Dallas, Texas, May 05, 2022 (GLOBE NEWSWIRE) — Vaycaychella, Inc. (OTC Pink: VAYK) (“VAYK”) launched a pilot short-term vacation rental business in Cuba just outside of Havana in 2018. VAYK backed the renovation of ten Art Deco style beach properties originally built in the 1930s and 1940s now operated as vacation destinations available through Airbnb and VRBO. Since that time, the company has added a small boutique hotel in Havana.
The Cuba pilot served as a model for the company’s design and launch of and of an award-winning Peer-2-Peer Alternative Finance Application (APP) for sourcing financing to purchase income producing vacation properties.
VAYK is a technology company democratizing access to the short-term vacation rental property market elevated by the rise of short-term rental APP’s like Airbnb and VRBO.
Cuba is currently hosting a tourism conference as part of a new post Covid campaign to build the economy of Cuba. VAYK is participating.
“Tourism is the second-largest contributor to Cuba’s GDP, providing 10 percent of the island’s gross domestic product in 2019, and it is also the second-largest source of foreign currency.” (LPL)
“The Cuban government expects to welcome 2.5 million international visitors this year, a goal that would bring in some $1.159 billion.” (LPL)
VAYK is preparing to dramatically expand its short-term vacation rental property presence in Cuba with the introduction of a new cryptocurrency strategy.
Adding to the existing functionality democratizing access to financing for the purchase of short-term rental vacation properties, the next version of VAYK’s Peer-2-Peer Alternative Finance APP, launching soon, will introduce fractionalized investment where multiple investors will be able to back a single short-term vacation rental project.
The next version is a first step towards adding the ability to invest in short-term vacation rental projects through the purchase of cryptocurrency.
VAYK has recently purchased a cryptocurrency exchange and work is underway to promptly launch the exchange.
VAYK is hosting an event in Cuba later this month to baby step its way through the first cryptocurrency offering. Participation will be limited but it is not yet closed. The company is still following up with individuals that have expressed interest.
The objective of the event is to raise funds through the issuance of an initial cryptocurrency to fund additional properties in the same vicinity as the existing short-term vacation rental properties in VAYK’s pilot project are located.
The initial cryptocurrency will also be the first cryptocurrency listed on the cryptocurrency exchange recently purchased by VAYK.
Specifically, the cryptocurrency will not be an asset controlled or offered by VAYK. VAYK has backed V-Royal with a loan to acquire the existing pilot properties in Cuba. V-Royal will be facilitating the cryptocurrency offering to fund additional properties. The cryptocurrency will be listed on VAYK’s cryptocurrency exchange.
To learn more and keep up with the latest updates at Vaycaychella, and to access the Vaycaychella App, visit https://www.vaycaychella.com/.
Disclaimer/Safe Harbor: This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company’s current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies’ contracts, the companies’ liquidity position, the companies’ ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur.
William “Bill” Justice