LAS VEGAS, NV--(Marketwired - Apr 5, 2016) - Pure Hospitality Solutions, Inc. (
Pure files 2015 year end disclosures on the heels of receiving an exclusive invitation to meet with SITCA (The Secretary of Central American Tourism Integration). Representatives from Canatur were also present, which was an opportunity for the Company to further Oveedia's value proposition within the Latin American (LATAM) online travel industry.
The 2015 year end disclosures also reveal the success of several initiatives introduced throughout the year. The most notable initiative -- the release of Pure's flagship product Oveedia -- beta launched on October 9th, 2015. After a very successful launch of the search engine, the Company was able to secure additional long-term financing, which supported the successful release of the second part of the OTA -- Oveedia's booking engine. This, on the heels of Oveedia booking its first reservation, along with many subsequent reservations to date, the Company has successfully generated its first revenues from online travel. Management, having now set the course for Pure to prove out its business model as a premier online travel agency for the Central American-Caribbean region of LATAM, has well positioned the Company for growth and investment opportunity.
As Pure files 2015 year end disclosures, another notable point was the reduction of over $5 Million in debt and interest in 2015.
This subsequently set the stage for the Company's 2016 transition into the next phase of an already accelerated Debt Reduction Program. Securing additional long-term capital to forward this initiative, the Company launched the Debt Repurchase Program -- targeting the removal of toxic legacy debt. To date, the company has successfully extinguished over 50% of its targeted legacy debt. The remaining debt is anticipated to be eliminated within the next five weeks.
In the midst of all this, Pure also retained the services of Ronald N. Vance & Associates, to begin upgrading the Company to the OTCQB exchange.
Mr. Melvin Pereira, President and CEO of Pure Hospitality Solutions, commented, "I am very certain that our shareholders will be quite pleased with these filings. Not only have we secured our first revenues from online travel operations, we have taken dramatic steps to reduce past and future liabilities and better positioned the Company for significant investment opportunities. Not to mention, all of the progress we are making within the Central America and Caribbean markets.
"We are signing up new hotels and receiving new inquires almost on a daily basis. I am exceptionally pleased with all the progress we have been making, and firmly believe we are on the right path!"
About Pure Hospitality Solutions, Inc.
PURE provides proprietary technology, marketing solutions and branding services to hotel operators and condominium owners. The Company's vision is to build competitive operations in the areas of (i) online marketing and hotel internet booking engine services, (ii) hotel branding and, (iii) own, operate and in some instances develop, boutique hotels under the new "by PURE" brand. PURE is the creator of Oveedia (www.Oveedia.com), the Central American-Caribbean online travel hub.
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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.
Contact Information:
Contact:
Team PURE
IR Div.
(800) 889-9509