Pure Hospitality Solutions, Inc. (PNOW) Announces Increased Financial Commitment to the Development of Groundbreaking Travel Solution
Through the engagement of Softon ITG, Pure Hospitality Solutions, Inc. has ramped up its efforts to launch a formidable online travel agent (OTA) in the underserved Central American-Caribbean market. With several planned social and visual media components, Oveedia, Pure’s online hospitality booking engine, is currently being developed as one of the most unique OTAs on the market. Estimates for completion of the initial phase of coding integration clocked in at just 527 hours, allowing the company to consider the possibility of moving the scheduled 2015 launch forward.
The massive potential of the Oveedia platform benefits from its “first-mover advantage” within the niche market. With an estimated $30+ billion of online travel revenue, anticipation for sizable growth in the rapidly expanding Central American market is high.
“As Pure Hospitality Solutions ramps up coding integration, we are working diligently to further reduce debt and overhang, aggressively developing Oveedia’s marketing plans, exploring financing options for the company and signing on local hotels in the Central American-Caribbean region,” stated Melvin Pereira, President and CEO of Pure. “[The company] is on a ‘fast-track’ to revenue stemming from online operations.”
The target Central American region encompasses over 16,000 destinations that are currently grossly underserved by OTA providers, making it a prime location for rapid growth. According to a study by global travel market research company Phocuswright, Latin America accounted for just three percent of global OTA market share in 2010, despite accounting for approximately seven percent of overall travel. This figure continues to rise, however. From 2010 to 2012, the region led all global markets in total growth.
Industry experts insist that the current lag in OTA penetration is a result of an underserved market. In 2012, less than 30 percent of all online booking in the Latin American region was completed using major players in the OTA industry, such as Priceline, Expedia and Travelocity. Instead, travelers opted for lesser-known OTAs that delivered customized support including native language prompts, diversified payment options and helpful local content.
“What this means, simply, is that… we now have the ability to establish a broader market presence ahead of advancing our niche focus – the underserved travel destinations of Central America and those Latin countries of the Caribbean,” continued Periera.
With similarly structured regional OTAs, such as Agoda, being acquired by major travel companies in recent years, the potential financial advantages of the Oveedia platform can’t be overstated. As Pure continues to move towards carving out a sizable share of the world’s most rapidly expanding online tourism market, the company could be in a strong position for regional acquisition in the years to come. In any case, increased financial commitment to the programming and software development of Pure’s booking engine makes it an intriguing time for investors of this growing company.
For more information on Pure Hospitality Solutions, visit www.purenow.solutions
Please see disclaimer on the QualityStocks website: http://Disclaimer.QualityStocks.com
Through the engagement of Softon ITG, Pure Hospitality Solutions, Inc. has ramped up its efforts to launch a formidable online travel agent (OTA) in the underserved Central American-Caribbean market. With several planned social and visual media components, Oveedia, Pure’s online hospitality booking engine, is currently being developed as one of the most unique OTAs on the market. Estimates for completion of the initial phase of coding integration clocked in at just 527 hours, allowing the company to consider the possibility of moving the scheduled 2015 launch forward.
The massive potential of the Oveedia platform benefits from its “first-mover advantage” within the niche market. With an estimated $30+ billion of online travel revenue, anticipation for sizable growth in the rapidly expanding Central American market is high.
“As Pure Hospitality Solutions ramps up coding integration, we are working diligently to further reduce debt and overhang, aggressively developing Oveedia’s marketing plans, exploring financing options for the company and signing on local hotels in the Central American-Caribbean region,” stated Melvin Pereira, President and CEO of Pure. “[The company] is on a ‘fast-track’ to revenue stemming from online operations.”
The target Central American region encompasses over 16,000 destinations that are currently grossly underserved by OTA providers, making it a prime location for rapid growth. According to a study by global travel market research company Phocuswright, Latin America accounted for just three percent of global OTA market share in 2010, despite accounting for approximately seven percent of overall travel. This figure continues to rise, however. From 2010 to 2012, the region led all global markets in total growth.
Industry experts insist that the current lag in OTA penetration is a result of an underserved market. In 2012, less than 30 percent of all online booking in the Latin American region was completed using major players in the OTA industry, such as Priceline, Expedia and Travelocity. Instead, travelers opted for lesser-known OTAs that delivered customized support including native language prompts, diversified payment options and helpful local content.
“What this means, simply, is that… we now have the ability to establish a broader market presence ahead of advancing our niche focus – the underserved travel destinations of Central America and those Latin countries of the Caribbean,” continued Periera.
With similarly structured regional OTAs, such as Agoda, being acquired by major travel companies in recent years, the potential financial advantages of the Oveedia platform can’t be overstated. As Pure continues to move towards carving out a sizable share of the world’s most rapidly expanding online tourism market, the company could be in a strong position for regional acquisition in the years to come. In any case, increased financial commitment to the programming and software development of Pure’s booking engine makes it an intriguing time for investors of this growing company.
For more information on Pure Hospitality Solutions, visit www.purenow.solutions
Please see disclaimer on the QualityStocks website: http://Disclaimer.QualityStocks.com
