Pegasus Solutions and the Vacation Rental Managers Association to Transform Online Vacation Rental Market in 2012

Collaborative Vacation Rental Switch Will Offer Unprecedented Online Vacation Rental Shopping

January 5, 2012- Pegasus Solutions and the Vacation Rental Managers Association (VRMA) have partnered to launch a groundbreaking Vacation Rental Switch (VRS) in the next 150 days. The new interface will improve online vacation rental shopping, while also enabling vacation rental managers to more easily merchandise their properties.

The VRS will first launch with VRMA’s www.DiscoverVacationHomes.com, its official public resource on vacation rental travel. With the VRS, the site will be capable of allowing travelers to find and book professionally managed vacation rental properties from hundreds of the world’s most reputable companies in real-time.

"For travelers seeking and booking vacation rentals online, the millions of diverse choices can certainly seem overwhelming,” explained Steve Trover, President of the VRMA. "Working together with Pegasus, we’re developing a solution that improves the shopping experience by setting new, consistent standards for how vacation rentals are presented and sold online. This also streamlines the process for vacation rental managers themselves, who will be able to automate the distribution of their properties through a single platform for the first time.”

Representing one of the fastest-growing hospitality markets*, the vacation rental industry faces many distribution challenges as managers must navigate disparate standards, methods of rate management, inventory and other content. Distribution channels, for their part, are challenged with providing a consistent shopping experience across a highly fragmented and specialized supplier base."

As the vacation rental market has grown in popularity, it makes sense for the professionally managed vacation rental segment to adopt the same revenue generating tools hotels have,” added Mike Kistner, Chief Executive Officer of Pegasus Solutions. "We’re pleased to have a committed partner in VRMA that is willing to pave this way for all professional vacation rental management companies.”

The VRS will be offered to professional vacation rental management companies, who will also enjoy a facilitated booking process by leveraging Pegasus’ award-winning RezView® NG central reservations system, as well as its UltraSwitch and UltraDirect distribution products. Development of the VRS was announced at the VRMA Annual Conference October 9-12 in Orlando, Florida.

About Pegasus Solutions

Pegasus Solutions is the world’s leading provider of technology and services to hotels and travel distributors, supplying the award-winning RezView® NG central reservation system, electronic distribution services, advanced agency commission processing and payment services, and hotel marketing representation services. Founded in 1989, Pegasus created and launched the hotel switch, and today its customers include approximately 90,000 properties around the globe as well as a majority of the world’s travel agencies. Pegasus’ powerful representation arm incorporates Utell® Hotels & Resorts and Utell Connect, services that have been chosen by more than 6,000 member hotels in more than 130 countries. It also powers the niche consumer website www.hotelbook.com, dedicated to promoting independent and boutique hotels throughout the world. The company’s widely followed monthly data report The Pegasus View has been awarded a 2011 Stevie Award, and is recognized as the only hospitality report to monitor both actual business and leisure bookings.

Open Hospitality, a Pegasus Solutions company, delivers a full array of strategic online marketing solutions and accommodation booking options. Its award-winning marketing solutions focus exclusively on hotels and hospitality verticals, helping independent hotels, groups and chains raise online visibility, build market share and increase online reservations.Pegasus has 22 offices in 12 countries, including Dallas, London, New York, Singapore and Scottsdale, Arizona. For more information, please visit www.pegs.com, www.utell.com or www.openhospitality.com.

About the Vacation Rental Managers Association (VRMA)

Founded in 1985, the VRMA is the international, professional trade association of the vacation rental property management and hospitality industries. Membership includes hundreds of professional vacation rental manager and associate suppliers across the world, representing tens of thousands of vacation rental homes, condos and villas available to travelers. For more information, visit http://www.vrma.com.

*Ypartnership/Harrison Group 2011 Portrait of American Travelers(SM)

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Media Contacts:

Amanda Drake for VRMA

+1 (727) 420-8395

adrake@mmgyglobal.com

Mandy Murphy for Pegasus

+44 (0)20 8490 4877

mandy.murphy@pegs.com

Ariel Herr for Pegasus

+1 (214) 890-7912

aherr@fortepr.com