Oriens Travel & Hotel Management Corp. (OTC PINK: OTHM) (PINKSHEETS: OTHM), the Next Generation International Hotel Brand Operator, announced today that the Company has established a newly proposed roll out of Oriens business model; launching the new FROL System, while acquiring and branding its own properties under the newly emerging brand.
"The circumstances that temporarily derailed us were unfortunate, but in no way debilitated our ability to continue forward," stated Ken Chua, President of Oriens Travel & Hotel Management. "The beginning of the 3rd Quarter should be spectacular for Oriens, as we intend to have our first multi-million dollar acquisition completed. This will spearhead the way for us to complete every endeavor we initially contemplated coming into 2014. This should be quite the year for Oriens."
Upon entering 2014, Oriens expected to complete a merger, which was anticipated to be positive for the growth of the Company. Third party mishaps created a minor snafu, ultimately however, proving to be positively more beneficial than what the contemplated merger would have created. The Company is now just a few weeks away from completing their first multi-million dollar real estate acquisition.
Amongst other benefits of this transaction, Oriens would now have the full ability to state that it is truly a hotel brand and management company, operating its own condo/hotel properties, while deploying an online booking engine service to a rapidly up and coming tourist region in Central America.
Mr. Chua concluded, "Now that we are back on track, we will quickly begin tending to various open items, such as the PCAOB audit, authorized share reduction and the re-launch of the brand and booking engine. This quarter's upcoming shareholder update will certainly be eventful."
The company is set to release its shareholder update on July 2nd.
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.
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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SOURCE: Oriens Travel & Hotel Management Corp