Oriens Travel & Hotel Management Corp. (OTHM) on Track with Acquisition Strategy

Oriens Travel & Hotel Management Corp. announced today that it has formally started the process involved in financing the Jaco Beach acquisition while its Costa Rican partners have begun drawing down capital from traditional, non-toxic, asset based capital resources. It was reported that management will pursue financing in a two-part strategy – seeking traditional asset back financings to bridge capital and to secure larger long-term equity based financing.

“Acquiring properties comes with a number of expenses; costs we have diligently looked to cover with the least amount of impact on the market,” stated Ken Chua, President of Oriens Travel & Hotel Management. “While we understand the second phase of our multi-million dollar raise will eventually incorporate long-term equity financing, current expenses are just below half a million dollars. We find it very important to responsibly facilitate this smaller size funding, though a financing vehicle offering the greatest benefit to our market and stakeholders. Through our allied partners in Costa Rica, along with friendly investors in the States, we have seemingly been fortunate enough — so far, to access capital without registering or selling any corporate stock.”

As a result of Costa Rica’s recent World Cup success, closing is expected to be delayed by approximately three weeks. It is worth noting, however, that due to the strength of Oriens’ alliances, additional flexibility was granted and thus gave Oriens the ability to satisfy obligations inherent to a variety of its deal structures.

Mr. Chua added, “This process has certainly been challenging. What keeps us focused however, is the sheer value and confidence we expect will ultimately be delivered to our shareholders. When Oriens completes these acquisitions, re-launches our FROL, and begins managing new properties under a retooled brand, we are absolutely confident that our diligence will prove worthwhile. The time, dedication and commitment made by Oriens, our allied partners and those local investors who have extended us the opportunity to exhibit our competencies, will not be in vain.”

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 captured 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.

For more information on the company, visit www.orienscorp.com

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