SOURCE: Puget Technologies

July 28, 2015 16:05 ET

Puget Technologies Enters the $150 Billion Online Travel Industry With a Proprietary Algorithm

ENGLEWOOD, CO--(Marketwired - Jul 28, 2015) - Puget Technologies (OTCQB: PUGE), a travel technology company headquartered in the Denver Metro region, announced today its entry into the online travel market. The development of the intuitive algorithm that powers the travel site provides online travel consumers access to the lowest possible rates from a world-wide inventory of airlines, hotels, and ground transportation companies from multiple wholesale suppliers.

According to Forbes, "Online travel agencies (OTAs) had gross bookings exceeding $150 billion in 2013, representing 38% of the global online market and 13% of the global travel market. The online travel sales figure is estimated to be growing at 12% annually. OTAs have 15% of total hotel sales in the U.S. with around $19 billion of gross bookings and are expected to grow 5-6% over the next two years. OTAs customer segments span across business, leisure, and group. OLT websites play multiple roles, acting as marketing engines, booking engines, and search engines, as well as existing as an execution platform for customers."

Puget Technologies intends to capitalize on the booming online travel business by making a white label version of the software available to travel agencies and tour operators around the globe.

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About Puget Technologies, Inc.
Puget Technologies (www.PugeTech.com) specializes in travel product distribution to online consumers and automation for travel agencies, group operators, and the travel industry as a whole. By offering a company-wide, integrated application system, Puget's next generation trusted platform and smarter network topology empower better decision making, faster results, and scalable growth.

Forward-Looking Statements
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company's SEC filings. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements.

Contact Information

  • Contact:
    Thomas M. Jaspers
    CFO
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    Investor Relations:
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