- John Davis (entrepreneur)
Infobox Person
name = John Davis
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birth_name = John F. Davis III
birth_date = 1953
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nationality = American
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other_names = John F. Davis, John Davis III
known_for = Former Chairman and CEO of Pegasus Solutions Inc
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alma_mater =Texas Christian University
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occupation =Businessman
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boards = TRX Inc, Texas Christian University
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footnotes =John F. Davis III (b.1953) is a millionaire entrepreneur and is the former the chairman and CEO of Pegasus Solutions Inc. Davis is considered a visionary of hotel technology by many.fact|date=September 2008
Early life
Davis graduated
Texas Christian University inFort Worth ,Texas and began his business-career in 1978 when he served as president of Mid-South Drilling Co.Career
1-800-Flowers
In 1982 Davis and business partner Jim Poage took ownership of
1-800-Flowers , a toll-free ordering system for the floral industry. It was in this company where Davis built up his business experience. [cite news | first=Cheryl | last=Hall | coauthors= | title=1-800-FLOWERS heartbreak sent entrepreneur to hotels | date=January 8, 2005 | publisher= | url =http://www.dallasnews.com/sharedcontent/dws/bus/columnists/all/stories/010905chall.2cf8f.html | work =Dallas Morning News | pages = | accessdate = 2008-09-16 | language = ]ATC Communications and Pegasus
Davis sold 1-800-Flowers and founded ATC Communications and in 1989, he launched the Pegasus Electronic Distribution Switch technology, a system created to link central reservation systems for hotels with major global airline distribution systems.
In growing Pegasus, Davis had to get participation from some of the world's largest hotel chains, many of which were arch rivals. His ability to get these companies to see beyond competitive issues, grasp how automation and technology could serve the industry as a whole was, observers say, paramount to Pegasus' initial success.fact|date=September 2008
Pegasus followed this model again in successfully launching Hotel Clearing Corporation which has become the leading processor of travel agent and other commissions across hotel companies.
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quote="I believe in delegating and I want to make sure that everyone (in the company) has the tools they need to be successful."|source=John F. Davis III|align=right|width=50%In 2000, he led Pegasus' acquisition of REZsolutions Inc., a marketing and reservation provider in the hotel industry. As a result of the acquisition, Pegasus grew from 150 employees to 1,500 employees in 11 countries.".
Pegasus went public in a very successful initial public offering (IPO) in 1998. The company positioned itself as an electronic commerce company and saw its valuation soar to several times the original offering price. The stock fell during the dotcom bust back close to the original IPO price. In 2007, the company was taken private by a Boston based private equity firm Prides Capital. [cite news | first= | last= | coauthors= | title=Pegasus Solutions, Inc. to be Acquired by an Equity Group Led by Prides Capital Partners, LLC | date=19 December 2005 | publisher= | url =http://www.hospitalitynet.org/news/4025704.html | work = | pages = | accessdate = 2008-09-16 | language = ]
On June 11, 2008 Davis left Pegasus 'to pursue other opportunities', effective immediately.
Other activities
Davis serves on the board TRX Inc. and on the board of trustees of Texas Christian University.
References
ee also
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Travel technology
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