Fresh on the heels of Monday’s
announcement that it had submitted its Oveedia architecture to the Sabre Travel
Network, Pure Hospitality Solutions, Inc. (OTC: PNOW) provided potential
investors with yet another reason to consider the company on Tuesday through
the announcement of an accelerated debt reduction program.
“I believe, paying down, or
eliminating debt, is an investment in yourself,” stated Melvin Pereira,
President and Chief Executive Officer of Pure. “It is a true indication of who
you are and what you intend for your future. Of course, building a profitable,
successful business, will require proper financing. But it is absolutely
asinine for this company to carry this outrageous legacy debt – or any other
liability, that is going to hinder and not spur our growth.”
Over the past six months, Pure has
eliminated roughly one third of its outstanding debt, including accrued
interest and other carry costs. This dedication to improving its financial
outlook has placed Pure into a strong strategic position to fast track its
Oveedia OTA platform while effectively encouraging private tech investors to
invest in the company and clearing the way for more viable financing options in
the future.
“[W]e are cleaning house! In doing
so, we will leverage our strengths and deliver the greatest possible impact on
shareholder value and confidence; something never before seen from this
Company,” concluded Pereira.
Under its newly accelerated debt
reduction program, Pure is on course to eliminate nearly 90 percent of its
total debt by the end of 2015, setting the stage for potentially substantial
returns as the company nears the release of its Oveedia platform. With
necessary adjustment to the company’s business plan already underway, Pure is
positioning itself to emerge as a formative competitor in the $30 billion Latin
American online travel market in the coming months.
As Pure continues to remove legacy
debts from its books, the company is quickly approaching the much anticipated
launch of Oveedia. Leveraging the ample resources presented by becoming a
member of Sabre’s $7 billion travel network family, Pure is on track to
complete an initial version of its OTA platform as early as the end of this
week. This advanced development will allow the company to begin the site’s
three phase rollout sooner than originally scheduled.
For more information on Pure
Hospitality Solutions, visit www.purenow.solutions
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