1. HEDNA Hotel Electronic Distribution Network Association Fred L. Bean, VP - Hotels Travelweb LLC December 2003

2. Travelweb Profile Evolution of the Merchant Model Benefits for Hoteliers, Affiliates and Consumers Q&A Travelweb

3. Travelweb - For Hotels, By Hotels Travelweb was founded by: Spring 2003

4. 3. Hotel re- keys reservation into CRS with Hotel’s conf # Confirm #s do not match, data entry errors, costs of labor, fax machines, real estate, unhappy guests and front desk problems Hotel invoices Legacy for payment Often slow, inaccurate 5. Legacy Merchant Model Distributor, not hotel, takes advantage of market demand Unsold legacy.com Inventory is dumped back to hotel 24-48 hours before check in 4. Legacy pays fixed rate to the hotel - Revenue dilution for the hotel - Contract for Room Blocks Legacy.com 1.1.1.1. Guest books room and Legacy.com collects payment Manual process, faxes lost Legacy.com issues its own Confirmation # and Faxes reservation to Hotel 2.2.2.2.

5. Hotel manages inventory via existing yield management tools and CRS, issues guest its own confirm # Hotel CRS Consumer accesses website displaying inventory real-time Travelweb Merchant Model Travelweb Technology Travelweb applies markup and distributes to its affiliates or its website Travelweb dynamically retrieves net rate from hotel Travelweb funds hotels via check or electronically (no invoice needed)

6. Hotel Benefits Increased Revenue –Yieldable rates and inventory Variable Net Rate, No allocation, No distressed inventory returned to hotel Lower cost distribution –Connect into the CRS, no extranets/faxes Single image inventory –Fee elimination (in some cases) Broad Distribution Guaranteed Payment –No invoicing, fast payment

7. Travelweb Hotel Partners 50+ 50+% of Travelweb hotels are Non-Investor brands 11,000+ hotels representing over 100 brands…

8. Delivering Value to Affiliates Added Revenue –Generous commission package –Pre-paid rooms = guaranteed commission –Automated payment, no invoicing needed Richer Content –11,000+ hotels participating, over 100 brands Greater Customer Satisfaction –Electronic connectivity direct to CRS –Hotels’ own confirmation # is issued, no lost reservations –Happy customers = repeat customers

9. Consumer Benefits Peace of Mind –No more lost reservations because of our electronic link to the CRS Recognized, trusted hotel brands –Huge selection of top hotel at popular destinations Last minute availability –Reservations are not denied because the block of rooms is sold

10. Our success is Your success Travelweb is influencing industry changes –Many major online travel companies are planning to change their methods Plans to create direct connections More flexible rates –The hotel industry is embracing Travelweb 11,000+ hotels participating in over 3,500 cities –Quality affiliate partners

11. Q & A

12. Thank You Fred L. Bean Vice President, Hotels 214-424-8435 fbean@travelweb.com