RCG to Acquire OneTravel

Dawna Robertson RCG Companies Incorporated (www.rcgcompanies.com), a diversified travel and leisure company, has entered into an agreement to acquire 100% of the outstanding stock of OneTravel, Inc. (www.onetravel.com). RCG operates SunTrips (www.suntrips.com), one of the largest leisure-travel tour opera

By: Dawna Robertson

RCG Companies Incorporated (www.rcgcompanies.com), a diversified travel and leisure company, has entered into an agreement to acquire 100% of the outstanding stock of OneTravel, Inc. (www.onetravel.com). RCG operates SunTrips (www.suntrips.com), one of the largest leisure-travel tour operations in the United States, and 1800CheapSeats (www.1800cheapseats.com), a full service online and offline travel company.

OneTravel, a privately-held provider of online and offline discount travel products and services, offers the ability to search for and book a full range of travel products. It also has proprietary dynamic packaging search engine technology allowing customers to tailor vacations by combining air, hotel and land options.

The company operates a direct-to-consumer business through a variety of web sites. In addition to OneTravel.com, it operates 11thHour.com, CheapSeats.com and DiscountHotels.com. OneTravel also provides technology solutions and support services that enable other businesses to operate in the online travel arena.

“The OneTravel acquisition adds a variety of assets to the RCG arsenal in addition to the additional bookings and customer base,” commented RCG Chairman, William Goldstein. “In total, we will now have in excess of two million opt-in registered users across all brands.”

Goldstein praised OneTravel’s management team, noting its experience in online and offline travel. He added, “OneTravel’s technology will enhance RCG’s ability to provide a faster and more robust offering across all of the RCG business lines and brands.”

Although the company is still integrating the RCG/1-800-CHEAPSEATS merger, Goldstein said that RCG feels the long-term benefits from that combination and OneTravel greatly outweigh the additional planning associated with integrating a third company within RCG. “This acquisition puts RCG in a position to achieve in excess of $300 million in gross bookings for the twelve months post closing,” he commented. “And we believe that following the implementation of the growth opportunities we see through cross-selling and dynamic packaging, our bookings will increase substantially from the combination of SunTrips, 1-800-CHEAPSEATS and OneTravel.”

Regarding the move, Phillip Ferri, President and Chief Financial Officer of OneTravel, Inc., remarked, “We are very excited about the acquisition and becoming an integral part of RCG. Our management team is looking forward to working with Will (William Goldstein) and the RCG team.”

Ferri continued, “We believe that the combination of RCG and OneTravel will create a strong platform for growth in the online travel market, and provide significant value to the company’s shareholders, customers and partners.

OneTravel’s technology will enhance RCG’s ability to provide a faster and more robust offering across all of the RCG business lines and brands.

www.rcgcompanies.com

www.onetravel.com

www.suntrips.com

www.1800cheapseats

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