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Company Continues to Lay Foundation For Partnership With Branded Luxury Name In Hospitality To Co-Develop Hotel And Residences
Source: Gaucho Group Holdings, Inc.
New York, NY / December 16, 2021 / Gaucho Group Holdings, Inc. (NASDAQ:VINO), a company that includes a growing collection of e-commerce platforms with a concentration on fine wines, luxury real estate, and leather goods and accessories (the “Company” or “Gaucho Holdings”), today announced it has taken a significant step in finalizing the master plan for its Algodon Wine Estates, a 4,138 acre wine, wellness, culinary and sport resort and luxury residential development, in San Rafael, Mendoza, Argentina.
The next stage of the master plan was designed by the architectural planning and design firm EDSA, whose work spans more than 5,000 projects in over 100 countries including Miami’s notable 1 Hotel & Homes South Beach, as well as The Dubai Opera House, the Bahamas’ Atlantis Resort, and PepsiCo Headquarters in New York.
EDSA plans to position Algodon Wine Estates to meet the current luxury market demand with the goal of creating the most exciting ultra-luxury, residential resort community in South America. These enhancements and new vision seek to encourage worldwide interest in the project, particularly among equally situated luxury brands. EDSA’s vision for Algodon Wine Estates includes further building upon the estate’s award-winning vineyard development by emphasizing the existing winery and 1946 vines, the local Mendocino culture, as well as the estate’s existing terrain, amenities, and features.
The master plan includes development of an additional 200 lots, ranging in size from 2.47 acres to 12 acres. The Company anticipates sales of these additional lots could ultimately generate more than $100 million in revenues. The centerpiece of the master plan is an ultra-luxury 80-room hotel, that will also include 40-60 residences, for which Algodon Wine Estates seeks to co-develop with a world class luxury hospitality brand. This exciting centerpiece is planned for the estate’s highest elevation, offering stunning views that go for miles of the surrounding vineyard community and mountain range.
The expanded master plan includes a 27-hole championship-style golf course made up of three 9-hole courses featuring differing kinds of play; such as the 9-hole course that plays though the vineyards as it exists today, another 9-hole course that plays through the desert (with the added benefit of minimizing water consumption), and another 9-hole course that plays through the estate’s existing natural vegetation on the north side of the property, which sees a higher elevation with unparalleled views of the mountains.
The master plan also includes expanding upon the existing championship-style tennis facilities with the goal of attracting international tennis tournaments. A new centralized village center and sports club, in and around the current tennis center, is included in the planning. Nearby, an equestrian facility that will include a riding and training center, will be surrounded by equestrian estate lots, and all will be interconnected to equestrian trails throughout the estate.
Additional highlights from the plan include an organic farming area, as well as organic fruit orchards, a boutique distillery, organic/seasonal restaurants, lavender and rose gardens, as well as various hiking, mountain biking, and walking trails that connect the social and residential areas throughout the estate.
Marco Larrea, PLA EDSA Principal stated, “We are very excited to continue developing this expansive project. I believe our team in conjunction with those in place at Algodon Wine Estates and Gaucho Holdings are working effectively to design and complete a truly unique and exciting ultra-luxury destination.”
Commenting on the master plan, Scott Mathis, Chief Executive Officer of Gaucho Holdings stated, “We are thrilled with the latest iteration of our master plan. This type of development, in terms of its total size, 4,138 acres, and scope of services and offerings is truly unique in the world today. In addition to all the amenities we intend on building, we plan to set aside 30% of the estate for a protected nature preserve and will also feature a sustainable energy plan (solar). Ultimately, we envision hosting major tennis and golf tournaments. Since experiencing the pandemic, we believe many people around the globe have reconsidered their ‘Quality of Life’ quotient, and are now actively pursuing opportunities and major life changes that can bring them back to nature and natural foods, as they seek ample space, clean fresh air, a healthy environment and wonderful, serene surroundings. At Algodon Wine Estates, we’ve answered that need by creating an ultra-luxury global community of wellness, culinary, wine and sports destination for all to enjoy. Owning or building a vineyard estate lot at Algodon is also an opportunity for our owners to establish heirloom assets to be passed down through their families for generations to come.”
About Gaucho Group Holdings, Inc.
For more than ten years, Gaucho Group Holdings, Inc.’s (gauchoholdings.com) mission has been to source and develop opportunities in Argentina’s undervalued luxury real estate and consumer marketplace. Our Company has positioned itself to take advantage of the continued and fast growth of global e-commerce across multiple market sectors, with the goal of becoming a leader in diversified luxury goods and experiences in sought after lifestyle industries and retail landscapes. With a concentration on fine wines (algodonfinewines.com & algodonwines.com.ar), hospitality (algodonhotels.com), and luxury real estate (algodonwineestates.com) associated with our proprietary Algodon brand, as well as the leather goods, ready-to-wear and accessories of the fashion brand Gaucho – Buenos Aires™ (gauchobuenosaires.com), these are the luxury brands in which Argentina finds its contemporary expression.
EDSA, Inc. is a planning, landscape architecture, and urban design firm founded in 1960. The company is headquartered in Fort Lauderdale, Florida with offices in Orlando as well as New York City, Baltimore, and Shanghai, China. EDSA’s commitment to excellence can be seen through their past works, which spans more than 5,000 projects in over 100 countries including Miami’s notable 1 Hotel & Homes South Beach, as well as The Dubai Opera House, the Bahamas’ Atlantis Resort, and PepsiCo Headquarters in New York.
Cautionary Note Regarding Forward-Looking Statements
The information discussed in this press release includes “forward looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included herein concerning, among other things, planned capital expenditures, future cash flows and borrowings, pursuit of potential acquisition opportunities, our financial position, business strategy and other plans and objectives for future operations, are forward looking statements. Although we believe that the expectations reflected in these forward-looking statements are reasonable, they do involve certain assumptions, risks and uncertainties and are not (and should not be considered to be) guarantees of future performance. Refer to our risk factors set forth in our reports filed on Edgar. The Company disclaims any obligation to update any forward-looking statement made here.
Gaucho Group Holdings, Inc.
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