 |
|||||||
 |
|||||||
 |
|||||||
 |
|||||||
|
|||||||
 |
|||||||
 |
|||||||
 |
|||||||
 |
|||||||
 |
|||||||
 |
|||||||
 |
FOR IMMEDIATE RELEASE:
January 5, 2004
STATABILITY PURCHASES IRIS FROM THARALDSON COMMUNICATIONS
Atlanta, January 5, 2004: Statability has purchased 100% of the rights to the Internet Reporting Information System (IRIS) from their alliance partner Tharaldson Communications. Tharaldson Communications and Statability launched IRIS as a web-based flash reporting/financial management tool available to the multi-unit management companies in mid-2003. IRIS was modeled after Tharaldson Lodging’s proprietary system and used Statability’s web based platform and reporting. IRIS reports daily revenue in real-time to General Managers, Area Directors and Regional Vice Presidents providing them the necessary information to produce better results for their company.
"With the initial positive response from IRIS clients and the rebounding of the economy, we believe IRIS is poised as the affordable way for management companies of any size to compete with web-based technology, and we wanted to own this space" said Statability co-founder Michael Wohl. "We will still work with Tharaldson Communications as our partner for hotels that want to upgrade to high-speed internet access."
"At Tharaldson Communications, we wanted to focus our efforts on what we know and do well, and that is telecommunications, and providing the web infrastructure to hotel companies. The use of the web, and handing of the data is not the business we want to be in, and we felt selling our share of IRIS to Statability was the right business decision for us," remarked Vice President Curtis Olien.
"IRIS for us works as a real-time executive reporting system, it allows all our managers at the hotel, regional, and corporate level see and use their information in order to make better and faster business decisions. We are thrilled with the accuracy and speed of IRIS, and are expanding IRIS to all of our 46 hotels" said Craig Aniszewski Executive Vice President of The Summit Group. "IRIS has provided a very affordable way for our company to use the web to provide us information that helps us produce better business performance."
About Statability
Statability, headquartered in Atlanta with offices in Minneapolis and Sydney, Australia, was founded in 1999. Clients include Marriott International and Intercontinental Hotel Group. Statability partners include Signature, No Barriers, and Ideas. For more information about Statability, call 952-322-5865, e-mail info@statability.com or visit the company website at www.statability.com.
For more information about this release, contact:
Michael Wohl
952-322-5865
mwohl@statability.com