Summer hiatus? Far from it!

Heads over heels into a new project

Sometimes you have to seize unexpected opportunities when they present themselves. We started a new venture we would briefly like to report on rather than expand on Wirecard, as we had previously planned. In addition, the Wirecard case has now become political, a dimension we prefer not to deal with.

Unlike traditional wealth money management businesses, we have total flexibility in what we endeavor as a family office. We have applied our seaeagle metaphor the we use for our investing style – “Soaring heights, but with a keen eye for detail; showing patience and diligence, but with a hunger for results; and grasping opportunities with speed and vigour.” – for our new project: a local hospitality business.

From a global view point, Northern Europe had been one of the most underrated tourist regions despite offering some strong points: Moderate climate, no nasty wildlife (except the odd mosquito), expansive landscapes with much water, the finest (clean!!) sand beaches.

Now, two factors swing in favor of our region. The long-term trend of global warming has made the past decade in Europe the warmest one on record. When other regions become unbearable due to the heat, the Baltic region becomes a dream environment, a dry heat and endless days. The short term catalyst that triggered our decision was this year’s virus pandemic. We are very supportive of the huge strides humanity has made in terms of globalization, but it obviously is detrimental to viruses spreading as a result. Stay at home tourism is likely to last beyond this year. Plus, the trend away from mass tourism towards individual/small groups will accelerate. In a sharing economy costs do not need to be much higher either.

We therefore undertook this project as quickly and intensely as possible to still capture the peak of the summer season. We succeeded with a mid-July launch and now have bookings into autumn/winter and 2021. The rich potpourri of guests has been amazing, from local city people from Hamburg or Berlin to cyclists that rode 700km to get here. We have already had five different languages spoken here (six if you count Australian).

We have no illusions about hospitality as a business. It is a lot of hard work that can go unappreciated. You have to invest heavily, money and time, in order to get top ratings and then be able to make a financial return. It is much too early to make an overall assessment, but there is a most pleasant surprise: the emotional return when your guests report on their experience with glowing faces (and reviews).

The HanseaticHunter

#baltic #carpediem #investingintoexperiences #emotionalreturns