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Illusions Online recognized as the world's fastest growing 50 companies by winning the Fast 50 award
May, 2011

Travel technology provider ranks as one of the world's fastest growing 50 companies in prestigious listing having won the highest number of votes from global CEOs, directors and travel industry heavyweights

Leading travel technology provider Illusions Online has ranked as one of the world's fastest growing 50 companies in a prestigious listing recognising organisations that are leaders in their field.

The Dubai-based firm has been declared a 'Fast 50' award winner (www.thefast50.com) – an initiative by The New Europe magazine, which is based on the votes of some of the world's top directors, CEOs and travel industry notables.

Within the technology category, Illusions was one of three-shortlisted companies announced back in March and of the 4,352 votes cast, the firm received the most votes at 2,901, marking one of the highest majority margins on Fast 50's records.

An e-voting card was sent to more than 75,000 CEOs and company directors worldwide, the entire The New Europe magazine database (both subscribers and its online audience), as well as Illusions' contacts in the UAE and North America and 15,000 company directors and buyers of travel technology at Destination Management Companies and tour operators.

The nominations were followed up by The New Europe's dedicated research team and judged by an independent panel, which comprised current and former FTSE 100 CEOs, a well-documented thought leader and author from a world-renowned business school, the chairman of one of Europe's largest public sector organisations plus for the technology category, a specially-commissioned travel technology expert.

In an interview with The New Europe, which highlighted the success of Illusions Online and its pioneering CEO, Faisal Memon, the company was described as leading the way in "providing a multi-user platform that makes the interaction between the traveller and the world beyond seamless, beyond expectation".

The article praised Illusions for bringing together a "bewildering array of variables" under one platform and encompassing every part of the supply chain.

"People talk about the cloud, we've been on the cloud for years, and it allows us to distribute our platform to the different segments within the travel industry" Memon told The New Europe.

The article also recognised Illusions' market foresight by introducing the Illusions World Travel eXchange (iWTX) solution, which allows Illusions users to share content and products and generate extra business as a result.

"The idea is to be able to connect through our exchange where we have all of our customers' products (inventory) available in one marketplace; it allows them to cross-sell to each other and adds another dimension to the distribution," said Memon. "We are moving on from being another software provider to becoming a distribution partner."

Former winners of the Fast 50 awards have included prestigious organisations like Research In Motion, the company behind the BlackBerry solution, Autodesk, Agility, WWF and Diners Club International. In the travel category, Aloft Abu Dhabi, Movenpick Hotels & Resorts, Hilton Singapore and Quintessentially are some of the big names that have received awards in the past. These are all industry leaders that have reached the very highest levels of achievement in their respective fields, and are companies who are driving their respective industries forward.

This is not the first time Illusions has been recognised for its expertise in the travel technology field having won the Middle East's 'Leading Travel Technology Provider' at the World Travel Awards in both 2009 and 2010 and the coveted 'World's Leading Travel Technology Provider' at the World Travel Awards 2009.

This year is shaping up to be another highly successful year for Illusions, which has already signed deals with some of Asia's largest Destination Management Companies (DMCs) as well as companies in the Middle East.

Source: www.thefast50.com

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