Pure Hospitality Solutions Inc (OTCMKTS:PNOW) has recorded a consistent growth in revenues, on a month-over-month basis. The company recorded a 22% surge in revenue, for the month of January and just after the first 2-weeks of February, PNOW claimed that it is on track to record significant growth, once again. Added to this, Pure Hospitality pointed out that it has a number of new projects, slated for completion, during the FY2017, which would further boost its revenues and help the company achieve profitability.
Commenting on the figures from January, the CEO of PNOW, Melvin Pereira, claimed that the numbers for the month were greater than the figures for the previous three months combined. He also reaffirmed the company’s commitment to offer its shareholders economic returns. For the month of February, the management expects revenue growth to be in double-digits once again. Added to this, the management has also voiced its belief that it expects its month-over-month growth, to double in FY2017. This assumption is based on a maturing market, for Pure Hospitality’s services and products.
Mr. Pereira also claimed that they do not see any reason to slowdown, during FY2017. He further revealed that the company has multiple sources of consistent revenue available, with each of their business ventures expecting to grow in the current year. Over the last few months Pure Hospitality has successfully upgraded its reporting status and form a new preferred share structure, which has enabled PNOW to attract investment, from reputable financial institutions and its shareholders.
As per the company’s statement, their primary goal is to meet their sales target of $1 million, within the next five months. If Pure Hospitality is successful in doing so, it would restore confidence of its shareholders, in the company’s stock. PNOW believes that its debt load has become manageable and they have developed a viable and scalable business model, while also reducing its operating burn rates to a minimum.
Other notable companies in the hospatility sector to watch for are Marriott International Inc (NASDAQ:MAR), MGM Resorts International (NYSE:MGM), Hilton Worldwide Holdings Inc (NYSE:HLT) and Wyndham Worldwide Corporation (NYSE:WYN).