I Bought A 130 Unit Hotel and Resort!!

I Bought A 130 Unit Hotel and Resort!!

Investor 路 Ogden, UT 路 Member since 2018 路 295 posts 路 208 votes

So excited to announce to the community that as of last month, I acquired my largest deal to date which is a 130-Unit Hotel and Resort in the Smoky Mountains of Tennessee! I'll include all details below.

THE LOCATION: The hotel is conveniently located in the breathtaking Smoky Mountains, just minutes away from the Great Smoky Mountain NP entrance. And it doesn鈥檛 end in closing the deal; it's the beginning of an extraordinary transformation to come with a full renovation and redesign!

THE VISION: With 130 units and 8 buildings plus a wedding and event venue, our vision includes revamping this space into a dream hotel. Picture this: 3 pools and hot tubs, a dynamic game room, a versatile venue, pickle-ball courts, outdoor theater, mini-golf, and more. We are going to create a vibrant experience for our Guests!

THE NUMBERS: With a purchase price of $7M, my Investors and I put down $2.7M as the down payment on the property. With our vision mentioned above, we're allocating a whopping $3M into the complete renovation, re-brand and makeover of the hotel.

THE INVESTOR: For those of you who don't know me, I'm Blake Dailey and this is my 6th Boutique Hotel investment! My first purchase was back in 2021 with a small little 8-unit Boutique Hotel in Florida. Since then, I've documented the process as a Boutique Hotel investor and have a deep commitment to sharing my knowledge around Boutique Hotel Investing with others who are looking for a path to financial freedom, and Boutique Hotels is the best path to get there in my personal opinion. Let's connect!

19Reply
251 views

Most Popular Reply

Marc RiceBusiness Member
Real Estate Agent 路 Columbus Cleveland Dayton, OH 路 Member since 2018 路 2k+ posts 路 1k+ votes
2y
Quote from @Blake Dailey:

So excited to announce to the community that as of last month, I acquired my largest deal to date which is a 130-Unit Hotel and Resort in the Smoky Mountains of Tennessee! I'll include all details below.

THE LOCATION: The hotel is conveniently located in the breathtaking Smoky Mountains, just minutes away from the Great Smoky Mountain NP entrance. And it doesn鈥檛 end in closing the deal; it's the beginning of an extraordinary transformation to come with a full renovation and redesign!

THE VISION: With 130 units and 8 buildings plus a wedding and event venue, our vision includes revamping this space into a dream hotel. Picture this: 3 pools and hot tubs, a dynamic game room, a versatile venue, pickle-ball courts, outdoor theater, mini-golf, and more. We are going to create a vibrant experience for our Guests!

THE NUMBERS: With a purchase price of $7M, my Investors and I put down $2.7M as the down payment on the property. With our vision mentioned above, we're allocating a whopping $3M into the complete renovation, re-brand and makeover of the hotel.

THE INVESTOR: For those of you who don't know me, I'm Blake Dailey and this is my 6th Boutique Hotel investment! My first purchase was back in 2021 with a small little 8-unit Boutique Hotel in Florida. Since then, I've documented the process as a Boutique Hotel investor and have a deep commitment to sharing my knowledge around Boutique Hotel Investing with others who are looking for a path to financial freedom, and Boutique Hotels is the best path to get there in my personal opinion. Let's connect!

www.youtube.com/@BlakeDailey

www.instagram.com/BlakeJDailey


 Great stuff! My business partner and I are developing a 60 acre 15-unit glamping/wedding boutique resort in Asheville, NC right now and learning a lot along the way! Seems like 130 units is a beast to manage, I'd love to hear about your on-site management systems and "experience management" process to stand out amongst the fierce competition in the smokies.

Marc Rice | Investor Friendly Agent at Reafco Tailwind Team574 Reviews
See this reply in the discussion

38 Replies

Jump to latestLatest
  • Marc RiceBusiness Member
    Real Estate Agent 路 Columbus Cleveland Dayton, OH 路 Member since 2018 路 2k+ posts 路 1k+ votes
    2y
    Quote from @Blake Dailey:

    So excited to announce to the community that as of last month, I acquired my largest deal to date which is a 130-Unit Hotel and Resort in the Smoky Mountains of Tennessee! I'll include all details below.

    THE LOCATION: The hotel is conveniently located in the breathtaking Smoky Mountains, just minutes away from the Great Smoky Mountain NP entrance. And it doesn鈥檛 end in closing the deal; it's the beginning of an extraordinary transformation to come with a full renovation and redesign!

    THE VISION: With 130 units and 8 buildings plus a wedding and event venue, our vision includes revamping this space into a dream hotel. Picture this: 3 pools and hot tubs, a dynamic game room, a versatile venue, pickle-ball courts, outdoor theater, mini-golf, and more. We are going to create a vibrant experience for our Guests!

    THE NUMBERS: With a purchase price of $7M, my Investors and I put down $2.7M as the down payment on the property. With our vision mentioned above, we're allocating a whopping $3M into the complete renovation, re-brand and makeover of the hotel.

    THE INVESTOR: For those of you who don't know me, I'm Blake Dailey and this is my 6th Boutique Hotel investment! My first purchase was back in 2021 with a small little 8-unit Boutique Hotel in Florida. Since then, I've documented the process as a Boutique Hotel investor and have a deep commitment to sharing my knowledge around Boutique Hotel Investing with others who are looking for a path to financial freedom, and Boutique Hotels is the best path to get there in my personal opinion. Let's connect!

    www.youtube.com/@BlakeDailey

    www.instagram.com/BlakeJDailey


     Great stuff! My business partner and I are developing a 60 acre 15-unit glamping/wedding boutique resort in Asheville, NC right now and learning a lot along the way! Seems like 130 units is a beast to manage, I'd love to hear about your on-site management systems and "experience management" process to stand out amongst the fierce competition in the smokies.

    Marc Rice | Investor Friendly Agent at Reafco Tailwind Team574 Reviews
  • Real Estate Agent 路 Knoxville, TN 路 Member since 2024 路 18 posts 路 9 votes
    2y

    Blake, this is amazing!!!!! I saw this sold here. Congrats! I鈥檓 an agent/investor in the Smokies. I can鈥檛 wait to see what you do!!! 

  • Real Estate Agent 路 Knoxville, TN 路 Member since 2024 路 18 posts 路 9 votes
    2y

    I want to learn as much as I can do but at least a 12 unit. Goals!!!! 

  • Investor 路 Member since 2022 路 23 posts 路 4 votes
    2y

    Killer deal @Blake Dailey! I'm happy for you. Best wishes on this project

  • Investor 路 Ogden, UT 路 Member since 2018 路 295 posts 路 208 votes
    2y
    Quote from @Madeline Blom:

    I want to learn as much as I can do but at least a 12 unit. Goals!!!! 


     Great goal! Definitely a manageable place to start and a good stretch. We'll have to connect when I'm in town one of these times or once we relocate there in April.

  • Investor 路 Ogden, UT 路 Member since 2018 路 295 posts 路 208 votes
    2y
    Quote from @Matt Barge:

    Killer deal @Blake Dailey! I'm happy for you. Best wishes on this project


     Thanks man! I want to hear the update on your deal - hit me up!

  • Real Estate Agent 路 Knoxville, TN 路 Member since 2024 路 18 posts 路 9 votes
    2y

    Definitely! Let鈥檚 do it. 馃槉 Congrats, again! 

  • Investor 路 Ogden, UT 路 Member since 2018 路 295 posts 路 208 votes
    2y
    Quote from @Marc Rice:
    Quote from @Blake Dailey:

    So excited to announce to the community that as of last month, I acquired my largest deal to date which is a 130-Unit Hotel and Resort in the Smoky Mountains of Tennessee! I'll include all details below.

    THE LOCATION: The hotel is conveniently located in the breathtaking Smoky Mountains, just minutes away from the Great Smoky Mountain NP entrance. And it doesn鈥檛 end in closing the deal; it's the beginning of an extraordinary transformation to come with a full renovation and redesign!

    THE VISION: With 130 units and 8 buildings plus a wedding and event venue, our vision includes revamping this space into a dream hotel. Picture this: 3 pools and hot tubs, a dynamic game room, a versatile venue, pickle-ball courts, outdoor theater, mini-golf, and more. We are going to create a vibrant experience for our Guests!

    THE NUMBERS: With a purchase price of $7M, my Investors and I put down $2.7M as the down payment on the property. With our vision mentioned above, we're allocating a whopping $3M into the complete renovation, re-brand and makeover of the hotel.

    THE INVESTOR: For those of you who don't know me, I'm Blake Dailey and this is my 6th Boutique Hotel investment! My first purchase was back in 2021 with a small little 8-unit Boutique Hotel in Florida. Since then, I've documented the process as a Boutique Hotel investor and have a deep commitment to sharing my knowledge around Boutique Hotel Investing with others who are looking for a path to financial freedom, and Boutique Hotels is the best path to get there in my personal opinion. Let's connect!

    www.youtube.com/@BlakeDailey

    www.instagram.com/BlakeJDailey


     Great stuff! My business partner and I are developing a 60 acre 15-unit glamping/wedding boutique resort in Asheville, NC right now and learning a lot along the way! Seems like 130 units is a beast to manage, I'd love to hear about your on-site management systems and "experience management" process to stand out amongst the fierce competition in the smokies.


     Awesome man, that sounds like a sick project. I have a good developer friend in the area who has a similar type property I should connect you with if you don't know him. I really like Asheville too! Would be happy to connect sometime, shoot me a DM.

  • Don KonipolBusiness Member
    Investor 路 The Woodlands TX / Avon, CT 路 Member since 2009 路 6k+ posts 路 10k+ votes
    2y
    Quote from @Blake Dailey:

    So excited to announce to the community that as of last month, I acquired my largest deal to date which is a 130-Unit Hotel and Resort in the Smoky Mountains of Tennessee! I'll include all details below.

    THE LOCATION: The hotel is conveniently located in the breathtaking Smoky Mountains, just minutes away from the Great Smoky Mountain NP entrance. And it doesn鈥檛 end in closing the deal; it's the beginning of an extraordinary transformation to come with a full renovation and redesign!

    THE VISION: With 130 units and 8 buildings plus a wedding and event venue, our vision includes revamping this space into a dream hotel. Picture this: 3 pools and hot tubs, a dynamic game room, a versatile venue, pickle-ball courts, outdoor theater, mini-golf, and more. We are going to create a vibrant experience for our Guests!

    THE NUMBERS: With a purchase price of $7M, my Investors and I put down $2.7M as the down payment on the property. With our vision mentioned above, we're allocating a whopping $3M into the complete renovation, re-brand and makeover of the hotel.

    THE INVESTOR: For those of you who don't know me, I'm Blake Dailey and this is my 6th Boutique Hotel investment! My first purchase was back in 2021 with a small little 8-unit Boutique Hotel in Florida. Since then, I've documented the process as a Boutique Hotel investor and have a deep commitment to sharing my knowledge around Boutique Hotel Investing with others who are looking for a path to financial freedom, and Boutique Hotels is the best path to get there in my personal opinion. Let's connect!

    Congrats!  Well done 
    Private Mortgage Financing Partners, LLC
  • Matthew Irish-JonesBusiness Member
    Real Estate Agent 路 Buffalo, NY 路 Member since 2017 路 2k+ posts 路 2k+ votes
    2y
    Quote from @Blake Dailey:

    So excited to announce to the community that as of last month, I acquired my largest deal to date which is a 130-Unit Hotel and Resort in the Smoky Mountains of Tennessee! I'll include all details below.

    THE LOCATION: The hotel is conveniently located in the breathtaking Smoky Mountains, just minutes away from the Great Smoky Mountain NP entrance. And it doesn鈥檛 end in closing the deal; it's the beginning of an extraordinary transformation to come with a full renovation and redesign!

    THE VISION: With 130 units and 8 buildings plus a wedding and event venue, our vision includes revamping this space into a dream hotel. Picture this: 3 pools and hot tubs, a dynamic game room, a versatile venue, pickle-ball courts, outdoor theater, mini-golf, and more. We are going to create a vibrant experience for our Guests!

    THE NUMBERS: With a purchase price of $7M, my Investors and I put down $2.7M as the down payment on the property. With our vision mentioned above, we're allocating a whopping $3M into the complete renovation, re-brand and makeover of the hotel.

    THE INVESTOR: For those of you who don't know me, I'm Blake Dailey and this is my 6th Boutique Hotel investment! My first purchase was back in 2021 with a small little 8-unit Boutique Hotel in Florida. Since then, I've documented the process as a Boutique Hotel investor and have a deep commitment to sharing my knowledge around Boutique Hotel Investing with others who are looking for a path to financial freedom, and Boutique Hotels is the best path to get there in my personal opinion. Let's connect!


     Wow this place is beautiful.  I would love to see the after renovation pictures.  Congratulations. 

    Irish Jones Realty4.947 Reviews
    View Page
  • Member since 2024 路 162 posts 路 232 votes
    2y

    Beautiful property Blake, and great growing area, i drove through a few years ago, amazing scenerey and perrenial vacation spot, would you feel comfortable sharing the structure of the syndication for the investors, fees, projected IRR, or time weighted avg returns etc from a potential passive investor perspective? Best of luck, would love to stay there if ever passing through again.

  • Real Estate Broker | Investor | Property Manager 路 Plantation, FL 路 Member since 2015 路 228 posts 路 68 votes
    2y

    I just sent you a msg @Blake Dailey and congrats!  I have a goal of getting one hotel this year in my portfolio.  LFG!

    Closing on 120 townhomes in FL within the next 2-3 weeks (freddie mac moved our dates around), and have LOI's out on another 190 units currently in GA & FL.
    I have one of my major partners based in the Smokies and we love seeing this!  

  • Investor 路 Ogden, UT 路 Member since 2018 路 295 posts 路 208 votes
    2y
    Quote from @Paul Azad:

    Beautiful property Blake, and great growing area, i drove through a few years ago, amazing scenerey and perrenial vacation spot, would you feel comfortable sharing the structure of the syndication for the investors, fees, projected IRR, or time weighted avg returns etc from a potential passive investor perspective? Best of luck, would love to stay there if ever passing through again.

    Hey Paul. It is a very cool area! The IRR will be around 19-20% with a 3X equity multiple and 14% CoC. A big reason why I like hotels so much - I can buy cool properties in awesome destinations and get returns like that.
  • Rental Property Investor 路 Delray Beach, FL 路 Member since 2016 路 10 posts 路 24 votes
    2y

    Congrats!

  • Ronald RohdePro Member
    Attorney 路 Dallas, TX 路 Member since 2016 路 5k+ posts 路 2k+ votes
    2y

    beautiful photos!

  • Cliff BennerBusiness Member
    Accountant 路 Denver, CO 路 Member since 2020 路 394 posts 路 183 votes
    2y

    @Blake Dailey That is amazing!!!

    I am looking to get my first one in the mountains of Colorado here! 

    What kind of resources do you recommend for finding a good first choice?

    Benner Stride52 Reviews
  • Investor 路 Ogden, UT 路 Member since 2018 路 295 posts 路 208 votes
    2y
    Quote from @Cliff Benner:

    @Blake Dailey That is amazing!!!

    I am looking to get my first one in the mountains of Colorado here! 

    What kind of resources do you recommend for finding a good first choice?


     I DM'd you! Colorado is awesome and a good place to start with the strategy.

  • Investor 路 Arizona & Oregon Coast 路 Member since 2023 路 128 posts 路 113 votes
    2y

    @Blake Dailey sounds like I should be following you to learn more about this segment. We already own a number of long term rentals on the Oregon Coast. We are interested in doing something different for our next purchase up there. I have been thinking small office or retail (which I have experience in); larger multi family (10-20 unit), RV Storage, and have even thought about beach front hotel, or at least ocean view hotel. There are so many run down hotels along the coast and I love to take a run down property and turn it around. 

  • AJ WongBusiness Member
    Real Estate Broker 路 Oregon & California Coast 路 Member since 2022 路 834 posts 路 696 votes
    2y
    Quote from @Brian Kloft:

    @Blake Dailey sounds like I should be following you to learn more about this segment. We already own a number of long term rentals on the Oregon Coast. We are interested in doing something different for our next purchase up there. I have been thinking small office or retail (which I have experience in); larger multi family (10-20 unit), RV Storage, and have even thought about beach front hotel, or at least ocean view hotel. There are so many run down hotels along the coast and I love to take a run down property and turn it around. 

    @Brian Kloftundefined

    SO MANY! For both Oregon Coast short term rentals and hotels/motels there is a drastic need for modern and updated hospitality. I've posted about Boutique hotels previously being the next high value investor asset class.. there are several examples of properties that have made 2024 improvements and nearly doubled the income and asset valuation. (The B Side Motel in Bandon is one) currently listed for $2M+ combination of 10-12 units and RV hosting. I have an off market 12 unit on the coast and a 25+ unit Oceanfront in Bandon that would also consider selling..

    Lastly there is an 80+ unit coastal motel I have my eyes on. Needs some lifting but target price is $50-60k per key. 

    Sesemi | STR Brokers powered by Fathom Realty 516 Reviews
  • Member since 2023 路 8 posts 路 1 vote
    2y

    Would you have time to speak with me? I am new to this and I would like to benefit from your experience please.

  • Investor 路 Arizona & Oregon Coast 路 Member since 2023 路 128 posts 路 113 votes
    2y
    Quote from @AJ Wong:
    Quote from @Brian Kloft:

    @Blake Dailey sounds like I should be following you to learn more about this segment. We already own a number of long term rentals on the Oregon Coast. We are interested in doing something different for our next purchase up there. I have been thinking small office or retail (which I have experience in); larger multi family (10-20 unit), RV Storage, and have even thought about beach front hotel, or at least ocean view hotel. There are so many run down hotels along the coast and I love to take a run down property and turn it around. 

    @Brian Kloftundefined

    SO MANY! For both Oregon Coast short term rentals and hotels/motels there is a drastic need for modern and updated hospitality. I've posted about Boutique hotels previously being the next high value investor asset class.. there are several examples of properties that have made 2024 improvements and nearly doubled the income and asset valuation. (The B Side Motel in Bandon is one) currently listed for $2M+ combination of 10-12 units and RV hosting. I have an off market 12 unit on the coast and a 25+ unit Oceanfront in Bandon that would also consider selling..

    Lastly there is an 80+ unit coastal motel I have my eyes on. Needs some lifting but target price is $50-60k per key. 


     We aren't quite there yet, still finishing doing some restructuring. Feel free to send me some properties so that I can start looking at them and getting more familiar with their financials. 

  • Investor 路 Ogden, UT 路 Member since 2018 路 295 posts 路 208 votes
    2y
  • Investor 路 Ogden, UT 路 Member since 2018 路 295 posts 路 208 votes
    2y
    Quote from @James McPherson:

    Would you have time to speak with me? I am new to this and I would like to benefit from your experience please.


     Yep!

  • Investor 路 Member since 2023 路 1 post 路 2 votes
    2y

    Amazing achievement! Congrats on the acquisition

  • Investor 路 Arizona & Oregon Coast 路 Member since 2023 路 128 posts 路 113 votes
    2y
    Quote from@Blake Dailey:

    @Blake Dailey  Thanks. Not so worried about building momentum. We already have had that and are only looking at getting one or two more properties unless we decide to 1031 one of our multi unit properties. Between Oregon and AZ residential and commercial we have around 23 units with only a couple of small loans. I know not typical on here to have such a little amount in loans but we enjoy great cash flow that we live on, have lots of flexibility in what we can do and have no concern about making payments if the economy were to take a dump. We are just interested in doing something a little bit different than what we have done over the last several years. However when a great property that fits what we like (ugly and a great price where we can use our skills to make it beautiful) comes around that we can take advantage of our position and get it, we want to be knowledgeable about that property type and be able to jump on it. 

Join the conversationCreate a free account to reply, vote on answers and follow this thread.