Onetravel (AMEX:OTV)
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From Jun 2019 to Jun 2024
OneTravel Holdings, Inc. (AMEX:OTV), a leading online
and offline provider of travel and leisure services, announced today
that it has retained Genesis Select Corporation to initiate a
comprehensive institutional investor relations program.
Genesis Select will work closely with OneTravel Holdings'
management to communicate the Company's compelling business model,
growth strategy and operational progress to portfolio managers, buy-
and sell-side analysts and the investment community at large. Genesis
will also assist OneTravel Holdings in demonstrating to Wall Street
the apparent valuation disparity between OneTravel Holdings and
comparable properties in the marketplace. These properties include
various travel-related entities within Cendant Corp. and InterActive
Corp.
"Genesis Select has demonstrated the ability to generate
significant investor interest in micro-cap companies as measured by
both increased institutional ownership and research coverage for their
clients," said William Goldstein, Chairman and Chief Executive Officer
of OneTravel Holdings. "We have successfully created a degree of
critical mass by aggregating our valuable travel properties that we
market through various Web sites. We have operated under the radar
screen for long enough and feel that it is time to focus
simultaneously on continuing to grow our core businesses and
demonstrating to Wall Street the opportunity that exists in what we
believe is an undervalued equity situation. Genesis Select is a great
partner to have in our attempt to achieve the latter," added
Goldstein.
"OneTravel Holdings, Inc. has been able to demonstrate strong
organic growth through its marketing, emphasis on customer service and
commitment to deliver the best travel value to its customers. Based
upon its track record, we believe that the Company trades at a
significant discount to its public peers," said Budd Zuckerman,
President of Genesis Select. "The Company's business model stands to
benefit tremendously from the ability to further leverage existing
technology across Web sites including www.cheapseats.com,
www.onetravel.com, www.discounthotels.com, www.11thhour.com and
www.suntrips.com. Additionally, the Company's private label program,
which powers the travel sites for operations such as Sam's Club, the
Travel Network and SideStep, provides strong additional distribution
channels and gives us confidence that OneTravel Holdings will be able
to grow significantly faster than its peers," explained Zuckerman.
About OneTravel Holdings, Inc.
OneTravel Holdings, Inc. (www.onetravelholdings.com) derives all
of its revenues from its travel business subsidiaries, FS SunTours,
Inc., which sells leisure and vacation travel packages under the
SunTrips(R) brand (www.suntrips.com), and Farequest Holdings, Inc.,
operating under the name 1-800-CHEAPSEATS (www.cheapseats.com) and
OneTravel, Inc. (www.onetravel.com), both of which are leading online
and offline providers of a full range of travel services.
About Genesis Select Corp.
Genesis Select Corporation (www.genesisselect.com) is an
independent investment advisory and financial communications firm that
specializes in micro through mid-capital public companies. The firm's
senior professionals integrate knowledge and expertise gained over 50
years at prominent Wall Street firms. Genesis Select works closely
with clients to maximize shareholder value through strategic
institutional investor relations and financial communications
programs.
Statements in this news release about anticipated or expected
future revenue or shareholder value growth or expressions of future
goals or objectives, including statements regarding market conditions
or whether current plans to grow and strengthen the Company's business
will be implemented or accomplished, are forward-looking statements
within the meaning of Section 21E of the Securities Exchange Act of
1934, as amended. When used in this release and documents, the words
"anticipate", "believe", "estimate", "expect" and similar expressions,
as they relate to the Company or its management, are intended to
identify such forward-looking statements, but are not the exclusive
means of identifying these statements. All forward-looking statements
in this release are based upon information available to the Company on
the date of this release. Any forward-looking statements involve risks
and uncertainties, including the risk that the Company will be unable
to grow or strengthen its business due to a lack of capital or a
change in market demand for its products and services or to fully or
effectively integrate all business units or the inability to realize
anticipated cost savings or revenue and stockholder value growth
opportunities associated with the acquisitions of Farequest Holdings,
Inc. and OneTravel, Inc. There is also a risk that the Company's
shareholders will not approve certain matters related to the sale of
preferred stock, which would require a redemption that the Company may
not be able to fund. The Company has previously mentioned in
conference calls that gross bookings are not equal to gross revenues
under generally accepted accounting principles, so no inference can be
made about profitability based on gross bookings unless expressly
stated by the Company. There is also no certainty that the Company
will be successful in its quest to secure strategic alliances in its
efforts to restructure its SunTrips operations. The Company is also
subject to those risks and uncertainties described in the Company's
filings with the U.S. Securities and Exchange Commission ("SEC"),
including the Company's historical losses and negative cash flow, its
need for additional capital, including to finance the $12,500,000
promissory notes payable to the former stockholders of OneTravel,
Inc., and that future financing, if available, will dilute the
Company's current common stockholders. Additionally, forward-looking
statements concerning the performance of the travel and leisure
industry are based on current market conditions and risks, which may
change as the result of certain regulatory, political, or economic
events, a shift in consumer travel preferences, as well as those risks
and uncertainties described in the Company's SEC filings, which could
cause actual events or results to differ materially from the events or
results described in the forward-looking statements, whether as a
result of new information, future events or otherwise. Readers are
cautioned not to place undue reliance on these forward-looking
statements.