| Travel Services International, Inc. | |||
| Ticker: | TRVL | 4701 Sangamore Road, Suite P15 | |
| Exchange: | NASDAQ-National Market | Bethesda, MD 20816 | |
| Industry: | Transportation (SIC Code 4724) | (301) 320-7811 | |
| Type of Shares: | Common Shares | Filing Date: | 5/14/97 | |
| U.S. Shares: | 2,500,000 | Offer Date: | 7/22/97 | |
| Non-U.S. Shares: | 0 | Filing Range: | $11.00 - $13.00 | |
| Primary Shares: | 2,500,000 | Offer Price: | $14.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.98 | |
| Offering Amount: | $30,000,000 | Selling: | $0.56 | |
| Expenses: | - | Reallowance: | $0.10 | |
| Shares Out After: | 8,463,892 |
| Manager | Tier | Phone |
| Montgomery Securities | Lead Manager | (415) 627-2100 |
| Issuer's Law Firm: | Akin, Gump, Strauss, Hauer & Feld |
| Bank's Law Firm: | Fulbright & Jaworski |
| Auditor: | Arthur Andersen |
| Registrar/Transfer Agent: | American Stock Transfer & Trust Co |
Dollar amounts in U.S. millions except for per share data | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/96 | 12/31/96 | ||||
| Revenue: | $53.03 | Assets: | $50.83 | ||
| Net Income: | $2.83 | Curr Assets: | |||
| EPS: | $0.43 | Liabilities: | $38.52 | ||
| Prior EPS: | Curr Liabilities: | ||||
| Cash Flow/Oper: | Equity: | $12.31 | |||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company was established to create the leading single source distributor of specialized leisure travel services to both travel agents and travelers. The company is a specialized distributor of travel services providing airline and cruise reservations. Unlike travel agents, specialized distributors such as the Founding Companies focus on a single segment of the travel service industry and thus provide a greater level of expertise with respect to their segments. Specialized distributors offer travel providers, such as airlines, cruise lines and auto rental companies, an alternative distribution channel through which significant amounts of capacity are sold in return for preferential pricing. Through consolidation of specialized distributors, the company will be able to offer both travel agents and travelers a single source of competitively priced services and extensive expertise within and across multiple leisure travel segments. The Founding Companies are specialized distributors of the following leisure travel services: domestic airline reservations, international airline reservations, cruise vacations and European auto rentals. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to pay the cash portion of the purchase price for the Founding Companies and general corporate purposes including future acquisitions. |