Who is Crowdfunding a Hotel?

When we think of “crowdfunding” we usually associate it with throwing in a few bucks to support our friends’ short films or art projects. Lucky, then, that we’re not friends with Rodrigo Niño, CEO of New York real-estate company, Prodigy Network, because he’s looking to raise $31 million in equity for his company’s hotel project: $100,000 at a time.
Prodigy Network actually have a successful track record at this novel approach to hotel development: they previously raised $171 million in $20,000 increments for a mixed-use skyscraper development that is currently under way in Bogotá, Colombia.

hotel-mystery-shopping

The project aims to convert an apartment building at 17 John Street in Manhattan into an extended stay hotel, described on the company’s website as “an innovative micro-living glass tower, one block away from the World Trade Center.” The project is also hoping to take advantage of the Securities and Exchange Commission’s move to lift the ban on private companies advertising investments that aren’t registered with the agency. SEC rules are relevant because, unlike Kickstarter and Indiegogo etc… investors for the Prodigy Network project will receive financial return. The changes are beginning to take effect as of yesterday.

Speaking to the Wall Street Journal, Niño said that relaxing the restrictions will have a huge effect of both investors and developers:”

“We have learned that crowdfunding not only democratizes investments, it also makes projects viable that otherwise would not be possible”.
Meanwhile Prodigy Network are going to be kept busy after raising $16 million for a 108-room limited-service hotel in Bogotá and another $12 million for an office building near the city’s airport. Oh, and they would also like to crowdfund a city. Hotel Chatter Contributing Editor
KarenLouise
IMG_2873_120

dernières nouvelles

Ludovia Magazine - Education & NumériqueCrowdfunding Ecolia Labs, Le premier Tech Hub Social Au [...]

La ViePas de crowdfunding pour les martyrs chrétiens d'AlgérieLa VieL'Église d'Algéri [...]

L'ExpressCrowdfunding, crowdlending : comment ça fonctionne, quels sont ...L'ExpressCrowdf [...]

Business ImmoLes Halles de Toulon transformées en hôtel concept grâce au ...Business ImmoSet On Inve [...]

JDNFacebook s'attaque au crowdfunding ? Les fintech restent de marbreJDNLe réseau social a réce [...]

L'indépendant.frPerpignan: "Rêves de gosse" lance une campagne de crowdfunding ...L [...]

ladepeche.frUn film financé par crowdfundingladepeche.frLe projet a mûri pendant 20 ans avant que Fr [...]

Déclaration des revenus du crowdfunding : mode d'emploi, Fusacq ...FUSACQ (Communiqué de presse [...]

Un crowdfunding pour « Raisin », l'appli des vins naturelsVitisphere.comRaisin, l'applicat [...]

Frenchweb.frFinancée en crowdfunding, la Fintech Plastc emporte 9 millions de ...Frenchweb.frEn 2014 [...]

Live Crowdfunding .tv

Crowdfunding Le coeur de Jeanne ....MORE VIDEOS