Thesis
Regenerative tourism is a long-duration real-asset class. The supply is constrained by geography and by the willingness of operators to take a decade-long view. The demand — high-net-worth experiential travel — is structurally bid and recovers fastest after every cycle. The cell finances assets that are too operational for traditional real-estate funds and too illiquid for hospitality funds, with patient capital structured for institutional reporting.
Market
- Target hold
- 10–15 years
- Geographic focus
- Channel Islands · Mediterranean · Caribbean
- Cheque size per asset
- US$15–60m equity
- Operating partner
- Sponsor-led, performance-aligned
Cell architecture
Each asset is acquired into a single Protected Cell with its own waterfall, custody arrangements, and reporting. Senior debt sits at the asset level; equity sits in the cell. The cell directors include an independent chair and a sponsor-side operating director. Quarterly NAV is independently verified; monthly KPI reporting comes direct from the property management system.
Sponsor profile
- Owner-operators with prior experience operating boutique or eco-resort assets through at least one full cycle.
- Track record of EBITDA growth post-renovation, not just acquisition.
- Willingness to take long-dated equity rather than quick-flip carry.
- Aligned ESG framework consistent with Guernsey Green Fund eligibility where applicable.
Investor terms · indicative
- Target net IRR
- 12–16%
- Cash yield (steady state)
- 5–7% p.a.
- Subscription minimum
- US$250,000
- Liquidity
- Locked through stabilisation; secondary venue from 2028
Milestones
- 2026 — Pilot cell warehoused; first asset under exclusive diligence.
- 2027 — First close; subscription window for accredited and institutional capital.
- 2028 — Second asset acquired; cell-level reporting cadence established.
- 2029 — Steady-state yield distributions begin; secondary venue opens for cell tokens.