ATLANTA, Ga, June 27, 2024 /PRNewswire/ — 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:
[email protected]
+1 972-658-5365
SOURCE Vaycaychella, Inc.
Originally published at https://www.prnewswire.com/news-releases/vayk-exited-caribbean-investments-for-320-000-profit-302184507.html
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