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Melissa
Hello, how often will you provide updates about operations and profitability once open? Also, is there a ramp up phase included prior to reaching the stabilized occupancy target? Thank you.
The Native
ISSUER
Hi Melissa! We plan on providing quarterly updates along with our annual reporting required by the SEC.
Vinnie
Have you finalized the bank loan with Plains Capital Bank? How much was financed through them and at what rate?
The Native
ISSUER
Hi Vinnie! The bank loan will be $3M, with interest only for 18 months and a 10 year term at 4.25%. We anticipate closing the loan on the 18th of July.
Vinnie
Thanks for the info! Can you explain why you wouldn't fund the entire project through the bank? Also, what is the contingency plan if the loan doesn't go through?
The Native
ISSUER
Banks do not fund typically more than 80% of a project value so the NextSeed funding will be supplementing the 20% ratio that we need to maintain. The bank loan has been secured based in part on the NextSeed funding.
Patrick
Very astute observation on the addresses being the same, Barrett.
Barrett
Hi guys, could you please provide a brief update on the status of the permits / construction timeline? In a response on May 31 you mentioned that excavation / demo had started and that you expected to receive the full building permit -- has that occ ...
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The Native
ISSUER
Hi Barrett, we’re likely going to be opening in January now due to permit delays. We’re still awaiting the release of our building permit, however, we have gone through the first round of review with very minimal comments from the city. Hopefully we ...
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The Native
ISSUER
Hey everyone! We now have a simple landing page up at nativehostels.com. Please feel free to take a look ...
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Terence
From the layout and design, it appears that the bar will have a different exterior facade than the lobby. Is that correct to say? With 2/3 of projected revenue coming from food & beverage, does the pro forma assume the F&B revenue will be coming from ...
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The Native
ISSUER
Hi Terence, thanks for your questions. Yes, the exteriors will be different - one is stone and the other is brick. Our forecasts are in fact based on providing an experience for guests and locals alike. This is an important factor in our model so tha ...
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Scott
It is hard to tell from the posted diagrams where the bathrooms are for the shared rooms and for the private suites. Can you please explain?
The Native
ISSUER
Hi Scott, the architectural sheet A2.1 (below “Use of Proceeds”) shows the layout that indicates that each room has its own shower, sink and toilet, allowing people to have their privacy without having to walk down a public hallway in their underpant ...
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Dustin
Mr. Dickson seem to have his hand full of currently owned six different business that he management day to day. How is he going to have the time to oversee The Native? Also, of all his currently owned six business, how successful are they and can t ...
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The Native
ISSUER
Hi Dustin - Michael Dickson here. I don't currently operate the bars as much as I am involved on the front end with concept, design and planning. We employ operations teams at each of our locations consisting of General Managers, Asst Managers, marke ...
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Evan
Could you please post higher quality plan images, and the site/landscape plan? Also, please any schematic or concept desgin documents that show the materiality of the spaces and surroundings. If their unique brand is their selling point I would expec ...
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The Native
ISSUER
Hello Evan! We completely understand your requests and are currently working with our design team on more imagery and renderings, which we plan to post shortly so everyone can get a taste of our vision for The Native. However, we'd prefer not to post ...
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Evan
I clearly understand the privacy concerns of posting more documents. However I would like to see a basic landscape plan show the situation of the building, parking layout, and any other key programmatic elements. If it was a rendered plan or even dia ...
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The Native
ISSUER
Evan, we’re comfortable posting the image below for investors to review. There really is minimal landscaping, except the wrap-around patio, which we will seat for the restaurant. Renderings of the interior and exterior will be posted soon so stay tun ...
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Thomas
Please correct me if my math is wrong, but since you are offering 5% of revenues for an offering of up to $500,000, with a 2x return, that means you will need to hit $20 million in revenues before you can provide that return. Since this has a maturit ...
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The Native
ISSUER
Hi Thomas, thanks for your question. We actually break down the math on how we expect to return 2x to investors in the pro forma that is included on page 19 of the Disclosure Statement. We believe the forecasts in the pro forma are reasonable or even ...
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Chris
The disclosure covers information on the hotel market in Austin, but can you provide some details on the hostel market in Austin? Through my own research, I've found a nearby competitor, and curious what their revenues and occupancy have looked like. ...
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The Native
ISSUER
Hi Chris. Firehouse Hostel, which is nearby, has run so successfully that they are opening a 2nd location in Houston later this year. Unlike nearby hostels, however, we are introducing an integrated hostel, bar and food, and music destination for int ...
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Patrick
What do you anticipate charging per night for lodging? What is the size of the building you are buying an also the size of the lot (in sq/ft)?
The Native
ISSUER
Thanks for your question, Patrick. Beds start at $49/night. We have a 20-year lease, and are not purchasing the property. 10,481 sf of interior conditioned space, 15,235 sf of exterior parking and event space.
Robert
Why would you launch a crowdfunding campaign with no website, no social media presence, no media coverage, etc.? Did you not read one single article on how to launch a successful crowdfunding campaign??
The Native
ISSUER
We want all attention and media focused and directing towards NextSeed. Social media and website to follow!
Dustin
Is there a Bonus Rewards?
NextSeed
Hello Dustin - The Native will be offering bonus rewards and the offering page will be updated accordingly. Bonus rewards will be provided to all investors, including those of you who have already invested in The Native.
Dustin
Thank You. I will invrat once the website is up and the bonus is offerred.
Dustin
Is there a website of the Native Hostel?
The Native
ISSUER
Yes, the website will be up shortly and the URL will be nativehostels.com. Thanks!
Taylor
Great presentation. Very informative, and I look forward to being involved!
The Native
ISSUER
Thanks, Taylor! We’re looking forward to having you there!