DALLAS & PHILADELPHIA --(Business Wire)-- Aug. 23, 2005 -- New Contract Demonstrates that GenaRes' Services are Appropriate for All Types of Hotels, from Limited Service to Luxury Suites Properties

GenaRes Worldwide Reservation Services(SM) Ltd., the hotel industry's newest representation and reservations company, announced that Korman Communities has chosen GenaRes as its new hotel reservations system provider. Philadelphia-based Korman Communities owns and operates 18 luxury apartment and corporate suite communities in New York, Washington, D.C., New Jersey, Pennsylvania and North Carolina.

With more than 100 units per building, Korman leases its furnished apartments for extended stays as well as nightly stays, where appropriate. Korman Communities originally introduced its extended stay suite concept in the 1960s, and was known as "Korman Suites." Since then, the company re-branded as Korman Communities, in order to connote that guests are getting an entire experience with many of the comforts of home, and not just a place to sleep. To differentiate itself from its competitors in the apartment and extended-stay markets, it defined a lifestyle that appealed to a certain demographic, and now offers amenities and services that perpetuate the upscale lifestyle that previously was only offered in high-end hotels.

By switching its reservations system to GenaRes, Korman is using the GenaRes CRS to book nightly reservations to fill rooms in those communities that allow less than 30-day stays. As a result, Korman Communities' luxury furnished apartments are available for booking by travel agents using the GDS code "GZ" via the major GDSs, such as Sabre, Galileo, Amadeus and Worldspan, as well as by consumers via Internet sites around the world that are connected to the Pegasus Solutions Online Distribution Network (Nasdaq:PEGS).

Korman Communities decided to move its reservations processing to GenaRes for multiple reasons. "As a 'high-touch' service provider, we were looking for a reservations provider that also provides high-touch service. Accordingly, we have found GenaRes' staff to be very attentive and responsive to our needs," said Korman Communities' Vice President of Sales and Marketing M.J. Paschall. "We like the fact that GenaRes' system is totally Web-based, user friendly and easily accessible. Now we can make changes in 'real time,' such as loading rates, or opening and closing availability, instead of having to wait weeks for our representation firm to make the changes for us. Another important feature for us is that all of our reservations history is stored on the GenaRes CRS, and very easy for us to view and analyze as needed.

"Basically, now that we are with GenaRes, we are better able to manage our inventory and monitor our revenues more efficiently," Ms. Paschall concluded.

Services that GenaRes began providing for Korman Communities on July 1, 2005, include: -0- *T -- Full use of the GenaRes Web-based -- Revenue management CRS with inventory management across all distribution channels -- Next-generation seamless -- Online training connectivity to all GDSs -- Representation on the GDSs via -- Ongoing customization as the chain code GZ needed -- Internet distribution to thousands of Web sites *T

"This new contract with Korman demonstrates the applicability of our system and services for any type of hotel company, whether it be a large limited-service chain, or a boutique operator of luxury suites properties," said GenaRes President Eugene Harris. GenaRes' system is the one of the few CRSs to be developed since 1999. Built from the ground up by experienced industry veterans, the system uses the latest technology and incorporates functionality that is most vital for hoteliers of today, including next generation seamless connectivity (Seamless 2), true sales distribution channel management, advanced yield management capabilities, and customized reporting. For hotels or hotel companies that do not need their own chain code, GenaRes provides its chain code of GZ.

GenaRes (http://www.genares.com) was formed last year by hotel industry veterans Michael G. Wilkins, Ricky A. Wilkins and Eugene Harris, who were founders of the Dallas-based hotel representation and reservations company Lexington Services Corp. In addition to originally founding Lexington Services, the GenaRes founders together have more than 30 years experience running a hotel company: Lexington Hotel Suites and Inns, which at one point had 50 hotels in its portfolio. "GenaRes is probably the only third party representation service that was truly created by hoteliers for hoteliers," said GenaRes President Eugene Harris. "As former hoteliers, we understand the day-to-day challenges that hotel operators face." GenaRes' customers include Americas Best Value Inn, AAHOA (the Asian American Hotel Owners Association), and hundreds of independent properties.

About Korman Communities

Korman Communities - short-term furnished apartments with resort amenities and services - are unique in the world of extended-stay residences. Unlike third-party furnished apartments and hotel suites, Korman Communities benefit from the advantages of owner operations by a Philadelphia-based 95-year-old company that has evolved through four generations. Offering excellence in design and "high-touch" service, cost considerations and comfort, its luxury accommodations are maintained and managed by a select staff of Korman-trained professionals working as a team at each community.

About GenaRes

Launched in 2004 by former Lexington Services Corp. founders and executives, Dallas-based GenaRes Worldwide Reservation Services(SM) Ltd (http://www.genares.com) is the hotel industry's newest hotel reservations and representation company. As the first new central reservation system (CRS) to come to market since 1999, GenaRes' GenaRater(SM) Web-based CRS and related services are provided on an ASP basis and are designed for properties ranging from small independents to large chain hotels worldwide. Laying its claim as the lodging industry's only privately held reservations technology provider that was created by hoteliers for hoteliers, GenaRes' services include: seamless GDS and Internet connectivity, a private-label Internet booking engine, a Web-based CRS with two-way XML property management system interfaces, and private-label voice reservations/call center services. GenaRes is headquartered in the Dallas/Fort Worth suburb of Grapevine, Texas, and has sales offices in Denver, San Diego, and Fort Lauderdale.

Editor's Note: Photos of GenaRes executives or Korman Communities' properties available on request.

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