Boutique Hospitality · Europe
Slide 1 · Investor Notes
First acquisition — Investor notes

One beautiful hotel.
Fixed-yield notes.
Avalon keeps the upside.

Our first European boutique hotel is financed not through a fund, but through secured notes tied to a single, identifiable asset that we intend to hold and improve for the long term.

In one sentence: you provide capital as secured notes for one hotel; you receive predictable Euro income and collateral, and Avalon retains the equity and long-term appreciation.

For investors, this behaves like elegant private credit backed by real keys, rooms and guests – not an abstract, pooled vehicle.

View full structure Speak with Chris
Fixed-yield, asset-backed notes · Not a fund · Not a syndicate
Boutique Hospitality · Europe
Slide 2 · Why Notes, Not a Fund
Why this structure

Why fixed-yield notes,
not a pooled fund.

Most emerging sponsors raise equity: preferred returns, waterfalls, shared upside. For Avalon’s first acquisition, we chose a simpler, older pattern — one that lets investors behave like elegant lenders, while Avalon behaves like a long-term owner.

The essence: investors hold secured notes tied to one hotel and earn defined Euro yield; Avalon holds the equity, control and long-term appreciation.

This makes the trade legible: your return is expressed as income and security; our return is expressed as work, patience and the value we create above your claim.

View full deck Back to terms overview
Clarity for investors · Control & upside for Avalon
Boutique Hospitality · Europe
Slide 3 · The Target Asset
The kind of hotel we buy

A small, character-rich
European hotel.

We focus on 20–40 key hotels with architectural charm, heritage identity, and clear pathways to revenue enhancement — the kind of assets that reward patience, precision and beauty-forward stewardship.

Our rule: we only acquire a property we would be proud to own for the next twenty years — even if we never sold it.

These are not distressed assets; they are under-optimized ones — beautiful shells awaiting thoughtful operatorship, light programming, and the brand value Avalon layers over time.

View mandate Discuss opportunities
Architectural · Romantic · Enduring · 20–40 keys · Europe
Boutique Hospitality · Europe
Slide 4 · The Trade
The Exchange

What You Receive

Contractual Euro yield secured against a single, identifiable hotel — simplicity, stability, and elegant private-credit clarity.

What We Take On

The work, risk, precision and long-horizon stewardship required to shape and elevate the asset — a responsibility we embrace fully.

Stewardship shaped by lives spent in disciplines where details, outcomes, and the long horizon matter.
A clear partnership · Each side plays its natural role
Boutique Hospitality · Europe
Slide 5 · Alignment & Upside
Why This Works

The structure aligns incentives without dilution or complexity. Investors receive defined Euro yield and security; Avalon retains the long-term value we create through care, precision and stewardship.

Aligned Interests

Your return is contractual income and asset-backed safety. Our return is the upside we earn only by elevating the hotel.

Clear Roles

You are the capital providing stability. We are the operators, renovators, and long-horizon stewards.

Shared Outcome

When the hotel becomes more beautiful, profitable and enduring, you are paid predictably — and we create lasting value.

The logic is simple: your safety is strengthened by our pursuit of excellence. And our pursuit of excellence is strengthened by keeping the upside.
Elegant alignment · No dilution · No waterfall
Boutique Hospitality · Europe
Slide 6 · The Avalon Standard
The Avalon Standard

Our work is guided by a simple belief: hotels can be stewards of beauty, memory and longevity. We choose assets worth caring for, and apply the same long-horizon discipline that defines how we live, create and serve.

Beauty

A commitment to spaces that restore, uplift and endure — not fashion, but presence. Rooms, courtyards and light treated with respect.

Precision

Details matter. Craft, operations, finance, experience — the small decisions compound into lasting value.

Care

The human element. The quiet belief that hospitality can improve wellbeing, and that longevity begins with how people are treated.

A standard shaped by disciplines where outcomes and the long horizon matter — a way of seeing that guides how we steward each hotel.
Beauty · Precision · Care
Boutique Hospitality · Europe
Slide 7 · The Notes
The Notes

A simple instrument with clear terms: defined Euro yield, asset-backed security, and alignment through Avalon’s retained equity. No waterfalls. No dilution. No pooled risk.

Instrument

Secured notes issued by the SPV that acquires and owns one hotel. Investors are lenders with contractual rights and collateral.

Yield

A defined annual Euro yield, paid quarterly. Stable, predictable, and backed by real operating cash flows.

Security

Senior claim on the hotel asset ahead of Avalon’s equity. Collateral is not abstract — it has rooms, guests, and revenue.

Term

Multi-year maturity designed to match the improvement cycle. Optional refinancing, buyout, or continuation at Avalon’s discretion.

Built for clarity and long-term alignment — a structure where your safety and our ambition reinforce one another.
Simple · Secured · Aligned
Boutique Hospitality · Europe
Slide 8 · How It Ends
How It Ends

Every note has a term. It matures, we honor it, and capital is returned in full. Yet the story of the hotel — and of Avalon — continues far beyond that moment. This is how the arc naturally resolves.

Maturity

At term-end, investors receive repayment of principal and final yield. Clear, predictable, and contractual — the way a note should behave.

Refinancing or Buyout

Avalon may refinance, retire, or buy out the notes depending on what best serves the asset. Investors exit cleanly; Avalon continues the work.

Continuation

Some may choose to remain involved through a new note or structure, but only if it serves their horizon. No pressure. No reinvestment machine.

The hotel endures. The landscape widens. And Avalon continues its long-horizon work — one beautiful property at a time.
A clear ending · A long horizon · A growing constellation
Boutique Hospitality · Europe
Slide 9 · Begin the Conversation
Begin the Conversation

If this structure, this kind of hotel, and this way of working resonates with you, the next step is simple: a quiet, detailed conversation about fit, timing, and your horizon.

Email Chris View the deck again Review structure

If this is you

You value beauty, capital preservation, and clear structure — and prefer thoughtful, long-horizon work over quick exits.

What we’ll do

Share the specific opportunity, terms, risks and timelines; answer questions carefully; and determine whether alignment is real.

How it feels

Private, unrushed, precise. A conversation between people who care about what they are building and where they are going.

One hotel, one structure, one careful partnership at a time — that is how Avalon grows.
Private conversation · Thoughtful pace
Boutique Hospitality · Europe
Slide 10 · The People Behind Avalon
The People Behind Avalon

Avalon is shaped by two people who share a long-horizon view of beauty, stewardship and the quiet responsibility of building something meant to last. Their backgrounds are different, their disciplines complementary, and together they form the lens through which every hotel is chosen, improved, and cared for.

Chris Theodore

A builder of ideas and places. Decades in real estate, capital structure and storytelling. Focused on sourcing the right properties, designing clear deals, and developing hotels that combine financial sense with emotional resonance.

Dr. Sharon McCaffery

A physician trained in some of the world’s most exacting environments. Her precision, judgment and way of seeing shape Avalon’s standard of care, longevity and human experience — a quiet foundation beneath every decision we make.

Two perspectives, one horizon — creating hotels that feel both intentional and inevitable.
Beauty · Precision · Care
Boutique Hospitality · Europe
Slide 11 · Why This Matters Now
Why This Matters Now

Europe is entering a rare window: hospitality assets of real character are available, financing conditions favor clarity over complexity, and guests are seeking beauty, longevity and meaning in where they stay. Avalon sits exactly at that intersection.

The Cycle

A multi-year reset has created opportunities in boutique hotels that normally never come to market — especially in Portugal, Italy and Greece.

The Traveler

People are choosing places that feel restorative, intentional and human — hotels with a sense of presence rather than scale.

The Capital

Investors are seeking refuge from complexity: clear terms, real assets, and structures built for preservation as much as return.

When the market, the traveler and the capital cycle all align, the right work feels less like an opportunity — and more like something that simply needs to happen now.
A rare moment · A clear structure · This is Avalon