Oriens Initiates Primary Acquisition
May 29 2014 - 8:27AM
Marketwired
Oriens Initiates Primary Acquisition
LAS VEGAS, NV--(Marketwired - May 29, 2014) - Oriens Travel
& Hotel Management Corp. (PINKSHEETS: OTHM), the Next
Generation International Hotel Brand Operator, announced today,
that the Company has officially initiated the acquisition process
of its first property in Jaco Beach, Costa Rica.
"A forty-two unit beach front property sitting on Jaco's
beautiful shoreline, I couldn't be more pleased than to have this
be our first true real estate and branding venture," stated Ken
Chua, President of Oriens Travel & Hotel Management.
Management indicated that while this property stems from the
original anticipated transaction contemplated during the 1st
quarter of the year, the current transaction is projected to be
much more lucrative. The viability of the acquisition is
further substantiated by the Company having raised non-toxic money
to formally initiate the acquisition process (paying fees, down
payments, assumed interest, etc).
It is expected that upon the completion of the acquisition,
Oriens will immediately move to begin marketing the image of the
property under its brand, which will be supported by the Company's
new FROL (Friendly Reservations Online) booking system.
Mr. Chua concluded, "It has been a longstanding goal to create a
footprint within this region. By deploying our new real
estate, branding and online booking engine model in the rapidly
growing tourist destination of Jaco Beach, we are quite confident
we will be able to build a valuable and profitable business."
Management indicates that this first acquisition of hard assets
should deliver roughly $8 million more than expected.
About Oriens Travel & Hotel Management Corp.
(www.orienscorp.com) (PINKSHEETS: OTHM) engages in the operation of
hotels and resorts primarily in the United States and Central
America under the Hotel PURE brand. The company also operates
Friendly Reservations Online, a proprietary and sophisticated
online booking system designed to execute reservations capture
through Hotel PURE consumer facing websites, as well as individual
hotel websites operated by Oriens on behalf of hotels branded under
the Hotel PURE brand. Oriens is based in Las Vegas, Nevada.
Safe Harbor Statements in this news release that are
not historical facts, including statements about plans and
expectations regarding products and opportunities, demand and
acceptance of new or existing products, capital resources and
future financial results are forward-looking. Forward-looking
statements involve risks and uncertainties which may cause the
Company's actual results in future periods to differ materially
from those expressed. These uncertainties and risks include
changing consumer preferences, lack of success of new products,
loss of the Company's customers, competition and other factors
discussed from time to time in the Company's filings with the
Securities and Exchange Commission.
Related Links:
Blog: http://orienscorp.wordpress.com/ Twitter: @orienscorp
Facebook:
https:/www.facebook.com/pages/Oriens-Travel-Hotel-Management-Corp
Contact: Team Oriens IR Div. (702)
483-0318
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