CHICAGO— Ibart 4.0, the first online barter booking travel application designed specifically for hotels and resorts, launches on March 6, 2002 during Comdex Chicago. Ibart 4.0 can potentially turn millions of dollars in unsold hotel rooms into barter dollars, redeemable for bottom line expenses like advertising and supplies. The browser-based software has a GUI reminiscent of Priceline.com, allowing registered users to book a room nationally using barter dollars instead of cash. Ibart 4.0 functions in a manner typical of online booking services. Once a user has opened a barter bank account, they choose a date of travel, city, hotel and a room price. The request is forwarded to the hotels in the specified area that can fulfill the request and a reservation number assigned. On the back end the order is placed directly with the hotels online reservation system. Once the transaction is accepted the barter dollars are deducted from the members account.
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