|By Marketwired .||
|July 6, 2014 09:43 PM EDT||
LAS VEGAS, NV -- (Marketwired) -- 07/06/14 -- Oriens Travel & Hotel Management Corp. (PINKSHEETS: OTHM), the Next Generation International Hotel Brand Operator, operating its Hotel PURE brand, announced today that in response to excited comments received by management, Oriens is providing a recap following OTHM's Growth Value and Confidence Shareholder Update.
As the Company looks to finalize the first Costa Rican property acquisition, it should be noted that Oriens is on schedule. This purchase will provide Oriens with the opportunity to significantly increase its asset base, as well as provide revenues upwards of $8 million, within a two year window.
The business opportunities Oriens has been introduced to in the Jaco real estate community should not be underestimated. It goes without saying that these business alliances have enabled Oriens to achieve corporate milestones; enabling the Company to reel in nearly $50M in collective assets now in negotiations for acquisition. This is in addition to those relationships which essentially secured Oriens position with BW Point condominium Trust LLC SRL, to secure the Company's interest in the 15-story, 42 Unit (plus penthouse) beachfront property at Jaco Beach, Costa Rica.
"This is only the beginning," stated Ken Chua, President of Oriens. "With the re-launch of both our FROL (Friendly Reservations Online) and the 'Hotel PURE' brand, as well as the PCOAB audits, we are busy. Our success is imminent."
The shareholder update shed some light on the status of the Hundley & Associates LOI, which has "...been put on hold for the time being," as noted within the update (http://orienscorp.wordpress.com/2014/07/02/shareholder-update-to-the-point/). However, as noted, "...the unexpected adjustment has not hindered Oriens' progress forward." This is evident by the strides the Company has made thus far. With regards to the shareholder event intended to be hosted in Costa Rica, event coordinators will continue organizing the event based on the Company's new and more fruitful accomplishments.
Management also announced that it formally initiated the process to begin phasing in a program to systematically reduce the authorized shares as logistically viable. The first reduction should be reflected within the month, as the legal process requires several business days to complete the task. The Company also identified its preferred auditing firm [whereby a formal proposal was issued to Oriens]. Expectations include engagement within the month.
As Mr. Chua concluded in the shareholder update, "How exciting! To have walked this path with you. We are thankful for those of you who have supported us and had the resolve to hang in there. We hope to continue hitting our benchmarks and build for you, an incredible sense of confidence and value in Oriens Travel & Hotel Management Corp. as a long-term shareholder."
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.
Shareholder Update: www.orienscorp.wordpress.com/2014/07/02/shareholder-update-to-the-point/