Oriens Travel & Hotel Management Corp. (OTHM) Presents Updat Oriens Travel & Hotel Management Corp. (OTHM) Presents Update on Acquisition Finalization and Closing and Transfer of Asset
Today Oriens Travel & Hotel Management, the Next Generation International Hotel Brand Operator, reported company President Ken Chua and its executives and consultants (domestic and Costa Rican) are in Costa Rica engaging in the wrap-up of pending acquisitions. They are primarily focusing on the formal transfer of assets.
“We have come to gain a deep respect and appreciation for the method in which business is conducted and rules are adhered to and enforced in Costa Rica,” stated Ken Chua. “Many assumptions are made about the level of sophistication displayed by those governments and businesses outside of the United States; not considered ‘on par’ with fully industrialized well developed countries. However, in our endeavor to re-launch both FROL and the Hotel PURE brand and grow a portfolio of real estate assets inside of a rapidly growing tourist destination in Central America, we have learned otherwise of Costa Rica. We deeply admire their discipline and systematic approach to protecting the interest of all parties in commerce.”
According to company management, the property acquisition could be considered to have been finalized according to U.S. standards. Business dynamics with Costa Rica, especially those relating to activities on an international scale, though, make the elements of “rights and ownership” more particular than usual. Oriens reports especially seeing these business dynamics at play in its dealings with sizable lenders, major law firms, and well-heeled investors.
Substantial progress has been made on the acquisition’s completion. Only one remaining action is anticipated in the process of formally transferring interest of the 15-story, forty-four unit beach-front condo/hotel building in Costa Rica’s Jaco Beach to Oriens. Once this has been completed, formal assets transfer will start and the values will properly reflect on Oriens’ book records.
Chua explained, “The timelines of the formal transfer are very definitive. We expect to be able to lawfully make this announcement after Labor Day.”
For more information, visit: www.orienscorp.com
Please see disclaimer on the QualityStocks website: https://Disclaimer.QualityStocks.com