Pacific Star partners holiday home start-up

Crowdvilla's holiday homes will fit the "casual luxury" segment, with room rates ranging from US$100 to US$200 a night, depending on location, size and ratings by previous users. The start-up will first focus on gateway tourist destinations and citie
Crowdvilla's holiday homes will fit the "casual luxury" segment, with room rates ranging from US$100 to US$200 a night, depending on location, size and ratings by previous users. The start-up will first focus on gateway tourist destinations and cities in Asia such as Kuala Lumpur, Bali, Tokyo and Hong Kong.PHOTO: PACIFIC STAR DEVELOPMENT

It will shortlist units for Crowdvilla, which is targeting $67m in a digital token sale

A unit of Pacific Star Development has become the exclusive asset manager for Crowdvilla, a start-up expecting to raise up to US$50 million (S$67 million) in a digital token sale to build a portfolio of shared holiday homes.

The unit - Pacific Star Development Singapore - will help source and shortlist potential apartments, villas or hotels for Crowdvilla to acquire or rent and run, under a non-binding deal signed yesterday.

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A version of this article appeared in the print edition of The Straits Times on May 03, 2018, with the headline 'Pacific Star partners holiday home start-up'. Print Edition | Subscribe