Under the agreement, Pegasus Commission Processing will process Leading Hotels� travel agent commissions under the SureCheck, Inc. brand. All members of Leading Hotels� Sure Check program are expected to be enrolled in Pegasus� service by the end of this year. In 2000, Leading Hotels will offer the service to the remainder of its hotel members on a property-by-property basis.

Each month, Pegasus Commission Processing will collect from participating hotels the actual guest stay information related to the bookings made by travel agents. After consolidating the information and commission payments from all of its hotel customers, Pegasus will send a monthly payment to travel agencies around the world. Pegasus sends payments in the agents� choice of currency along with detailed commission reconciliation information by hotel brand to agencies that subscribe to Pegasus� service. 

Leading Hotels is one of the hotel industry�s most prestigious sales and marketing reservations organizations, providing its hotel members in 68 countries with support to facilitate and increase reservations and enhance worldwide visibility. Leading Hotels is connected to the Pegasus Electronic Distribution system, allowing bookings from travel agents through the Global Distribution Systems and consumers via the Internet. Representing 315 of the world�s finest luxury resorts and hotels, Leading Hotels members include the Gstaad Palace Hotel in Switzerland; Hotel Cipriani in Venice, Italy; and the Hotel de Crillon and Hotel Ritz in Paris.

According to Lee Andrews, chief financial officer of The Leading Hotels of the World, Ltd., the agreement with Pegasus allows Leading Hotels to enhance its service offerings to its hotel members. �We wanted to provide our members, representing some of the finest hotels in the world, with the most comprehensive commission processing service available to the industry. Through our agreement with Pegasus, we are now able to offer our hotel members the necessary tools to streamline their operations and provide a higher level of service to the travel agent community. In addition, we are able to offer our hotel members the ability to fund commission payments in 28 different currencies, which is critical since they are located all over the world,� Andrews said.  According to Jeff Bzdawka, senior vice president of Pegasus Commission Processing, �With an average daily rate in excess of $300, Leading Hotels is a significant addition to our hotel roster, making our service even more appealing to travel agents around the world.�

Based in New York, The Leading Hotels of the World, Ltd. is a prestigious marketing, sales and reservations organization representing 315 of the world�s finest luxury hotels.  Requirements for becoming a member of The Leading Hotels of the World dictate that a hotel must meet the highest industry standards of excellence with respect to service, physical structure, management, cuisine and all aspects of guest comfort.  Every year, an annual directory of members is introduced to the travel trades and to consumer clients.  Other services include extensive sales and marketing activities, advertising, public relations, loyalty programs and targeted promotional events.  Headquartered in New York City, The Leading Hotels of the World, Ltd.  maintains 18 regional offices and reservations centers worldwide.

Pegasus Commission Processing (http://www.hccnet.com) (formerly the Hotel Clearing Corp.) offers a hotel commission processing service that Dallas-based Pegasus Systems, Inc. established in 1992. More than 83,000 travel agency locations in 207 countries, including seven of the top 10 U.S. travel agencies, rely on Pegasus for the collection, processing and consolidation of commission payments due them from hotels. In total, more than 70 hotel companies participate, representing more than 24,000 contracted properties in over 159 countries. Monthly, Pegasus processes more than $25 million in hotel commissions.

Pegasus Systems, Inc. (http://www.pegsinc.com) provides electronic commerce and transaction processing solutions to hotels, travel agencies, meetings and convention planners, corporate travel departments and Internet businesses worldwide, as well as operates its own consumer travel reservations site, TravelWeb.com (http://www.travelweb.com).