The offer provides 42 million SkyMiles members with the opportunity to earn miles with LimoRes.net, Delta’s exclusive luxury transportation provider. The program extends to customers who place an order for any type of vehicle with LimoRes.net.
“We’re gratified that Delta selected us as their exclusive provider, which will enable us to reward our customers with the benefits of the world-class SkyMiles program,” said LimoRes.net Chief Executive Officer Alex Mashinsky.
The arrangement with Delta marks another important step in the company’s evolution into a dominant global transportation service provider.
“LimoRes.net offers travelers the added convenience of luxury car service available upon arrival at the airports we serve worldwide with the added bonus of earning Delta SkyMiles that can be redeemed for award travel to the more than 376 destinations we serve across the globe,” said Marc Ferguson, general manager of SkyMiles Domestic Partnerships.
LimoRes.net is the first company to create an efficient electronic reservations market for limousine services. Matching the supply of available vehicles with ridership demand, LimoRes.net provides real-time, competitive pricing for fares online, in all major cities worldwide.
Operating in 172 countries and at more than 5,000 airports, LimoRes.net guarantees five classes of service at competitive prices by auctioning each ride off to the lowest bidder among more than 7,000 affiliated limousine services. Revenue at the company grew from $100,000 in 2003 to $20 million in 2007 and is projected to reach $30 million in 2008. So far, the company has raised $20 million from investors to accelerate expansion.
LimoRes.net is the latest venture founded and headed by Mashinsky, a serial entrepreneur who founded Arbinet (ARBX), the telecom industry’s largest digital goods trading platform with revenues of more than $500 million, as well as Q-Wireless, a partner in the $200 million project to enable cell phone use in the New York City subways.
There are more than 15,000 limousine providers around the world today, but less than 1% of them operate 24/7/365. LimoRes.net has made the investments necessary to provide a centralized, fast and predictable worldwide service online or over the phone for handling the quoting, booking and execution of transactions. LimoRes.net has rationalized a huge, fragmented market for ground transportation, slashed reservation costs and error rates, and created streams of transparent transaction data that corporations can use to track usage and control costs while providing reliable, efficient service to its executives.
Employing powerful algorithms, LimoRes.net exploits market inefficiencies and removes the friction from pricing as it bids jobs to providers affiliated with its network. Prices paid to suppliers adjust according to demand based on existing and anticipated conditions.
LimoRes.net, which makes money on the spread between what it pays car operators and what it charges riders, is growing increasingly popular among cost-conscious law firms, hedge funds and bankers who want to rely on a one-stop supplier with a fully automated system that cuts administration costs associated with monitoring and processing vouchers.
For further information, also please see www.limores.net and www.mashinsky.com .
LimoRes.net is a ground transportation service operating in more than 172 countries and 5,000 airports worldwide. Its online limousine reservation system provides real-time prices and one bill for more than 14 different vehicle service classes and in four different service levels. For more information, please visit www.limores.net.
Terms and conditions:
All SkyMiles program rules apply. To review the rules, please visit delta.com/memberguide. Taxes and fees for award travel are the responsibility of the passenger and must be paid at the time the ticket is booked. Award travel seats are limited and may not be available on all flights or in all markets. ©2008 Delta Air Lines, Inc.