SOURCE: Haz Holdings, Inc.

September 06, 2007 09:15 ET

HAZ Holdings, Inc. Targets Expansion of Hotel Ownership Portfolio

Additional Potential Hotel Acquisitions Are Being Identified to Increase Revenue Potential and Grow Asset Base

FEDERAL WAY, WA--(Marketwire - September 6, 2007) - HAZ Holdings, Inc. (PINKSHEETS: HAZH), which manages a portfolio of full-service hotels, today announced that the company is in the process of identifying additional hotel properties as acquisition candidates for its hotel ownership portfolio as part of the effort to improve its position in the public markets and to attain a future valuation that will attract institutional investors to HAZ Holdings. An increased valuation, coupled with the company's initiative to achieve fully reporting status, is expected to allow HAZ Holdings to pursue a listing for its stock in an appropriate market.

HAZ Holdings currently owns and manages three mid-scale, full-service hotels in the United States and Canada. The company's business strategy is to increase its hotel ownership portfolio by acquiring and operating additional hotel properties. Management has considerable experience and expertise in hotel operations, and they are currently assessing suitable hotel properties to consider for acquisition.

"As a part of our efforts to build the HAZ Holdings hotel ownership portfolio, we are evaluating a number of potential properties for acquisition," stated Dr. Karim Bhanji, CEO of HAZ Holdings, Inc. "We hope to have a fourth hotel property targeted as soon as possible, so we can begin the acquisition process.

"Seeking opportunities for growth is really an ongoing effort for the company, since it is our goal to build HAZ Holdings' revenues and asset value through hotel acquisitions. The value of the properties is considerable, and these assets are expected to play a key role in establishing a valuation that will allow HAZ Holdings to achieve a listing in the appropriate market, especially once we have filed all of our financial reports and have achieved fully reporting status," said Dr. Bhanji.

HAZ Holdings recently announced that it had retained a hotel appraiser specialist to conduct appraisals of its domestic hotel holdings and is also identifying an appropriate Canadian company to conduct the appraisal of the HAZ Holdings' property in Canada. These appraisals will be used as part of the company's asset calculation for financial filings and to satisfy the requirements of institutional investors who are being targeted as future long-term investors for HAZ Holdings.

Gruber & Company, LLC has been retained to complete the HAZ Holdings' past financial statements, including annual reports for the 2005 and 2006 fiscal years, as well as all three quarterly reports for 2007. HAZ Holdings believes that by filing all past financial statements the company can be properly positioned in the public markets as it executes its growth strategy. This effort may include the pursuit of a listing in a market that would attract institutional investors.

"While we will continue to update our shareholders and the broader public markets on the activities and milestones related to the company's current hotel properties, we will also continue to point to HAZ Holdings' acquisition work as the big picture strategy for success as a public company," Dr. Bhanji added.

Shareholders and anyone interested in following the progress of the company are encouraged to subscribe to the company's mailing list located at, through which HAZ Holdings disseminates newly disclosed information, including press releases, notices of SEC filings, investor newsletters and other material, to subscribers directly by email.

About HAZ Holdings, Inc.

HAZ Holdings owns and manages three mid-scale, full-service hotels in the United States and Canada, under the brand names "Hotel Monarchy & Suites" and "Monarchy Inn & Suites" ( HAZ Holdings' five-year business plan is to increase its hotel ownership portfolio by acquiring hotel properties that range in size from 100-300 rooms per property, while concurrently franchising additional hotels under its brand names. The Company's portfolio also includes the following wholly owned subsidiaries: Mortgage and Financial Institute, LLC (, a mortgage brokerage company specializing in commercial and residential lending in Washington and Alaska; Nationwide Hotel Management, LLC, a hotel management company; KB Realty Group International LLC, a commercial and residential real estate sales company; Evergreen Sound Construction, LLC, a commercial and residential development company; and DoTravelDeals (, a global travel booking engine.

This press release may contain "forward-looking statements." Although we believe that the expectations reflected in any forward-looking statements are reasonable, HAZ Holdings cannot guarantee future results, levels of activity, performance or achievements. Actual results may differ materially from the predictions discussed in these forward-looking statements. Changes in the circumstances upon which HAZ Holdings bases its predictions and/or forward-looking statements could materially affect its actual results.

Contact Information

    Gemini Financial Communications
    A. Beyer
    Email Contact