ALISO VIEJO, Calif., June 9, 2005 (PRIMEZONE) -- GTREX Capital, Inc. (OTCBB:GRXI) and its operating subsidiary Global Travel Exchange, Inc., a leading provider of direct access travel distribution technology, announced the signing of a connection agreement with HotelBeds.com, a provider of online accommodation and resort services to travel agents worldwide. Under the terms of the agreement, Global Travel Exchange will provide its customers with direct access to HotelBeds.com's bed stock and other inventory.
"The addition of HotelBeds' inventory, with its particularly large European presence, combined with the recently announced agreement with Pegasus Solutions, Inc., is expected to significantly enhance the travel inventory available to Global Travel Exchange's customers," commented Christopher Berlandier, chief executive officer of GTREX Capital, Inc. "We are in various stages of discussions with other travel industry suppliers, and as a result, anticipate continued and ongoing expansion of our product offerings, all of which utilize a direct connection between customers and suppliers."
HotelBeds.com operates in 14 European and North American countries, offering incoming services to more than 1,200 tour operators and wholesalers throughout the world. By opening its inventory to Global Travel Exchange customers, Hotelbeds is expected to increase the transactions booked through its system while using the OpenTravel Alliance (OTA) standards supported by Global Travel Exchange.
Global Travel Exchange has developed and implemented several Extensible Markup Language (XML) interfaces, in accordance with OTA specifications, to ensure a direct connection between Global Travel Exchange and suppliers of travel services. Global Travel Exchange's high-quality direct connection will provide clients with access to higher quality information, translating into more convenience for travelers and travel arrangers.
Global Travel Exchange will receive revenue through its e-commerce platform from a majority share of each transaction, from set-up and licensing fees and from ongoing bookings fees.
About GTREX Capital, Inc.
GTREX Capital, Inc. (http://www.gtrexcapital.com) is a Business Development Company pursuant to the Investment Company Act of 1940 whose core focus is to assemble an investment portfolio of investments into businesses related to the travel industry.
Its initial portfolio investment, Global Travel Exchange, Inc., provides a service that enables direct access to reservation systems of major travel suppliers such as airlines, cruise lines, hotels, car rental companies and providers of other travel amenities. Through a software solution that searches for the availability and price for the itinerary suggested by the buyer over all direct connected suppliers and existing Global Distribution Systems (GDS), Global Travel Exchange 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. Global Travel Exchange is positioned to market its services through travel distribution partners, contributing to the expansion of the Company's marketing channels and expedite revenue growth.
Safe Harbor Statement
This release contains forward-looking statements with respect to the results of operations and business of GTREX Capital, Inc., which involves risks and uncertainties. The Company's actual future results could materially differ from those discussed. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward-looking statements be subject to the "Safe Harbors" provision of the Private Securities Litigation Reform Act of 1995.