PRESS RELEASE
September 10, 1999
HARS Reports 497% Increase in Internet Bookings for Seven Month Period
Calgary, Alberta - Hars Systems Inc, through its wholly owned subsidiary VIP International Corporation, for the seven month calendar period ending July 1999, experienced a 497% increase in Internet bookings as compared to the same period last year. The company processed Internet derived reservations worth more than $5 million in hotel room and car rental revenue for the period. Overall, for the period, the company generated in excess of $86 million in hotel room and car rental revenue from both the Internet and travel agent airline reservation systems. In the month of July approximately 8% of VIP's booking and sales volume was supplied by Internet channels, which is up from 6% two months previous. The company fully expects 12% of its business to be derived from the net by the year 2000. Anita Chan Director of Marketing and Electronic Distribution said, "These numbers have been achieved without the activation of TravelWeb and our own travel website. We expect even greater results when these Internet channels are fully operational."
VIP entered into an agreement with Pegasus Systems, Inc. of Dallas, Texas in July of this year to list its hotel and car rental locations on Pegasus' TravelWeb travel site. VIP expects the site to be fully active by the second quarter of 2000. VIP's own proprietary travel site is due to be launched by the end of this month.
VIP provides Internet and travel agent airline global distribution system services to more than 3,100 hotel properties and car rental locations in 66 countries. VIP is a wholly owned subsidiary of publicly traded HARS Systems, Inc. - VSE - HSS.
Providing Internet & GDS Electronic Distribution and Marketing Services to more than 3,100 hotel and car rental companies worldwide.
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