CybeRelease: (OTC PK: BTVL) Intends to Build 90 Room Boutique Resort
(CybeRelease, December 27, 2006) - Lake Harmony, PA - Best Rate Travel, Inc. (OTC PK: BTVL) today signed a Letter of Intent to acquire 105 Riverside LLC, including all associated real estate assets, to build a $35 Million, 90 room boutique resort in prestigious Pompano Beach, which won the 2005 All American City Award. The resort is scheduled to open October 2008. Best Rate Travel, Inc. will own 100% of the overall Pompano Beach resort.
The Riverside resort project will be built on a 27,000 sq. ft. parcel with a 180 ft. frontage on the intracoastal and a marina. The adjoining property to the North is owned and being developed by WCI Communities (NYSE: WCI ). It has been named Oceanside Pompano Beach, and has luxury towers starting at $950,000 per unit. This is just a hint to the potential value of the property being acquired by Best Rate Travel, Inc. (OTC: BTVL)
In addition to easy access to Ft. Lauderdale and Pompano’s vibrant business community and Ft. Lauderdale International Airport, the Riverside project is close to shops, fine dining, theaters and all that Broward County, Florida has to offer.
To read the complete release, go to http://biz.yahoo.com/bw/061227/20061227005274.html?.v=1.
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