Travaleo, LLC, a branded real estate investment and development platform wholly owned by Genesis Holdings, Inc. (OTC: GNIS), announced today that it has executed a Memorandum of Understanding (MOU) with the owners and developer of the Hotel Tulasi Mandir project, a 28-villa luxury boutique hotel on Isla de Coche, Estado Nueva Esparta, Venezuela. The MOU establishes a framework for the parties to collaborate on transforming the property into a world-class, branded luxury boutique destination in the Caribbean.
The contemplated cooperation may include strategic development planning, capital advisory support, and the introduction of an internationally recognized hospitality brand, subject to definitive agreements. Travaleo anticipates that this project will mark its flagship debut in Venezuela and establish Travaleo as a premier entry gateway for international and U.S.-based investors looking to access institutional-grade, branded luxury real estate in the country.
Under the terms of the MOU, the parties will work in good faith during a 90-day exploratory period to assess development plans, branding strategy, and financing alternatives. The MOU is non-binding with respect to any definitive transaction, except for customary confidentiality and related provisions.
"This project represents a compelling opportunity to elevate an already exceptional location into a truly globally competitive luxury destination," said a representative of the Seller. "We are pleased to formalize our collaboration with Travaleo and look forward to exploring how their experience in branded hospitality and capital markets can help realize the full potential of this unique Caribbean asset."
Oscar Brito, CEO of Travaleo and Genesis Holdings, added: "This project represents Travaleo’s flagship debut in Venezuela and we intend for Travaleo to become a clear entry gateway for international and U.S.-based investors seeking institutional-grade exposure to Venezuelan branded luxury real estate. Venezuela has extraordinary natural assets, and we believe this development can set a new standard for thoughtfully new construction, premium boutique hospitality in the Caribbean. Beyond Isla de Coche, we are actively evaluating additional ‘crown-jewel’ locations and iconic properties - including select Caracas-based opportunities - that could ultimately be hosted on the Travaleo platform as we build out a curated portfolio across the country."
The parties anticipate providing further updates as discussions progress and definitive agreements are negotiated. For more information about Travaleo, visit https://www.travaleo.com. For more about Genesis Holdings, visit https://www.regen.digital.
