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Revolution ’ s Rise of the Rest Seed Fund . Over its 10-year life cycle , Collective Retreats has attracted over $ 40 million in investment , primarily equity , with funds raised through hospitality networks and those interested in nature-based hospitality . “ We have become a lightning rod for investors seeking to build pioneering assets in nature-based hospitality ,” Mack said .
He noted such capital infusions have supported
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A New York City Retreat , with Manhattan in the background .
three major avenues for Collective Retreats : expansion of its portfolio to include a second brand called The Conservatory Collective , a soft-brand collection with more than 75 international members ; creation of a scalable management platform in the sector wherein it manages assets under both brands for real estate investment owners ; and the fast-tracking of R & D and sector knowledge into state-of-the-art prototypes and experiences at its locations .
Current destinations include Governors Island in New York City ; Hill Country , Texas ; Vail , Colo .; and Tumbling River Ranch two hours outside Denver . It also manages El Cosmico , Marfa , Texas , as part of The Conservatory Collective .
Like other outdoor outlets , Creative Retreats offers a mix of accommodations that range between $ 85,000 and $ 350,000 to set up across anywhere from seven to 30 acres with the number of “ units ” ranging from 12 to 60 .
“ This [ set-up ] range reflects
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the customization based on location , climate and the type of facility ,” said Mack . For instance , a soft-walled tent represents the lower end of that range , while the higher end encompasses hard-walled structures with advanced air conditioning and premium amenities , he mentioned . “ Villas , with their luxurious features and hard walls , fall into the upper echelon of this spectrum .”
There also are some permanent structures at the sites . These typically include hub assets , like a main lodge , soaking tubs , event spaces and restaurants . The portfolio contains several different hold structures , including public-private partnerships , such as Collective Governors Island , which is on leased land from the City of New York ; private land that is leased by Collective Retreats ; or owned by its partners . Mack said the average cost of investment ranges from close to $ 1 million to $ 30 million , depending on the destination , which may be year-round or seasonal .
In terms of industry performance metrics , the CEO shared luxury units achieve more than $ 800 ADR at Collective Governors Island . “ In season , we consistently outperform industry comps ,” he said .
Collective Retreats has just started to expand internationally from a management perspective and has announced it has been selected to open a
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WE HAVE BECOME A LIGHTNING ROD FOR INVESTORS SEEKING TO BUILD PIONEERING ASSETS IN NATURE- BASED HOSPITALITY
– PETER MACK , CEO , COLLECTIVE
RETREATS
sustainable property in Trojena in the mountains of Saudi Arabia ’ s NEOM project . Its Conservatory Collective runs the global gamut from North , Central and South America to Europe , Middle East and Africa to the Maldives and Antarctica .
“ We know that our audience of U . S . -based nature-enthusiasts are not only looking for places to travel domestically , but also internationally , so growing through management and affiliation has allowed us to give this audience more options to choose from ,” said Mack .
Mack is skeptical of critics who suggest the entire glamping concept is disruptive to formerly pristine environments . “ Connecting people to beautiful places in nature empowers them to protect those places ,” he said .
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Oct / Nov 2024 hotelsmag . com 33 |