| | Exclusive Cruises & Resorts Inc. Announces Purchase of Travelistics, Inc.
MIAMI BEACH, Fla., Apr 6, 2001 (BUSINESS WIRE) -- Exclusive Cruises & Resorts, Inc. (OTCPS: XCLU chart, msgs) announced today that the company completed the purchase of 80% of Travelistics, Inc. of Pembroke Pines, Florida, a company in the travel incentive and marketing industry, in a stock swap worth $800,000.
Dr. George Macropulos, chairman and president of Exclusive Cruises & Resorts, stated: "The purchase of Travelistics is of great strategic importance to our company because it provides a source of potential customers for our vacation club business as well as the back-end support system needed to meet their travel needs. This acquisition, coming after the purchase last year of 51% of the Mimosa (ex-Brazil Hotel) in Miami Beach, establishes the foundations for the growth that we have been aspiring to."
Travelistics is a two-year old company that has revenues of over $5 million and customers such as American Express Publishing and Pitney Bowes. In addition to providing travel incentives for the subscribers/associates of these companies, Travelistics also administers their travel clubs.
This acquisition comes at the end of the same quarter in which Exclusive Cruises & Resorts sold the Acqua Azzurra while retaining her sales and marketing rights for North America. The cruise division's new cruise strategy is to acquire smaller private yachts and position them in high-demand destinations, thus providing its customers with greater choice and flexibility. These ships will be chartered to individuals, groups and companies and the balance of the time will be sold as eVacationClub memberships. The first such vessel has already been contracted and will be based in South Florida.
Any forward-looking statements in this press release are subject to the safe harbors created thereby, involve risks and uncertainties and are subject to change at any time. The officers, directors and advisors to the company may from time to time buy and sell the company's common stock in the market, but shall do so only when all material facts have been fully disclosed to the public.
Contact:
For Exclusive Cruises & Resorts, Inc.:
Steven G. Trapp & Company
Steven G. Trapp, 888/253-2542 |
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