| Irving, TX � December
2002 � Lexington Services, part of
MyTravel, one of the largest providers of global hotel reservations in
the world, announced the launch of LexPay(SM).
Through an agreement with Perot Systems Corporation, Lexington's member
hotels can now remit travel agent commission payments and review their
monthly billing statement online. LexPay is an enhancement to LexLink®
OnLine, the core product of Lexington Services' suite of Internet-based
reservation management and distribution services.
LexPay consists of two
features that will help hotels increase efficiency and build better relationships
with travel agents:
-
Perot Systems® Travel
Agent Commission Settlement (TACS) proprietary technology.
-
Online Billing.
TACS
Perot Systems TACS service
is a global processing system that collects the hotel transaction information
and commission payment details, consolidates the information for the hotel
or chain, and then creates consolidated commission payments to travel agencies
in their preferred currency with a detailed statement. This service also
provides valuable management reporting to both the hotel and travel agency.
The program uses global technology with capabilities to provide a variety
of transactions processing and banking services � most notably billing
foreign currency settlement and remittance collection.
Scott Lang, Perot Systems'
Vice President and Strategic Markets Group Leader, said, �Perot Systems
TACS service is a proven market leader for travel suppliers and agencies
alike. The Web-based TACS service helps ensure that commissions are paid
in a timely and efficient manner, and also allows suppliers and agencies
secure Web access to review their current and historical commission data.
We are proud to assist Lexington Services in standardizing their commission
processing and providing full commissions to their travel agencies.�
Online
Billing
Utilizing Perot Systems
TACS technology, Lexington Services' member hotels can now review their
monthly Lexington bill online, make edits for no-shows and cancellations,
and execute payment online via arranged banking agreements with the property.
No software or hardware is required. The property needs only simple Internet
access and an Internet browser to get started with this service.
�Perot Systems powerful
travel agent commission settlement service is a great enhancement to our
suite of Internet-based solutions,� said Shawn Heaton, president of Lexington
Services. �Our hotels can enjoy a strong sense of security in knowing that
their commissions are collected, allocated, tracked and reported correctly,
and travel agents will recognize Lexington Services' hotels are committed
to accurate and timely payment of their commissions. This is a win-win-win
for Lexington, our member hotels and the loyal travel agencies with whom
we do business.�
About
Perot Systems
Perot Systems is a worldwide
provider of information technology services and business solutions. Through
its flexible and collaborative approach, Perot Systems integrates expertise
from across the company to deliver custom solutions that enable clients
to accelerate growth, streamline operations, and create new levels of customer
value. Headquartered in Plano, Texas, Perot Systems has more than 400 clients
and reported 2001 revenue of $1.2 billion. The company has more than 8,500
associates located in North America, Europe, and Asia. Additional information
on Perot Systems is available at www.perotsystems.com.
About
Lexington Services
Lexington Services, a
part of MyTravel Group, is
the largest provider of reservations and centrally hosted technology services
to hotels in North America. As the exclusive marketer and distributor of
the SPIRIT� Hotel Reservation System, powered by CSC Services, Lexington
capitalizes on the power of the travel agent global distribution systems
(GDS), Internet travel portals, marketing alliances and its own call center
strengths to manage and process hotel reservations electronically. Servicing
nearly 4,000 hotels, encompassing 28 brands in 81 countries worldwide,
Lexington has corporate offices in Dallas/Las Colinas, Los Angeles, Miami,
London and Paris, and has development representative offices in Germany,
the United Kingdom, Mexico, Australia and Asia. More information about
Lexington Services is available at www.lexres.com.
| This press release contains
forward-looking statements. These statements relate to future events or
our future financial performance. In some cases, you can identify forward-looking
statements by terminology such as �may,� �will,� �should,� �forecasts,�
�expects,� �plans,� �anticipates,� �believes,� �estimates,� �predicts,�
�potential,� or �continue� or the negative of such terms and other comparable
terminology. These statements are only predictions. Actual events or results
may differ materially. In evaluating all forward-looking statements, you
should specifically consider various factors that may cause actual results
to vary from those contained in the forward-looking statements, such as:
the loss of major clients; deterioration of project and consulting-based
revenue and profit associated with deteriorating market conditions; the
Company's ability to achieve future sales; changes in its UBS relationship
and variability of revenue and expense associated with its largest customer,
as well as other clients; a portion of client revenue and profits represent
spending above contractual minimums, which could be deemed as discretionary
by clients and result in lower revenue and earnings for the Company with
limited notice; the current and future performance of client contracts;
risks associated with non-recoverable cost overruns on software development
contracts; growing start-up businesses; the highly competitive market in
which the Company operates; the variability of quarterly operating results;
the reliance on estimates that involve successful completion of future
actions; changes in technology; changes to accounting methods, and risks
related to international operations. Please refer to the Company's Annual
Report on Form 10-K for the fiscal year ended December 31, 2001, as filed
with the U.S. Securities and Exchange Commission and available at www.sec.gov,
for additional information regarding risk factors. The Company disclaims
any intention or obligation to revise any forward-looking statements whether
as a result of new information, future developments, or otherwise. |
|
 Contact:
Amy Gilliam Jones
Lexington Services
214.350.4597
ajones@lexres.com
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