MORRISTOWN, N.J., Nov. 16, 2006 (PRIMEZONE) -- Crystal International Travel Group (OTCBB:CINT) announced today that it will be launching its patent pending process 'IntelliFares(tm)' by the end of the month.
Fabrizzio P. Busso-Campana, CEO of Crystal International, described IntelliFares "as a way for travelers to purchase the next five years' worth of air travel at one fixed price, what we at Crystal International like to call 'Tomorrow's Travel at Today's Prices.'" For example, Mr. Busso-Campana continued, "if you are what we call a Predictable Pattern Traveler, like a vacation timeshare owner, and you need to get to Aruba from New York on the same week each year, IntelliFares is for you. With IntelliFares, you will be able to lock in the same price for this year's air tickets for the next five years... so you will save on average over 20% per year."
Initially, Crystal International is planning on launching IntelliFares in markets where there is a very high concentration of vacation timeshare owners, such as the New York metro area to Aruba and Mexico, as well as various west coast markets to Hawaii and Mexico. Mr. Busso-Campana stated that "our quantitative research, a national projectable study conducted by Insight Express, showed 49% purchase intent on the product among timeshare owners, and over 90% purchase intent amongst those owners who put their property into a rental pool... which represents 5.5% of timeshare owners." "These data," the CEO explained, "get even more encouraging when you look at respondents who believe the cost of airline transportation will increase in excess of 5% per year, which is over 54% of the research participants." There are over 4.2 million U.S. owners of domestic timeshare weeks, and over 7 million including ownership in Mexico, the Caribbean and Canada.
Crystal International has already made arrangements with distribution partners in the travel agent and time share development communities who will also be announced as part of the formal launch. "Our distribution partners are very excited since it could represent a vital new income stream for agents and time share developers and a terrific way for air carriers to plan for and manage future yield," the CEO concluded.
Crystal International also explained that the initial product is priced to yield the distributor a six percent commission and that its patent pending process is planned to be launched as part of a broader suite of services with air travel as the lead component. "When you become a member of the IntelliFares Family, we plan to offer further savings for other travel related services and other amenities frequent travelers expect," according to Peter Gallic, CFO of Crystal International and one of the inventors of IntelliFares, "plus some other surprise benefits unique to the brand will be announced after IntelliFares is launched and the business evolves. As our financial guy, we expect the product will add visibility to our revenues and profits, and we will be better able to provide guidance to the investment public after a few months' experience."
IntelliFares(tm) is a registered trademark and patent pending process of Crystal International Travel Group.
Safe Harbor Statement: This press release contains forward-looking statements, which are made pursuant to the Safe-Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect the views of Crystal International Travel Group, Inc.'s (the "Company") management regarding current expectations and projections pertaining to future events and are based on currently available information. These forward-looking statements involve a number of risks and uncertainties, including the ability of the Company to build out the IntelliFares(tm) product and generate sufficient sales of the product, and the successful completion of its distribution network, and other factors described in the Company's respective filings with the Securities and Exchange Commission. Other unknown or unpredictable factors also may have material adverse effects on the Company's business, financial conditions and results of operations. Accordingly, readers should not place undue reliance on these forward-looking statements. The use of words such as anticipates, estimates, expects, is in process, intends, plans and believes, among others, generally identify forward-looking statements; however, these words are not the exclusive means of identifying such statements. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. These forward-looking statements are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict.
The Company is not under any obligation and does not intend to publicly update or review any of these forward-looking statements, whether as a result of new information, future events or otherwise, even if experience or future events make it clear that any expected results expressed or implied by those forward-looking statements will not be realized.