Superclick Announces Binding LOI to Acquire Hotel Net LLC
SAN DIEGO, CA, July 19, 2005. Superclick, Inc. today announced that it has signed a binding letter of intent to acquire Hotel Net LLC, a private Atlanta-based provider of Internet management solutions to the hospitality industry.
Hotel Net is currently installed in more than 160 hotels and 20,000 rooms throughout North America. Todd M. Pitcher, Superclick's Chairman and interim CFO commented that, "We have been extremely impressed with Hotel Net's business growth, service offerings and its commitment to customer support and believe that each aspect of its business is very synergistic with our own." Together, the combined businesses will have a room footprint of more than 75,000 rooms.
Chirag Patel, co-founder and CEO of Hotel Net, stated, "Superclick's superior HSIA server technology and 100% dedicated and pro-active support center will serve well the current Hotel Net customer base of over 160 hotels. This is exemplified by a recent partnership of the two companies at a large Marriott hotel, located in the Silicon Valley area that now offers guests seamless access to wired and wireless internet access. Our combination with Superclick will continue to enhance Superclick's excellent market position to offer fully integrated solutions for the high end hotels as well as address the smaller hotels with cost-effective HSIA solutions."
Pitcher added, "We continue to look for ways to increase shareholder value by strengthening our business, and we believe that this transaction with Hotel Net will be a significant step forward in these objectives. We will continue to drive business growth through expanding our product and service capabilities both organically and through acquisitions. In doing so, we intend to continue to enhance our value proposition to the end customers." The transaction is subject to the closing of a material definitive agreement as early as August, 2005.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
