Guesthouse builds TRevPOR for homes — we acquire single-family residences in lifestyle markets, operate them as a distributed hotel, and capture roughly 2× the ADR in total revenue per occupied room (versus 1.3× for traditional hotels), producing a 300–500 BPS cap rate premium over conventional SFR/multi-family.
Every Guesthouse decision starts here. A TogetherStay is a whole-house, multi-night, multi-person booking — the entire 4-bedroom home for 3+ nights, typically 4–8 guests. Currently Horan House (Truckee), with Titus House and four pipeline properties behind it.
Average $607/night ADR (4× the national STR average). The whole-house format means all rooms rent at once: AADR (Aggregated Daily Rate per house) hits $2,429/night when occupied — the metric that matters for portfolio economics.
The TogetherStay is the atomic unit. Every other piece of the system either generates demand for it (ACCESS), expands supply of it (EXT), or adds revenue layered on top of it (YIELD, Tea Lights, Pantry).
The hardware (TRevPOR, the three engines, the +350 BPS) is what makes Guesthouse work financially. The soft bit is what makes it Guesthouse — and what compels someone to pay a $607 ADR rather than a $200 one.
Every Guesthouse is purpose-built. Hálfdan Pedersen design language, Bjarke Ingels Group on the operating model, GLA-Morris on the build. The home is a designed object, not a found one. This is what separates Guesthouse from a renovated Airbnb.
Every stay is staffed end-to-end (Captain, Chef, Guide). The Union Square Hospitality Group partnership shaped the operating model. Guests feel held, not hosted. This is what separates Guesthouse from self-service STR.
Charter members aren't customers — they're a community. ACCESS is membership, not booking. Tea Light partners are the local economy, not vendors. The town becomes part of the brand. This is the moat that doesn't appear on a balance sheet.
These three are the soft bit that endures. Markets shift, tactics change, but a Guesthouse that's well-designed, well-staffed, and well-connected to its town keeps its premium through any cycle. The financial model works because of the soft bit, not in spite of it.
The Guesthouse multiplier turns a premium ADR into roughly 2× topline per occupied room — versus the 1.3× that traditional hotels capture.
Traditional hotels capture ~30% on top of ADR via F&B and amenities. Guesthouse captures ~72% — and we capture it at booking, not as upsell. Three roles drive it:
This is the Guesthouse multiplier. It's why a $607 ADR turns into a $1,264 TRevPOR. It's also why the unlevered yield (NOI/cost) hits 12.4% versus 6.2% for comparable multi-family — that 300–500 BPS spread is the asset-level expression of the multiplier.
The system has three engines, each feeding The TogetherStay. None work alone.
Charter membership program targeting top California tech, law, and entertainment companies. Employees verify their corporate email domain → unlock membership → book corporate stays at Horan House. The web app at insights.guesthousecompany.com is the entry funnel. Target: 100 charter members generating ~250 nights/year (capacity of one Horan House at high occupancy).
When Horan House is full, demand routes to vetted overflow partners. Captures revenue otherwise lost to a "no vacancy" sign. SPHERE is the supply-side intelligence for this engine — which luxury hotels and partner properties join the network. EXT is what makes occupancy effectively exceed 100% of a single property's room-nights.
Demand-responsive enhancement of the stay. Tea Light partners (local restaurants, ski concierge, etc.) absorb staffing load and extend the experience into town. Perk stacks dispatch dynamically based on occupancy tier — soft demand activates more perks to drive bookings; peak demand stacks differently. YIELD is the engine that adds 350 BPS on top of base RevPAR every night by making each stay activity-richer without pushing rate.
Two channels extend revenue beyond the stay window itself.
Partner restaurants in Truckee take a share of meal delivery for our guests. Dual purpose:
Tea Lights is the perk-stacking instrument that YIELD dispatches. It's also the connective tissue between Guesthouse and the local economy — the operational expression of the Community pillar.
The food Chef Quinten makes for guests gets packaged as MRE-style products — sold through Titus House's retail front to non-guests. Monetizes the kitchen production line beyond the stay window. Creates a SKU business adjacent to the hospitality business — small revenue today, optionality later.
Three operating systems run the engines:
| Platform | Powers | Lives In |
|---|---|---|
| ACCESS | Demand engine — charter web app, email verification, prospect pipeline | Tech Stack/ACCESS/ |
| COOKS | Culinary Operations, Ordering & Knowledge System — Captain/Chef execution layer + Tea Light coordination + Pantry SKU management | Tech Stack/COOKS/ |
| SPHERE | Luxury property intelligence — where to expand, which hotels join EXT | Tech Stack/SPHERE/ |
YIELD is currently a framework + skill, not a dedicated platform. May graduate to its own dashboard if Tea Light coordination or perk-stacking complexity demands it.
Themed Stays is a tactic that lives across COOKS and ACCESS — curated weekend programs that drive bookings into soft-demand windows.
Read clockwise — every piece reinforces the next:
| Metric | Guesthouse | Benchmark |
|---|---|---|
| ADR | $607 | $200 (national STR avg) |
| RevPAR | $433 | ~$110 (national STR avg) |
| AADR (whole-house aggregated) | $2,429 | — |
| TRevPOR | $1,264 | ~$260 (hotels at 30% on ADR) |
| Yield (NOI/Cost) | 12.4% | 6.2% (multifamily) |
| Yield premium | +300–500 BPS | — |
| Target portfolio IRR | Mid-20s% | Single-digit (SFR) |
Conservative base case: hold 5 years, sell on HPA + cash flow. Upside case: aggregate portfolio, sell on cap rate basis to an institutional buyer or build the REIT.