JZZ Technologies, Inc. Subsidiary, Travel Zen Inc. to Acquire an Additional 300 Resort Vacation Rental Weeks
- Travel Zen's initiative to acquire 300 targeted resort property vacation deeds will significantly increase its portfolio and potentially create increased shareholder value and revenue.
- None.
Anderson, South Carolina--(Newsfile Corp. - December 14, 2023) - JZZ Technologies, Inc.'s (OTC Pink: JZZI) ("JZZ" or the "Company") wholly owned subsidiary, Travel Zen, Inc. ("Travel Zen") JZZ has launched an initiative to acquire a total of 300 targeted resort property vacation deeds to add to its existing portfolio of 60 vacation deeds. The deeds will be vested in JZZ Technologies, Inc.'s subsidiary Portfolio Partners, Inc. - the parent company of Travel Zen, Inc.
Travel Zen is rolling up a portfolio of vacation rental timeshare weeks focused on spring break weeks in some of the most sought-after resorts in the Vail Valley in Colorado. Most of these units are located in Avon, Colorado, providing easy access to the desirable Beaver Creek and Vail ski resorts. Participating resorts include top-tier providers such as the Sheraton Mountain Vista, Falcon Point Resort, and the Sheraton Lakeside Terrace. These resorts handle all aspects of the rental and maintenance program related to Travel Zen deeds.
Portfolio Partners CEO David Weintraub commented, "Travel Zen is targeting the acquisition of these 300 additional timeshare deeds to massively increase our resort vacation portfolio. We will be working with several established providers of timeshare weeks that allow us to expand at a rapid pace. The company is already profitable through the sale of its current portfolio of over 60 weeks, but these additions will increase our portfolio by over
"Our existing and new properties carry a very high profit margin, typically from
Travel Zen plans to acquire a strategic target of 300 additional new weeks over the next 12 months, bringing its total portfolio to over 360 deeded timeshare weeks. This significant increase in the portfolio of timeshare deeds will support acquiring more deeds and expanding market share, potentially creating increased shareholder value, revenue and adding significantly to the company's bottom line.
About JZZ Technologies, Inc.
JZZ Technologies, Inc. is a diversified company engaged in several business sectors. Its real estate development division 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 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 concentrated during spring break at some of the most popular ski resorts in the USA. Its Active Lifestyle Digital media business includes online media and apps, content creation, and digital marketing targeted to active adults 55+. For more information, visit jzztechnologies.com.
Press Contacts:
JZZ Technologies, Inc.
Charles Cardona, CEO
ceo@jzztechnologies.com
Portfolio Partners, Inc.
David Weintraub, CEO
Tel. +1-813-240-2600
DISCLAIMER and FORWARD-LOOKING STATEMENTS
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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