Fresh on the heels of Monday’s announcement that it had submitted its Oveedia architecture to the Sabre Travel Network, Pure Hospitality Solutions, Inc. (OTC: PNOW) provided potential investors with yet another reason to consider the company on Tuesday through the announcement of an accelerated debt reduction program.
“I believe, paying down, or eliminating debt, is an investment in yourself,” stated Melvin Pereira, President and Chief Executive Officer of Pure. “It is a true indication of who you are and what you intend for your future. Of course, building a profitable, successful business, will require proper financing. But it is absolutely asinine for this company to carry this outrageous legacy debt – or any other liability, that is going to hinder and not spur our growth.”
Over the past six months, Pure has eliminated roughly one third of its outstanding debt, including accrued interest and other carry costs. This dedication to improving its financial outlook has placed Pure into a strong strategic position to fast track its Oveedia OTA platform while effectively encouraging private tech investors to invest in the company and clearing the way for more viable financing options in the future.
“[W]e are cleaning house! In doing so, we will leverage our strengths and deliver the greatest possible impact on shareholder value and confidence; something never before seen from this Company,” concluded Pereira.
Under its newly accelerated debt reduction program, Pure is on course to eliminate nearly 90 percent of its total debt by the end of 2015, setting the stage for potentially substantial returns as the company nears the release of its Oveedia platform. With necessary adjustment to the company’s business plan already underway, Pure is positioning itself to emerge as a formative competitor in the $30 billion Latin American online travel market in the coming months.
As Pure continues to remove legacy debts from its books, the company is quickly approaching the much anticipated launch of Oveedia. Leveraging the ample resources presented by becoming a member of Sabre’s $7 billion travel network family, Pure is on track to complete an initial version of its OTA platform as early as the end of this week. This advanced development will allow the company to begin the site’s three phase rollout sooner than originally scheduled.
For more information on Pure Hospitality Solutions, visit www.purenow.solutions
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