GAUCHO GROUP HOLDINGS,
INC. UNVEILS EXPANDED MASTER PLAN FOR ALGODON WINE ESTATES' 4,138
ACRE LUXURY WINE & WELLNESS DEVELOPMENT IN MENDOZA,
ARGENTINA
Company Continues to Lay
Foundation For Partnership With Branded Luxury Name In Hospitality
To Co-Develop Hotel And Residences
New York, NY / December 16, 2021 --
InvestorsHub NewsWire -- Gaucho Group Holdings, Inc.
(NASDAQ:VINO), a
company that includes a growing collection of e-commerce platforms
with a concentration on fine wines, luxury real estate, and leather
goods and accessories (the "Company" or "Gaucho Holdings"), today
announced it has
taken a significant step in finalizing the master plan for
its Algodon
Wine Estates, a 4,138 acre wine, wellness, culinary and sport
resort and luxury residential development, in San Rafael, Mendoza,
Argentina.
The next
stage of the master plan was designed by the architectural planning
and design firm EDSA, whose work spans more than 5,000 projects in
over 100 countries including Miami's notable 1 Hotel & Homes
South Beach, as well as The Dubai Opera House, the Bahamas'
Atlantis Resort, and PepsiCo Headquarters in New York.
EDSA plans to position Algodon Wine
Estates to meet the current luxury market demand with the goal of
creating the most exciting ultra-luxury, residential resort
community in South America. These enhancements and new vision seek
to encourage worldwide interest in the project, particularly among
equally situated luxury brands. EDSA's vision for Algodon Wine
Estates includes further building upon the estate's award-winning
vineyard development by emphasizing the existing winery and 1946
vines, the local Mendocino culture, as well as the estate's
existing terrain, amenities, and features.
The master plan includes development
of an additional 200 lots, ranging in size from 2.47 acres to 12
acres. The Company anticipates sales of these additional lots could
ultimately generate more than $100 million in revenues. The
centerpiece of the master plan is an ultra-luxury 80-room hotel,
that will also include 40-60 residences, for which Algodon Wine
Estates seeks to co-develop with a world class luxury hospitality
brand. This exciting centerpiece is planned
for the estate's highest elevation, offering stunning views that go
for miles of the surrounding vineyard community and mountain
range.
The expanded master plan includes a
27-hole championship-style golf course made up of three 9-hole
courses featuring differing kinds of play; such as the 9-hole
course that plays though the vineyards as it exists today, another
9-hole course that plays through the desert (with the added benefit
of minimizing water consumption), and another 9-hole course that
plays through the estate's existing natural vegetation on the north
side of the property, which sees a higher elevation with
unparalleled views of the mountains.
The master plan also includes
expanding upon the existing championship-style tennis facilities
with the goal of attracting international tennis tournaments. A new
centralized village center and sports club, in and around the
current tennis center, is included in the planning. Nearby, an
equestrian facility that will include a riding and training center,
will be surrounded by equestrian estate lots, and all will be
interconnected to equestrian trails throughout the
estate.
Additional highlights from the plan
include an organic farming area, as well as organic fruit orchards,
a boutique distillery, organic/seasonal restaurants, lavender and
rose gardens, as well as various hiking, mountain biking, and
walking trails that connect the social and residential areas
throughout the estate.
Marco Larrea, PLA EDSA Principal
stated, "We are very excited to continue developing this expansive
project. I believe our team in conjunction with those in place at
Algodon Wine Estates and Gaucho Holdings are working effectively to
design and complete a truly unique and exciting ultra-luxury
destination."
Commenting
on the master plan, Scott Mathis, Chief Executive Officer of Gaucho
Holdings stated, "We are thrilled with the latest iteration of our
master plan. This type of development, in terms of its total size,
4,138 acres, and scope of services and offerings is truly unique in
the world today. In addition to all the amenities we intend on
building, we plan to set aside 30% of the estate for a protected
nature preserve and will also feature a sustainable energy plan
(solar). Ultimately, we envision hosting major tennis and golf
tournaments. Since experiencing the pandemic, we believe many
people around the globe have reconsidered their 'Quality of Life'
quotient, and are now actively pursuing opportunities and major
life changes that can bring them back to nature and natural foods,
as they seek ample space, clean fresh air, a healthy environment
and wonderful, serene surroundings.
At Algodon
Wine Estates, we've answered that need by creating an ultra-luxury
global community of wellness, culinary, wine and sports destination
for all to enjoy.
Owning or
building a vineyard estate lot at Algodon is also an opportunity
for our owners to establish heirloom assets to be passed down
through their families for generations to come."
About Gaucho Group
Holdings, Inc.
For more than ten years, Gaucho Group
Holdings, Inc.'s (gauchoholdings.com)
mission has been to source and develop opportunities in Argentina's
undervalued luxury real estate and consumer marketplace. Our
Company has positioned itself to take advantage of the continued
and fast growth of global e-commerce across multiple market
sectors, with the goal of becoming a leader in diversified luxury
goods and experiences in sought after lifestyle industries and
retail landscapes. With a concentration on fine wines
(algodonfinewines.com & algodonwines.com.ar),
hospitality (algodonhotels.com),
and luxury real estate (algodonwineestates.com)
associated with our proprietary Algodon brand, as well as the
leather goods, ready-to-wear and accessories of the fashion brand
Gaucho – Buenos Aires™ (gauchobuenosaires.com),
these are the luxury brands in which Argentina finds its
contemporary expression.
About
EDSA
EDSA, Inc. is a planning, landscape
architecture, and urban design firm founded in 1960. The company is
headquartered in Fort Lauderdale, Florida with offices in Orlando
as well as New York City, Baltimore, and Shanghai, China. EDSA's
commitment to excellence can be seen through their past works,
which spans more than 5,000 projects in over 100 countries
including Miami's notable 1 Hotel & Homes South Beach, as well
as The Dubai Opera House, the Bahamas' Atlantis Resort, and PepsiCo
Headquarters in New York.
Cautionary Note
Regarding Forward-Looking Statements
The information
discussed in this press release includes "forward looking
statements" within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934. All
statements, other than statements of historical facts, included
herein concerning, among other things, planned capital
expenditures, future cash flows and borrowings, pursuit of
potential acquisition opportunities, our financial position,
business strategy and other plans and objectives for future
operations, are forward looking statements. Although we believe
that the expectations reflected in these forward-looking statements
are reasonable, they do involve certain assumptions, risks and
uncertainties and are not (and should not be considered to be)
guarantees of future performance. Refer to our risk factors set
forth in our reports filed on Edgar. The Company disclaims any
obligation to update any forward-looking statement made
here.
Media
Relations:
Gaucho Group
Holdings, Inc.
Rick Stear
Director of Marketing
212.739.7669
rstear@gauchoholdings.com
Investor
Relations:
John McNamara
917.658.2602
john@tradigitalir.com