Datalex shares have recovered to their flotation price of €6.80 after the travel software group produced a strong set of third quarter figures. Revenues for the quarter totalled $9.9 million (€11.53 million), up from $3.6 million in third quarter 1999 while losses for the period totalled $11 million.

Datalex and Vail Resorts have set up a joint venture to develop the next generation of reservations technology for resorts and destinations. Datalex is investing $7 million in the joint venture for a 51 per cent stake while Vail is investing $5 million for a 49 per cent stake.