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GTREX Capital Targets Potential Investments in Vacation Ownership Sector
Thursday January 12, 9:23 am ET
ALISO VIEJO, Calif.--(BUSINESS WIRE)--Jan. 12, 2006--GTREX Capital, Inc. (OTCBB:GRXI - News) today announced that the company is targeting new investments in the travel industry, specifically in the vacation ownership sector.
Vacation ownership, commonly known as timeshares, recorded worldwide annual sales of $9.4 billion (USD) in 2004, with more than 7 million families residing in 270 countries owning a timeshare interest. There are more than 5,400 resorts around the world that contain vacation ownership units.
In the travel industry, vacation ownership is considered one of the fastest-growing sectors and has experienced a double-digit annual growth rate for each of the past 20 years. Every major North American hospitality company has at least one timeshare subsidiary or division, including Marriott, Hilton, Hyatt, Four Seasons, and Starwood Properties. Major international hospitalities with timeshare subsidiaries include Accor, De Vere and The Legend Group. Marriott's vacation ownership subsidiaries represented 15.3% of its 2004 revenue and 24.3% of its profit.
"The Investment Committee of GTREX Capital's Board of Directors is currently evaluating several proposed investments in the vacation ownership sector, and we believe that these opportunities present significant upside as potential investments for the GTREX Capital portfolio," stated chairman and chief executive officer Christopher Berlandier.
"Vacation ownership provides both significant revenues and high profit margins for the parent hospitality company, and considering the potential synergies with GTREX Capital's travel distribution and other travel related investments, vacation ownership assets could be excellent additions to the GTREX Capital investment portfolio. We expect that the Board will have completed its analysis of these potential investments in the very near future, and we hope to announce initial agreements as soon as they are executed," added Mr. Berlandier.
To sign up to receive information by email directly from GTREX Capital whenever new press releases, investor newsletters, SEC filings, or other information is disclosed, please visit http://www.gtrexcapital.com/investor.asp.
About GTREX Capital, Inc.
GTREX Capital, Inc. (http://www.gtrexcapital.com) is a Business Development Company pursuant to the Investment Company Act of 1940 whose core focus is to assemble an investment portfolio of investments into businesses related to the travel industry.
Its initial portfolio investment, Global Travel Exchange, Inc., has launched its Voyager Network travel distribution platform, which provides a service that enables direct access to reservation systems of major travel suppliers such as airlines, cruise lines, hotels, car rental companies and providers of other travel amenities. Through the Voyager Network searches for the availability and price for the itinerary suggested by the buyer over all direct connected suppliers and existing Global Distribution Systems (GDS), Global Travel Exchange presents the results in an easy to understand format. Besides improved brand and revenue management, suppliers save distribution costs while providing efficient service to major customers through a direct connection. Global Travel Exchange is positioned to market its services through travel distribution partners, contributing to the expansion of the Company's marketing channels and expedite revenue growth.
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