NEW YORK, July 23, 2004 (PRIMEZONE) -- GTREX, Inc. (OTCBB:GRXI), announced today that it has signed a Letter of Intent (LOI) to install a direct digital connection between the central reservations systems (CRS) of Outrigger Hotels & Resorts and GTREX to enhance Outrigger's revenues from wholesale buyers.
Through direct connectivity, GTREX will make it easier and more cost-effective for Outrigger to manage and sell its inventory. GTREX's initiative to link supplier's reservations systems with the booking systems of wholesale buyers is an innovative and cost effective initiative. GTREX is planning to implement direct connectivity between major suppliers and wholesale buyers over the next 12 months.
"GTREX's direct connection makes it possible for Outrigger to seamlessly manage the rates and inventory allowing for an additional degree of brand control," said Kailash Khanna, CEO of GTREX, Inc. "We are extremely excited to offer this technology to effectively control brand erosion and cut high distribution costs."
"Outrigger's direct connectivity initiative has greatly improved servicing the wholesale buyers of hotel rooms and GTREX will further expand upon our capability," said Joe Durocher, CIO and Sr. VP Outrigger Enterprises." Interfacing with our wholesalers using web services & OTA standards has been a prudent and successful investment in technology that has already paid dividends."
About Outrigger Hotels & Resorts
Outrigger Hotels & Resorts is a division of Honolulu-based Outrigger Enterprises, Inc., the largest lodging company in Hawaii and one of the fastest growing lodging companies in the Pacific. Under various management contracts and its two hotel brands - Outrigger Hotels & Resorts and OHANA Hotels & Resorts -- the company currently operates or has under development 51 hotels and resorts throughout the Pacific region. Collectively, the company represents more than 12,000 hotel rooms and condominium units in Hawaii, Australia, Micronesia, Tahiti, Fiji and New Zealand. Through a strategic alliance with Fairfield Resorts, the world's largest time-share company, Outrigger Enterprises manages three vacation ownership properties on Hawaii's Big Island. Outrigger's affiliate, Outrigger Lodging Services, operates nearly two-dozen hotels and resorts throughout the U.S. Mainland under a variety of brands. For reservations or information, call your preferred travel professional or Outrigger Hotels & Resorts toll-free at 1-800-OUTRIGGER (688-7444) within the U.S., Guam and Canada. Elsewhere call 303 369 7777. For online information or reservations, Internet users can log onto www.outrigger.com. Outrigger's e-mail address is reservations@outrigger.com
About GTREX
GTREX is a Global Distribution System (GDS) enabling direct access to reservation systems of major travel suppliers -- airlines, cruise lines, hotels, car rental companies and providers of other travel amenities.
GTREX searches for the availability and price for the itinerary suggested by the buyer over all direct connected suppliers and GDS's and presents the results in an easy to understand format. Besides improved brand and revenue management, suppliers save distribution costs while providing efficient service to major customers through a direct connection.
"Safe-Harbor" Statement Under the Private Securities Litigation Reform Act of 1995
This press release contains forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including statements regarding potential sales, the success of the Company's business, as well as statements that include the word "believe" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of GTREX, Inc. to differ materially from those implied or expressed by such forward-looking statements. Such factors include, among others, the risk factors included in GTREX's periodic reports filed with the SEC under the Exchange Act. This press release speaks as of the date first set forth above and GTREX assumes no responsibility to update the information included herein for events occurring after the date hereof. Actual results could differ materially from those anticipated due to factors such as the lack of capital, timely development of products and or services, inability to deliver products and or services when ordered, inability of potential customers to pay for ordered products and or services, and political and economic risks inherent in international trade.