LAS VEGAS -- Sabre [NYSE: TSG] , a leader in electronic travel distribution, today announced it is making a strategic equity investment in Passkey.com, Inc., the leading provider of Internet-based convention housing and group reservation management technologies. As a result of the agreement, Sabre will take a seat on Passkey.com's board of directors.

At a press conference held at the 85th annual convention of the International Association of Convention and Visitors Bureaus, the companies announced their formation of an alliance to develop and build an industry-unique interface combining Sabre's air, car and hotel resources with Passkey.com's group hotel room block management system. The alliance will provide meeting planners and attendees with one-stop-shopping to book air, car and hotel reservations via the Internet as well as through group reservation call centers and Sabre connected travel agencies.

"Sabre will essentially integrate its functionality with Passkey.com's group booking capability to create a unique and compelling product for the group meetings industry," said Roger Paradis, president and chief executive officer of Passkey.com. "This partnership positions both companies to add value to their customers and suppliers by simplifying the booking process for meeting planners and group travelers."

According to Scott Alvis, Sabre's senior vice president of associate marketing and sales, the company's travel agency network will have access to new technology that will enable Sabre connected travel agencies to participate in the group meetings business. Hotels, airlines and car companies will benefit by participating in an automated, efficient booking channel for the group traveler through the Sabre computer reservations system (CRS).

"Passkey.com has gained a substantial market leadership position with its automated solutions for the group meetings industry," said Alvis. " Together, we expect to create exciting products that provide leading-edge technology to group and leisure travelers as well as travel suppliers."

By integrating Passkey.com's product with the Sabre CRS, a traveler's air, car and group hotel information will be consolidated in a single record while creating a seamless tool for booking all major components of travel. Sabre and Passkey.com plan to continue improving their joint technologies to bring further efficiencies to the booking process.

Sabre is a world leader in the electronic distribution of travel and is a leading provider of information technology solutions for the travel and transportation industries, including customized software development and software products, transaction processing, consulting and total information technology outsourcing.

Passkey.com, Inc. (www.passkey.com), is the leading provider of Internet- enabled convention and group hotel reservations solutions for the $83 billion meetings and convention industry. It provides Internet-based convention housing management and processing technology to convention and visitors bureaus (CVBs) in Atlanta, Baltimore, Boston, Cleveland, Detroit, Kansas City, Minneapolis, Nashville, Orlando and St. Louis. Passkey.com connects all industry participants, using Internet-based software and a shared, centralized reservation database to automate and simplify the complex tasks of making, managing and acknowledging group reservations. Passkey.com, Inc. is headquartered in Quincy, Massachusetts.