LodgeNet Completes StayOnline Acquisition
FEBRUARY 5, 2007. LodgeNet Entertainment Corporation has completed the acquisition of the operating assets, including technology and intellectual property, of StayOnline.
The purchase price of the acquisition was approximately $15,000,000 in cash. With the closing of this agreement, LodgeNet now provides Internet access services to more than 175,000 hotel rooms nationwide. LodgeNet provides interactive television services to more than one million hotel rooms throughout the United States and Canada.
"The closing of this transaction is an important step forward in the execution of our corporate strategy to expand our networks and integrate high value solutions for our customers," said Scott C. Petersen, LodgeNet President and CEO. "StayOnline's expertise and solid relationships, combined with our significant resources will allow us to enhance the array of IP-based solutions we can deliver to our customers, all backed by our unparalleled nationwide customer service organization. Connectivity is one of the most essential services requested by hospitality customers, and this transaction clearly creates a leading solution for hoteliers and their guests."
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 
