Medium Length Answer:
We expect our waterfront property in Washington to be renting this summer, the same with our first units on our the 1200-acre ranch in Wyoming.
Beyond our next builds were working on now, we are currently looking for more locations. We have secured three locations as of May 2022. We have our team continuing to search for more locations, although what has been happening during our search for investors is we have been getting offers for potential locations. Recently we were offered 250 acres in Washington DC from a potential investor. The initial plan is to get some density in our first locations so we can prove out our team and get all our systems in place. The first Cokeville location has the potential for many units with the initial 4 units expected to be in this summer. We are in negotiations with a second location which we would also start with 4 units, this location is only a few miles from the first one.
Our strategy is to start with a Glamping tents, and if we see that the occupancy and nightly rate is working then we would look at upgrading the tents to our “Signature Cabins”. Due to some of the different zoning regulations in some locations it will be better to prove out the location before going through the lengthy process of getting all approvals for a hard sided cabins. This first location is a prime example of that situation. We are building our Tents so that we can convert them into hard-sided year round cabins. We will also build as many of the other parts like the deck, so that it can be moved if the location does not prove to be profitable, at which time we would just move most everything to another location. This is all done in order to reduce our initial investments in any of our locations as that relates directly to the return we can offer to our investors.
We will continue to look for great locations and as this first one is being developed we will be working on our next ones. Right now we are looking south of the Grand Canyon, the mountains of Utah, and some Idaho outdoor adventure locations.