LAS VEGAS, Sept. 19, 2007 (PRIME NEWSWIRE) -- Oriens Travel and Hotel Management Corp. ("Oriens") (Pink Sheets:OTHM) (http://www.orienscorp.com) is pleased to announce the completion of the acquisition of www.128trip.com ("128trip"), a privately held company, which developed and operates an internet-based travel reservations and sales businesses for clients throughout the world.
128trip currently has access to booking at more than 50,000 hotels for its clients, such as The Sheraton, Hyatt, Hilton, Holiday Inn and others around the world, airline ticketing for airlines such as American Airlines, Delta Air Lines, US Airways and other major airlines, Car Rental from companies such as Dollar Rent a Car, Alamo, Enterprise etc., and Cruise Vacation packages from cruise lines such as Royal Caribbean Cruise Line, Celebrity Cruise Line, Princess Cruise Lines, Carnival Cruise Lines and other major cruise line companies.
Utilizing this powerful platform, Oriens plans to further expand the business by entering into agreements with budget hotels in China. This business will be developed through a wholly owned Chinese subsidiary company which will contract the proprietary web search technology to offer both foreign and Asian domestic travelers the ability to place reservations with budget hotels in China. These companies do not presently have the ability to market and advertise their products outside of their local area, and do not have exposure outside China. Oriens also plans to offer, through its associates in the region, special tour packages to various ancient & popular destinations such as Beijing, Shanghai, Hainan, Guangzhou and other popular cities, in China.
Mr. Ken Chua, Oriens President and CEO stated, "We are very excited to enter into a new business phase for the company as external gaming market conditions, caused by recent Internet gaming legislation passed by the U.S. last year, has made for existing gaming business operations to be very limited in growth and therefore, the Board recognized that a new business opportunity was required. With the continuing booming economy in China, a very robust domestic market exists, which is very much under serviced. With our new Asian partners and investors, we will be able to bring a product to China which will be overwhelmingly accepted by the local hotel industry, who do not market their properties in other than the immediate local markets. There is a lot of work to do due to the market size, but we have products and services to offer which are not normally available in the domestic market at this time. We are proceeding to structure the corporate brand and hire experienced Asian-language-speaking staff who have extensive knowledge of the hospitality & travel industry, as it is structured in China."
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The above statements in regard to Oriens, which are not purely historical, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including Oriens's beliefs, expectations, hopes or intentions regarding the future. All forward-looking statements are made as of the date hereof and are based on information available to the parties as of such date. It is important to note that the actual outcome and the actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include risks and uncertainties, such as technological, legislative, corporate, financial and marketplace changes.