All of us dream from time to time of getting away from the ceaseless buzz of the big city and spending a quiet weekend at some retreat hideaway where it would be possible to switch off the worrying part of the mind and just bask in the beauty of nature.
The industrious entrepreneurs, like Michael Gossl, the CEO at Timeless Luxury Group AG, knows how to capitalize on such desires, given that the market demand for commercial holiday houses and villas has been growing at the exponential rate over the last decade. In Austria alone, which is the principal place of business for Timeless Luxury Group, the tourism and vacation industry contribute 8.8% to the country’s GDP which translates into 40+billion euros. This company, however, focuses on the development of the luxury segment, hence the name, with a long-standing goal of building the chain of fashionable resorts near Kitzbuhel and other well-known locations in Austria.
The company has also elaborated its tokenomics based on the use of ERC-20 token - TMLS - which affords an opportunity for investors to be closely involved in the further development of Timeless Luxury Group and receive substantial dividends from future profits.
The company’s framework is comprised of four departments which complement each other in creating the enterprise for luxury vacation retreats.
The Timeless Hideaways is a centerpiece of the entire project which stipulated the erection of numerous items of rental luxury real estate, mostly chalets and villas, around the world. The company already operates two such properties: a chalet called Timeless Hideaway Wilder Kaiser and a villa - Zell am See.
The Timeless Resorts is an ambitious project which involves the construction of a luxury resort at Wilder Kaiser, a beautiful mountain range in Austria and home for many renowned ski resorts. The company claims that it had already secured the contract for 38 thousand square feet of land in a prestigious location with the plans to build 97 accommodation units.
The Timeless Yachts is by far the smallest department since it is comprised of only one yacht named the Ocean Club, stationed near Mallorca and available for charter. The successful STO may provide for further expansion of the yacht fleet.
The Timeless Selection is a portfolio of different elite spirits, beverages, and tobacco products produced and branded specifically for this company. They are available for renters of Timeless retreat properties and distributed in limited quantities through the online shop.
Timeless Luxury Group issues TMLS, a security token that grants its holders numerous financial benefits. To be more precise, the holders of TMLS will receive 40% of company’s revenue prior to taxation, 10% of earnings from yachts and beverages, 10% of share from selling company’s licenses. In addition, all holders of at least 1000 tokens will be subject to a 20% discount on bookings at the Timeless Hideaway and Resorts.
The security token offering is currently underway and it is due to end on April 2, 2020. The company allocated 1 billion tokens for sale with one TMLS priced at $1. The minimum purchase is established at 1000 tokens. It should be noted that as of now, the investment can be made only thorough fiat currencies. No other restrictions apply with regard to this STO.
|Start||April 3, 2019|
|End||April 2, 2020|
|199 days left|
I couldn't find any reliable information about people behind Timeless Luxury Group. The whitepaper doesn't even have that specific section whilst it is of immense importance for every crypto project that organizes an ICO. Or do they expect us all to know who Michael Gossl is, what's his professional experience and so on? Excuse me, but the pictures of fancy homes and yachts won't suffice in convincing me that this startup is worth even one Satoshi of my investment portfolio.
I know this place, Wilder Kaiser, where Timeless Luxury Group plans to build its resort. I have been there a few times on holiday with my family. A beautiful spot on our planet, indeed. I also know that the price of land there is high beyond belief. Therefore, I am not sure how this project is going to cover the cost of construction of the entire resort. Moreover, there are only four or five months suitable for construction works in this area, so I can only imagine how long it would take to finish that piece of real estate. I think that this idea is associated with huge risks.
I am not sure who would invest in the project like Timeless Luxury Group, or any other startup that deals with high-end tourism, when there are so many other opportunities for getting an incomparably greater return on the investment in a much shorter time span. Besides, as far as I know, this particular segment of the business is stalling at the global scale, which comes as another reason for me to refrain from investing in this project. In think, the only people who would benefit from purchasing the offered tokens are the customers of that company, but from an investment standpoint, Timeless Luxury Group is a dead end.
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