Grow Condos Inc (OTCMKTS:GRWC) a fully reporting publicly traded firm specialized in cannabis industry linked “Condo” style real estate and advanced grow facilities, reported that it has incorporated a new segment advanced to capitalize on Oregon’s rising level of recreational acceptance via the acceptance of turn-key real-estate offerings for Marijuana-friendly resorts and campgrounds.
Grow Condos plan is to establish and brand “Smoke on the Water” as a separate firm which could probably be spun out as a stand-alone entity. Plans call for the firm to initially develop the asset through acquisition, then rebranding the current RV business to showcase the brand “Smoke on the Water.” The firm is currently actively seeking for RV parks for sale to commence the operational release of the brand.
Also planned for launch is “SmokeOnTheWater.Club,” where explorers can join a movement based environment planned to inform and reward like-minded customers through a gratifying loyalty plan. As per a report available on the DenverPost.com, for the fifth successive year, Colorado accommodated a record number of travelers who have left a record sum of cash in their wake. Its tourism office updated that 77.7 million travelers to the state in last year spent $19.1 billion, recording $1.13 billion in local and state taxes, a jump of nearly 7% from 2014.
Although there are no certified numbers differentiating the reason for the growth, as per MarketWatch.com in 2014, a single travel booking site witnessed searches for Denver jump almost 75% YoY months after recreational pot use was approved in Colorado.
Wayne Zallen, the CEO of Grow Condos, reported that being in the real-estate market, they witness how this increasing paradigm shift is infiltrating the different sectors, and have revealed that there is a growing and strong demand for pot friendly vacationing. They consider that ‘Smoke on the Water Resorts’ is planned to be a win-win situation for campground holders, not only by feature of the revenue sharing arrangement, but because hassle-free accommodation that caters to this segment is expected to draw travelers from far and wide.