Budgethotels Network, Inc. announces first time quarterly profit
Thursday April 15, 11:27 am ET
VANCOUVER, April 15 /PRNewswire-FirstCall/ - Budgethotels Network Inc (OTCBB: BUDH - News) announces that it has achieved profitability for the first time in the first quarter of 2004.
Mr. William McLaws, the Company's newly appointed President states "While the net profit figure is a nominal $10,250 it does reflect the results of our cost cutting programs. General and Administration expenses for the quarter have been reduced to $78,613 from $165,515 for the comparable 2003 quarter."
Budgethotels further announces that to more rapidly increase sales it has retained Jobplex, an international Chicago based recruitment agency, to find and screen up to 12 candidates for up to 12 area representative positions. Jobplex's unique and successful recruitment methods are intended to accelerate the Company's previously announced program with Marquee Agencies to develop and oversee a direct sales force to market the Company's products.
About Budgethotels Network, Inc:
Budgethotels Network Inc. provides the public with travel information and related services for the "budget" traveler through two compatible networks.
(1) InfoCenter boards located in major transportation terminals under
exclusive agreements with Amtrak, Greyhound Lines, New York Port
Authority and Via Rail. To date the Company has entered into
agreements with approximately 500 hotels and travel related services
for advertising on these boards..
(2) On Line advertising, lodging information and hotel reservations
capability is available through its primary website,
www.budgethotels.com. The Company is pursuing an
aggressive sales campaign to solicit owners to advertise their
properties on this Web site. To date approximately 600 hotel owners
have subscribed to the service.
--------------------------------------------------------------------------------
Source: BudgetHotels Network Inc. |
