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Six Continents Renews Agreement with Pegasus Solutions for Travel Agent Commission Processing

Travel News Asia 7 October 2002

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.

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