RESTON, Va., Aug. 24, 2007 (PRIME NEWSWIRE) -- Red Branch Technologies, Inc. (Pink Sheets:RBTI), a comprehensive online travel company focused on addressing the unmet needs of the business traveler, reports the company is preparing for the launch of the online travel portal my/mTravel(r). Red Branch Technologies' my/mTravel managed travel solution solves the shortfalls of traditional business travel planning and booking methods. RBTI plans to provide this feature rich service offering at the same cost per transaction as the competition, setting a new benchmark in value for the business traveler.
According to Technology Pioneer and COO, Thomas Murray, "My/mTravel will not require subscription fees nor will they markup travel inventory -- our travelers will get the full advantage of the purchasing leverage that their fellow mTravelers can bring to bear. That is part of our "With You all the way" promise."
My/mTravel will be supported by Red Branch Technologies' wholly owned subsidiary, Magellan 360. Magellan360 provides ticket fulfillment and 24/7 traveler support as well as agency and net delivered back-office services to independent professional travel marketers. My/Travel offers:
* Goal-Oriented Automated Planning (booking) Automated to interface with calendar tools, including Microsoft Outlook(c). Results can be delivered to PDA, cell phone, or personal computer. * Single-Click Travel Booking Applies pre-selected personal preferences and individual travel profile to determine and suggest an optimal itinerary. For business travelers, selections are automatically adjusted to conform to corporate travel policies. * Mobile Operability Access by web, wireless, PDA (e.g. Palm, Treo, Blackberry), pocket PC, or cell phone, permits users to initiate, review, or change travel plans "On-The-Fly" * NotiFlyer(r) and Trip Repair(tm) Maintains contact with a host of airline and travel databases, alerts travelers to flight changes, weather conditions, and security incidents that might adversely affect schedules. mTravel(r) Assistant then proactively suggests and books alternatives in the event of flight cancellations. NotiFlyer(r) works on any standard cell phone or web-enabled personal data assistant. * TravelBank(tm) Automates the reclamation of unused tickets and trip segments, saving companies as much as 15 percent of their travel budgets.
Doug Foran, Chief Executive Officer of Red Branch Technologies, states, "Business travelers have enough problems just trying to do their jobs. RBTI dedicates itself to solving the problems encountered by business travelers, wherever those problems present themselves in the travel cycle. Red Branch Technologies' unique "With You all the way(tm)" philosophy has resulted in the innovative my/mTravel(r) which automates the business travel process from the traveler's perspective. My/m travel was built by the business traveler for the business traveler."
With over $6 million in the development of their patent pending my/mTravel(r) and mTravel(r) products, Red Branch intends to capitalize on the surging online travel market. Recently, Red Branch acquired Magellan360(r), a provider of back office fulfillment services to over 175 independent professional travel marketers. On a consolidated pro forma basis, the company generated approximately $20,000,000 in gross bookings in 2006.
According to industry analysts the online travel industry is experiencing double digit growth year-over-year with revenue from online travel bookings exceeding $70 billion in 2006. It is management's belief that industry leaders such as Expedia, Orbitz Worldwide, Travelocity, and, Priceline.com are not adequately addressing the concerns of business travelers and that Red Branch is uniquely positioned to gain market acceptance.
About Red Branch Technologies
Red Branch Technologies, Inc. makes business travel easier, more secure and more responsive for both the hard-charging business traveler and the corporation by meeting travel needs at each point in the travel cycle. The company's innovative my/mTravel(r) and mTravel(r) products automate the business travel process from planning and booking to en route services and support, through post travel reporting and unused ticket redemption. Red Branch's Magellan360 provides agency and net-delivered back office services to independent professional travel marketers. For more information, please visit: www.redbranchtechnologies.com.
This press release may contain forward-looking statements covered within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply and demand conditions, and other expectations, intentions and plans contained in this press release that are not historical fact and involve risks and uncertainties. Our expectations regarding future events or revenues depend upon our ability to develop and supply products, which we may not produce today and that may need to meet defined specifications. When used in this press release, the words "plan," "expect," "believe," and similar expressions generally identify forward-looking statements. These statements reflect our current expectations. They are subject to a number of risks and uncertainties, including, but not limited to, changes in technology and changes in pervasive markets