VAYK Renewed JV to Renovate Historic Landmark into "Most Sought-after Airbnb Place" in Downtown Atlanta

Rhea-AI Summary

Vaycaychella (VAYK) has renewed its joint venture agreement to renovate and operate the Rufus Rose House, the only standing Victorian mansion in downtown Atlanta. The property, valued at $2.1 million, is expected to reach $5-8 million after renovation. VAYK will receive 20% 'sweet equity' in the project, with potential for more based on capital raised.

The historic landmark will be converted into a multi-unit short-term rental property, strategically located near major attractions. With Atlanta hosting FIFA 2026 and the upcoming $157 million 'Stitch' project nearby, VAYK projects annual rental revenue of $500,000-$700,000, with potential for higher returns. The company aims to complete renovation before FIFA 2026, capitalizing on Atlanta's tourism growth, which saw 71.3 million visitors in 2023.

Positive

• Property value expected to increase from $2.1M to $5-8M post-renovation
• 20% equity stake with potential for increase based on capital raised
• Projected annual rental revenue of $500,000-$700,000
• Strategic location near $157M 'Stitch' project expected to stimulate $2-3B in local real estate investments
• Exclusive rights for renovation and operation

Negative

• Significant capital investment required for renovation (amount unspecified)
• Renovation completion timeline risk for FIFA 2026 deadline
• Revenue projections are speculative and unproven

ATLANTA, Dec. 12, 2024 /PRNewswire/ -- 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: +1 470-804-7144; Contact@Vaycaychella.com 

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SOURCE Vaycaychella, Inc.

FAQ

What is the expected value increase for VAYK's Rufus Rose House project?

The property's value is expected to increase from its current $2.1 million to $5-8 million after renovation completion.

What is VAYK's equity stake in the Rufus Rose House project?

VAYK holds 20% 'sweet equity' in the joint venture, with potential to increase based on capital raised.

What is the projected annual revenue for VAYK's Rufus Rose House Airbnb?

The projected annual revenue is $500,000-$700,000, with potential for higher returns due to local development projects.

When does VAYK plan to complete the Rufus Rose House renovation?

VAYK aims to complete the renovation and begin operations before the FIFA 2026 World Cup in Atlanta.

How will the $157M 'Stitch' project impact VAYK's Rufus Rose House investment?

The nearby 'Stitch' project is expected to stimulate $2-3 billion in local real estate investments, potentially increasing the property's value and rental demand.