We’ve never covered Global Boatworks Holdings Inc (OTCMKTS:GBBT) here on Street Register before, so before we get into the recent press put out by the company, we’ll provide a brief overview of its core business as described by the company itself.
GBBT is a multifaceted boat-building and vacation-charter company that operates out of Pompano Beach, Florida. The Company has previously built a highly successful charter houseboat in Boston, and currently has designed a state-of-the-art luxury floating home that will launch in the South Florida market. Global Boatworks also constructs custom vessels for its customers.
Global Boatworks Holdings Inc (OTCMKTS:GBBT) has successfully moved Luxuria from the Lauderdale Marine Center to the prestigious Bahia Mar Resort and Yachting Center in Ft. Lauderdale, FL. The Bahia Mar Resort and Yachting Center is an upscale facility and is the ultimate Hotel and Marina destination in the heart of Fort Lauderdale, Florida. The property features a Hilton Hotel complete with restaurants, shops, swimming pool, tennis and is directly across the street from a pristine sand beach along the shore of the Atlantic Ocean.
The Luxuria is a state-of-the-art luxury living vessel, the “Luxuria” in South Florida. The “Luxuria” features floor-to-ceiling impact windows with motorized shades, large living room with contemporary LED fireplace, a modern kitchen featuring, Caesarstone counters, Bosch appliances and a modern contemporary wine refrigerator. Spacious extravagant open stairway leading to the luxurious master suite and guest bedroom, featuring spa-like bathrooms with soaking tub and TV and ultramodern showers with waterfall and rain head/body spray dispensers. There are three big-screen TVs, computer/working area, two large outdoor living decks as well as many other luxury amenities.
Global Boatworks was pleased at the turnout at its initial open house and the booking of its first guests onboard Luxuria. It is expecting additional short-term charters and are scheduling more open houses as well as attendance at boat and yacht shows in the south Florida area through the end of the year. Luxuria can be chartered in the short term and will be available for sale. At the previous location at Lauderdale Marine Center, access to the vessel was restricted and available only through Global Boatworks personnel as an escort while at the facility.
Global Boatworks has engaged a yacht broker and a luxury real estate broker to sell the Luxuria. Sale of the Luxuria would give the Company the necessary capital to move forward on several business fronts. Additionally, Global Boatworks is presently engaged with a design firm to build two smaller luxury living vessels. These smaller vessels will be less expensive, and more mobile. Because these vessels are smaller, they can be moored at a standard dock and not require marina facilities.
Bob Rowe, CEO of Global Boatworks stated, “Everything onboard Luxuria is now complete. We just hosted our first guests. While the income from charters can be substantial annually and can fluctuate seasonally, we are really looking to sell the Luxuria because we have several other business opportunities we can take advantage of. We have funding in place for a second vessel and have done all the preliminary work to start construction but we need the additional funds to start construction on a third and fourth vessel. South Florida is going to be a great place for luxury vessels in the coming months and years.” (Source: Marketwired)
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Disclosure: No one at Street Register has been compensated in any way for the publishing of this article, nor do we hold any position in GBBT stock, short or long.