Press Release: Hotel Reservations Network
May 1, 2001
DALLAS, TX -- Hotel Reservations Network (Nasdaq: ROOM), the leading provider of discount hotel rooms worldwide,
yesterday announced that Mel Robinson, Chief Financial and Strategic Officer, will be presenting at the 29th annual
JP Morgan H&Q Technology Conference today at 3:00 p.m. PDT in San Francisco, California. A live broadcast and
subsequent replay of the presentation will be available through the JP Morgan H&Q website at http://www.jpmhq.com/events
.
Robinson will review highlights of the company's record first quarter results, which were released on April 23.
These highlights included first quarter net revenue growth of 91 percent and EBITDA growth of 94 percent. He will
also review management's revenue, EBITDA and cash EPS guidance issued in last week's earnings release.
Robinson will also provide an overview of the company's successful operating model, which has driven 94 percent
compound annual growth in revenues from 1996 to 2000 as well as expansion of the company's reach from 15 cities
at the end of 1996 to 135 cities at March 31, 2001.
Hotel Reservations Network, a majority-owned subsidiary of USA Networks, Inc.'s (Nasdaq: USAI) Information and
Services unit, is the number one consolidator of discount hotel accommodations worldwide, providing service through
its own websites ( www.180096hotel.com , www.hoteldiscount.com
, www.condosaver.com and www.travelnow.com
), more than 18,600 affiliated websites, and several toll-free call centers (1-800-96HOTEL). HRN provides travelers
with a one-stop shopping source for hotel pricing, amenities and availability. HRN also specializes in providing
travelers with accommodations for sold-out periods in major cities.
SOURCE: Hotel Reservations Network