LAS VEGAS, Aug. 12, 2008 (PRIME NEWSWIRE) -- Oriens Travel & Hotel Management Corp. (Pink Sheets:OTHM) (http://www.orienscorp.com), an emerging Travel and Hotel Management Company, operating online travel booking site 128trip (http://www.128trip.com) and hotel management subsidiary Hotel PURE (http://www.HotelPURE.com), is pleased to report it has completed Online Credit Card processing integration for its Hotel PURE booking engine.
After months of due diligence by the bank, Oriens has received approval from Banco Nacional to process online Credit Card transactions for all hotels represented under the Hotel PURE brand. This is a huge step for Oriens with respect to building a solid foundation with the hotels it represents, since most of the small and medium size hotels in the Central America and the Caribbean region virtually have no access to online Credit Card processing capabilities. As a result, as much as 30% of the reservations booked online turned up to be "No-Shows" when credit cards were not processed at the time of booking, resulting in loss revenue, according to feedback received from some of Costa Rica Hotel PURE locations. This initiative will allow Hotel PURE to instantly process all Credit Cards at the time of bookings and settle funds with hotels less processing fees, thus guaranteeing the rooms to the customers as well as eliminating "No-Shows" to the hotels. The integration itself, which took nearly 3 months to complete, involves a huge list of compliances such as linking database to the bank, secure communications protocols, obtaining certificates for VISA and MasterCard, a whole new API software platform integration with the bank among other critical components.
As much as 66% of the 2700 hotels in Costa Rica currently have no access to online Credit Card processing capabilities, as a result, Hotel PURE looks to establish relationships with more hotels utilizing this proprietary service.
Ken Chua, President/CEO of the company comments, "This is a huge milestone for Oriens as we advance to a new level with Hotel PURE, with the beginning of a series of additional services offer to the hotels we represent. As we develop and integrate more software based services to the hotels we represent, we are showing our commitments to the hotels, we are their ideal partner for the long term, to help them building a better business utilizing more advance technologies and be more competitive with the branded hotels, such as the Marriott, Best Western, Holiday Inn and others."
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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' 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.