US: Vaycaychella, the sharing economy venture from World Series of Golf [WSGF], has announced the acquisition of a six-room boutique hotel in Cuba.
The hotel will operate in a former mansion located in the Havana residential community of Miramar. It includes a restaurant and a night club.
Vaycaychella is financing the refurbishment of the building, which is anticipated to open by the summer of 2021.
Vaycaychella was founded in 2017 by a group of Cuban entrepreneurs seeking to acquire and restore art deco-style homes outside of Havana. At the moment, five of the properties are currently listed on Airbnb, and another five undergoing restorations.
The company distributes its various properties across sharing economy sites like Vrbo, Airbnb, and Booking.com.
WSGF acquired Vaycaychella in January of this year, the first investment from the company following its corporate overhaul. It previously focused on properties in the mobile, sports and entertainment spheres, but is now aiming to change its name in order to match its current focus.
Since January, it has been adding a number of different properties across its Caribbean market. Major acquisitions include rental properties in Mexico, Puerto Rico and Cuba.
Vaycaychella is also set to announce its P2P announcement app, designed to connect potential investors with property owners in their pre-requisite markets. It has timed the launch alongside the Airbnb IPO, projected to be worth $30 billion, in order to work better with the marketplace.
The company announced last week that it was migrating users out of development and into the testing phase of the business. It plans to follow rounds of internal testing with multiple rounds of beta testing before the end of the month, with the goal to launch the app before the end of the year.
Vaycaychella stated: “In short, the advent of sharing economy technology like Airbnb, Uber and we like to think, Vaycaychella apps, empowers everyday individuals around the world to combine their personal resources [homes, cars, savings and talent for example] under a single organised business, that can compete with if not dominate any traditional Fortune 500 competitor.”