LOS ANGELES, CA–(Dec 12, 2016) – ASAP International Holdings ("ASAP") (OTCQB: ASAE) announced today that it has successfully advised on the acquisition for UHON Inc. of The Shores Resort and Spa located in Daytona Beach, Florida which closed on November 1, 2016.
Renovation plans are still in early stages. UHON Inc. plans on upgrading the resort hotel to match the local history of Daytona as well as improve the hotel for long term ownership. The Shores Resort opened in 1973 and is the only hotel in Volusia County with a four-diamond rating from AAA auto club. The Shores Resort & Spa combines the exciting spirit of Daytona with the service and luxury resort amenities you well deserve.
The Shores Resort & Spa is located in beautiful Daytona Beach Shores, FL, a barrier island on the Atlantic Ocean. Just 5.5 miles long and a few hundred yards wide, the City features a pristine beach in a quiet neighborhood setting. The luxury hotel offers an area of uncrowded beaches, family friendly parks and great dining establishments. We are conveniently located near many popular attractions and shops.
"This is a tremendous opportunity to reinvest into a beloved Daytona Beach icon and transform the resort into a world-class destination. The Shores Resort and Spa is shining diamond for the community, and we are excited to step in to help shape the future of such a storied hotel that has charmed guests for decades," said Frank Yuan, CEO of ASAP. "We especially like to thank all the parties involved to make the acquisition smooth including Jake Stahler from Eton Capital Advisors with the loan and Andrew Hanson from Sherry Meyerhoff Hanson and Crance LLP as the general counsel."
Mr. Frank Yuan stated, "Thanks to UHON Inc. for patiently and consistently working with all parties to make this transaction successful."
CEO Frank Yuan and CIO Jerome Yuan led the ASAP team on transactions. ASAP is one of the most active hotel buyers in the U.S. For the past five years, the company has constantly identified hotels and will remain active on the hospitality buy side for the foreseeable future.
