| ORLANDO, FL., January 24, 2001 - Bertelsmann AG, the media conglomerate,
today announced it secured the remaining 30% of TRUST International from
SRS-WORLDHOTELS. Bertelsmann previously owned 70% of TRUST and increased
its participation to further develop its entry into the sophisticated reservation
and distribution service market for the hospitality industry. The
working relationship between TRUST and SRS WORLDHOTELS, its largest client,
will continue. The arrangement was effective December, 2000.
Financial terms of the transaction were not disclosed.
�Bertelsmann will be able to provide TRUST with its outstanding technology
support infrastructure and we are excited that we can now take full advantage
of Bertelsmann�s offerings,� commented Dr. Peter Agel, Managing Director
of TRUST. �The enhanced relationship will create synergies across
multiple platforms with additional Bertelsmann groups, such as its digital
media and distribution divisions. TRUST will also gain a competitive
advantage previously non-existent in the travel services industry.�
In recent years, TRUST International has developed
new alliances in the e-commerce sector, including the development of Internet-based
products for the hospitality industry, business traveler and consumer.
For example,
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TRUSTRes provides hotel chains with the ability to manage their own real-time
reservation center.
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INNXS.com connects hundreds of individually run hotels with Internet sites.
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CORDIRA.com is a real-time, online Internet/Intranet based booking system
for corporations.
In addition to Bertelsmann�s enhancement of TRUSTs� products, the new terms
of the relationship with SRS WORLDHOTELS will remain consistent with the
original service agreement and will become even more dynamic in the years
ahead. SRS-WORLDHOTELS, which offers real-time reservations through its
Web site, allows users to make reservations at its properties with instant |
| It is no longer possible for hotels to remain successful
on the market place on a day to day basis using only classical sales.Receiving
reservations via fax, mail or telephone is becoming increasinlgy out-dated,
but for independent hotels and guests houses this is often the only solution
without investing in high cost in GDS connections.
However, independent hotels, bed & breakfasts, inns,motels,
guests houses and the like, are now offered with a viable reservation
solution from INNXS.com. INNXS.com offers the first easy-to use, on-line,
reservation system, without complicated technology, time consuming manpower
or costly fees.
Do you fit to the following profile:
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Is a GDS connection not financially viable for you?
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Are you a hotel, inn, guest house or B&B that has over
15 rooms?
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Do you have a computer?
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And the internet?
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Would you like to maintain your independence?
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Would you like to increase your room production?
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Would you like to be present internationally?
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Would you like to be a step ahead of your competitors?
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confirmation. �SRS-WORLDHOTELS will concentrate on its core business
of sales and marketing, enabling us to expand internationally and invest
in global sales,� said Reinhard Przybilski, Managing Director of SRS-WORLDHOTELS.
About TRUST International
TRUST International is fully-owned by the media giant Bertelsmann.
TRUST develops and implements a state-of-the-art central reservation system,
providing tailor-made, real-time reservations and global distribution solutions
for the hospitality industry. TRUST services provide real-time solutions
that seamlessly connect hotels and bookers worldwide, including private
label telephone lines, connectivity to all Airline Reservations Systems
and to various websites and Internet platforms. TRUST maintains three
offices worldwide including the Headquarters in Frankfurt, the Americas
office in Orlando, Florida, and a reservations center in Singapore.
Among TRUST�s clients: some 1,300 hotels at 685 destinations in 95 countries
such as SRS-WORLDHOTELS, Four Seasons Hotels & Resorts, Steigenberger
Hotels & Resorts, Pan Pacific Hotels & Resorts, Kempinski Hotels
& Resorts, Dorint Hotels & Resorts, Mövenpick Hotels &
Resorts, Mandarin Oriental Hotel Group, Preferred Hotels & Resorts,
Swissôtel, Oberoi Hotels, Astron Hotels, and Small Luxury Hotels
of the World.
About Bertelsmann
As the world�s most international media enterprise, Bertelsmann commands
leading positions in the global media and entertainment industries. The
Bertelsmann Group consists of publishing and music companies, book and
music clubs, magazines and newspapers, television and radio stations, print
and media service providers, multimedia and professional information companies
represented by such brands as Random House, BMG, Gruner + Jahr and RTL.
Bertelsmann is the world�s largest general-interest publisher and the biggest
English-language publishing house worldwide. Bertelsmann book and music
clubs are number one worldwide. Through RTL Group and Gruner + Jahr, the
company ranks first in the European broadcasting and magazine sectors,
respectively. Bertelsmann is the worldwide leading media company in the
internet, and top ranking in its peer market in e-commerce with BOL in
Europe and barnesandnoble.com in the US. The organization currently employs
76,000 people in 54 countries and posted 32,4 billion DM in total revenues
in the 1999/00 financial year ended June 30, 2000.
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