MEDIA RELEASE 30 May 2008
Motel chain owner gains additional business in partnership with BBX reciprocal trade
Raman Pillay, owner of four motels and five food outlets joined BBX over ten
years ago and has found it to be most beneficial for his business. In the last
financial year, 13 per cent of his revenue in his motels and restaurant were
earned in BBX reciprocal trade dollars.
"BBX generates and increases business for my motels and restaurant. The trade
dollars that are generated from customers can then be used to purchase motel
maintenance services, plumbing, property and topping up my superannuation fund
just to name a few," said Pillay.
"I see my relationship with BBX as a partnership, rather than just another
payment method for my business. They bring me additional business that I
wouldn't otherwise gain and I use their BBX members to help maintain my
properties.
"Last year I was even able to put 160,000 BBX dollars into superannuation which
is a huge benefit to me," added Pillay.
Raman Pillay's business is a family affair employing his wife Shyla, daughter
Deepa and son Arvind. The family came to Australia from India 16 years ago. In
India Raman began his career with the Hilton and Marriot hotel chains after he
gained a hotel management degree. He then owned his own business in India before
by settling in Australia.
His motels include the Windsor Terrace Motel and Windsor Motel in Windsor, NSW;
the Ascot Motor Inn in Wahroonga and Killara Inn Hotel in Killara, both on
Sydney's north shore.
"My business is constantly growing. I recently acquired the Killara Inn Hotel
and have been happily accepting BBX from mostly business travellers," said
Pillay.
BBX has been embraced by businesses in the hospitality industry, the membership
based trading program offers owners an opportunity to increase revenue and
offset idle inventory.
The trade exchange uses its own currency (BBX dollars), which has the same value
as Australian currency, to assign value to the transactions that take place
between member businesses. In essence, the exchange acts as the third party
record keeper, similar to a bank, and provides a sophisticated bartering market
where thousands of transactions take place.
BBX successfully listed on the ASX in August 2005 to become the only publicly
listed barter exchange managers in the world to be listed on a main board. It is
a membership based trading program whose primary role is to generate new
business for all types of businesses and to show business owners how to offset
many current cash expenses by utilising the down time or idle inventory in their
business.
The company also offers a broader range of financial services in areas such as
mortgage broking via BBX Money, including leasing, business finance and general
loans in both cash and trade dollars, financial planning through their latest
initiative, BBX Financial Advisers, insurance services through BBX Insurance,
mainly offering 'Business Packs', and property services through BBX Real Estate
and its NSX-listed BBX Property Investment Fund (www.bbxpropertyfund.com.au).
BBX has offices and/or franchises situated throughout Australia and operates in
both islands of New Zealand. Member businesses in these two countries traded in
excess of $188 million in the financial year ending 30 June 2007, averaging over
$33,000 per active member business.
Franchises have also been established in Costa Rica, India and China, with other
international franchises currently being negotiated.
BBX can be contacted by phoning 1800 222 229 or visiting the website
www.ebbx.com. BBX Money can be contacted by
phoning 1300 200 BBX (1300 200 229).
Released for BBX by Dennis Rutzou Public Relations (www.drpr.com.au)
For further information please call Nicola Rutzou or Joanna Gitsham on (02) 9413
4244.
|
|
 |
|
