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Pegasus Solutions started 2011 setting an industry record as international transactions processed by its UltraDirect interface reached new highs, increasing nearly +20% over peaks seen last July. The company not only processed more than five billion transactions in January alone through the analyst-dubbed “distribution workhorse”, but also recorded facilitating a staggering $13 billion of revenue for its hotel customers worldwide in 2010.
“This has been an amazing time to be at the helm of Pegasus Solutions,” said Mike Kistner, chief executive officer of Pegasus Solutions. “In the last year alone, and leading into 2011, we’ve forged unprecedented relationships, leveraged the hotel switch in innovative ways and welcomed new customers around the world. As the hotel industry has recovered, we’ve enjoyed being the defining business-driving factor for many of our tens of thousands of customers worldwide with a variety of proven solutions.”
Pegasus announced a significant amount of new business contracts and solutions innovations during the year, while also reporting ongoing signs of economic recovery for both the business and leisure travel sectors in The Pegasus View. Noteworthy developments included:
- Several major chains and independent properties signed on or renewed contracts across Pegasus business lines in 2010, including Marriott International, La Quinta Inns & Suites, Warwick International Hotels, Drury Hotels, Loews Hotels, Golden Tulip, Atlantica Hotels, The Gleneagles Hotel, Park Plaza Hotels, One&Only Resorts and Malmaison.
- Additionally, the company and its solutions were recognized with three major technology awards, including the InfoWorld Top 100, InformationWeek 500 and CIO 100. Chief operating officer Ric Leutwyler was named one of the top extraordinary minds in sales and marketing by HSMAI, while hotel marketing campaigns earned two HSMAI Adrian Awards.
- In a pioneering move, Pegasus reached a licensing agreement with HP Enterprise Services for its next generational enterprise delivery platform, RezView NG. As a result, RezView NG will help HP accelerate its development of next generation consumer travel solutions for hospitality and airline clients.
- The company launched a VAT (value-added tax) self-enrollment site to facilitate the formation of international VAT self-billing agreements between hotels and agents. In the tradition of social networking, the site allows hotels and agents to register with a VAT ID and request “connections” to enter into official 12-month VAT self-billing agreements.
- Pegasus also introduced descriptive content pushes to the GDSs (global distributions systems) based on feedback gathered from existing customers during its inaugural Next Generation Shopping Summit. Responding to a need articulated by suppliers and distributors to better merchandise the hotel experience, Pegasus offers a single point of entry and management for GDS and ADS (alternative distribution system) descriptive hotel content updates.
- More than 25 major groups and chains are now on Pegasus’ award-winning RezView NG platform. Many are now experiencing growth in revenue – some as high as +90%.
“The business of capturing hotel bookings is in our DNA,” concluded Kistner. “As a company formed to connect supply and demand customers more than 20 years ago, we have continued to evolve and drive the industry forward to ensure new opportunities – ranging from mobile and social media to next generation technology – are available and effective in generating new business for hotels, chains and distributors worldwide.”
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
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