Thursday, July 24, 2008

Elavon Signs Regency Hotel Management and Affiliates for Multi-Year Extension

By Holly Lytle 3-year renewal extends Elavon's credit/debit card processing services to Regency's properties.

July 24, 2008

ATLANTA - Elavon, formerly NOVA Information Systems, a wholly owned subsidiary of U.S. Bancorp (NYSE:USB), has renewed its agreement with Regency Hotel Management and Affiliates (Regency) to provide acquiring services and payment solutions across their North American enterprise which includes more than 50 owned and managed properties in 9 states including Hilton, Radisson, Choice, Best Western and ClubHouse. The 3-year renewal extends Elavon's credit/debit card processing services to Regency's properties.

"Elavon understands the unique challenges that hospitality clients face in payment processing," said Robert Thimjon, CFO of Regency. "Their flexible solutions effectively consolidate payment processing and reporting functions across our properties."

"Regency remains an exceptional client committed to exploring innovative solutions that consolidate their payment needs," said Stuart Harvey, CEO of Elavon. "We appreciate their business, and look forward to the continued delivery of new solutions and excellent service to enhance their efficiency."

Elavon's payment processing solutions for the hospitality market consolidate the payments process across an enterprise - whether from multiple point-of-sale locations within a single property or across a global footprint. From gateway services and VARs to reporting tools that slash chargebacks to half the industry average, Elavon's end-to-end network addresses the unique needs of hospitality and travel and entertainment clients.

About Elavon
Elavon's Global Acquiring Solutions organization is a part of U.S. Bancorp (NYSE: USB). Elavon provides end-to-end payment processing services to more than one million merchants in the United States, Europe, Canada and Puerto Rico. Solutions include credit and debit card processing, electronic check services, gift cards, dynamic currency conversion, multi-currency support, and cross-border acquiring. Elavon's services are marketed through multiple alliance partner channels including financial institutions, trade associations and ISOs. Elavon has solutions to meet the needs of merchants in specialized markets including small business, retail, hospitality/T&E, health care, education and the public sector. Elavon represents the former brands of NOVA Information Systems and its affiliates FHMS and euroConex. For more information visit www.elavon.com.

About Regency Hotel Management and Affiliates
Regency Hotel Management is a full-service hotel management company ranked among the top hotel companies in the country. Management services include initial consultation, pre-opening, and ongoing management contracts, as well as sales and marketing, accounting, financial, consulting, asset management and purchasing. Regency Hotels owns and operates hotels under various franchises and is actively pursuing additional acquisitions and management contracts. Regency has assembled a driven, qualified team to effectively manage hotel properties, evaluate the product, and develop a plan for maximizing market potential and profitability. For more information visit www.regency-mgmt.com.

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