Services to Prominent Hotel Chain
DALLAS (October 18, 2004) - Pegasus Solutions, Inc. (Nasdaq: PEGS) announced the signing of a multi-year contract extension with Hyatt Hotels & Resorts. Under the agreement, Pegasus will continue providing commission processing and electronic distribution services through June 2007 to Hyatt Hotels & Resorts in the U.S. Dallas-based Pegasus is a leading worldwide provider of hotel reservations-related services and technology.
“Pegasus has driven innovations in multiple hospitality industry services for 15 years, and we’re pleased to extend this mutually beneficial relationship,” said Chris Elam, vice president of revenue management at Hyatt. “In particular, our participation in Pegasus’ commission processing services continues to enhance our standing with travel agents, a critical component of Hyatt’s everyday success.”
Pegasus’ ability to efficiently consolidate and distribute commission payments in 22 different currencies is critical for Hyatt as it expands the marketing of its properties to more international travel agencies. With increased automated flexibility to handle currency issues and payment schedules, Pegasus delivers timely agency payments on Hyatt’s behalf while minimizing back-office paperwork.
Eight of the world’s top 10 hotel companies, including Hyatt, participate in the Pegasus commission processing service. Hyatt has participated in the Pegasus commission processing service since its inception in 1992. The Pegasus service handles the centralized processing and consolidated payment of commissions to Pegasus member travel agencies worldwide on behalf of all Hyatt properties. As an added service to Hyatt, Pegasus is also processing commission payments to travel agencies that are not members of Pegasus’ commission processing service.
More than 35,000 hotels worldwide participate in the Pegasus commission processing service, enabling the efficient payment of hotel commissions to Pegasus’ member travel agencies. Pegasus counts the majority of the world’s travel agencies in more than 200 countries among its subscribing members.
Pegasus consolidates the Hyatt hotel information and commission payments with similar information and payments from other Pegasus participating hotels. Pegasus then sends detailed reports and a consolidated commission payment in the agency member’s choice of currency.
“Hyatt has been a valuable client since Pegasus opened its doors,” said Bob Boles, executive vice president of sales and marketing at Pegasus Solutions. “Their continued use of our electronic distribution and financial services validates our standing as an industry leader in these categories. We look forward to Hyatt’s input as we enhance these mission critical services for both large chain hotels and independent properties.”
About Pegasus Solutions
About Hyatt Hotels & Resorts
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