The Global Travel Exchange plans to launch Hotel Futures contract trading
The Global Travel Exchange a pioneer in hotel auctions is planning to launch the first tradable Hotel Futures contract by the 4th quarter of 2003. The hotel futures contract is a product developed by the Global Travel Exchange to offer the tourism industry an opportunity to hedge, invest and better manage its inventory.
A hotel future contract will present a contract for 10 double/twin rooms with a fixed check in/check out date presenting 7 nights in length. Futures will trade with 52 different check in/check out dates spread evenly throughout the year. Hotel futures are tradable up to a week before check in and can be exercised at any time during the purchase.
In an effort to enhance liquidity, the tradable contracts will trade under international brand names and under independent hotel futures, each contract will refer to a certain city or geographical region and will be subject to price fluctuations based on the actual demand and supply situation of each city.
Hotel futures contracts offers a real direct opportunity for investors today to invest and speculate directly in the world largest industry, which is the tourism industry, an industry that is projected to double in size by 2020.
Offering hotel futures trading is a first step toward offering a multitude of tradable contracts in the hotel industry and shortly after the airlines industry. "We are at GTX are very excited about the development of the Hotel Futures contract, which we believe will revolutionize the industry and greatly improve efficiency and transparency" commented Mr. Nawar Alsaadi business development director of the Global Travel Exchange.
On October 1st 2002 The Global Travel Exchange has launched a demo of its platform at GTXmarketplace.com; the exchange is on track to launch a fully tradable auction market by February 2003 followed by instant trading capabilities and hotel futures trading by the end of 2003.
Currently the Global Travel Exchange is in discussions with world class companies to participate in the development, technology and the implementation of the GTX as the market of choice for the tourism industry and the dominant exchange in its category. "We are hopeful that we will have a material announcement to make in that domain before the end of this year" mentioned Mr. Donnie Moseley GTX strategic planning director.
The Global Travel Exchange (GTX) is an interactive marketplace based in Paris, France, where buyers and sellers of block or mass travel and tourism products and services are connected through the internet and interact by way of an innovative auction and trading platform software created in house and through our core technology partnerships. The GTX was developed in order to make the Global Travel market more efficient, transparent and profitable for travel professionals. GTX not only matches travel providers needs with travel suppliers, but GTX in essence is creating a new market where travel blocks can be traded, hedged, shorted and used as options.
PR Contact information:
Mr. Nawar Alsaadi
Tel: (33-1) 45790979
Tel: (33-6) 66649637
Fax: (33-1) 45797359
Email: Nawar@forusmanagement.com
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