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Loews Loves Agents
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Pegasus to Offer Commission Processing
to Full 18-Property Portfolio
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DALLAS and NEW YORK (May 20, 2008) – New York-based Loews Hotels has extended its relationship with Pegasus Solutions for Pegasus Commission Processing, expanding services to all 18 hotels in the Loews portfolio. Previously, Loews, which is renowned for its innovative and successful travel programs, had tapped Pegasus for only two properties.

Loews opted to both renew and add 16 hotels to reap the rewards of fast payment processing realized by two properties during the previous contract, according to Zack Miller-Murphy, vice president and controller, Loews Hotels.

“Agents like to get paid, and they like to get paid on time,” said Miller-Murphy. “It’s really that simple. Rather than renew and give only two properties this advantage with Pegasus Commission Processing, we opted to expand the contract to all of our hotels so they can each have a successful travel agent program as well. For us, travel agents are valued partners, and it’s our duty to do what’s best for them – to work with Pegasus.”

The proven choice of agents, Pegasus Commission Processing streamlines commission payments for hotels and suppliers, and facilitates collections for travel agents. Processing more than $500 million in commissions each year, Pegasus delivers agents regularly scheduled, consolidated payments in their preferred currency. In fact, a 2007 survey of agents showed more than 85 percent would prefer to book a hotel that pays commissions through Pegasus than a hotel using another payment provider. Mark S. Dubrow, president of Pegasus Financial Services said this agent preference has helped build both the Loews brand and the Pegasus relationship.

“Pegasus is proud of its long association with industry innovator Loews Hotels,” said Dubrow. “The Pegasus team is eager to continue helping Loews break through with commission solutions that allow them to concentrate on their core business of delighting guests and rewarding agents.”

Pegasus provides commission services to more than 35,000 properties, as well as the majority of the world’s travel agencies and travel distributors in more than 200 countries. 

About Loews Hotels
Headquartered in New York City, Loews Hotels owns and/or operates 18 hotels and resorts in the U.S. and Canada as a subsidiary of Loews Corporation (NYSE:LTR). Located in major city centers and resort destinations from coast to coast, the Loews portfolio features one-of-a-kind properties that go beyond Four Diamond standards to delight guests with a supremely comfortable, uniquely local and vibrant travel experience. Loews boasts some of the industry’s most innovative and successful travel programs, including Loews Loves Kids for families and Loews Loves Pets for discerning animals on the road. For more information on Loews Hotels, call 1-800-23-LOEWS or check www.loewshotels.com

About Pegasus
Dallas-based Pegasus Solutions, Inc. 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 86,000 hotel properties around the globe. Pegasus’ services include central reservation systems, electronic distribution services, commission processing and payment services, and marketing representation services, including the consumer Web site, www.hotelbook.com. The company’s representation services, including Utell® Hotels & Resorts and Unirez by Pegasus™, are used by more than 9,300 member hotels in more than 130 countries, making Pegasus the hotel industry’s largest third-party marketing and reservations provider. Pegasus has 18 offices in 11 countries, including regional hubs in London, Singapore and Scottsdale, Arizona. For more information, please visit www.pegs.com.


 
Contact:

Ariel Herr for Pegasus
1 (214) 890-7912
aherr@fortepr.com

Emily Kanders Goldfischer
 Loews Hotels
 +1 212-521-2833
 egoldfischer@loewshotels.com
 

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