News for the Hospitality Executive
LAS VEGAS, NV-- May 10, 2011 - Orien's Travel & Hotel Management Corp. (PINKSHEETS: OTHM) www.OriensCorp.com, the Next Generation Eco Friendly Global Boutique Hotel Brand Operator, operating the Hotel PURE brand (www.HotelPURE.com ), announced that the company has entered into final stage negotiations to make its first real estate acquisition; bolstering Oriens' eco-friendly Hotel PURE brand portfolio while executing on the company's broader growth and expansion plan, hotel real estate ownership.
Ken Chua, President and CEO of Oriens, stated, "We intend to do more than just flag properties with our eco-friendly Hotel PURE brand. Through strong and steady acquisitions, we will strengthen Oriens' shareholder value significantly while proving our ability to compete on Hilton, Marriot and Sheraton levels, making our eco-friendly Hotel PURE a household name."
The hotel targeted for acquisition is what Mr. Chua calls "a gem of a property," especially as the company's first purchase. Well positioned in the city of Atlanta, GA, the 150 plus room hotel sits on a 3.59 acre parcel of land next to the Six Flags Theme Park, it maintains many amenities such as fitness center, business center, swimming pool and a recently built 5,000+/- sq ft conference center (currently renting at $2500 daily). With an anticipated value of $3 million, management expects to execute on a LOI this week, securing a purchase price of nearly 80% lesser the replacement value.
Mr. Chua continued, "The property is already operating in the black, producing a positive NOI of roughly 15% yearly based upon only 25% average occupancy rate in 2010. Once we deploy Hotel PURE, eco-friendly hotel branding, internet booking platform technology for internet hotel bookings management along with our unique and powerful online reservation system, the property should see a 15% to 28% increase to the trailing 12 months occupancy rate."
Management suggests that it's purely on the merit of the company's agile and unique business model that allows for Oriens to identify solid real estate investment opportunities such as this. Currently representing over 30 hotels, and with close to 10 new properties joining the Hotel PURE eco-friendly Hotel PURE hotel branding, internet booking platform technology for internet hotel bookings, executives contend that the company's portfolio will boast nearly 100 hotels during by 2012 with more than 10% of those properties being eco-friendly hotels that the company will actually own.
Mr. Chua concluded, "Should all go well this week, with the assistance of our New York based consulting firm, this will likely be the first of several purchases made in this 2011. I strongly believe it will be this type of continued action that will drive, build and support strong shareholder values."
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. For more information visit their corporate fact sheet http://premierstocks.tv/images/company_links/OTHM.pdf
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.
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