Shares on an Upswing as "Vacay" Firm Closes in on Short-Term Rental Market

By: Tomas Ronolski - AllPennyStocks.com News

Thursday, August 1, 2024

Short-term vacation rentals are becoming more popular—and more lucrative. This company’s strategy is to become the comprehensive leader in this $64 billion U.S. market.

Vaycaychella, Inc. (OTC Pink: VAYK) announced a letter of intent (LOI) to acquire 50% non-managerial ownership of a home service company based in Atlanta, Georgia. The firm is pursuing its new strategy to focus on the domestic short-term rental market. The acquisition target reported over $1 million revenue for the year 2023, with a solid margin of operating profit.

The LOI will be a non-cash acquisition deal where the firm will issue approximately $250,000 of restricted shares to the business owner in exchange for 50 percent non-managerial ownership. These shares will be priced at $0.005 per share, which is more than 600 percent higher than the most recent closing price of VAYK's common shares.

According to Vaycaychella, the home service business and Airbnb operation are synergistic and will likely help each other grow. Earlier this month, the firm reached a non-cash deal with an Airbnb management company to acquire the management rights of an Airbnb property. Vaycaychella is expecting to start receiving cash revenue from the Airbnb property in August.

Shares were trading up in late morning trading.

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