VAYK Exited Caribbean Investments for $320,000 Profit
27 June 2024 - 11:00PM
InvestorsHub NewsWire
Atlanta, GA -- June 27, 2024
-- InvestorsHub NewsWire -- Vaycaychella, Inc. (OTC
Pink: VAYK) ("VAYK") announced today that the company has
exited all its holdings of rental properties in Caribbean area, and
realized a net sales profit of approximately $320,000.
In 2020, VAYK acquired
rights to certain properties located in Cuba, for a consideration
of $1.5 million, with the hope that the diplomatic relationship
between the USA and Cuba would be normalized and tourists from the
USA would boost the value of rental properties in Cuba.
In early 2024, the company
decided to refocus its operation on the domestic rental market. The
short rental industry (Airbnb, Vrbo, etc.) in the domestic market
of the USA, which is the largest short-term rental market in the
world, had reached a total gross revenue of $64 billion, according
to AirDnA.
"It is only natural for us
to exit our investments in foreign countries, since our business
will be concentrated in our homeland, particularly in
mega-metropolitan areas such as Atlanta," explained Stephanie
Anderl, the interim CEO of VAYK. "We are happy that, after 6
years of holding, we were able to realize a profit of $320,000 from
this transaction."
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
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