UCASU - Airbnb-based Innovative Strategy Kicked off by UCASU to Target $60 Billion Market
October 01 2020 - 2:19PM
InvestorsHub NewsWire
October 1, 2020 -- InvestorsHub NewsWire -- UC Asset LP
(OTCQX:
UCASU) kicked off an innovative property investment strategy
during the firm’s annual shareholder meeting on Wednesday,
September 30, 2020. This new investment strategy targets the $60
billion business trip accommodation market.
Atlanta Skyline
The new investment strategy, named SHOC (pronounced as "shock"
and standing for Shared Home Office Cluster), aims to acquire a
cluster of distressed residential properties in communities nearby
airports, renovate them into cost-efficient home offices, and
market them as shared accommodation on platforms such as Airbnb, to
serve business travelers who prefer renting a shared home-office
than staying at a conventional hotel.
"The US hotel market was close to $200 billion before COVID-19
pandemic, and about thirty percent of that, or, $60 billion,
focuses on business travelers," explains Greg Bankston, managing
general partner of UC Asset. "But as more businesspeople shift
their daily operation from conventional office spaces to home
offices, we believe they will prefer the familiarity of a
home-office environment on the road as well. Conventional hotels
will lose these customers to share accommodations that can provide
a home office environment."
"The COVID-19 pandemic has accelerated the transition from
conventional office space to home offices, and should accelerate
the transition from conventional hotel to shared home-office
accommodation," Bankston projects. "UC Asset is a real estate
investor and redeveloper. We excel in residential property
renovation and have mastered the art of turning distressed
residential properties into comfortable, safe and cost-efficient
accommodations. With proper management, we are confident that our
new product, SHOC (Shared Home Office Cluster), will attract a new
generation of business travelers on shared accommodation platforms
such as Airbnb."
"Our business is based in Atlanta, Georgia, and Atlanta is
arguable the best place to start our new strategy," says Larry Wu,
founder of UC Asset. "The city of Atlanta has launched multiple
mega initiatives to address its issue of inequality, which is the
worst among major US cities. And a critical mission of Atlanta city
is to increase business activities in distressed communities."
"Most of Atlanta’s distressed communities surround
Hartfield-Jackson Atlanta International Airport. The bright point
is, it is the busiest airport in the world, served 110 million
passengers in the year of 2019. If we acquire properties and build
our SHOC (Shared Home Office Clusters) in those distressed
communities surrounding the Atlanta Airport, it is not only great
for our business, but will also bring income to local communities
to help reduce inequality," Wu shares.
UC Asset has done projects in those communities before, and they
are among the most successful investments of the company. According
to the company, one project closed last year yielded a 48%
annualized return over a period of 11 months. "With the new SHOC
strategy, we probably can close more projects like this," says
Bankston.
Seperately, UC Asset recently announced entering into a letter of
intent agreement to sell a 72 acer
property in Farmersville, Texas to Puraiton, Inc. (USOTC:
PURA).
About UC Asset LP
UC Asset LP is a limited partnership formed for the purpose of
investing in real estate for development and redevelopment,
concentrating in metropolitan areas of Atlanta, GA and Dallas, TX.
For more information about UC Asset, please visit: www.ucasset.com
Disclaimer:
This News Release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements involve known and unknown risks,
uncertainties and other important factors that could cause our
actual results, performance or achievements, or industry results,
to differ materially from any these statements. You are cautioned
not to place undue reliance on any those forward-looking
statements. Except as otherwise required by the federal securities
laws, we undertake no obligation to publicly update or revise any
forward-looking statements after the date of this news release.
None of such forward-looking statements should be regarded as a
representation by us or any other person that the objectives and
plans set forth in this News Release will be achieved or be
executed.
View source version on businesswire.com: https://www.businesswire.com/news/home/20201001005934/en/
Contacts
For More Information Contact:
Christal Jordan | Investor Relations Director, UC Asset LP
cjordan@ucasset.com | 678-499-0297
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