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Affinity International Travel Systems Successfully Completes Its Acquisition of Prestige Travel Services.


ST. PETERSBURG, Fla.--(BUSINESS WIRE)--Feb. 10, 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 successfully completed its acquisition of Prestige Travel Services II Inc., a Tampa, Florida-based retail travel network focused on the leisure segment of the travel industry, and its related travel agent and cruise businesses.

Prestige is expected to post 1998 gross revenues of approximately $17 million. This marks the second completion of five announced acquisitions that the company has undertaken, bringing Affinity's projected revenues to more than 20 million dollars on an annual basis.

Now that Affinity has completed its acquisition of Prestige Travel, it expects to quickly complete the Design-A-Tour, Travel Systems International, and Inter Island Tours acquisitions, raising gross revenues from 20 million to over 28 million dollars.

Dan Brandano, chief executive officer of Affinity International Travel Systems Inc., stated, "This marks another step in meeting our goals of rapid growth. Now that we have successfully completed our second acquisition, we will quickly be moving forward towards our goal of closing three that are still pending and continue to further our search for other quality companies to acquire."

Included in the acquisition is Prestige's Independent Travel Agent Program which provides training, technical connectivity, and support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services  for over 1,200 outside sales agents in the U.S. In addition to the standard travel agency revenues, the program generates income through enrollment and training fees, and enables outside agents to book travel and airline tickets over a dedicated Internet connection to the Tampa headquarters. Also included in the acquisition is the recently integrated Tampa-based Internet cruise marketing subsidiary, Cruise Brokers.

Prestige is licensed and bonded to sell travel in Florida and California, accredited accredited

recognition by an appropriate authority that the performance of a particular institution has satisfied a prestated set of criteria.


accredited herds
cattle herds which have achieved a low level of reactors to, e.g.
 by the Airlines Reporting Corp. (ARC) and the International Airlines Travel Agent Network (LATAN LATAN Louisiana Assistive Technology Access Network ), and a member of the Cruise Lines
See also List of ferry operators
This is a list of cruise lines, companies that operate cruise ships.
Name Headquarters
A'rosa Europe
NCL America America
AIDA Cruises Europe
American Cruise Lines America
 International Association (CLIA CLIA Clinical Laboratory Improvement Amendments of 1988 Congressional legislation that promulgated quality assurance practices in clinical labs, and required them to measure performance at each step of the testing process from the beginning to the end-point of a ). The company utilized both the Sabre and Amadeus airline computerized reservation and ticketing systems. Both Prestige and Cruise Brokers market vacation services over the Internet at www.ptstravel.com and www.cruisebrokers.com, respectively.

Affinity International Travel Systems is a holding company that has, over the past two years, developed a technology platform in conjunction with The Sabre Group (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.

Note to Editors: 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.
COPYRIGHT 1999 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1999, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Geographic Code:1CANA
Date:Feb 11, 1999
Words:495
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