"We have seen a significant impact on the hotel industry since the Internet emerged nearly eight years ago -- and Six Continents Hotels has been instrumental in this tremendous growth," said Eric Pearson, vice president of E-commerce for Six Continents Hotels. "From the Internet's starting point in 1995, it took us just two years to book one million dollars in revenue from online reservations. Last January, we booked a million dollars in a single day.  And earlier this year, we passed another major milestone -- $2 million booked in a single day direct to our Web sites." 

One of the most important elements in the success of Six Continents Hotels Internet bookings has been the company's industry-leading Lowest Internet Rate Guarantee. The Guarantee promises if a consumer finds on the Internet a lower rate publicly viewable and bookable on another Web site for the same hotel and accommodations for the same dates and finds it within 24 hours of making his or her reservations, Six Continents Hotels will honor the lower rate plus give an additional 10 percent discount, upon its verification of the rate by Six Continents Hotels. Since its launch in May, some critics have accused the Guarantee of starting a price war and dwindling profit margins. A six-month review proves differently. 

According to initial highlights: 

• Revenue growth for Six Continents Hotels' Internet bookings have shot up 80 percent over last year -- compared to Internet bookings in general, which averaged 40 percent; 

• Hotels are regaining control of their inventory and capturing the margins that would have otherwise gone to the wholesalers; 

• Challenges to the Guarantee average about 1 out of 1,000 bookings, or less than 1/10 of one percent of people who book on the Internet confirming Six Continents Hotels' pricing is the best available. 

Continued Pearson, "Clearly there is a great opportunity and potential with the Internet, and our goals for 2003 reflect the enormous upside this channel represents." 

Six Continents Hotels Internet objectives for 2003 include: 

• Growing Internet direct revenue over 40% by continuing to offer new products and services, such as last-minute getaway packages and top destination Web sites featuring Six Continents Hotels; 

• Driving demand for the brand Web sites by expanding geographical reach with regional sites available in multiple languages, offering targeted online promotions, and taking stronger actions to bias Internet search engines so that consumers are not hijacked to third-party web wholesalers; 

• And ensuring that all Six Continents Hotels properties are maximizing the benefits of the Internet by instituting new training courses for hoteliers, which cover pricing, positioning, and prospecting on the Internet, including ways to maximize the benefits of the Rate Guarantee. 

Six Continents Hotels is a leading global hotel group whose brands include InterContinental Hotels & Resorts, Crowne Plaza Hotels and Resorts, Holiday Inn, Holiday Inn Express and Staybridge Suites. Six Continents Hotels owns, operates or franchises more than 3,300 hotels and over 515,000 guest rooms in nearly 100 countries and territories around the world. 

Six Continents(SM) Hotels, the hotel business of Six Continents PLC of the United Kingdom (ADRs), owns, operates or franchises more than 3,300 hotels and 515,000 guest rooms in nearly 100 countries and territories.