SILVER SPRING, MD— Choice Hotels International has entered into an agreement with the Caribbean Hotel Association (CHA) that gives CHA access to the technology, vendor relationships and purchasing power of ChoiceBuys.com, Choices e-procurement system. The agreement calls for the creation of CaribBuys.com, an e-procurement system that employs ChoiceBuys.coms technology platform and is available to CHAs 35 affiliated island nation associations and 900-plus hotel membership. Additionally, the agreement is crafted to give CaribBuys.com users access to the leveraged purchasing power of ChoiceBuys.com, and endorsed vendors participating on the Choice site may also elect to participate on the CHA site. According to the agreement, Choice will receive revenues via an annual licensing fee, subscription fees from participating vendors and transaction fees. CaribBuys.com is slated to launch in the fourth quarter of 2002. As of June 30, 2002, Choice franchisees had purchased nearly $5 million in products and services via ChoiceBuys.com.
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