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Hotel Outsource Management International, Inc.: 5 More Hotels Choose the HOMI® 336 Computerized Minibar System
Business Wire, March 25, 2008
NEW YORK -- Hotel Outsource Management International, Inc. ("HOMI") (NASDAQ:HOUM) has announced the signing of agreements with another 5 hotels, this time in Europe (4 in France and 1 in Belgium).
All 5 hotels are small to mid-size hotels and are considered mid-scale hotels. These hotels have chosen the novel HOMI([R]) 336 Computerized Minibar System as their minibar solution.
Mr. Jacob Ronnel, HOMI's President and CEO, commented: "We are delighted to welcome these hotels as clients of HOMI. Our international marketing program for the HOMI([R]) 336 is already showing results, which is very encouraging. We have already completed one installation of our HOMI([R]) 336 system, and scheduled another installation, at quite large, upscale hotel. So I am pleased that, in addition to upscale Hotels, we have now signed agreements with a range of mid-scale hotels as well, which we definitely consider to be suitable clients for this system."
About HOMI
HOMI was incorporated under the laws of Delaware in 2000. HOMI and its subsidiaries are engaged in the distribution, marketing and operation of computerized minibars in major branded hotel chains located in the United States, Europe, Australia, Israel and South Africa, and in the development and manufacture of a new range of computerized minibars.
HOMI, through its subsidiaries, manages and operates approximately 7,800 computerized minibars at 19 hotels and offers a selection of business models, including rental and full outsourcing. In the full outsourcing model, HOMI's revenues are primarily derived from the operation of new or already installed minibars, through its outsource operation program. HOMI now plans to offer rental services as well, where it will lease its proprietary computerized minibars to hotels, either with, or without, outsource operations services.
HOMI has recently completed the development of its new, proprietary computerized minibar system: the HOMI([R]) 336, which is the first such system to be developed and manufactured by the company. HOMI has applied for patent protection on various features of the new system and has recently completed first major installation of the HOMI([R]) 336 system.
Forward-Looking Statement
This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements relate to future events or to the company's future financial performance. In some cases, forward-looking statements can be identified by terminology such as "may", "will", "should", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "potential" or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause the company's or the industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Although the company believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, levels of activity, performance or achievements. Except as required by applicable law, including the securities laws of the United States, the company does not intend to update any of the forward-looking statements to conform these statements to actual results. The terms, the "Company", "we", "us", "our" means Hotel Outsource Management International, Inc and its subsidiaries, unless otherwise indicated.
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