Information obtained from Hoovers:Travelscape.com, Inc.Web Site: http://www.travelscape.com Expected IPO date: Week of July 19 Exchange: Nasdaq Proposed ticker: RSVN Proposed offer price: $10.00 to $12.00 Shares offered (mil.): 5.0 Offering amount (mil.): $55.0 Post-offering shares (mil.): 20.0 Underwriters: U.S. Bancorp Piper Jaffray; CIBC World Markets KEY NUMBERS Fiscal Year-End: December 1998 Sales (mil.): $20.9 1-Yr. Sales Change: 67.9% 1998 Income (mil.): $(4.4) Employees: 148 << Travelscape.com is helping to sculpt the changing landscape of travel agencies. The company offers airline tickets, hotel rooms, and air/hotel packages over the Internet through accords with major airlines and hotel chains in 35 markets (90% of sales come from hotel rooms). Travelscape.com offers bookings at 335 hotels such as Doubletree, Hilton, and Marriott, and discount airfares with American Airlines, America West Airlines, Delta Air Lines, and Reno Air. The company also has contracts with several Las Vegas hotel/casinos and specializes in Las Vegas travel through its Las Vegas Reservation Systems subsidiary. Chairman and CEO Timothy Poster owns 47% of Travelscape.com; COO Thomas Breitling, 40%. >>Jeanie
This company is the sole reservation company for LasVegas.com, which is the website owned by Las Vegas Review-Journal & Sun. There was an article in the last issue of Editor and Publisher quoting a guy from Las Vegas.com that about $600K per months in reservations were being handled via the site BEFORE Travelscape offered air/hotel packeges. (They were just doing hotel)... And in one month they bumped up to $1 million once air was added.Some great numbers, especially considering summer travel to Vegas is usually soft... Also, LasVegas.com is just one of the conduits to this web site. Haven't read the prospectus, but would be interested to see some projected revenue for this company.Anyone know if an on-line broker is doing the offering?
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