Atlanta, GA -- December 12, 2024 -- InvestorsHub NewsWire --
Vaycaychella, Inc. (OTC
Pink: VAYK) ("VAYK") today announces that it has renewed the
joint-venture agreement to renovate and operate Rufus Rose House,
the only standing Victorian mansion in downtown Atlanta, which has
123 years of history and is a National Register of Historic Place.
The property currently has a cost value of $2.1 million, and is
anticipated to reach a market value of $5 - 8 million upon
completion of renovation.
20% Sweet Equity on $5-8 Million Airbnb
Property
Under the renewed JV agreement, VAYK will continue to manage the
renovation of this historic landmark into a boutique, multi-unit
short-term rental (Airbnb etc.) property. VAYK is entitled to a 20%
"sweet equity" of the JV, and will receive more equity
proportionally when it raises capital for the JV.
"Rufus Rose House is a unique historic treasure and has unrivaled
value as a short-term rental, "says Stephanie Anderl, interim CEO
of Vaycaychella. "Not only its stunning and aged beauty, both
interior and exterior, will appeal to tourists and
vacationists who appreciate its antique value, but also its ideal
location -- sitting in the busiest street, only one block from the
tallest downtown building (the Bank of American Tower), and within
walk distance to numerous attractions including the historic Fox
Theater – promises a future for it to become the most
sought-after Airbnb place in downtown Atlanta."
"Most Sought-After Airbnb Place" to Be Completed Prior
to FIFA 2026
In the year 2023, 71.3 million visitors set their feet in downtown
Atlanta.
Tourism to Atlanta is expected to explode as the city will host
FIFA 2026 world cup. Soccer is the most popular sports in the
world and FIFA world cup is the most important event of soccer,
held only once every 4 years. VAYK aims to complete the
renovation of Rufus Rose House and put it into operation prior to
FIFA 2026.
$157 million Federal Funds granted to Nearby
Neighborhoods
In addition, the city of Atlanta has started a grand project with
$157 million of federal funds, called "the Stitch", which is only
two blocks from Rufus Rose House. The Stitch (https://thestitchatl.com/)
is a transformational civic infrastructure investment committed to
reconnect Downtown and Midtown Atlanta. Once implemented, the
Stitch will create approximately 14 acres of urban greenspace and
transportation enhancements atop a new, 3/4-mile platform spanning
the Downtown Connector between Ted Turner Drive and Piedmont
Avenue. The Stitch is expected to stimulate $2-3 billion in private
real estate investments in surrounding neighborhoods.
Before the launch of the Stitch, Vaycaychella management
estimated that the short-term rental business of Rufus Rose House
may generate $500,000 to $700,000 annually. Now VAYK
management believes that "the upside of Rufus Rose House will be
much higher" despite that no specific numbers have been
provided.
The current owner of Rufus Rose House bought this property in 2021
for $1.65 million, and had since then spent several hundreds of
thousands to repair and reinforce its structure. Its original goal
was to renovate it into an upscale office building. However,
Vaycaychella convinced the owner that this property is more
suitable for short-term rental, and was entrusted with the
exclusive rights to manage its renovation, and to operate it as an
Airbnb after renovation.
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.
VAYK Contact:
Contact@Vaycaychella.com