OneTravel Holdings, Inc. -Formerly - RCG Companies Incorporated- Retains Rubenstein Public Relations
15 Junho 2005 - 12:53PM
Business Wire
OneTravel Holdings, Inc. (AMEX:OTV), a diversified travel and
leisure company, has retained Rubenstein Public Relations to
provide public relations services for the Company. Rubenstein will
work with the Company to raise awareness of: -- The Company's new
name, "OneTravel Holdings, Inc." (www.onetravelholdings.com), which
was recently changed from RCG Companies Incorporated; and -- The
Company's transition from a diversified holding company model to a
100% online and offline travel company. Rubenstein will also
provide public relations services for the Company's portfolio of
leading brands 1-800-CheapSeats (www.cheapseats.com), OneTravel
(www.onetravel.com), 11th Hour Vacations (www.11thhour.com),
Discount Hotels (www.discounthotels.com) and SunTrips(R)
(www.suntrips.com). 1-800-CheapSeats and OneTravel operate
direct-to-consumer full-service travel businesses through their Web
sites and through call center operations, 11th Hour Vacations
offers vacations packages, Discount Hotels offers value rates for
hotels, and SunTrips operates a leisure tour operation with
destinations in Mexico, Hawaii, Costa Rica, Azores and the
Dominican Republic. "We have been pleased with the growth we have
seen in our bookings, which shows that we have the ability to
attract people to our Web sites and that our offerings are
well-priced. To date, our marketing has been focused on making a
real-time sale to people who are actually online shopping for
travel information or looking to book travel plans. Having a firm
with Rubenstein's expertise in generating brand awareness and media
coverage is imperative for us as we look to communicate our story
and market our travel offerings on a broader spectrum. We want that
brand awareness to reach from the travel consumer community to the
Wall Street and investor community," said OneTravel Holdings
Chairman, William Goldstein. "We are excited to be representing
OneTravel Holdings," said Richard Rubenstein, President of
Rubenstein Public Relations. "The online travel market is thriving,
and we look forward to helping OneTravel Holdings build its brands
so that it can fully capitalize on its comprehensive assortment of
travel products and services." About OneTravel Holdings, Inc.
OneTravel Holdings, Inc. (www.onetravelholdings.com) derives all of
its revenues from its travel business subsidiaries, FS SunTours,
Inc., which sells leisure and vacation travel packages under the
SunTrips(R) brand (www.suntrips.com); Farequest Holdings, Inc.,
operating under the name 1-800-CHEAPSEATS (www.cheapseats.com) and
OneTravel, Inc. (www.onetravel.com), both of which are leading
online and offline providers of a full range of travel services.
The Company also operates additional travel Web sites that generate
additional revenue. About Rubenstein Public Relations, Inc.
Rubenstein Public Relations is synonymous with integrated media
campaigns, special events and high-visibility coverage. Thirty
professionals demonstrate the power of publicity every day for the
firm's corporate, consumer and entertainment clients across the
country. Rubenstein Public Relations, founded by Richard Rubenstein
over 15 years ago, is one of New York City's premier media
agencies. Statements in this news release about anticipated or
expected future revenue or shareholder value growth or expressions
of future goals or objectives, including statements regarding
market conditions or whether current plans to grow and strengthen
the Company's business will be implemented or accomplished, are
forward-looking statements within the meaning of Section 21E of the
Securities Exchange Act of 1934, as amended. When used in this
release and documents, the words "anticipate", "believe",
"estimate", "expect" and similar expressions, as they relate to the
Company or its management, are intended to identify such
forward-looking statements, but are not the exclusive means of
identifying these statements. All forward-looking statements in
this release are based upon information available to the Company on
the date of this release. Any forward-looking statements involve
risks and uncertainties, including the risk that the Company will
be unable to grow or strengthen its business due to a lack of
capital or a change in market demand for its products and services
or to fully or effectively integrate all business units or the
inability to realize anticipated cost savings or revenue and
stockholder value growth opportunities associated with the
acquisitions of Farequest Holdings, Inc. and OneTravel, Inc. There
is also a risk that the Company's shareholders will not approve
certain matters related to the sale of preferred stock, which would
require a redemption that the Company may not be able to fund. The
Company has previously mentioned in conference calls that gross
bookings are not equal to gross revenues under generally accepted
accounting principles, so no inference can be made about
profitability based on gross bookings unless expressly stated by
the Company. There is also no certainty that the Company will be
successful in its quest to secure strategic alliances in its
efforts to restructure its SunTrips operations. The Company is also
subject to those risks and uncertainties described in the Company's
filings with the U.S. Securities and Exchange Commission ("SEC"),
including the Company's historical losses and negative cash flow,
its need for additional capital, including to finance the
$12,500,000 promissory notes payable to the former stockholders of
OneTravel, Inc., and that future financing, if available, will
dilute the Company's current common stockholders. Additionally,
forward-looking statements concerning the performance of the travel
and leisure industry are based on current market conditions and
risks, which may change as the result of certain regulatory,
political or economic events, a shift in consumer travel
preferences, as well as those risks and uncertainties described in
the Company's SEC filings, which could cause actual events or
results to differ materially from the events or results described
in the forward-looking statements, whether as a result of new
information, future events or otherwise. Readers are cautioned not
to place undue reliance on these forward-looking statements.
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