MONTREAL, QUEBEC–(Marketwire – July 14, 2010) – Leisure Canada Inc. (TSX VENTURE:LCN) (the “Company”) welcomes recent developments by the United States House of Representatives.
“The passing of this bill would mean that any US citizen would have the right to travel to Cuba,” stated Robin Conners, President and CEO of Leisure Canada Inc. “Given the easing of sanctions against Cuba in the last year, we believe that there is a strong probability that this bill will pass in the near future. In the meantime, our plans to build the first of several luxury hotels in Cuba are progressing so we can take advantage of what we believe will be an extensive economic and tourism boom post embargo.”
It is up to Speaker Nancy Pelosi to decide when the bill to restore US citizens’ right to travel to Cuba will get to the House floor for a vote, however, she has stated that she favors the bill and will bring it to the floor in the very near future.
Over 130 U.S. human rights, religious, humanitarian and trade groups from around the nation have pledged their support for HR 4645.
Tour operators held a videoconference with Cuban tourism officials in Havana on Wednesday, December 16, 2009, and asked them if they are ready for the “rush” of Americans if the U.S. travel ban is lifted as proposed by legislation now under consideration in the U.S. Congress.
“Americans really want to see Cuba,” said Robert Whitely, president of the U.S. Tour Operators, which together with the National Tour Association also present at the event, handles 75 percent of all package tour business to the Caribbean.
“We predict that at least 850,000 Americans will go to Cuba in the first year,” Whitely said.
A fact-finding study from the U.S. International Trade Commission supports this, noting, “The number of additional U.S. tourists arriving in Cuba annually, following removal of the travel ban, is estimated to be between 500,000 and 1 million.”
About Leisure Canada Inc.
Leisure Canada Inc. is a publicly traded company, incorporated under the laws of Ontario and listed on the TSX Venture Exchange under the symbol “LCN”. The Company is engaged in the business of developing hotel and resort properties in Cuba through its wholly-owned subsidiary, Wilton Properties Ltd. (“Wilton”), in joint venture with Grupo Hotelero Gran Caribe S.A. (“Gran Caribe”), an agency of the Cuban government.
For further information on the Company please visit our website at www.leisurecanada.com. The Company’s public filings, including its most recent audited consolidated financial statements, can be reviewed on the SEDAR website (www.sedar.com).
This news release may contain forward-looking statements and information within the meaning of applicable securities legislation. These forward-looking statements reflect management’s current expectations, estimates, projections, beliefs and assumptions that were made using information currently available to management. In some cases, forward-looking statements can be identified by terminology such as “may,” “will,” “expect,” “plan,” “anticipate,” “believe,” “intend,” “estimate,” “predict,” “forecast,” “outlook,” “potential,” “continue,” “should,” “likely,” or the negative of these terms or other comparable terminology. Although management believes that the anticipated future results, performance or achievements expressed or implied by the forward-looking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on forward-looking statements and information because they involve assumptions, known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from anticipated future results, performance or achievements expressed or implied by such forward-looking statements and information.