LAS VEGAS, NV--(Marketwired - Jan 19, 2017) - Pure Hospitality Solutions, Inc. (OTC PINK: PNOW), parent Company of the Central American-Caribbean Online Travel Agency (OTA) Oveedia and Numismatic Specialty Store (Meso Numismatics) announced today, that the Company will take full advantage of its rapidly increasing revenues by streamlining operations and focusing largely on stabilizing growth through its numismatic operations, while its travel technologies continue to mature.
Since the full acquisition of Meso Numismatics in late 2016, the Company has seen consistent cash flow, a lighter burn rate with a continual growth in revenue and exceptional market opportunity.
To bring Pure's numismatic market's value into perspective, just this past week, Heritage Auctions -- a platform where Pure's subsidiary, Meso Numismatics, will soon offer its collections -- exceeded sales of over $65M for the week, simply selling numismatic material.
The bottom line is, the costs associated with goods sold are fairly low. Associated operating costs are relatively minimum. Profit margins are exceptionally high, and the opportunity for growth -- particularly in the Company's Central American-Caribbean market niche, remains tremendous.
"This is a no brainer," stated Mr. Melvin Pereira, President and CEO. "We're here to make money and build shareholder value by any 'responsible' means necessary. To me, there is nothing more responsible than identifying the high costs of marketing and booking a single room online vs. the slim revenue produced by that booking, as in no way comparing to the much lower cost of marketing and product acquisition of numismatic pieces vs. the very high rate of return and profitability produced in nearly each sale. There is simply no comparison! The fact is, building this profitable and sustainable business unit, which still carries the Central American-Caribbean theme, is the best way to ensure any and all of our other Central American-Caribbean ventures, such as our OTA, have the greatest chance for success."
At the close of 2015 -- entering 2016 -- the Company launched the first iteration of its online search and booking engine OTA (Online Travel Agency). After partnering with multi-billion dollar Sabre and leading visual travel media resource, Leonardo Worldwide, Pure virtually assured the success of its OTA, while management looked to develop the primary business model -- hotel booking in the Central American-Caribbean region of the world. In the meantime, however, in order for the Company to generate revenues, it would have to pursue "average bookings"; meaning those that almost any OTA can book -- at great cost, ultimately to the shareholder.
Mr. Pereira continued, "Making this short pivot, as a means to fulfill our duties of building a profitable and sustainable company, makes all of the sense in the world to me. We didn't have to borrow lots of money. Which means, not rebooting toxic debt deals and not succumbing to unmanageable dilution; all good news for shareholders who want to see growth from the revenues we are earning."
Management remains committed to driving its OTA model, only once the next iteration is complete and it can take full advantage of all the featured properties it currently has signed on, in queue and prospected. Travelers are still able to book hotel stays at any one of the 125,000+ properties offered on the Oveedia platform.
Mr. Pereira concluded, "For the time being, we will remain primarily focused on what is building stability, shareholder value and ringing the cash register daily! This includes tapping into our $3 Million partnered inventory, establishing new inventory partnerships, global tours with our numismatic materials, continuing online sales and presenting collections at Heritage Auctions, as well as Lyn Knight Auctions, Stacks Bowers Auctions, and more. We are proud of what our financials are shaping up to be and are fully confident, now more than ever, that PNOW is completely undervalued as our revenues continue to grow."
About Pure Hospitality Solutions, Inc.
PURE provides proprietary technology, marketing solutions and branding services to hotel operators and condominium owners. The Company's vision is to build competitive operations in the areas of (i) online marketing and hotel internet booking engine services, (ii) hotel branding and, (iii) own, operate and in some instances develop, boutique hotels under the new, "by PURE" brand. PURE is the creator of Oveedia, the Central American-Caribbean online travel hub.
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.