Pace Developments St. Vincent is a luxury hotel and casino with valuation of US $48,000,000 from Colliers.
MIAMI, July 11 (Korea Bizwire) – Star8 Corp. (OTCPK: STRH), is pleased to announce that it has signed a Letter of Intent (the “LOI”) to acquire a group of St. Vincent operating under the name Pace Developments St. Vincent Inc. through a plan of exchange with an expected closing in the current quarter.
Pace Developments St. Vincent Inc. owns 45 acres of land at Peter’s Hope, St. Vincent and the Grenadines. Construction has already begun on the luxury Black Sands Hotel, which will eventually house 450 rooms, on the 45 acres of land at this site. Located below the hurricane belt, and with a newly constructed international airport in St. Vincent, the destination is growing in popularity within the luxury tourism market.
“Our Board of Directors is impressed with the vision and strategy behind this development,” said Mario Diez, Chief Executive Officer of Star8 Corp. “We see an opportunity to invest in a growing market with an inspired project, that will ultimately stimulate the local economy.”
Phase one of the project is expected to open within 12 to 14 months, and an additional 200 rooms for phase two will be completed within 24 to 36 months.
“This property will feature a 5-star luxury hotel, with condos, a casino, a medical spa and its own private marina,” said Joseph Romano, Chief Executive Officer of Pace Developments St. Vincent Inc. “The finished product is going to be a resort that truly embodies all elements of relaxation and luxury living.”
To learn more about the Black Sands Hotel, please see the following YouTube videos: Black Sands Hotel | Resort Property | PaceDevelopments For more information about Star8 Corp.’s portfolio of subsidiary companies, please visit Star8Corp.com.
About Star8 Corporation
Star8 Corporation (OTCPK: STRH) is a publicly traded company with expertise in technology and eCommerce driven solutions. Additionally, Star8 Corp. provides sustainable marketing, technology, sales and distribution consulting for clients. To learn more about Star8 Corp. please visit Star8Corp.com.
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Source: Star8 Corporation via GLOBE NEWSWIRE
