LodgeNet Struggles to Pitch Hilton Deal.(Brief Article)
Multichannel News, October, 2000 by FARRELL, MIKE
A week after landing a contract that would push its total domestic hotel-room base to more than 1 million, shares of LodgeNet Entertainment Corp. continued to fall, as investors struggled to come to grips with the benefits of the agreement.
LodgeNet announced earlier this month a seven-year master service agreement with Hilton Hotel Corp. that would give it access to 70,000 hotel rooms in Hilton's owned-and-operated properties in the United States. In addition, Hilton will make LodgeNet the preferred provider of interactive services to another 1,600 managed and franchised hotels in the U.S. and Canada, representing another 250,000 rooms.
The agreement will boost LodgeNet's overall hotel footprint -- currently at about 700,000 rooms -- to over 1...
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