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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