Cuba Ventures Travel Division Signs MOU with Booketea

Cuba Ventures Corp. Travel Division is pleased to announce that it has entered into a memorandum of understanding (MOU) with Booketea for bilateral GDS integration into all 432 of the Cuba Ventures propriety Cuba-Centric websites for a payment of $25,000 euros.

Booketea is Europe’s leading travel industry specialist, having provided similar GDS booking Technology for Segway Trip Inc, Fred Olsen Ferries, and Spa wellplus. Simultaneously, an MOU was signed with Enjoysea.com, a worldwide nautical activity marketer.

This MOU includes worldwide distribution of Cuba’s enormous array of water sport activities, catamaran cruises, diving, jet ski and other nautical activities contracted through Travelucion, a wholly owned subsidiary of Cuba Ventures Corp. The Company expects increased revenues from its travel division as a result of these upcoming synergies.

The Company owns possibly the world’s largest network of Cuba digital media assets, 432 Cuba-centric websites generating approximately 35 million visitors annually, and selling Cuba travel services from multiple associate sources.

The Global Distribution System (GDS) is a worldwide travel distribution network operated by, amongst others, Amadeus, Sabre and Travelport. Most travel offers displayed on famous retail travel websites are in fact derived from the GDS, then displayed as proprietary offers by travel marketers worldwide.

With the proposed partnership with Booketea, the Company will create a bilateral channel to the GDS, allowing worldwide sales on third party websites of services originating from ourselves, while likewise displaying offers from third parties under a commissionable structure on the Company’s propriety websites.

This is an important step, especially for the nascent U.S. market, where over 90% of travel offers displayed on travel websites are derived from a GDS related source. Being a GDS supplier and seller aligns the Company with the two major U.S. travel giants, allowing its Cuba Travel offers to be transparently distributed by these when it is legal, under U.S. law, for them to do so.