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.