Anderson, South Carolina--(Newsfile Corp. - May 16, 2024) - Ideal Group of Companies, Inc. (OTC Pink: IDGR) ("Ideal Group" or the "Company") subsidiary Travel Zen, Inc. (Travel Zen) reports that it has sold out all of its units from the company's spring break inventory of fractional timeshare bookings for 2024.
Travel Zen owns a portfolio of fractional timeshare units at premium resorts. The units are centered around traditional spring break periods at popular ski and resort areas in the country, mainly in the Vail, Colorado region. Properties in the portfolio include Sheraton Mountain Vista Resort, Sheraton Lakeside Terrace Villas, and Falcon Point Resort.
Over the 2024 season, Travel Zen booked out all 60 of its units for a 100% occupancy rate, resulting in over $50,000 in recurring sales. Profit margins range from 50% for wholesale bookings, up to 100% on retail bookings.
This season's sales represent the second annual cycle of the units being offered under Travel Zen's ownership and the third annual cycle under Travel Zen's parent company, Portfolio Partners, Inc. The company also earned over 50 five-star reviews during this season.
As discussed in a feature article in the May 15, 2024, edition of the Colorado Real Estate Journal, Travel Zen CEO, David Weintraub sees a positive outlook for Travel Zen by focusing on this well-conceived formula in the timeshare space.
"We have proven our concept of a robust and repeatable revenue source within the timeshare market by acquiring valuable fractional units at low cost and generating recurring rental income," stated David Weintraub. "This is Travel Zen's second annual cycle for this inventory of units, and they continue to yield solid results year-over-year, even in uncertain economic times."
"Management sees the consistent performance of unit sales as an early indicator for success. Travel Zen is proving to be a valued growth area for the Company and a strong, repeatable revenue source for Ideal Group of Companies," Weintraub added.
Travel Zen continues seeking additional similar vacation rental opportunities in premium markets to increase its portfolio.
About Ideal Group of Companies Inc.
Ideal Group of Companies Inc. (idealgroupcorp.com) is a diversified real estate and financing company. Its real estate development division under the brand Eclipse Real Estate Development is engaged in acquiring, developing, and operating multifamily, mixed-use, commercial, and residential real estate, vacation rentals and RV resorts, and housing development projects. Its mortgage brokerage division under Oxygen Mortgage Inc. provides consumer mortgage services and, through Oxygen Commercial, provides financing for commercial projects. Ideal Group Inc.'s wholly owned subsidiary, Portfolio Partners, Inc., is the parent company of Travel Zen, Inc., which acquires deeds to fractional timeshares in a portfolio of premium resorts at some of the most popular resorts in the USA. For more information, visit idealgroupcorp.com.
Contacts:
Ideal Group of Companies Inc.
Tel. +1-833-433-2599 Ext. 2
Charles Cardona, CEO
ccardona@idealgroupcorp.com
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Certain statements contained herein are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, and such Forward-Looking Statements are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to the viability of the Company's business plans, the effect of acquisitions on our profitability, the effectiveness, profitability, and the marketability of the Company's products; the Company's ability to protect its proprietary information; general economic and business conditions; and the volatility of the Company's operating results and financial condition. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates, and projections about the Company and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances or to changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, management cannot assure the public that their expectations will turn out to be correct. Investors are cautioned that actual results may differ materially from the anticipated results.
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