The closing date for MPH Ventures’ acquisition of a 20 per cent interest in Travelucion SL in exchange for common shares of MPH Ventures and USD100,000 in cash with an option to acquire the remaining 80 per cent interest, has been extended to 30 September.
Travelucion is a cash-flow positive online travel media company that specialises in travel marketing, electronic reservation and online booking solutions for international visitors to Cuba. It owns one of the most significant portfolios of Cuba focused web properties and domains that have been promoting Cuba and offering online travel services to the Caribbean nation since 1995. Recently, Travelucion's revenues have been increasing in the wake of the notable shift in American policy towards Cuba as diplomatic relations between the two nations normalise and with travel restrictions on Americans visiting Cuba expected to gradually relax. Online booking is one of the fastest growing sectors in the travel industry and Travelucion is poised to take advantage of this rapid growth.
Travelucion owns 100 per cent of 432 web assets popularising Cuban Culture, Music, Celebrities, over sixty major tourist destinations, Golf, Banking and Commerce which collectively generate over 30 million page-views per year. Through legacy agreements with Cuba's largest travel companies, Travelucion's emblematic e-commerce brands like Havanatur.com, Cuba VIP and GoCuba provide the company with access to a broader and more diverse portfolio of national travel and tourism packages in Cuba than any other travel provider. Travelucion is also uniquely established to handle the travel requirements of qualified US travellers to Cuba. This allows permitted US travellers, in addition to non-US travellers, the ability to indulge in high end hotel and spa accommodations or create uniquely Cuban travel packages with exclusive private home rentals, exotic/antique car services and access to a multitude of exhilarating guided or self-discovery tours across Cuba. Travelucion has also developed a strong social media platform of passionate Cuba social media followers across Facebook, Twitter, Pinterest and Instagram.
MPH Ventures and Travelucion will continue to expand the existing travel and Cuba focused marketing initiatives in numerous sectors with a specific spotlight on the emerging US-Cuba travel market.
