LAS VEGAS, Dec. 14, 2011 /PRNewswire/ -- SIPP
International Industries, Inc. (OTCBB: SIPN), a diversified
holding company in the food, hotel and broadcasting industries, is
pleased to report the company has completed its acquisition of
Newport Creek Hospitality Corporation which includes contracts to
develop and manage hotels in Japan. SIPP is projecting generating revenue
from this acquisition in the first quarter of 2012. The first of
three new hotel projects is being completed in the first
quarter of 2013. Upon completion of each hotel, SIPP International
Industries will manage the locations and receive monthly revenues
for the duration of the contracts through its newly acquired
subsidiary.
The first hotel located in Fujinomiya Japan will hold 150 full
service rooms. Based on comparable analysis in the area, management
estimates the occupancy rate for the first year of 70 percent. The
daily rental rate per room will be $114.00. Management projects to break
ground in the 1st Quarter of 2012 with a target opening date 18
months later.
The second and third hotels are located in Kyoto Japan, the first of these two projects
will be Rokkoko and will hold 90 rooms with full food and beverage.
The existing buildings at the location will be converted into a
boutique style hotel in a high energy area of Kyoto. Renovations are scheduled to begin in
the second quarter of 2012 with a target opening date scheduled for
the first quarter of 2013.
The recent contracts in Japan
are part of SIPP International Industries acquisition of Newport
Creek and include a long list of hotel development and management
projects spanning over several years. Some of Newport Creeks latest
hotel contracts included a World Class Resort, Fairways and
Bluewater Resort Golf and Country Club on the magnificent Island of
Boracay in the Philippines. The
resort comprised hotel rooms, time share condominiums, the
Championship Graham Marsh Designed Golf Course, the club house, all
food and beverage facilities, member relations, and all guest and
member activities and functions including special events. Newport
Creek also managed 2 other hotels in the
Philippines and worked as consultant for others including a
new full service hotel that was under construction on the island of
Boracay.
"We are extremely excited to team up with Newport Creek and
receive the latest hotel development and management contracts in
Japan. These contracts will allow
us to generate additional contracts throughout Asia," stated Gregg
Pearson, Chairman of SIPP International Industries, Inc.
About SIPP International Industries, Inc.:
SIPP International Industries, Inc. is the holding company for
"au" Le Cadeau Natural Mountain Spring Water, La Bon Table Gourmet
Dinner Entrees, the Z-CAC Controlled Atmosphere Container, La Bon
Table Productions (the Homer Lee Thomas Show), Cell Robotics Infant
Lazette and affiliated medical products, and Newport Creek
Hospitality.
For more information please contact Investor Relations at (973)
351-3868 or visit http://www.sippiii.com.
Safe Harbor Statement:
Statements about the Company's future expectations and all other
statements in this press release other than historical facts, are
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933, Section 21E of the Securities Exchange
Act of 1934, and as that term is defined in the Private Securities
Litigation Reform Act of 1995. The Company intends that such
forward-looking statements be subject to the safe harbors created
thereby.
The above information contains information relating to the
Company that is based on the beliefs of the Company and/or its
management, as well as assumptions made by any information
currently available to the Company or its management. When used in
this document, the words "anticipate," "estimate," "expect,"
"intend," "plans," "projects," and similar expressions, as they
relate to the Company or its management, are intended to identify
forward-looking statements. Such statements reflect the current
view of the Company regarding future events and are subject to
certain risks, uncertainties and assumptions, including the risks
and uncertainties noted. Should one or more of these risks or
uncertainties materialize, or should underlying assumptions prove
to be incorrect, actual results may vary materially from those
described herein as anticipated, believed, estimated, expected,
intended or projected. In each instance, forward-looking
information should be considered in light of the accompanying
meaningful cautionary statements herein. Factors that could cause
results to differ include, but are not limited to, successful
performance of internal plans, the impact of competitive services
and pricing and general economic risks and uncertainties.
Contact:
Investor Relations:
Taylor Capitol, Inc.
Stephen Taylor
(973) 351-3868
info@thestockalerts.com
www.thestockalerts.com
SOURCE SIPP International Industries, Inc.