to fully integrate our technology
with NavigantVacations.com and start to generate revenues in March,'' said Gene Pease, CEO of Hospitality Partners
I, Inc. Additionally, Hospitality Partners has announced the addition of two new board members. Todd Tarbert, President
of FireVine, L.L.C. (dba NavigantVacations.com), joined the board of directors in early January. Tarbert served
as President and Chief Executive Officer of Seattle- based Destinations.com, Inc. Before joining Destinations.com,
he founded Synergies, Inc., a Seattle-based consulting and venture capital firm, specializing in start-up and growth-oriented
companies, including numerous Internet-based ventures.
Another recent board addition is Carl Nordgren, a founder or founding team member of eight North Carolina companies,
including BOPS, FGI, Sterling Cellular and CMS. In addition he was the former Chairman of DataFlux, which was eventually
sold to SAS.
``The addition of Tarbert and Nordgren to our board are tremendous assets. Their broad experience and knowledge
of start-up businesses, the internet and travel industries, as well as the investment community will prove invaluable
to our company. We are fortunate to have such successful entrepreneurs join our company,'' said Pease.
Hospitality Partners offers Tresetta Travel Technology(TM) (Tresetta(TM)), an online leisure travel solution that
includes proprietary inventory management, reservation, and auction software with connectivity to multiple travel
industry reservation systems.
SOURCE: Hospitality Partners I, Inc.