Visa U.S.A. and Prime Hospitality Introduce Enhanced Hotel Data Reporting

Visa U.S.A. and Prime Hospitality announced today a partnership that will streamline the process of business travel expense reporting by providing enhanced hotel folio data on all Visa commercial payment transactions.

Prime Hospitality is the first hotel company working with Visa U.S.A. to provide this additional service for business travelers at more than 200 hotels under the AmeriSuites and Wellesley Inns & Suites brands. Utilizing Property Management Systems and Centralized Services provided by Multi-Systems, Inc., a leading supplier of technology for the hospitality industry, the folio data is extracted from a central data warehouse and delivered to Visa in an XML format. JPMorgan Chase, a Visa commercial payment card issuer, will be the first Member bank to provide this service to corporate clients. Enhanced folio data includes such detailed transaction information as room rates, telephone charges, total tax, and other items typically included in a folio invoice.

"Demonstrating again that Visa is the best way to pay, our partnership with Prime Hospitality saves the business travel manager two things they highly value - time and money," said Michael L. Dreyer, Senior Vice President, Commercial Solutions, Visa U.S.A. "The enhanced information we're able to provide helps companies to more efficiently manage and track expenses while delivering real bottom line benefits to travel and entertainment budgets."

Business travelers paying with Visa commercial payment products will experience the familiar process of hotel checkout, as nothing changes during the typical hotel transaction on the business trip. However, itemized expenses incurred during the hotel stay can now be passed electronically to the issuing financial institution, which then will pass the data to their corporate clients, ultimately resulting in substantial benefits for travelers and travel managers alike.

"At Prime Hospitality travel properties, we are focused on the quality and comfort of our business travelers' entire travel experience," said Jack McHugh, Vice President of Sales for Prime Hospitality. "We understand what it takes to earn our customers' business day in and out by bringing new value added propositions to the equation. Partnering with Visa enables us to provide another value added benefit to one of our most important customer groups."

Using the strength of Visa's proprietary payment network, VisaNet, JPMorgan Chase will provide the enhanced folio data to their corporate clients and Visa commercial products users. This enhanced data can easily integrate with company accounting software, allowing travel managers to more accurately distribute costs to specific accounts and streamline the expense reporting process. Additionally, travel managers can use the enhanced data to increase controls regarding travel policy compliance and enhance vendor relations.

"At JPMorgan Chase, we are very excited to be working with Visa U.S.A. and Prime Hospitality to address this longtime need in the business travel marketplace," said Gene Ryzewicz, Senior Vice President of JPMorgan Chase Commercial Payment Solutions. "By adding enhanced folio data to our PaymentNet online reporting system, we continue to lead the commercial card industry in offering vital information to travel managers and corporate travelers."

According to a recent survey of members of the National Business Travelers Association (NBTA), hotel folio data is a high informational priority for corporate travel managers. In fact, more than half of those travel managers surveyed said they would even consider changing lodging partners in order to receive the information.

About Prime Hospitality

Prime Hospitality Corp., PDQ, one of the nation's premiere lodging companies, owns, manages, develops and franchises approximately 235 hotels throughout the United States. The Company operates two proprietary brands, AmeriSuites® (all-suites) and Wellesley Inns & Suites® (limited-service). Also within Prime's portfolio are owned and/or managed hotels operated under franchise agreements with national hotels chains including Hilton, Radisson, Sheraton, Holiday Inn and Ramada. Prime can be accessed via the Internet at: www.primehospitality.com.

About JPMorgan Chase

J.P. Morgan Chase & Co. is a leading global financial services firm with assets of $713 billion and operations in more than 50 countries. The firm is a leader in investment banking, asset management, private equity, custody and transaction services, retail and middle market financial services, and e-finance. Headquartered in New York, JPMorgan Chase serves more than 30 million consumer customers and the world's most prominent corporate, institutional and government clients. The JPMorgan Chase Commercial Card Group offers customized Purchasing Card, Corporate T&E and Fleet Card, and integrated functionality One Card programs.

About Visa U.S.A.

Visa is the world's leading payment brand and largest consumer payment system, enabling banks to provide their consumer and merchant customers with the best way to pay and be paid. More than 14,000 U.S. financial institutions rely on Visa's processing system, VisaNet, to facilitate over $810 billion in annual transaction volume - including more than half of all Internet payments - with virtually 100 percent reliability. U.S. consumers carry more than 353 million Visa-branded smart, credit, commercial, stored value and check cards, accepted at approximately 22 million locations worldwide. Visa has long led the industry in developing payment security standards, and has been named the most trusted payment brand online. Visa's people, partnerships, brand and payment technology are helping to create universal commerce - the ability to safely conduct transactions anytime, anywhere and by any device. Please visit www.visa.com for additional information.