PLANTATION, Fla--(BUSINESS WIRE)--Online Vacation Center Holdings Corp. (OTCBB:ONVC), an aggregator of
diversified vacation sellers, today announced that it has acquired
Thoroughbred Travel LLC, an upscale travel agency based in Houston,
Texas that operates under the Journeys Unlimited name. The acquisition
is effective today, September 26, 2006.
Online Vacation Center Holdings purchased Thoroughbred Travel for a
total of $250,000, which included cash and a note convertible into
Online Vacation Center Holdings common stock. According to Thoroughbred
Travel, annual revenue was approximately $800,000 in 2005. The
acquisition is expected to be accretive to earnings in 2007.
“Thoroughbred Travel fits into our strategic
acquisition strategy by expanding our business in the upscale travel
market,” said Ed Rudner, Chief Executive
Officer of Online Vacation Center Holdings Corp. “In
addition to growing our customer base, the acquisition also provides
Thoroughbred Travel with access to our sophisticated marketing
techniques. They have a very experienced staff that focuses on luxury
cruises and land based travel and we are excited to welcome them to our
team.”
Thoroughbred Travel LLC, which operates under the name Journeys
Unlimited, is active in the luxury travel market. Journeys Unlimited’s
agents are “Specialists in the Art of Travel”
and are dedicated to finding the perfect cruise or land vacation for
each of its customers. Their personal knowledge of the ships, the crews
and the industry, combined with their strong performance equate to extra
value for the traveler. Journeys Unlimited is also a member of Virtuoso,
North America's most respected network of travel specialists. The
affiliation with Virtuoso represents decades of professional experience,
worldwide connections and product, lifestyle and destination expertise
and automatically places them in the top 1% of travel agencies. For more
information visit: www.gojourneysunlimited.com.
About Online Vacation Center Holdings
Online Vacation Center Holdings Corp., based in Plantation, Florida, is
focused on building a network of diversified vacation sellers with a
range of products that can be cross-sold to an extensive customer base.
Target businesses will be financially and technologically sound and
provide a high degree of personalized service to help customers
research, plan and purchase a vacation. The Company, today one of the
country's largest cruise retailers, has been in business for over 30
years and became publicly traded in March 2006. Additional information
can be found at www.onlinevacationcenter.com.
Certain statements in this press release may be “forward-looking
statements” within the meaning of The Private
Securities Litigation Reform Act of 1995. These forward-looking
statements may include projections of matters that affect revenue,
operating expenses or net earnings; projections of growth; and
assumptions relating to the foregoing. Forward-looking statements are
inherently subject to risks and uncertainties, some of which cannot be
predicted or qualified. Future events and actual results could differ
materially from those set forth in, contemplated by, or underlying the
forward-looking information. These factors are discussed in greater
detail in the company’s filings with the
Securities and Exchange Commission.
