GLOBAL BUSINESS PASS is a new application of an old idea introduced for North Atlantic business class scheduled services. Its use applies to Delta, Air France and Alitalia and it uses a dedicated, web-based reservations system as the booking device between the client and the airlines. The basis of the scheme is the purchase by corporations of a block of travel with claimed savings on current published fares of as much as 50%. The travel management system allows companies to produce instant budget reports of any travel taken using the Pass. Behind the scheme is the Bermuda-based Royal Ocean Group. Global Business Pass Worldwide Hotel Units operate in a similar way and give access to specially discounted one-night stays at hundreds of Marriott hotels worldwide. In a form of guarantee, all monies paid up front go direct to Butterfield Trust, part of the Butterfield Bank, Bermuda's oldest financial institution dating from 1858.