SAN JUAN CAPISTRANO, CA–Soul Community Planet (SCP), Inc., a Holistic hospitality company, today announced it has agreed to terms for a strategic investment that will provide up to $210 million to pursue growth opportunities.
SCP was founded on the core values of wellness (Soul), kindness (Community) and sustainability (Planet). SCP provides hand-crafted venues comprising hotels, coworking, restaurants and fitness.
The new investment follows a successful introduction of SCP, which has seen travelers, members, and associates enthusiastically embrace the values-based concept. The new investment, coupled with prudent levels of property-level debt, gives SCP upwards of $500 million of capacity to grow its Holistic Hospitality brand through hotel acquisitions and partnerships. Additionally, the new investment will provide strategic working capital for further brand advancement and competitive enhancements to existing SCP properties.
“Today the hospitality industry is defined by mature corporate brands offering traditional amenities and services. As we as a society reassess our priorities, conscious travelers are seeking out accommodations, remote workspaces and wellness venues that are better aligned with their own core values. As a result, many are finding SCP to be a highly appealing alternative to more traditional hospitality offerings.” Said Soul Community Planet Co-Founder and CEO Ken Cruse. “The enhanced financial resources we now have at our disposal put us in a strong position to bring SCP to a broad range of new markets and serve a deeper pool of conscious consumers desiring to make positive choices for themselves, their communities and the planet.”
In addition to growing through direct acquisitions of well-located boutique hotels and vintage motels for conversion to the SCP brand, SCP is actively exploring debt investments, key-money or strategic partnerships with existing owners of well-located properties with the potential to exemplify the values of Soul Community Planet.
In conjunction with the new investment, SCP will form SCP Hospitality, an integrated brand, management company and hotel owner. This structure will ensure effective oversight of all aspects of SCP’s culture and operations, and will eliminate the inefficiency of typical third-party branding and management expenses.
“The hospitality industry is currently enduring unprecedented distress, which, while painful, is opening new windows for innovation and opportunities for future growth through better alignment with the needs of modern consumers. Today, SCP is the only accessibly priced hotel brand that is solely centered on the values of wellness, social good and eco-friendliness, yet a deep and growing share of our population is actively seeking out responsible lodging, work and socialization venues. We’re looking to create positive outcomes for conscious consumers as well as existing owners of well-located boutique hotels and vintage motels who share our belief in the values of healthy, kind and green,” said Cruse.
The transaction is expected to be finalized in Q4 2020.
Stifel, Nicolaus & Company, Incorporated is acting as financial advisor and placement agent on behalf of Soul Community Planet.