Pure Hospitality Solutions has rapidly emerged as a potentially key regional player in the booming Central America-Caribbean tourism market, with some gorgeous properties in Costa Rica on and near Jaco Beach, which has experienced considerable growth in recent years due to its scenic beauty and its being considered one of the best surfing beaches in the country. Jaco Beach is also the closest beach to San Jose, resting just over an hour’s drive from Juan Santamaria International Airport and consists of roughly 2.5 miles of enticing, abundant coastline, and is located just south of another famous tourist destination, Herradura Beach.
The company’s Bahia Encantada luxury condos are situated at the northern end of Jaco Beach, with stunning oceanfront views across a series of infinity edge pools, making the location seem to many visitors like a tropical paradise. This 48-unit condominium complex (25% 2-bedroom units and the rest 3-bedroom) is fully furnished with sumptuous accommodations, including modern kitchens featuring solid wood cabinets, granite countertops, stainless steel appliances and all-inclusive cookware, and there is a even a large tri-level swimming pool with swim-up bar right in the center of the complex. Unlike many other beachfront destinations in Costa Rica, Jaco has an extremely impressive downtown area, with high rise towers and some of the most modern condominiums anywhere around, making the location an attractive target for North American tourists.
Bahia Encantada is considered by many to be one of the most beautiful beachfront estates in the entire area and is just southwest of the lush, pristine Carara National Park, where PNOW has recently acquired exclusive property inside the Nativa Resort. The Nativa Resort features luxury homes and condos inside a gated community at the heart of the Carara tropical forest, which features exotic wildlife, mountains, and rivers. In fact, wildlife tourism makes up a popular and growing chunk of the overall tourism market for the region, giving such a locale as Nativa considerable cachet value.
Costa Rica has become an exceptionally hot tourism destination (26.4% market share of the entire Central American region) and yet still has a great deal of room to grow, especially in the luxury suite category. Costa Rica saw a 3.6% tourism jump in 2013 alone to set a new record of just over 2.43M visitors, most of whom were from the U.S. (39%) and Europe (12.4%). And yet, of the roughly 2.5k hotels reported by the Costa Rican Tourism Institute, over half are small family-run outfits, while the rest are mostly big-box chain hotels. PNOW has been aggressively marketing their Bahia Encantada portfolio to take advantage of the relatively low market saturation for their product and has set about a complete overhaul of their Friendly Reservations Online (FROL) booking engine software, which was highly successful in beta testing stateside.
In fact, the FROL hospitality booking engine may even represent an even more compelling draw for potential investors than the company’s real-estate footprint, which was valued around $2.6M on the last quarterly report, as this robust booking system showed significant increases in booking rates and overall results during its 30-hotel U.S. beta testing run. The company has the tools and the expertise to pull off an extremely effective online hospitality booking architecture for this region and PNOW is hard at work setting up the field towards this end, with aspirations to become a leading provider to not only the Costa Rican market, but the broader Central America-Caribbean region as well in the near future, under their “by PURE” brand.
The company has even begun running ads via the well-known international real estate franchise system firm RE/MAX as of October 2014, with strong expectations of pulling down consistent cash flows through the Q4 2014 to Q1 2015 interval in particular, driven by the strength of their Bahia Encantada units’ appeal and the height of the Costa Rican tourist season. Investors will want to keep an eye out for forthcoming revenue data and should pay close attention to the relative valuations on other regional booking engine companies, as PNOW approaches completion of the retooling on their FROL engine sometime early this year.
For more information on the company, visit www.purenow.solutions
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