Beneficial Holdings, Inc. (PINKSHEETS: BFHJ), a casino and hospitality investment and management holding company, through its subsidiary Recreaciones Beneficial, S.A., owns the Hotel Beneficial in Managua, Nicaragua. The hotel has received all necessary tax, health, and fire permits to begin operations. As such, the hotel plans to officially go online on April 23, 2010. The Company owns the hotel free and clear of all liens.
The hotel has entered into a marketing agreement with Zurich Systems of Switzerland. Zurich will place the hotel’s unsold rooms on electronic travel systems such as Sabre, Amadeus, Galileo, Worldspan, and Pegasus. This will enable over 600,000 travel agents to book the hotel. “We believe that our marketing agreement with Zurich will keep Hotel Beneficial having a full house,” said Alex Papic, Vice President of Beneficial Holdings.
Hotel Beneficial entered into a marketing understanding with the local Pepsi Cola distributor to exclusively offer Pepsi branded products at the facility.
High speed internet lines were installed throughout the facility in every room. “We’re going to build Hotel Beneficial into a brand as we purchase or venture with other hotels. One feature the hotel will offer to travelers is low cost international calls to the United States and Europe. Instead of billing at $1.00 per minute, we’ll charge 10 cents so that people can transact business,” Papic said.
The Company is in the process of completing the contracts for its joint venture for a second hotel location in El Crucero, Nicaragua, and it expects to finalize the arrangement over the next month.