Today Oriens Travel & Hotel Management,
the Next Generation International Hotel Brand Operator, reported company
President Ken Chua and its executives and consultants (domestic and Costa
Rican) are in Costa Rica engaging in the wrap-up of pending acquisitions. They
are primarily focusing on the formal transfer of assets.
“We have come to gain a deep respect and
appreciation for the method in which business is conducted and rules are
adhered to and enforced in Costa Rica,” stated Ken Chua. “Many assumptions are
made about the level of sophistication displayed by those governments and
businesses outside of the United States; not considered ‘on par’ with fully
industrialized well developed countries. However, in our endeavor to re-launch
both FROL and the Hotel PURE brand and grow a portfolio of real estate assets
inside of a rapidly growing tourist destination in Central America, we have
learned otherwise of Costa Rica. We deeply admire their discipline and
systematic approach to protecting the interest of all parties in commerce.”
According to company management, the property
acquisition could be considered to have been finalized according to U.S.
standards. Business dynamics with Costa Rica, especially those relating to
activities on an international scale, though, make the elements of “rights and
ownership” more particular than usual. Oriens reports especially seeing these
business dynamics at play in its dealings with sizable lenders, major law
firms, and well-heeled investors.
Substantial progress has been made on the
acquisition’s completion. Only one remaining action is anticipated in the
process of formally transferring interest of the 15-story, forty-four unit
beach-front condo/hotel building in Costa Rica’s Jaco Beach to Oriens. Once
this has been completed, formal assets transfer will start and the values will
properly reflect on Oriens’ book records.
Chua explained, “The timelines of the formal
transfer are very definitive. We expect to be able to lawfully make this
announcement after Labor Day.”
For more information, visit:
www.orienscorp.com
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