Pegasus Solutions Signs Four Seasons Hotels and Resorts for Travel Agent Commission Processing

Pegasus to Consolidate Commission Payments for Four Seasons Hotels in 20 Countries

Pegasus Solutions, Inc. (Nasdaq: PEGS) today announced its Pegasus Commission Processing service unit has been selected by Toronto-based Four Seasons Hotels and Resorts (Four Seasons Hotels Inc.; NYSE: FS) to handle the payment of travel agent commissions for Four Seasons managed hotels worldwide. Pegasus Commission Processing is the hotel industry’s leading travel agent commission processing service and is operated by Dallas-based Pegasus Solutions, a leading provider of hotel industry transaction processing solutions and electronic commerce services.

Four Seasons Hotels and Resorts is one of the world’s leading operators of luxury hotels. The company manages 48 properties, primarily under the Four Seasons and Regent brands, in 20 countries. In fourth quarter 2000, Pegasus expects to begin processing travel agent commissions on behalf of select Four Seasons Hotels and Resorts’ properties. All of the Four Seasons managed hotels are currently scheduled to be live with the centralized commission service by the end of first quarter 2001.

“Four Seasons Hotels and Resorts is a stellar addition to the Pegasus Commission Processing service. The new agreement reflects our ongoing commitment to travel agents that we will grow and diversify our hotel-member base,” said Jeff Bzdawka, senior vice president of Pegasus Financial Services. “Our continued success with adding branded and independent hotels to our service is due in part to the flexibility of our offering. By outsourcing their travel agent commission process to Pegasus, hotel companies operating in diverse locales, from Las Vegas to Lisbon, can achieve an economical and efficient central-pay solution.”

The more than 100,000 travel agency locations in 207 countries that subscribe to Pegasus’ service can also receive detailed reporting of actual guest stays, cancellations and “no shows” and can elect to receive total automated commission management through Pegasus’ Electronic Reconciliation & Tracking service. Today, Pegasus processes in excess of US$42 million in hotel commissions per month from more than 100 hotel companies in 159 countries. Of the top 25 hotel brands worldwide, 23 participate in the Pegasus Commission Processing service.