Platform will be use to improve hotel operation such like redundancy in payment issue, better understand in guest behaviors and preferences to improve customer experience. Providing loyalty program base of guest token holding and using habit. As for on the development, you can read our whitepaper for detail information.
STAY Villa and Hotel (“STAY”) is a property portfolio owned by Far East Power Limited (“FEP”). FEP is a real estate development company with core business in the development and management of mixed-use communities and commercial lifestyle real estate projects in Asia. STAY Villa and Hotel Limited (“SVHL”) is a subsidiary of FEP and will be the legal entity responsible for selling STAY tokens through this initial coin offering.
They are proposing a new innovative way of implementing blockchain and smart home technologies in its property portfolio and increasing of such portfolio through initial coin offering of our STAY tokens. Their tokens are standardized Ethereum based ERC20 tokens. Therefore they utilize Ethereum-security and can be easily integrated and connected with other Ethereum based technologies. The funds received through this ICO will be primarily used to develop blockchain integration, smart home technologies and the acquisition of hotel and luxury pool villa properties and related land in Bali, Indonesia and also the development of these properties and technologies to provide a differentiated and unique travel experience for our customers and potential STAY token holders.
This ICO is designed to benefit contributors in a number of ways. Firstly, our potential STAY token holders are entitled to free 1-night accommodation in our selected hotel properties and they are able to upgrade to higher room categories and villas with a nominal fee. The number of free night stays for each token will increase by one night annually until each token is qualified for a free consecutive 7-night stay. In light of this increasing demand in accommodation. SVHL also considers a possibility to buy STAY tokens at exchanges (if and once these tokens may be available at exchanges) and burns such tokens over time that may potentially lead to increase in token value.
SVHL is also leveraging the blockchain technology in its hotel operations to solve some of the key pain points in hotel industry. Blockchain is designed to cut out the middlemen and reduce the high cost of verification in a traditional centralized system. Through integrating its hotel operations with blockchain, SVHL can manage complex transactions in a simple way, verify customer information and protect data in a cost efficient way, and grant physical and digital access controls in our properties enabled by smart home technologies.
|“||Nov 2017 - Jan 2018: Whitepaper & Project concept approval. Acquired 1st property for STAY Token holder accommodation.
March 2018: Smart Contract development of the ERC-20-based token sale official website.
May 2018: FEP plans to begin its Pre ICO sle on the 1st of May 2018
June 2018 : FEP will start the 1st stage of ICO sale on June 2018, followed by the 2nd stage of ICO sale.
July 2018: First Property for Rental. FEP will have 1-2 villas ready, and complete the renovation work in Q2 2018, so upon the completion of ICO and tokens distribution, STAY Token holder can start to book the villa right away for their accommodation. It has already identified a property in Uluwatu, Bali. Such that STAY Token holder can redeem their tokens for accommodation immediately after ICO.
August 2018: Various development and renovation work will commence once the properties are purchased and aim to start immediately after all related government approval is obtained.
September 2018 - Onwards: FEP plans to add 2-3 villas to the portfolio every quarter until the initial phase of villa & hotel development as laid out in the project is completed. On a longer term basis, FEP will also uses its profits earned from operations to purchase more properties to add to the portfolio to cope with increasing demand.