Business Description: Nor1 has developed proprietary technology that enables an integrated "upgrade solution" for hospitality industry operators. When a customer books a room or ticket at a participating company's website, Nor1 offers that customer an opportunity to purchase a larger, more expensive item at a discounted rate, pending availability at check-in. Nor1's upgrade platform has been documented to increase brand loyalty from consumers, and the Company's no-cost deployment and revenue sharing business model provides minimal friction and pure upside for operators. Properties using the Nor1 system typically see property ADR increase by a full point. Within the hotel industry alone the total market for upgrades exceeds $1 billion per year, and additional markets such as airlines, car rental companies, and cruise lines represent a significant opportunity for expansion.
