Compensated Awareness Post View
Disclaimer
OTHM and Costa Rica’s E-Net on Merger Doorstep
Oriens Travel & Hotel Management, the Next Generation International Hotel Brand Operator, has announced that the company is prepared to complete a merger with the Costa Rican entity, E-Network de Costa Rica M & A Sociedad Anomima (“E-Net”). The move came as a result of the company accepting a “Plan of Merger” during a special meeting of the Board of Directors, on Wednesday, September 10th, 2014.
“This is the beginning of something real and tangible,” noted a senior Board Member. “The merger of E-Network delivers an assurance to shareholders that Oriens is now set on a course that will offer the best solution to rapid growth in Costa Rica, and to the Company overall.”
Confirmed by a company spokesperson, E-Net is the target of the merger and both companies have committed to the process without delay. The deal’s completion will likely occur by the close of this weekend. Running simultaneously with the merger news are reports confirming that an E-Net principal will be inserted as Oriens’ new CEO. This individual is well tenured in Costa Rican real estate, law, and experienced with internet traffic generating technologies. A senior Board Member commenting on what they feel E-Net’s most important factor is, is, “the relationships necessary to complete what Ken Chua began, and go far beyond what Mr. Chua could have ever accomplished on his own…” The concluded, “This is certainly the dawning of a new day.”
Additional confirmations by a company spokesperson were that E-Net and its principals have a pre-existing relationship with Oriens and longstanding relationships with operators (R.E. investors, lawyers, buyers, sellers and developers) near the Jaco Beach, San Jose and Manuel Antonio areas of Costa Rica. E-Net maintains and manages land parcels, residential and commercial properties in Costa Rica, and is in the process of completing another property acquisition that will impact Oriens’ balance sheet to the upside pending finalization.
Oriens centers its efforts in the operation of hotels and resorts primarily in the United States and Central America under the Hotel PURE brand. Additionally, the company operates Friendly Reservations Online, a proprietary online booking system used in executing reservations capture through Hotel PURE consumer facing websites, as well as individual hotel websites operated by Oriens for hotels branded under the Hotel PURE brand.
For more information on the company, visit www.orienscorp.com
