Pegasus Starts 2008 with Key Win

Business Wire, Jan 7, 2008

DALLAS -- Pegasus Solutions Inc. today announced that after wrapping a successful 2007, it has kicked off 2008 with yet another contract signing with Steigenberger Hotel Group, adding commission processing to the full suite of distribution and representation services Pegasus is already providing the leading European hotel chain.

"The last year was remarkable for Pegasus," said Pegasus Chairman and Chief Executive Officer, John Davis. "With two successful acquisitions, the introduction of RezView[R] NG and the revamping of our representation arm, Utell[R] Hotels & Resorts, coming into this year, this addition to the Steigenberger relationship is a true testament to how the momentum Pegasus has gained is positively impacting our customers."

In 2007, Pegasus acquired Wizcom Inc. from Travelport to expand its switch services and acquired GuestClick to help build its next-generation central reservation system (CRS), RezView NG, which was introduced at HITEC last June. The RezView NG migration has been met with much success, and throughout the ongoing transition of 10,000 hotels to the new platform, Pegasus' technology services unit has still managed to sign more than 140 deals, of which nearly 100 are new business across all regions.

Pegasus' financial services unit also experienced great success in 2007, securing 3,000 new agency IATA's and renewal agreements with key customers, Fairmont and BCD Travel. In addition, Pegasus' representation unit, Utell Hotels & Resorts, introduced its new Collections offering, and recently signed several new key customers including the MGM Grand Macau, the Thompson Beverly Hills and the Emirates Harbour Hotel & Residences in Dubai.

"Last year's success has a lot to do with our efforts in refocusing on the core of our business as well as Pegasus' new owners, Prides Capital," said Davis. "They have provided us the freedom and support we've needed to accomplish these milestones, and we plan to continue to take advantage of this success to bring new and existing customers breakthrough solutions in the coming year."

About Pegasus

Dallas-based Pegasus Solutions, Inc. is a global leader in providing technology and services to hotels and travel distributors. Founded in 1989, Pegasus' customers include a majority of the world's travel agencies and more than 78,000 hotel properties around the globe. Pegasus' services include central reservation systems, electronic distribution services, commission processing and payment services, and marketing representation services, including the consumer Web site, www.hotelbook.com. The company's representation services, including Utell[R] Hotels & Resorts and Unirez by Pegasus[TM], are used by more than 9,300 member hotels in more than 130 countries, making Pegasus the hotel industry's largest third-party marketing and reservations provider. Pegasus has 16 offices in 11 countries, including regional hubs in London, Singapore and Scottsdale, Arizona. For more information, please visit www.pegs.com.