SOURCE: Metrospaces, Inc.

Metrospaces, Inc.

March 22, 2016 08:00 ET

Metrospaces Takes Over Operations of Quality of Life Boutique Hotel in Morrocoy, Venezuela

MIAMI, FL--(Marketwired - Mar 22, 2016) - Metrospaces, Inc. (OTC PINK: MSPC) announces it has taken over the 22-room boutique hotel operations, and additionally makes second payment on Option to Acquire Agreement.

Mr. Daniel Silva, Company CEO, stated: This agreement allows us to take over hotel operations, management, administration and marketing of the "Quality of Life Boutique Hotel," starting April 1st, 2016. The Company will receive a hotel with approximately $215,000 in revenue and 30% EBITDA margin. However, and more importantly, it will be an immediate opportunity for management to show its expertise in taking over properties, raising operating efficiencies, as well as raising level of quality to provide investors above-average returns to investors. Our forecast is to raise revenue to approximately $28,500 per month within 4-6 months, with higher EBITDA margins than currently being obtained. Additionally, we made a second payment on the "Option to Acquire Agreement." Morrocoy is one of Venezuela's most important tourist vacations, thus a great opportunity to showcase our management capacities.

For images on "Quality of Life Hotel":

Other company highlights

JV Agreement with Prohotels of Argentina: In its refocusing of the company's business plan to hotel development, Metrospaces has executed a JV Agreement with Prohotels ( This partnership gears itself perfectly with the company's development and financing skills. This agreement calls for the development of 4 new hotels in the coming 3 years. It is a testament to our business plan execution.

Other Projects: The Company will continue to make a strong focus on building a chain of hotels, aimed at niche markets. In particular, we are looking at the possible acquisition of a 100% interest in another lot in the Orinoco Oil Belt region. Additionally, we are in talks to acquire 2 operating hotels.

Again, we want to thank all our new shareholders for taking an interest in our story and have given us the chance to be where we are at! We will continue to work very hard to make your investment in our company a success, and have very high expectations for 2015 and beyond!

About Metrospaces:

Metrospaces is a publicly traded real estate investment and Development Company which acquires land, designs, builds, and develops then resells condominiums and Luxury High-End Hotels, principally in urban areas of Latin America. The company's current projects are located in Buenos Aires, Argentina, and Caracas, Venezuela.

Six years ago Metrospaces shareholders saw a unique opportunity to participate in several exciting property markets around the world. Through their worldwide network of highly recognized real estate entrepreneurs, the company was able to capitalize on unique real estate development opportunities. Since inception the company has leveraged those relationships along with extensive financial expertise and transformed excellence by results.

Metrospaces is a boutique real estate development company, a product of the alliance of Metrospace shareholders, along with an elite group of real estate professionals and entrepreneurs located around the world. Company shareholders have extensive careers in real estate financing worldwide, and have funded projects both in the Americas and across Europe valued in excess of US $450 Million.

Metrospaces' majority shareholders have partnered with Investors on Elite properties including The London BLVGARI 5 Star Hotel, and are currently involved in negotiations for the development of several Elite luxury properties in South America.

Among Metrospace partners are Architects, Real Estate Developers, Agents and Attorneys of the highest standing, with extensive experience in the global property market.

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Safe Harbor Statement: Statements in this news release may be "forward-looking statements". Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release and Metrospaces Inc. undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release.

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