| SEATTLE, Aug. 31 - Rezworks (Reservation Works, LLC), owner
of VacationSpot.com (http://www.vacationspot.com),
an online service for finding and booking vacation rental properties around
the world, today announced the acquisition of the award-winning World Wide
Travel Exchange (http://www.wwte.com),
one of the most frequently used vacation sites on the Internet, for an
undisclosed sum.
The acquisition will combine the two services as VacationSpot.com, making it the Internet's most widely-used source of vacation rental properties with more than 10,000 visitors per day and more than two million property pages viewed monthly. Soon to be the largest segment of online retail purchasing, online travel sales are forecast to grow to $11.7 billion by the year 2002, according to Jupiter Communications. VacationSpot.com makes it easy for leisure travelers to select and reserve
the right vacation "We're working to make VacationSpot.com the most popular way to find and book vacation rental properties around the world," said Steve Murch, president and CEO of Rezworks. "By acquiring World Wide Travel Exchange _- which has been in the online vacation business for more than three years - we have dramatically broadened the number of properties available to travelers through VacationSpot.com. For property managers and owners, this means a huge increase in the number of potential customers viewing their listings." About Rezworks Rezworks (Reservation Works, LLC) (http://www.rezworks.com)
is a Seattle- based company focused on delivering the most convenient,
cost-effective and comprehensive travel reservations technology available.
Founded by Steve Murch and Greg Slyngstad, both recognized technology veterans
and former Microsoft executives, Rezworks launched its first service, VacationSpot.com
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property
from a broad selection of options. It offers detailed listings with photographs
of more than 4,000 properties, and profiles over 30,000 units including
vacation rental homes, resort condominiums, suite hotels, villas, cabins
and bed breakfasts. VacationSpot.com is the premier provider of vacation
rentals for Microsoft Expedia.