ST. PETERSBURG, Fla., Dec. 16, 2004 (PRIMEZONE) -- National Hospitality Group., Inc. (Pink Sheets:NHGP) announced today that its subsidiary Tampa Bay Mortgage Solutions Inc. will not raise interest rates in order to increase its market share and retain its current client base.
Damian Guthrie, President of NHGP stated, "We are pleased to keep our interest rate levels consistent with previous levels to retain our clients and increase our market share. It's this consistency which will lead to increases in revenues and earnings."
The National Hospitality Group, Inc. operates through it's wholly-owned subsidiary Tampa Bay Mortgage Solutions, Inc. which is a direct lender specializing in short term asset based lending. The company specializes in acquisition financing, construction loans, and lines of credit for builders. The mission of the company is to build a diverse portfolio of debt and equity instruments that will provide the shareholders with both current income and capital appreciation. The specialty of the company is "hassle free hard equity loans." The company has a web site http://www.nhgp.net.
The release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involves 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 business conditions, and the ability to attract and retain skilled personnel. 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.