PLANO, TX--(Marketwired - Aug 21, 2014) - Ultimate Rack (OTCQB: UTMR) announced today that it has entered into a strategic alliance and definitive consulting agreement with Travopoly Travel ("Travopoly"), an online leisure travel booking firm and tour operator. Travopoly, which owns a portfolio of online leisure travel and invitation-only booking properties, is the largest shareholder of Ultimate Rack. Ultimate Rack plans to expand its business offering in the global travel industry by implementing a growth-through-acquisition strategy in partnership with Travolopy. Travopoly operates a free subscription-based travel booking and membership site at www.travopoly.com.
Robert Oblon, president of Travopoly, stated, "Travopoly's three decades of experience in the leisure travel industry, combined with UTMR's access to the public markets, can create a successful growth-through-acquisition strategy. Together, we are focused on acquiring local, brick-and-mortar travel agencies with existing revenues and a loyal customer base that would stand to benefit from joining a larger, public organization such as UTMR. In addition, Travopoly has a number of branded, booking engines that target very popular destinations worldwide. These online properties, combined with newly acquired agencies in the U.S., can create a diversified portfolio of travel-centric operators."
Oblon added, "According to The World Tourism Organization, an additional 52 million people traveled internationally in 2013, up 5% year-over-year. This number signifies a recovery in the global travel industry and opportunity to acquire smaller operators at a discount. We believe travel will continue to strengthen in 2014 and have already identified a pool of niche and brick-and-mortars for acquisition this year."
This press release contains "forward-looking" statements that are based on present circumstances and on Travopoly's predictions with respect to events that have not occurred, that may not occur, or that may occur with different consequences and timing than those now assumed or anticipated. Such forward-looking statements, including any statements of the plans and objectives of management for future operations, are not guarantees of future performance or results and involve risks and uncertainties that could cause actual events or results to differ materially from the events or results described in the forward-looking statements.
Forward-looking statements are made only as of the date of this release. Management does not undertake and specifically declines any obligation to update any forward-looking statements. Readers should not place undue reliance on these forward-looking statements.