New program provides additional revenue stream for the Company while enabling homeowners to monetize their investment
SAN DIEGO, CALIFORNIA, Nov. 14, 2022 (GLOBE NEWSWIRE) -- International Land Alliance, Inc. (OTCQB:ILAL), (“ILAL” or the “Company”), an international land investment and development firm, today announced the launch of a new short-term vacation rental program for homeowners at its Rancho Costa Verde (“RCV”) development. RCV has existing short-term rental demand driven by its onsite vacation-related amenities and local attractions and events, as well as demand from new homeowners with homes currently under construction in the development. To date, RCV has sold over 1,000 residential lots and built 55 single family homes with 32 under construction. This is in addition to a completed boutique hotel and clubhouse.
“We are currently furnishing and outfitting the first short-term vacation rental home,” said ILAL President Frank Ingrande. “Once we are fully operational with the first home, we will roll the program out to all of our homeowners, providing ILAL with an additional revenue stream that capitalizes on proven demand and enabling our homeowners to monetize their purchases.”
The first home to be converted into a full-time short-term rental is a one bedroom, two bath home that sleeps four guests.
“Combined with the recent launch of our new mortgage division, this timely addition to our business model could accelerate near-term performance, as we provide new options for homeowners during the construction of their homes,” added Ingrande.
The program will use the established reservation system currently utilized by the onsite boutique hotel, with reservations opening in January 2023. Reservations will also synchronize across online short-term rental services, including Airbnb, VRBO, and others.
Ingrande continued, “Activity at RCV continues to grow. This past weekend the hotel was fully booked with visitors to the annual Shrimp Festival and new buyers touring RCV generated an additional 11 lot sales.”
RCV is a profitable 1,100-acre, 1,400-lot master planned community in Baja California, located roughly eight kilometers north of the Company’s Oasis Park Resort on the Sea of Cortez. For more information about this green off-grid community, we invite you to visit: www.ranchocostaverde.com
For more information about the Company, please visit RedChip’s ILAL page at https://ilalinfo.com/.
About International Land Alliance, Inc.:
International Land Alliance, Inc. (OTCQB: ILAL) is an international land investment and development firm based in San Diego, California. As its’ core mission, the Company has embraced technology for sustainable and socially responsible solutions, in addition to using proptech and construction tech advanced applications to meet these goals. The Company is focused on acquiring attractive raw land primarily in Northern Baja California, often within driving distance from Southern California. The Company serves its shareholders by devoting considerable time and resources to seeking out the finest sites available and obtaining the necessary development permits to build a compelling portfolio of properties, which provide a diversity of investment and living options. Please visit: www.ila.company.
Safe Harbor Statement
The press release may include certain statements that are not descriptions of historical facts but are forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section21E of the Securities Exchange Act of 1934. These forward-looking statements may include the description of our plans and objectives for future operations, assumptions underlying such plans and objectives, and other forward-looking terminology such as "may," "expects," "believes," "anticipates," "intends," "projects,” or similar terms, variations of such terms or the negative of such terms. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements made herein. Such information is based upon various assumptions made by, and expectations of, our management that were reasonable when made but may prove to be incorrect. All of such assumptions are inherently subject to significant economic and competitive uncertainties and contingencies beyond our control and upon assumptions with respect to the future business decisions which are subject to change. Accordingly, there can be no assurance that actual results will meet expectation and actual results may vary (perhaps materially) from certain of the results anticipated herein.
CONTACT:
Dave Gentry
RedChip Companies Inc.
1-800-RED-CHIP (733-2447)
Or 407-491-4498
ILAL@redchip.com
