The Hotel Investor Playbook How Sky McLean Built a $500M Hotel Brand from Scratch | Sky McLean E26
Apr 15, 2025
Sky McLean, founder and CEO of Basecamp Resorts, turned a job loss into a thriving hospitality brand with over 14 resorts and half a billion in real estate. She shares her journey from bootstrapping a hotel with a BMW loan to raising $40 million via Instagram. Sky discusses innovative financing strategies, her choice to avoid big-name hotel brands, and how she balances 500+ employees with being a full-time mom and outdoor enthusiast. This conversation is an inspiring blend of grit, creativity, and practical insights for aspiring hotel investors.
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Bootstrap Land Purchase With A BMW Refund
- Sky McLean financed her first land deposit by cashing out a nearly-new BMW and using the check as a down payment.
- She raised $2M in six months from friends and private investors and borrowed construction debt at 9% to build the first Basecamp.
Purpose-Built Airbnb Operated As Hotel
- Basecamp's thesis was to build purpose-built Airbnb-style condos operated as hotels with kitchens and multiple bedrooms.
- This hybrid captures shorter stays with hotel operations while offering the home-like amenities guests want.
Short-Term Model Beats Long-Term Returns
- Sky compared IRRs of long-term rentals versus short-term hospitality and found hospitality far superior on the same asset form.
- She targeted branded quality control to solve Airbnb's inconsistency while keeping the desirable amenities.