SmallStockForum.com Announces Addition Of Exclusive Cruises & Resorts, Inc.
Business Wire - July 12, 1999 08:31
NASHVILLE, Tenn.--(BUSINESS WIRE)--July 12, 1999--SmallStockForum.com, an internet based information outlet for small and micro cap stocks, is pleased to announce the addition of Exclusive Cruises & Resorts, Inc. (OTCBB:XCLU) to its website.
Exclusive Cruises & Resorts, Inc. (OTCBB:XCLU), incorporated in February 1994, is an early stage start up company dedicated to providing upscale leisure and travel services to the segment of the traveling public that prefers the more personal holiday experience instead of the mass-market approach of the large cruise/tour operators.
The company currently has two subsidiaries, Exclusive Properties, Inc. - which acquires and operates small luxury passenger cruise ships and resorts and, ExclusiVacations, Inc. - which markets the company's properties and develops leads via its club membership and travel services departments.
The first project of Exclusive Properties-Cruise Division is the Acqua Azzurra. The cruise ship accommodates 50 passengers in 25 outside cabins with private facilities, TVs and air-conditioning. The present market value of the Acqua Azzurra is estimated to be around $9 million. The ship has a mortgage of $2 million and is presently completing a $600,000 refit and dry-docking in Miami, Florida. Cruising operations are scheduled to start in the fourth quarter of 1999.
The first project of Exclusive Properties-Resort Division will be the Brazil Hotel in Miami Beach. The company has an option to purchase the Brazil Hotel for $2.5 million. The hotel consists of 60 rooms with private facilities, TVs and air-conditioning. City zoning allows for the building of an annex, which would add another 26 rooms, resulting in a total of 86 rooms.
Exclusive Properties has recently contracted to buy an 80-suite hotel (Granada Suites) in Anaheim, California for $3.4 million. The hotel is situated between Disneyland and Knott's Berry Farm. The company also has an option to purchase Club Mykonos (40 units) in Greece for $2.4 million, thereby also establishing its international scope.
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