Exclusive Cruises to Cooperate with Sun International in Bahamas Cruise Program
PR Newswire - March 31, 1999 08:44
MIAMI BEACH, Fla., March 31 /PRNewswire/ -- Exclusive Cruises and Resorts, Inc. (OTC Bulletin Board: XCLU) announced today that it has concluded negotiations with Sun International Resorts, Inc. to jointly market 7-day "cruise-and-stay" packages incorporating Sun's ATLANTIS theme resort on Paradise Island, Bahamas. The program, which is scheduled to start this summer, will give resort guests the opportunity to visit the Out Islands on board the company's 50 passenger ACQUA AZURRA boutique cruise ship.
George Macropulos, President of Exclusive Cruises and Resorts noted, "This agreement confirms our company's commitment to choosing strategic partners who help us attract up-scale clientele for our cruise and resort properties. For Sun International, this program adds much sizzle to the vacation experience of their guests. For Exclusive, the enhanced daily rates and occupancies will ensure that we meet our goal of $4 million annual revenues for the ACQUA AZZURRA which operates at a profit margin of around 35%."
Exclusive Cruise and Resorts, Inc. is the parent company of two wholly owned subsidiaries in niche markets with high growth potential. Delta Vacation Properties, Inc. acquires and manages boutique cruise ships and resorts that operate or are located in high demand tourist destinations. Suxess Marketing and Travel, Inc. is the group's principal sales and fulfillment arm. Exclusive Cruises and Resorts' sources of revenue include cabin and room sales from its properties, timeshare (club membership) sales, affiliation fees, annual membership dues, as well as travel services to its membership base. EBITDA projections in the next 12 months of operations are expected to be over $3 million, or $0.50 per share.
Financial statements in this press release other than historical facts are "forward-looking" statements within the meaning of section 27A of the Securities Act of 1933, section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward-looking statements be subject to the safe harbors created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results could differ materially from expected results.
SOURCE Exclusive Cruises & Resorts, Inc.
/CONTACT: George Macropulos of Exclusive Cruises & Resorts, 305-861-8920;
or Steven G. Trapp & Company, 888-253-2542, for Exclusive Cruises & Resorts/
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