$OTHM LAS VEGAS , July 12, 2013 /PRNewswire/ -- Oriens Travel & Hotel Management Corp. (OTC: OTHM), the Next Generation International Hotel Brand Operator, operating its Hotel PURE brand, announced that as of today, the FROL Booking Engine has excelled the company further than initially expected – bringing Oriens to explore a merger/acquisition scenario valued at in excess of $30,000,000 .
"Due to our FROL booking engine, we are now exploring a possible option of a merger/acquisition which will provide OTHM with the ability to ramp up the online side of our business ten-fold and revisit our corporate roots," stated Ken Chua , President of Oriens Travel & Hotel Management.
The company initially began strictly as an advanced booking engine. With foresight into the real estate retraction, as the recession was coming – approximately eight years back – OTHM executives began "flagging" hotels to offer an economic alternative to the overwhelming PIP Cost (Property Improvement Program) boutique hotel property owners were subjected to by the larger brands (i.e. Marriot, etc.). Additionally, the cost to compete with the Expedia's of the world, made hotel branding, marketing and operating a much more appealing business model.
Amidst this time, Orien's added 52 properties to its portfolio; consequently abandoning the 'broader' booking engine model. "This is the reason why people have continued to stumble upon non-working links and access to our older 'public' booking engine interface," continued Mr. Chua.
"We have begun cleaning up these older, expired links to avoid any confusion about the viable applicability of our FROL system. It is flawless. At present, the FROL booking engine is isolated to those hotels either 'flagged' by HotelPURE or which contracted Oriens to solely provide online booking and internet marketing services. However, the future appears to be pointing us back in the direction of operating a broader online hotel booking engine to accommodate the rapid growth of less explored travel and resort destinations."
Management expects, should the company be successful with this next phase of growth, – merger/acquisition – the launching of a broader FROL system, will be forthcoming, financially viable and extremely lucrative.
