VANCOUVER, British Columbia, June 01, 2020 (GLOBE NEWSWIRE) — RevoluGROUP Canada Inc. (TSX-V: REVO), (Frankfurt: IJA2) (the “Company”) is pleased to announce an update concerning the RevoluVIP Travel Division.
Since travel is gradually recommencing in numerous countries around the world, the Company wishes to revisit the 24th April 2020 measures revealed just over one month ago. Thus, the Company would like to update shareholders as to the varied developments within the RevoluVIP Travel Division.
Government Relief Petition
The wholly-owned subsidiary Travelucion S.L. petitioned for a 50,000 euro (approx. 76,000 $CA) Spanish government-backed travel sector-specific COVID relief program. The Company expects this petition to granted and will update shareholders accordingly.
Renegotiated Partner Grants and Rebates
The Company solicited a revision of upcoming invoices from technology partners Constellation Software Inc subsidiary Juniper. Under this revision, the Company obtained approximately 12,000 euro (Approx. 18,000 $CA) reduction on invoices and nearly 42,000 euro (Approx. 64,000 $CA) in annual GDS connection concessions covering ten new wholesale suppliers which the Company is now integrating at zero cost. The Company’s launch investment in RevoluVIP was entirely satisfied in 2019. The platform, besides some aesthetical homepage changes, requires only minimal monthly expenditures to sustain operationally.
Uninterrupted Operations of RevoluVIP
The Company’s travel division is primarily automated in its function, requiring minimal human interaction for outgoing travel sales. The platform has continued to function throughout the COVID pandemic without difficulties, generating reduced but consistent revenue, boasting 120 worldwide country websites and, notable cost-free visibility on organic web searches.
New Suppliers For RevoluVIP
The Company has diligently pushed forward throughout the COVID pandemic, utilizing the lull in travel to negotiate and capture new wholesale suppliers. The following is a list of additional RevoluVIP suppliers accessible in the coming weeks:
Nexus Tours – The Company welcomes NEXUS Tours as a wholesale supplier to the RevoluVIP Travel Club net rate platform for Hotels, Package Deals, Transfers and Excursions in the Caribbean Basin.
SeeUSATours – The Company welcomes See USA Tours as a wholesale supplier to the RevoluVIP Travel Club net rate platform for Hotels, Package Deals, Transfers and Excursions in the United States.
WebBeds – The Company welcomes WebBeds trading as SunHotels as a wholesale supplier to the RevoluVIP Travel Club net rate platform for worldwide hotels.
HotelDo – The Company welcomes HotelDo to the RevoluVIP Travel Club net rate platform as the LATAM Regional leader in online and XML hotel distribution, supplying accommodation-based travel products under a wholesale agreement.
Agoda – The Company welcomes Agoda.com to the RevoluVIP Travel Club net rate platform as an online wholesaler and metasearch engine for hotels, vacation rentals, flights, and airport transfers. This latest agreement with Agoda is in addition to the previous VCC processing.
CarTrawler – The Company welcomes CarTrawler, a world-leading end-to-end travel technology solution for ground-based transport solutions to the RevoluVIP Travel Club net rate platform for worldwide car rentals, shuttle services, transfers, and limousines.
2020 Member Projections For RevoluVIP
The Company recognizes that it did not achieve the RevoluVIP Travel Club member target projected for 2019, due primarily to numerous external technical and supplier issues now resolved out of court and the unlimited payments processing delay associated with the recently granted PSD2 license. The Company’s goal is therefore preserved for the year 2020, a year in which management envisages a seismic shift in consumer habits, especially those who seek close to net-price travel services through the Diamond Membership program. By leveraging RevoluPAY users from all verticals, select white-label initiatives, and partner databases, management predicts a rapid upsurge in members as the year progresses. Furthermore, the Company forecasts a concurrent reduction in rival travel suppliers as several succumb in the aftermath of the COVID pandemic. The unique cost-efficient structure of RevoluVIP is likely to excel in this emerging, drastically changed post-COVID travel market. RevoluVIP Presentation
Links Utilized in This News Release
RevoluVIP – https://revolugroup.com/travel/members-only-travel-club/
Constellation Software – https://web.tmxmoney.com/quote.php?qm_symbol=csu NexusTours – https://www.nexustours.com/
SeeUSATours – https://www.seeusatours.com/hotels/
WebBeds – https://www.webbeds.com/
HotelDo – https://www.hoteldo.com/
Agoda – https://www.agoda.com/
CarTrawler – https://www.cartrawler.com/
RevoluVIP +120 websites – https://canadavip.com/pages/info/sites
The Company’s flagship technology is the PSD2 Licensed RevoluPAY®, the Apple and Android multinational payment app. Built entirely in-house, RevoluPAY features proprietary, sector-specific, technology of which the resulting source code is the property of the Company. RevoluPAY’s built-in features include Leisure payments, travel payments, forex, retail and hospitality payments, Remittance payments, Real Estate payments, Healthcare Payments, Egaming, Esports, pay-as-you-go phone top-ups, Utility Bill payments, alternative Lending, etc. RevoluPAY is powered by blockchain protocols, and, is squarely aimed at the worldwide multi-billion dollar leisure sector and, + $595 billion family remittance market. RevoluPAY® is operated by the European wholly-owned subsidiary RevoluPAY EP S.L located in Barcelona. RevoluPAY EP S.L is a fully self-licensed European PSD2 payment institution under the auspices of EU Directive 2015/2366. RevoluGROUP Canada Inc. controls five wholly-owned subsidiaries on four continents.
About RevoluGROUP Canada Inc.:
RevoluGROUP Canada Inc. is a multi-asset, multidivisional publicly traded Canadian Company deploying advanced technologies in the; Online Travel, Vacation Resort, Mobile Apps, Money Remittance, Mobile Phone Top-Ups, EGaming, Healthcare Payments, Esports, Invoice factoring, Blockchain Systems, and Fintech app sectors. Click here to read more.
For further information on RevoluGROUP Canada Inc. (TSX-V: REVO), visit the Company’s website at www.RevoluGROUP.com. The Company has approximately 165,042,105 shares issued and outstanding.
RevoluGROUP Canada, Inc.
For further information contact:
RevoluGROUP Canada Inc.
Telephone: (604) 685-6465
Toll Free: 800-567-8181
Email: [email protected]
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This release includes certain statements that may be deemed to be “forward-looking statements”. All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.
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