| NEW YORK, Dec. 5, 2000 - Site59.com, named for the 59th minute, and
the trendsetter for spontaneous travel and entertainment solutions, announced
today that it has partnered with Starwood Hotels and Resorts Worldwide,
Inc. (NYSE: HOT), which will provide a wide array of last-minute inventory
to Site59 for all Starwood properties�including the Sheraton, Westin, Luxury
Collection, St. Regis, Ciga, Four Points by Sheraton and W brands.
Site59 has also completed a $3 million financing agreement with Starwood
Hotels & Resorts and Advanta Growth Capital. This agreement comes on
the heels of an investment round of $10.5 million in financing from a group
of strategic investors led by iFormation, along with Accor, Bass Hotels
and Resorts®, and National Leisure Group.
 �These
new agreements reflect the growing confidence that leaders in travel and
leisure have in our business model and our prospects for future growth,�
says Site59.com CEO Michelle Peluso. �We are thrilled about the diverse
Starwood inventory, which gives Site59 guests great new choices�and even
more excuses to get away,� continued Peluso.
| As a Site59.com partner, Starwood Hotels &
Resorts properties will be featured as a component of travel packages made
available for purchase through Site59.com. Site59.com works with
more than 500 partner suppliers to distribute discounted last-minute inventory,
assembling out-of-the-ordinary travel and entertainment packages through
TRACE, Site59�s patent-pending, dynamic packaging technology.
�This partnership helps us build incremental sales to the large segment
of travel and leisure consumers who buy spontaneously,� says Drew Patterson,
Manager Business Development of Starwood Hotels & Resorts. �Only
Site59 has demonstrated the know-how to market distressed inventory in
a way that meets both supplier and consumer needs,� continued Mr. Patterson.
Advanta Growth Capital�s Bryan Finkel, Managing Director said, �Site
59�s cutting edge technology is a source of major competitive advantage
in the industry and we are very excited about our new relationship.�
In addition to its consumer web site for creative and value-oriented
last-minute getaways, Site59 boasts a robust ASP and affiliate offering
with large corporations and strategic partners, through which partner companies
can offer dynamic last-minute packages to their customers. |
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SITE59.COM SIGNS PARTNERSHIP
DEAL WITH BASS HOTELS & RESORTS
NEW YORK, NY�June 8, 2000 ... Site59.com, today announced
a partnership with Bass Hotels & Resorts to supply a wide range of
hotel products for Site59.com�s �Getaways.� Offering great value at the
last minute, Site59.com�s Getaways are inspiring pre-packaged weekend and
long-weekend offerings from major U.S. gateway markets, compiled for busy
consumers who are long on life and short on time. As a Site59.com
partner, Bass Hotels & Resorts will provide select inventory from its
Inter-Continental, Crowne Plaza, Holiday Inn, Holiday Inn Express and Staybridge
Suites by Holiday Inn as a component of travel packages available for purchase
through Site59.com.
Site59.com provides new content everyday to consumers
on a rolling 7-14 day window.
�With Bass Hotel & Resorts� wide range of properties
worldwide, we are enhancing our already solid and growing roster of spur
of the moment travel offerings.
Bass Hotels & Resorts is the first major hotel company
to sign an agreement with Site59.com since its inception in March of 2000.
Site59.com works with suppliers to distribute last-minute
discounted inventory without brand erosion by creating packages by mood,
all assembled electronically with TRACE, a patent-pending, scalable operating
platform.
�Bass Hotels &Resorts is running an aggressive action
program of e-commerce development, tailored by market segment. This
partnership with Site59 contributes to our strategy very well. Their
business model - innovative marketing to last-minute impulse leisure buyers
- will give us another key oulet to build incremental revenues,� said Ravi
Saligram, chief marketing officer and managing director of global strategy
for Bass Hotels & Resorts.
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