CybeRelease: (OTC: BTVL) Enters Joint Venture with National Home Building and Remodeling Corp.
(CybeRelease, January 16, 2007) - Lake Harmony, PA - Best Rate Travel, Inc. (OTC PK: BTVL) via Best Rate Holdings, an operational company, entered into a joint venture agreement with National Home Building and Remodeling Corp. to create International Builders Incorporated to construct its vacation homes and luxury quarter shares. National Home Building and Remodeling Corp. has been in business for over thirty years, its previous name was National Building.
Best Rate Travel Inc. is also in negotiations with another established commercial builder to develop its commercial hospitality projects, details to be released shortly.
“These value added relationships allow us to deliver uncompromising luxury products at a lower cost per unit and lessen our construction cycle, while supporting our aggressive expansion plans in the hospitality industry,” said Mr. Stone, CEO. Additionally, these relationships create another revenue stream, which enhances the value of Best Rate Travel, Inc.
International Builders Incorporated and future strategic alliance partner(s), previously mentioned, will manage the construction of the previously announced Riverside project and other domestic and international projects that are in the pipeline.
On Wednesday, December 27, 2006 Best Rate Travel announced its signing of a Letter of Intent to acquire 105 Riverside LLC, including all associated real estate assets, to build a $35 Million boutique resort in prestigious Pompano Beach, which won the 2005 All American City Award. The resort is scheduled to open October 2008.
Best Rate has already established functional support subsidiaries and operational companies to concentrate on delivering specific aspects of the Company’s hospitality services and wireless customer service support:
CHL Technologies, Inc., a wireless broadband mobile content provider that delivers to smart phones entertainment and ecommerce information in China.
RF Tune, Inc., a fabless radio frequency integrated circuit manufacturing company offering wireless system, chip design, and integrated circuits for the 802.11/Wi-Fi and WiMax market.
Best Rate USA Car Rental currently serves the US, Barbados and Jamaican markets with 2007 expansion plans.
To read the complete release, go to http://finance.yahoo.com/q?s=BTVL.PK
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