VAYK Exited Caribbean Investments for $320,000 Profit

Rhea-AI Summary

Vaycaychella (OTC Pink: VAYK) announced its exit from all Caribbean rental property investments, achieving a net sales profit of approximately $320,000. The properties, acquired in 2020 for $1.5 million, were sold as the company shifted focus to the domestic rental market in the USA, which reached a total gross revenue of $64 billion. This strategic pivot is aimed at capitalizing on the lucrative domestic short-term rental market, particularly in major metropolitan areas such as Atlanta. Interim CEO Stephanie Anderl expressed satisfaction with the $320,000 profit realized from the Caribbean investments after six years.

Positive

• Realized a net sales profit of approximately $320,000 from Caribbean investments.
• Strategic focus shift to the lucrative $64 billion domestic short-term rental market in the USA.

Negative

• Initial investment of $1.5 million in Caribbean properties resulted in a relatively modest profit of $320,000.

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:

Contact@Vaycaychella.com
+1 972-658-5365

View original content:https://www.prnewswire.com/news-releases/vayk-exited-caribbean-investments-for-320-000-profit-302184507.html

SOURCE Vaycaychella, Inc.

FAQ

What profit did VAYK realize from exiting Caribbean investments?

VAYK realized a net sales profit of approximately $320,000 from its Caribbean investments.

When did VAYK acquire its Caribbean rental properties?

VAYK acquired its Caribbean rental properties in 2020 for a consideration of $1.5 million.

Why did VAYK decide to exit its Caribbean investments?

VAYK exited its Caribbean investments to refocus on the domestic rental market in the USA, which is more lucrative and reached a total gross revenue of $64 billion.

What market is VAYK focusing on after exiting the Caribbean?

VAYK is now focusing on the domestic short-term rental market in the USA, particularly in mega-metropolitan areas like Atlanta.

What is the significance of the $64 billion market mentioned in VAYK's press release?

The $64 billion market refers to the total gross revenue of the domestic short-term rental market in the USA, which VAYK aims to capitalize on after exiting its Caribbean investments.