Oncology Med, Inc.'s Merger Partner, Haz Holdings, Inc., in Negotiations to Acquire Four Hotel Properties in Midwest

The total purchase price for the properties is expected to be approximately $10 million dollars. The Company and Haz Holdings are currently in the process of securing the financing for these acquisitions.

Karim Bhanji, CEO of Haz Holdings Inc., noted, 'These properties are located in markets ideal for giving the Company a greater visibility in the Midwest.'

The Company announced on February 5, 2007 that it has entered into an agreement to merge a wholly-owned subsidiary of the Company into Haz Holdings, Inc. The Company expects the merger to be completed sometime in March 2007.

About Haz Holdings, Inc.

Haz Holdings owns and manages three mid-scale, full-service hotels in the United States and Canada, under the brand names 'Hotel Marquis & Suites' and 'Marquis Inn & Suites.' Its existing portfolio includes the 174-room Hotel Marquis and Suites Intercontinental Airport hotel in Houston, Texas, the 203-room Hotel Marquis Airport in San Antonio, Texas, and the Marquis Inn & Suites, a 30-room economy hotel with 70 recreational vehicle units in Edmonton, Alberta, Canada.

Management for Haz Holdings estimates its hotel portfolio current market value of $16 million dollars. Haz Holdings estimated 2006 year revenue of approximately $4 million dollars.



Logos, product and company names mentioned are the property of their respective owners.

Reader Comments:

Be the first to leave a comment for this article

Tweet