Best Rate Travel to Acquire 105 Riverside
DECEMBER 28, 2006. Best Rate Travel, Inc. (OTC:BTVL) today signed a Letter of Intent to acquire 105 Riverside LLC, including all associated real estate assets, to build a $35 Million, 90 room boutique resort in prestigious Pompano Beach, which won the 2005 All American City Award. The resort is scheduled to open October 2008. Best Rate Travel, Inc. will own 100% of the overall Pompano Beach resort.
The Riverside resort project will be built on a 27,000 sq. ft. parcel with a 180 ft. frontage on the intracoastal and a marina. The adjoining property to the North is owned and being developed by WCI Communities (OTC:WCI). It has been named Oceanside Pompano Beach, and has luxury towers starting at $950,000 per unit. This is just a hint to the potential value of the property being acquired by Best Rate Travel, Inc. (OTC:BTVL)
In addition to easy access to Ft. Lauderdale and Pompano's vibrant business community and Ft. Lauderdale International Airport, the Riverside project is close to shops, fine dining, theaters and all that Broward County, Florida has to offer.
Best Rate Travel, Inc. recently announced its intent to leverage its portfolio of companies serving the travel and tourism market to position itself as a full service hospitality company. The Board of Directors has decided to vertically integrate its divisions to provide a total hospitality solution for both the business and leisure traveler.
"Best Rate Travel is a stake holder in the traveler's experience because simply creating partnerships between travel sales outfits, property and travel operators are insufficient for long term sustainability and profitability," said Adrian Stone, CEO of Best Rate Travel, Inc. "With car rental locations in the US, Barbados and an additional location in Jamaica, Best Rate Travel is building a diverse inventory which will enable us to provide a superior travel experience for our customers."
Best Rate has already established four functional support subsidiaries to concentrate on delivering specific aspects of the Company's hospitality services and wireless customer service support:
---|CHL Technologies, Inc., a wireless broadband mobile content provider that delivers to smart phones entertainment and ecommerce information in China.
---|RF Tune, Inc., a fabless radio frequency integrated circuit manufacturing company offering wireless system, chip design, and integrated circuits for the 802.11/Wi-Fi and WiMax market.
---|Best Rate USA Car Rental currently serves the US, Barbados and Jamaican markets with 2007 expansion plans.
---|Best Rate Hotels, Inc. a hotel management company.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
