GTP Travel Group Acquires Group Travel Planet Capital Investment Serves as Catalyst for New Growth Opportunities

    /24-7PressRelease/ - CLEVELAND, OH & SEVIERVILLE, TN, April 26, 2008 - GTP Travel Group, LLC announced today it has acquired Group Travel Planet LLC and provided a substantial capital infusion to accelerate the company's growth in the $100 billion group travel marketplace. Group Travel Planet has been the pioneer of online group travel.

The Pritzker Group of Chicago and Los Angeles led a group of strategic investors that provided the capital for the acquisition. "GTP is a leader in providing online solutions for the group travel marketplace and we are excited to provide a catalyst for its growth," said David Rosen of The Pritzker Group.

The small group and leisure travel sector is made up of many segments commonly referred to as the "SMERF" market - Social, Military, Educational, Religious and Fraternal groups. Within this framework, group travel includes sports and athletic team travel, multi-generational vacations, a social gathering of friends, religious retreats, wedding parties, or college and veteran reunions. GTP's products and services provide the group planner with a comprehensive solution for searching, buying and managing these group travel events.

"Automating the small groups booking process is the next logical step for the hospitality industry," noted Bob Chafey, Senior Director of Global Sales, Wyndham Hotel Group. "GTP continues to demonstrate its role as a leader in this dynamic marketplace."

At its flagship website - GroupAbout.com - event organizers for groups numbering from 5 to 50 or more attendees can easily manage the numerous details of booking and planning group travel. For group travel organizers and attendees, GTP offers increased flexibility when selecting a hotel, motorcoach, airline, rental car or cruise. The site provides the ability to book an entire group of travelers online, while communicating and collaborating with all attendees. For group travel suppliers, GTP provides the tools to better serve their customers while securing additional group and event business.

"The additional capital and management resources provide GTP the means to further expand its product offerings in the exciting group travel arena," noted Edward Tromczynski, Chief Executive Officer, GTP Travel Group. "Market research indicates that small group travel is a large and expanding segment of the groups and meetings industry, and GTP connects key stakeholders in this marketplace with its compelling online solution set."

The company will supplement the existing team with experienced management from the travel technology marketplace. As noted, the team will be led by 22 year industry veteran Ed Tromczynski, co-founder of PlanSoft Corporation and former President of PlanSoft and OnVantage, Inc. Scott Harness, co-founder of Group Travel Planet, has been elected to the Board of Directors and will serve as Executive Vice President of the company.

GTP Travel Group was the first to fully automate online group travel planning for the $100 billion groups and meetings industry. At its destination site, GroupAbout.com, GTP enables group travel organizers and attendees to efficiently transact business throughout the planning, purchasing and post-trip phases. All parties can easily communicate and collaborate with each other, with hotels and motorcoaches, airlines and rental cars, cruise lines, and related travel industry suppliers.

GTP enjoys strategic partnerships with key industry leaders, including major travel sites, large hotel chains, destination marketing organizations, global distribution systems, and regional travel agencies. Additional information regarding GTP Travel Group's unique offerings is available at the company's website, www.GroupAbout.com .

MEDIA CONTACT:
Alison Martin
561.638.2284
[email protected]

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