Pure Hospitality Solutions has rapidly emerged as a potentially key
regional player in the booming Central America-Caribbean tourism market, with
some gorgeous properties in Costa Rica on and near Jaco Beach, which has
experienced considerable growth in recent years due to its scenic beauty and
its being considered one of the best surfing beaches in the country. Jaco Beach
is also the closest beach to San Jose, resting just over an hour’s drive from
Juan Santamaria International Airport and consists of roughly 2.5 miles of
enticing, abundant coastline, and is located just south of another famous
tourist destination, Herradura Beach.
The company’s Bahia Encantada luxury condos are situated at the northern
end of Jaco Beach, with stunning oceanfront views across a series of infinity
edge pools, making the location seem to many visitors like a tropical paradise.
This 48-unit condominium complex (25% 2-bedroom units and the rest 3-bedroom)
is fully furnished with sumptuous accommodations, including modern kitchens
featuring solid wood cabinets, granite countertops, stainless steel appliances
and all-inclusive cookware, and there is a even a large tri-level swimming pool
with swim-up bar right in the center of the complex. Unlike many other
beachfront destinations in Costa Rica, Jaco has an extremely impressive
downtown area, with high rise towers and some of the most modern condominiums
anywhere around, making the location an attractive target for North American
tourists.
Bahia Encantada is considered by many to be one of the most beautiful
beachfront estates in the entire area and is just southwest of the lush,
pristine Carara National Park, where PNOW has recently acquired exclusive
property inside the Nativa Resort. The Nativa Resort features luxury homes and
condos inside a gated community at the heart of the Carara tropical forest,
which features exotic wildlife, mountains, and rivers. In fact, wildlife
tourism makes up a popular and growing chunk of the overall tourism market for
the region, giving such a locale as Nativa considerable cachet value.
Costa Rica has become an exceptionally hot tourism destination (26.4%
market share of the entire Central American region) and yet still has a great
deal of room to grow, especially in the luxury suite category. Costa Rica saw a
3.6% tourism jump in 2013 alone to set a new record of just over 2.43M
visitors, most of whom were from the U.S. (39%) and Europe (12.4%). And yet, of
the roughly 2.5k hotels reported by the Costa Rican Tourism Institute, over
half are small family-run outfits, while the rest are mostly big-box chain
hotels. PNOW has been aggressively marketing their Bahia Encantada portfolio to
take advantage of the relatively low market saturation for their product and
has set about a complete overhaul of their Friendly Reservations Online (FROL)
booking engine software, which was highly successful in beta testing stateside.
In fact, the FROL hospitality booking engine may even represent an even
more compelling draw for potential investors than the company’s real-estate
footprint, which was valued around $2.6M on the last quarterly report, as this
robust booking system showed significant increases in booking rates and overall
results during its 30-hotel U.S. beta testing run. The company has the tools
and the expertise to pull off an extremely effective online hospitality booking
architecture for this region and PNOW is hard at work setting up the field
towards this end, with aspirations to become a leading provider to not only the
Costa Rican market, but the broader Central America-Caribbean region as well in
the near future, under their “by PURE” brand.
The company has even begun running ads via the well-known international
real estate franchise system firm RE/MAX as of October 2014, with strong
expectations of pulling down consistent cash flows through the Q4 2014 to Q1
2015 interval in particular, driven by the strength of their Bahia Encantada
units’ appeal and the height of the Costa Rican tourist season. Investors will
want to keep an eye out for forthcoming revenue data and should pay close
attention to the relative valuations on other regional booking engine
companies, as PNOW approaches completion of the retooling on their FROL engine
sometime early this year.
For more information on the company, visit www.purenow.solutions
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