DALLAS (November 8, 2004) - Pegasus Solutions, Inc. (Nasdaq: PEGS) today announced the introduction of weekly commission payments from hotels to travel agents, planned for the first quarter of 2005. Pegasus’ industry-leading commission processing service, used by 35,000 hotels worldwide and the top 10 travel agencies in the U.S., processes an average of $40 million in hotel commissions each month. Dallas-based Pegasus Solutions is a global leader in providing technology and services to hotels and travel distributors.
Beginning in the first quarter of 2005, hotels that participate in Pegasus’ commission processing service will have the ability to process commission payments in the frequency of their choice - ranging from a weekly to a monthly basis. Member travel agencies are presently paid commissions on a monthly basis. Agencies that are members of Pegasus commission processing also receive detailed reports for easy reconciliation.
“Pegasus’ implementation of weekly commission payments will enhance our relationship with our most important distributors, travel agents,” said Fred Miller, vice president of global sales for Marriott International, Inc. “Marriott and Pegasus are equally committed to ensuring that agents are paid commissions in a timely manner, and now Pegasus is raising the bar by facilitating a more frequent process that benefits both hoteliers and travel agents.”
As part of this initiative, Pegasus is also enhancing
the benefits of agency membership by introducing new electronic deposit
options for payments to member travel agency customers in approved countries.
Currently, only U.S.-based agency members use direct deposit. This
feature will allow member travel agencies in the countries listed below
to significantly increase cash flow via weekly electronic deposits, while
simultaneously reducing banking charges typically incurred in the redeeming
of commission checks and drafts.
Bob Boles, executive vice president of sales and marketing for Pegasus, said: “Our team has been extremely diligent in making sure that our service continues to meet the needs of both our hotel participants and agency members. The increasing globalization of our customer base, coupled with today’s general expectation of immediate, electronic processes, drove us to develop enhanced systems for the future. With our new infrastructure, proven financial processes, and the obvious benefit of more efficient cash flow, we’re confident that both hotels and agencies will benefit from this transition in 2005.”
Pegasus’ customers include the majority of the world’s travel agencies in more than 200 countries. Of those agencies, Pegasus’ customers include eight of the top 10 agencies in the United Kingdom, nearly half of the agencies in Germany, and more than one third of agencies in the Asia-Pacific region. More information about Pegasus’ financial services is available online at www.pegs.com.
Dallas-based Pegasus Solutions, Inc. (Nasdaq: PEGS) is a global leader in providing technology and services to hotels and travel distributors. Founded in 1989, Pegasus’ customers include a majority of the world’s travel agencies and more than 50,000 hotel properties around the globe. Pegasus’ services include central reservation systems, electronic distribution services, commission processing and payment services, property management systems, and marketing representation services. The company’s representation services, including Utell by Pegasusä and Unirez by Pegasusä, are used by nearly 8,000 member hotels in 140 countries, making Pegasus the hotel industry’s largest third-party marketing and reservations provider. Pegasus has 17 offices in 12 countries, including regional hubs in London, Scottsdale and Singapore. For more information, please visit www.pegs.com
|Also See:||Pegasus Solutions Extends Hotel Commission Processing Contract with Hyatt Hotels & Resorts / October 2004|
|Asia’s Hard Rock Hotels Join Utell by Pegasus Portfolio for Global Marketing, Distribution and Representation Services / October 2004|
|Pegasus Solutions Expands Relationship with La Quinta via Commission Processing Services for Baymont Inns & Suites / September 2004|
|Pegasus Solutions Processing Travel Agent Commissions Worldwide for Hilton International / August 2004|
|Pegasus Solutions Speeds RFP Process for Utell by Pegasus Member Hotels Via Deployment of New Lanyon Technology / July 2004|
|Pegasus Solutions Providing Global Internet Distribution Services for Accor Hotels / June 2004|
|Pegasus Announces New Customers for PegsTour™ Service and New Agreements from Its Hotel Company Customers / June 2004|
|Pegasus Announces Plans for Newest Version of its NetBooker™ Booking Engine for Hotel and Travel Portal Web Sites / June 2004|
|Pegasus Solutions Providing Electronic Distribution Services to Seminole Hard Rock Hotel & Casino Properties in Florida; Automated Connectivity Delivers Real-time Reservations Via GDSs and the Internet / May 2004|