Business
ORH SpA, Exclusive Agreement With Alpitour SpA
ORH SpA, Exclusive Agreement With Alpitour SpA.
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[{"type":"text","content":"\n \nRNS Number : 4026K Clear Leisure PLC 30 July 2013 \n \n\nClear Leisure Plc\n(\"Clear Leisure\" or \"the Company\")\n \n \nORH SpA, EXCLUSIVE AGREEMENT WITH ALPITOUR SpA\n \nAlpitour S.p.A. (\"Alpitour\"), one of Italy's largest travel operators, has agreed an exclusive contract with the Company's 73.43% owned Italian hotel management company, ORH S.p.A. (\"ORH\" or \"Ora Hotels\").\n \nThe contract provides Alpitour with exclusive booking rights in Italy and Italian speaking Switzerland for a period of three years on the Amarina Resort Hotel in Madagascar. Alpitour will pay a minimum guaranteed value of EUR 4.5 million to ORH during the period under contract.\n \nCommercialisation of the hotel will be through Alpitour's prestigious brand \"Francorosso\" and the exclusivity agreement will run for an initial period of three years, between March 2014 and March 2017 with an option to renew the contract under the same conditions for a further three years.\n \nThis is the second deal for the Ora Hotels brand in the last few weeks. The two contracts signed by ORH reduce the commercial risks involved in managing hotels in foreign destinations; both are long term agreements, with minimum fixed levels of revenues associated to them, with prestigious names in the holiday industry.\n \n- end -\n \n \nFor further information please contact:\n \nClear Leisure Plc +39 02 4795 1642\nAlfredo Villa, CEO &...