UCASU
Launches
SHOC
Holdings to Pursue $60
Billion Airbnb
Opportunity
Atlanta,
GA -- November 10, 2020 -- InvestorsHub NewsWire
-- UC
Asset LP (OTCQX:
UCASU) announces
today
it has
completed
the registration of a new subsidiary, SHOC Holdings LLC, to devote
to its Airbnb-based
innovative
property investment strategy.
The
new investment strategy,
named SHOC (pronounced "shock" is an acronym for
Shared Home-
Office
Cluster), aims to acquire a cluster of distressed residential
properties in communities nearby major
airports,
renovating them
into cost-efficient home offices, and marketing
them
as shared accommodations
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. We
predict conventional
hotels
will
lose these customers to virtual
accommodations
that
can provide a
home
office environment."
"Transition
from conventional office space to home offices is an inevitable
trend. According to a report in 2019 by Kate Lister, who is a
workplace expert, 56% of
the U.S. workforce holds a job that is compatible (at least
partially) with remote work.
COVID-19
pandemic has accelerated this
transition.
NATIONAL
BUREAU OF ECONOMIC RESEARCH report stated
in June
2020 that
about
40% of both large and small firms expect that 40% or more of their
workers who switched to remote work during the crisis will stay
doing remote work after the crisis. In
other words, at
least 16% of American workers will switch to working at home at
least 2 days/week permanently."
Bankston explains.
"The
shift from conventional
office space to home offices will
definitely change people's preference for lodging while
traveling. More
and more business traveler customers, who contribute $60 billion
annual to hotel revenues, will choose home-office style shared
accommodations over conventional hotels."
Projects Bankston.
The
new subsidiary, SHOC Holdings LLC, is wholly owned by UC Asset. It
will serve as a separate entity to acquire properties in
underdeveloped communities in metro Atlanta,
and
renovate
or rebuild them into home-offices.
According to UC Asset, its investments
in
underdeveloped
communities in
metro Atlanta have yield extraordinary
returns in
the past, as high as 48% annualized. And the application of the new
SHOC business model will probably increase its average return on
investment.
##
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.
For More
Information Contact:
Christal Jordan |
Investor Relations Director, UC Asset LP
cjordan@ucasset.com |
678-499-0297