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Pegasus Solutions, Inc.
(Nasdaq: PEGS) announced the signing of a two-year renewal agreement with
London-based Six Continents(R) hotels for continued centralized processing of worldwide travel agency commissions. A customer
since 1994, Six Continents' 3,200 hotels and resorts in nearly 100 countries
will continue to participate in Pegasus Commission Processing, one of the hotel
industry's leading travel agent commission processing services. The Pegasus
Commission Processing service was created in 1992 by Dallas-based Pegasus
Solutions, a leading provider of hotel industry transaction processing and
electronic commerce services.
Pegasus handles the consolidation and payment of commissions worldwide
to travel agent subscribers of Pegasus Commission Processing on behalf of Six
Continents' properties operating under the brands of Crowne Plaza(R), Holiday
Inn(R), Holiday Inn Select(R), Holiday Inn SunSpree Resorts(R), Holiday Inn
Express(R), Holiday Inn Garden Court(SM), Holiday Inn Family Suites(SM) Resorts,
Inter-Continental(R) and Staybridge Suites(R) by Holiday Inn(R).
"We are pleased to extend what has been a very successful relationship
with Six Continents hotels," said Jeff Bzdawka, senior vice president of Pegasus
Financial Services. "Six Continents has long advocated the benefits of automated commission processing to its brands, and the
majority of its hotels are active participants in our commission service. The hotel company's ongoing
commitment demonstrates that this service simultaneously reduces overhead
costs while providing a vehicle for friendly travel agency relations."
Six Continents is the latest in a string of major hotel chains to
renew travel agency commission processing agreements with Pegasus. In the past five
months, Best Western, Hilton Hotels Corporation, and Marriott International inked
contract renewals, solidifying Pegasus' position as one of the leading providers
of hotel commission processing services.
Each month Pegasus collects Six Continents' actual guest stay
information related to bookings made by travel agents and travel Web sites that are members
of Pegasus Commission Processing (formerly HCC). Pegasus consolidates all
participating Six Continents properties' information and commission payments
with those of its other commission processing hotel customers and sends detailed reports
and a consolidated commission payment in agencies' choice of currency to Pegasus' member travel agencies.
Pegasus provides commission processing services to travel agencies in
more than 200 countries, including the 10 largest U.S.-based agencies. By participating
in Pegasus Commission Processing, most travel agencies realize a significant
growth in commission revenue, as well as cost savings due to a sizable reduction in expenses associated with
typical manual methods for managing hotel commissions.
Travel agencies can also elect to receive total automated commission
management through Pegasus' Electronic Reconciliation & Tracking service.
Pegasus also maintains highly responsive customer service support for travel
agencies, with more than 70 percent of queries being serviced and satisfactorily
resolved while agents are on the phone with Pegasus. With the majority of travel
agencies worldwide as members and more than 35,000 participating hotel properties, Pegasus
processes an average of $41 million in travel agent commissions per month on behalf of more than 110 hotel companies in 159
countries. |
