London (Sept. 7, 2010) — Yesterday, the U.S. offices of Mingo Bay Properties announced the development of its “Club 1” brand.
“Our business model focuses on boutique resort properties,” states Paul Self, Chief Executive Officer. “It is extremely important for us to ensure our boutique concept is being correctly packaged, marketed and sold. The only way to guarantee brand integrity is to ensure every component of the guest experience is carefully controlled. Club 1 assures this,” he continued.
Club 1 is targeted to open three sales offices in the United States over the next twelve months. Marketing studies have identified Houston, Dallas and Atlanta as having the best demographics for the new offices.
“Each Sales Centre is designed to deliver approximately $10,000,000 in annualized sales,” continues Mr. Self. “We believe that club sales in urban show rooms are less expensive and more reliable than on site sales. We are removing ourselves from local competition so our results become both predictable and sustainable,” he added.
About Mingo Bay
Mingo Bay Properties Plc, (“Mingo Bay”) is a United Kingdom registered public company with its shares listed on the Frankfurt Stock Exchange (ISIN: GB00B2NPLL36, WKN: A0NBLU). The “Company” refers collectively to Mingo Bay, its subsidiaries, joint ventures, affiliates and partners. We are an international Company specializing in an upscale, ocean-front, resort experience in intimate settings with resorts and developments in Mexico and the Caribbean. Our focus is tropical beaches in exotic locations, with affordable transportation access. Our concept is unique; ocean-front, boutique-style, vacation ownership interests.
This press release contains forward-looking statements based on beliefs of Mingo Bay management. When used in this press release, words such as “anticipate”, “believe”, “estimate”, “expect”, “intend”, “plan” and “project” are intended to identify forward-looking statements. Such statements reflect the views of Mingo Bay Properties Plc as of the date made with respect to future events and are subject to risks and uncertainties. Many factors could cause actual results to be materially different from those projected here, including, among others, changes in general economic and business conditions, changes in currency exchange rates and interest rates, introduction of competing products, lack of acceptance of new products or services and changes in business strategy. Mingo Bay Properties Plc disclaims any intention or obligation to update these forward-looking statements.
Registered Office in England & Wales:
Mingo Bay Properties Plc
2nd Floor, Vintners Place,
68 Upper Thames Street,
London EC4V 3BJ, United Kingdom
UK Company No. 04996793
SOURCE: Mingo Bay Properties Plc