In This Article:
Anderson, South Carolina--(Newsfile Corp. - May 16, 2024) - Ideal Group of Companies, Inc. (OTC Pink: IDGR) ("Ideal Group" or the "Company") subsidiary Travel Zen, Inc. (Travel Zen) reports that it has sold out all of its units from the company's spring break inventory of fractional timeshare bookings for 2024.
Travel Zen owns a portfolio of fractional timeshare units at premium resorts. The units are centered around traditional spring break periods at popular ski and resort areas in the country, mainly in the Vail, Colorado region. Properties in the portfolio include Sheraton Mountain Vista Resort, Sheraton Lakeside Terrace Villas, and Falcon Point Resort.
Over the 2024 season, Travel Zen booked out all 60 of its units for a 100% occupancy rate, resulting in over $50,000 in recurring sales. Profit margins range from 50% for wholesale bookings, up to 100% on retail bookings.
This season's sales represent the second annual cycle of the units being offered under Travel Zen's ownership and the third annual cycle under Travel Zen's parent company, Portfolio Partners, Inc. The company also earned over 50 five-star reviews during this season.
As discussed in a feature article in the May 15, 2024, edition of the Colorado Real Estate Journal, Travel Zen CEO, David Weintraub sees a positive outlook for Travel Zen by focusing on this well-conceived formula in the timeshare space.
"We have proven our concept of a robust and repeatable revenue source within the timeshare market by acquiring valuable fractional units at low cost and generating recurring rental income," stated David Weintraub. "This is Travel Zen's second annual cycle for this inventory of units, and they continue to yield solid results year-over-year, even in uncertain economic times."
"Management sees the consistent performance of unit sales as an early indicator for success. Travel Zen is proving to be a valued growth area for the Company and a strong, repeatable revenue source for Ideal Group of Companies," Weintraub added.
Travel Zen continues seeking additional similar vacation rental opportunities in premium markets to increase its portfolio.
About Ideal Group of Companies Inc.
Ideal Group of Companies Inc. (idealgroupcorp.com) is a diversified real estate and financing company. Its real estate development division under the brand Eclipse Real Estate Development is engaged in acquiring, developing, and operating multifamily, mixed-use, commercial, and residential real estate, vacation rentals and RV resorts, and housing development projects. Its mortgage brokerage division under Oxygen Mortgage Inc. provides consumer mortgage services and, through Oxygen Commercial, provides financing for commercial projects. Ideal Group Inc.'s wholly owned subsidiary, Portfolio Partners, Inc., is the parent company of Travel Zen, Inc., which acquires deeds to fractional timeshares in a portfolio of premium resorts at some of the most popular resorts in the USA. For more information, visit idealgroupcorp.com.