IBAC's Southern Hospitality Division
|PINE BLUFF, Ark - Oct. 3, 2005 -- Roy E. Adkins Jr. has been appointed
Comptroller of IBAC Corporations Southern Hospitality Division, The Division
consists of The Royal Arkansas Hotel & Suites, The Memphis Airport
Hotel & Restaurant and National Hospitality Management Co. Mr. Adkins
will be responsible for all financial management of the division.
"The appointment of Roy E. Adkins Jr. with his fiscal expertise and his understanding of the hospitality industry will be a tremendous asset to our team," commented Garry Becker President of The Southern Hospitality Division. "I look forward to his contributions as we plan and execute strategies for achieving The Company's ambitious growth plans."
Edward W Hayter, IBAC Corporations. President and Chief Executive Officer noted, "Roy E. Adkins Jr. will bring a unique perspective to the Southern Hospitality Division. His sharp business acumen will be of great value as the division aggressively pursues new and innovative projects & additional properties," his first order of business will be to solidify all procedures & finances for the division's upcoming audit with in the next 30 day's as to meet the company's time frame to have all operations audited by our Independent Auditors, for our anticipated merger with a fully reporting OTCBB company."
Adkins was graduated from Florida Metropolitan University with an MBA and a B.S in Business from West Virginia Institute of Technology. He has worked as Comptroller for Hilton, Boykin Management as Regional Comptroller, and Wintergreen Resort as Comptroller & Safety Harbor Resort & Spa.
About IBAC Corporation:
IBAC Corporation is a New York-based holding company operating through its subsidiaries within the Hospitality, Food Service & Restaurant business and other industries. IBAC now operates businesses and employs over 100 people in Florida, Tennessee & Arkansas that includes a 200 room full service hotel, 127 room limited hotel, 5 restaurants/lounge and 10,000 sf of banquet space and the exclusive concession, food, beverage & catering contract with the Pine Bluff Convention Center.
IBAC operates through its subsidiaries, The Sanibel Restaurant Group/The Royal Arkansas Hotel & Suites/National Hospitality Management Services/Monarch Entertainment Group Worldwide/Memphis Airport Ramada; IBAC intends to grow aggressively throughout the next three years, through acquisitions, mergers and the building of new establishments. Visit the company website at www.ibaccorp.com.
This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
|Also See:||IBAC Corporation Takes Possession of the Memphis Airport Ramada Hotel & Restaurant; Total Acquisition Cost for 127 room Property Was $1,925,000 / July 2005|