In 2021, I bought 20 acres in Wimberley for $1.4 million.
What happened next nearly broke me.
We turned the land into a $25 million treehouse hotel with 28 units. But a year into planning, our designs were $6 million over budget. Our lender withdrew our loan approval with $2 million already deployed. We switched architects.
There were many moments I thought it might never get built.
We opened September 2024. And now, just over a year later, my chief of staff just pulled the numbers.
October revenue: $326,000 (up 66% year-over-year).
$450 ADR at 76% occupancy. 60% gross operating profit margin. Projecting over $1.8 million in NOI for our first full year.
And we’re maintaining 85% direct bookings – proving the social-first model works.
But here’s what really changed everything: group bookings.
Right now we have a full property buyout for Give to Give – a nonprofit running retreats for veterans with PTSD. Full occupancy in shoulder season midweek.
That’s the recurring group business we needed to prove the model works beyond weekend leisure.
What’s next? Adding a wellness pod (sauna, cold plunge, halotherapy, float pod) and exploring an F&B concept in our event barn.
I’m breaking down the full journey – the full breakdown of the numbers, the group sales breakthrough, expansion plans, and where we’re headed – in this week’s newsletter.
We’re also raising $4 million in private debt at 11-12% annual yields from accredited investors. Closes December 19th. Webinar December 10th at 5pm Central for anyone interested.
Sign up here for the full breakdown and info on the raise:
https://lnkd.in/ed5frq6Z
And here’s the link to the webinar on December 10th at 5pm Central:
https://lnkd.in/gn8JyS6H