|9 Months Ended|
Sep. 30, 2018
|Organization, Consolidation and Presentation of Financial Statements [Abstract]|
Algodon Group, Inc. (the “Company” or “Algodon”), a Delaware corporation, was incorporated on April 5, 1999. Effective October 1, 2018, the Company changed its name from Algodon Wines & Luxury Development, Inc. to Algodon Group, Inc. The Company currently invests in, develops and operates international real estate projects. The Company’s wholly-owned subsidiaries are InvestProperty Group, LLC, Algodon Global Properties, LLC, Algodon Europe, Ltd., and Gaucho Group.
Through its subsidiaries, the Company currently operates Algodon Mansion (“TAR”), a Buenos Aires-based luxury boutique hotel property and has redeveloped, expanded and repositioned an Argentine winery and golf resort property called Algodon Wine Estates (“AWE”) for subdivision of a portion of this property for residential development. The Company is also in the process of establishing and managing a new, wholly-owned subsidiary, Gaucho Group, a Delaware corporation, for the manufacture, distribution and sale of high-end fashion and accessories created in Argentina, through an e-commerce platform. Under the brand name Gaucho-Buenos Aires, the Gaucho Group is currently developing both its initial products for manufacture and sale and its e-commerce platform. The Gaucho Group has not yet begun to generate revenues.
The entire disclosure for the business description and basis of presentation concepts. Business description describes the nature and type of organization including but not limited to organizational structure as may be applicable to holding companies, parent and subsidiary relationships, business divisions, business units, business segments, affiliates and information about significant ownership of the reporting entity. Basis of presentation describes the underlying basis used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS).
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef