Pure Hospitality Solutions (OTC:PNOW) is developing
efficient tools to enable travelers to book lodging accommodations in
affordable high end luxury units at relatively low cost. To execute this
mission, the company primarily focuses on the development and acquisition of
condominium apartments in hot-spot tourist destinations like Costa Rica. Pure’s
overarching mission is to compete alongside travel industry behemoths like
Expedia, Inc. (NASDAQ:EXPE), Orbitz Worldwide, Inc. (NYSE:OWW) and Priceline
Group, Inc. (PCLN).
In most cases, Pure uses its Friendly Reservations Online
(FROL) booking engine to ensure higher occupancy rates in its affiliate condos
and that of the individual owners. FROL is currently undergoing a pre-launch
overhaul, in which the tool will be branded as an online travel agency (OTA)
called Oveedia, which will focus on the Central American-Caribbean region.
Oveedia will be accessible on al devices, and will
ultimately incorporate new mobile apps, offer travelers the newest electronic
payment options, provide hotel operators and condominium owners with back-end
technology services, and operate as a standalone online hospitality search and
reservation booking system.
Bigger industry players like Expedia and Orbitz generally
charge about 25% of the total reservation amount, according to Pure. These OTAs
are essentially third-party travel sites offering virtual billboards to hotels
and condominiums looking to market their properties to online travel shoppers.
Because these OTAs have amassed high-volume traffic, they are in a position to
command higher commission rates.
Pure’s plan is to leverage this OTA billboard model and
maintain a competitive edge by offering its hospitality reservation services,
utilizing its booking engine, at 8% of the reservation amount. While charging
lower commission rates, the company will drive revenues through four key
strategies:
1. Initial
membership fees charged to each new hotel and condominium properties joining
the “by PURE” lodging brand;
2. Monthly
royalties from “by PURE” brand locations of no more than 8% of the total
Internet reservation sales revenue;
3. Revenue
generated from corporate-owned properties;
4. E-marketing
revenue.
The company has already signed up a number of properties
during past product beta test, and said it believes that through the
post-merger/acquisition of various projects located in Costa Rica, it can
attract, secure and successfully provide services to approximately 300
participating hotel and condominium owners within the next 12 months.
Ultimately, Pure intends to become a top-tier hotel brand
operator and Internet booking and marketing service provider. The company also
intends to establish an international footprint with its online booking engine
technology and marketing offerings, making that segment of its business a prime
acquisition target for major OTAs.
For more information visit www.purenow.solutions
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