Original article posted in ANR
A 5-star luxury resort in Vanuatu, to be managed by Wyndham hotels (a multi-billion dollar resort and hotel management company) will be one of the first in the world to accept cryptocurrency for bookings and the sale of its luxury villas.
Management says they will accept any of the top five cryptos and Bitxcoin- a new up and coming cryptocurrency.
Bitxcoin is a new cryptocurrency/company that is looking to innovate the Global Payment System. If Bitcoin was started all over again, it would most likely use the superior Ethereum blockchain platform. Some consider Bitxcoin to be like Bitcoin as a payment system, but Bitxcoin is expected to be better due to its more effective blockchain technology platform.
The project in Vanuatu is part of a $750 million resort project that includes three 5-star resorts, a Jurassic theme park, casino and a water park.
It will be targeting Chinese, Australian and New Zealand tourists. Industry experts believe it will reshape Vanuatu.
The project recently launched its villa sales with a special promotion giving a select few luxury villas away for $150,000 that are worth over $400,000 AUD. Therefore, some savvy property investors are reaping extraordinary profits by providing pre-seed funding for property projects.
Normally, this is the domain of very wealthy investors taking high risk, however, in a new way to help get projects off the ground, some developers will sell some stock at or below cost price to a select few in order to lock in capital to settle land and fund the DA.
Generally considered high risk, one such project developer that ANR interviewed said, “on some occasions developers will even offer first mortgage as security till the separate villa titles are ready, thus reducing the risk greatly in case the project doesn’t proceed”.
The income returns are projected to be up to $100,000 p.a., thanks to the high occupancy rates expected (Wyndham is achieving over 90% occupancy at its latest South Pacific Resort in Fiji).
For information about the resort visit http://www.vanuatublueoceanresort.com/due-diligence/
Other properties have turned to accepting cryptocurrencies as well, including this $5 million mansion available for 475 Bitcoins. https://www.realestate.com.au/property/68-the-promenade-surfers-paradise-qld-4217