The collaboration enhances transaction security and transferability while diversifying access to investment opportunities for US-based and international investors
MIAMI, FLORIDA -- The international hotel chain, Novotel, with more than 530 branches in more than 60 countries and belonging to the global Accor group (with a presence in more than 110 nations) has reached an agreement with technology company DelNorte to tokenize its newest European hotel and residential project in the Republic of Georgia.
The brand — one of the most prestigious and influential in the global hotel and real estate industry — seeks to implement a technological program that will allow it to innovate in the sector, expand its operations and boost the fragmentation model of real estate investments through Blockchain technology.
The alliance between Novotel and DelNorte will accelerate the era of fragmented real estate investments.
The alliance between Novotel and DelNorte will start with the tokenization of the new Novotel Living project, a luxury apartment complex located in the most exclusive area of the coastal city of Batumi, near the botanical garden that features floral species from around the world and surrounded by the Caucasus Mountains and the warmth of the Black Sea.
According to the hotel company, Novotel Living “will operate according to the world-renowned Strata Title system in which each apartment belongs to the owner, and in which the entire infrastructure is managed by the hotel operator,” in this case Novotel.
The project promoted by Mardi Holdings has two towers of 13 floors each (12 apartments and one penthouse), a privately equipped beach, a children’s area with babysitting service, a relaxation area with a heated infinity pool and incredible views of the sea and mountains.
Virtual Tour of Novotel's new lifestyle project in the Republic of Georgia
In addition, “the owners will not bear the cost of maintaining the building’s infrastructure or the responsibility of attracting guests, but will only receive income from the rental of their apartments”.
This real estate model that allows fragmenting investments is compatible with DelNorte’s blockchain technology, whose tokenization system allows fragmenting properties through unique and unalterable smart contracts that guarantee proof of ownership and the security of the process. In turn, tokenization enables fractional ownership in which the value of shares and ownership of assets can be divided, which helps to sell the entire property or transfer part of it.
DelNorte’s smart certificates can be fragmented without prejudice to the property’s real value. Once fragmented, they grant each owner a digital copy and a unique key, ensuring that each owner receives their dividends automatically.
Both Novotel’s real estate model and DelNorte’s smart certificates are designed for investors looking to diversify their interests in the most promising sector in the real estate industry of the present and future: tokenization.
For now, both companies are preparing to start the process in the coming months.
For more information about Delnorte or to learn more about tokenization of global real estate visit www.delnorte.io.
To request an interview with Delnorte CEO or Novotel partners contact Melissa Rein Lively, TBCPR.
About Delnorte
Founded by Anton Glotser, Terravita Delnorte revolutionary fractionalized real estate investment protocol designed to enhance transaction security, transferability and fractionalization of real world assets. The Terravita Delnorte investment model allows all income classes to buy real-estate tokens at a fraction of the price, become members of a governing DAO established after the property tokens sell out, and generate income from an asset that would otherwise be significantly harder to acquire alone.
