Pegasus flies in to acquire REZsolutions for $163m
01 January 2000
REZsolutions, the hotels reservations and marketing group that runs three hotel consortia, is being sold to US firm Pegasus Systems for $163m (£101m).
Phoenix, Arizona-based REZsolutions operates Sterling Hotels and Resorts, Golden Tulip Worldwide, and Summit Hotels and Resorts. Its central reservations system is used by 80 hotel brands in more than 25,000 hotels across the world.
Publishing group Reed Elsevier, which owns Caterer & Hotelkeeper, is relinquishing its two-thirds share in REZsolutions to Dallas-based Pegasus, a worldwide provider of hotel transaction services.
The sale is expected to be completed in the first quarter of 2000.
