Affinity International Travel Systems Signs Agreement to Acquire Las Vegas Wholesaler, Tours by Charlie.ST. PETERSBURG, Fla.--(BUSINESS WIRE)--April 8, 1999--Affinity International Travel Systems Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:TRIP) announced today that it has signed a letter of intent to acquire Ft. Lauderdale based Tours by Charlie. Tours by Charlie is a wholesale tour operator specializing in complete package tours to multiple gaming destinations. This marks the fifth acquisition for Affinity, three of which Affinity has already completed. Affinity's CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Daniel G. Brandano commented, "By acquiring Tours by Charlie, Affinity saved a considerable amount of time and resources instead of launching a Las Vegas Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. program on our own. This acquisition affords us a quick market penetration Noun 1. market penetration - the extent to which a product is recognized and bought by customers in a particular market penetration - the act of entering into or through something; "the penetration of upper management by women" and opens numerous other opportunities. We plan to expand the Tours by Charlie program from its South Florida base to a nationwide and internet based program, over the next 12 months." Tours by Charlie has been in operation since 1993 and was created by Charles Spierer, formerly the Director of Player and Program Development for the Sands Hotel The Sands Hotel was a legendary Las Vegas, Nevada hotel/casino that operated from December 15, 1952 to June 30, 1996. It was the seventh resort that opened on the Las Vegas Strip. It was designed by architect Wayne McAllister. in Las Vegas. He is also the National Vice President of Marketing for the Player's Club International, an organization that was originally launched with the famous Telly Savalas advertising campaign. Mr. Spierer will join the management team of SunStyle International Holidays, a unit of Affinity where he will serve as Vice President of Product Marketing, Gaming Destinations. Mr. Spierer commented, "I am excited about joining the Affinity team and the prospects of this new division. Affinity possesses the technology, Internet presence and management infrastructure we lacked at Tours by Charlie, factors which curtailed our growth." Further, he added, "This is a great time to bring new gaming destination programs to the market. We are confident that the newer hotels that have been built in Las Vegas such as Mirage Resorts, Bellagio, Treasure Island, Monte Carlo, Flamingo Hilton, and the New Frontier as well as hotels in Biloxi, such as Beau Rivage and Isle of Capri, hotels which we have wholesale tour agreements in place, are creating a renewed interest in those destinations. Our existing wholesale contracts and extensive contacts will allow SunStyle to launch a very competitive product." Tours by Charlie is the leading wholesaler of package tours to Las Vegas from South Florida. Other destinations served by the company include the Mississippi Gulf Coast The Mississippi Gulf Coast refers to the three Mississippi counties which lie on the Gulf of Mexico: Hancock County, Mississippi, Harrison County, Mississippi, and Jackson County, Mississippi. , Nassau Bahamas, Atlantic City, Aruba, Puerto Rico, St. Marteen and Santo Domingo. The company also specializes in group tours from 40-400 people. Affinity International Travel Systems is a holding company that has, over the past two years, developed a technology platform in conjunction with Sabre Inc. (NYSE NYSE See: New York Stock Exchange :TSG TSG The Smoking Gun (web site) TSG Technology Services Group (UK) TSG Technical Specification Group TSG Timing Signal Generator TSG Technical Support Group TSG Tumor Suppressor Gene TSG ThermoSalinoGraph ), and Internet strategies designed to allow quick integration of acquisitions, dramatically cutting their operational costs while increasing their revenues and profitability. The company plans to continue its dramatic growth by aggressively seeking out acquisition candidates while providing competitively priced, specialized services to travel agents and individual consumers. Forward-looking statements in this release are made pursuant to the "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the company's products, increased levels of competition, new products and technological changes, the company's dependence upon third-party suppliers, and other risks detailed from time to time in the company's periodic reports filed with the Securities and Exchange Commission. |
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