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GRXI just had news. 23 Million Outstanding Shares. 18 milion in the float.
July 27, 2005 07:36 AM US Pacific Timezone
GTREX Capital Announces Global Travel Exchange Agreement with Sabre; Development Agreement Brings Inventory to Customers through World's Largest Computer Reservation System
ALISO VIEJO, Calif.--(BUSINESS WIRE)--July 27, 2005--GTREX Capital, Inc. (OTCBB:GRXI) and its operating subsidiary Global Travel Exchange, Inc., a leading provider of direct access travel distribution technology, today announced the signing of a development agreement with Sabre, Inc. that will allow Global Travel Exchange customers to access travel inventory from Sabre, which includes the world's largest global distribution system (GDS).
Under the terms of the agreement, Global Travel Exchange will provide its customers direct access to Sabre's inventory, thereby expanding Global Travel Exchange's product offerings, including airlines, hotels, car rental companies, and cruise lines. Global Travel Exchange customers, through travel agent e-commerce solutions and travel agent back-office products, will offer travel amenities from Sabre-based inventory, extending their reach into a broader array of choices.
Sabre Travel Network connects travel buyers and sellers through the world's largest computer reservation system, providing approximately 53,000 travel agency locations with instant access to its travel inventory.
"By offering the expanded choices to its customers that a connection to Sabre offers, Global Travel Exchange is increasing its revenue potential by increasing the likelihood that customers will find the travel products they are looking for," commented Christopher Berlandier, chairman and chief executive officer of GTREX Capital, Inc. "Each booking also adds to the revenue generated by transaction fees, so Global Travel Exchange will continue to grow its travel inventory for its customers.
"Greater inventory also serves as an important marketing tool. Connections with major GDS companies like Sabre will increase the number of customers who utilize Global Travel Exchange's Voyager Network for travel bookings, since many of them already make reservations through Sabre."
Global Travel Exchange has developed and implemented several Extensible Markup Language (XML) interfaces, in accordance with OTA specifications, to ensure a direct connection between Global Travel Exchange and suppliers of travel services. Global Travel Exchange's high-quality direct connection will provide clients with access to higher quality information, translating into more convenience for travelers and travel arrangers.
Global Travel Exchange will receive revenue through its e-commerce platform from a majority share of each transaction, from set-up and licensing fees and from ongoing bookings fees.
About GTREX Capital, Inc.
GTREX Capital, Inc. (http://www.gtrexcapital.com) is a Business Development Company pursuant to the Investment Company Act of 1940 whose core focus is to assemble an investment portfolio of investments into businesses related to the travel industry.
Its initial portfolio investment, Global Travel Exchange, Inc., provides a service that enables direct access to reservation systems of major travel suppliers such as airlines, cruise lines, hotels, car rental companies and providers of other travel amenities. Through a software solution that searches for the availability and price for the itinerary suggested by the buyer over all direct connected suppliers and existing Global Distribution Systems (GDS), Global Travel Exchange presents the results in an easy to understand format. Besides improved brand and revenue management, suppliers save distribution costs while providing efficient service to major customers through a direct connection. Global Travel Exchange is positioned to market its services through travel distribution partners, contributing to the expansion of the Company's marketing channels and expedite revenue growth.
Safe Harbor Statement
This release contains forward-looking statements with respect to the results of operations and business of GTREX Capital, Inc., which involves risks and uncertainties. The Company's actual future results could materially differ from those discussed. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward-looking statements be subject to the "Safe Harbors" provision of the Private Securities Litigation
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