By: Ankush Tasildar
Jace Waters’ career path defies conventions. The Dallas native, known for his adaptability and keen business instincts, began his athletic journey at the age of five, and his talent and work ethic over the years earned him a full-ride scholarship to play Division 1 football at the U.S. Air Force Academy. Waters’ experience at the Academy further cemented his values of service, teamwork, resilience, and seizing opportunities. But his journey would take him from athletics to military logistics and ultimately to a sector where he’s making his mark: boutique motels.
A Foundation of Resilience and Strategic Insight
After earning his Bachelor of Science in Business Management, Jace joined the U.S. Air Force as a Logistics Readiness Officer, a role that taught him to manage complex operations and make high-stakes decisions—skills he would later bring to his real estate ventures. Encouraged by his younger brother and now business partner, Jett, he began exploring real estate while being stationed in Tampa, Florida. He quickly gained traction as a residential agent, closing several deals in his first months. But a career in residential real estate wasn’t to be; due to a “conflict of interest” policy within the Air Force, Waters was required to pivot. Rather than seeing this as a setback, Waters took it as an opportunity to explore a niche with untapped potential: boutique motels.
Revitalizing Forgotten Spaces with Purpose and Vision
For Waters, boutique motels offered more than just financial opportunity—they represented the chance to create something distinctive. “There’s something rewarding about breathing life back into these communities that I love,” Waters shares. “A lot of these motels are rundown, outdated,and have lost their way in the market. We come in, rehabilitate, and transform them into experiences guests remember.” Jace focuses on motels that might otherwise be overlooked: properties with history, potential, and in prime locations. His approach is as much about restoring charm as it is about raising rates and boosting profitability.
His process is straightforward yet refined. Jace typically acquires these distressed motels through careful leverage, allowing him to secure properties while preserving capital for renovations and enhancements. His goal is to elevate these motels’ appeal while tactfully minimizing operational costs. Through adding value he is able to raise both the occupancy and nightly rates, which significantly boosts the net operating income (NOI), therefore increasing the property’s valuation. “With motels, the NOI is everything. Improving it doesn’t just mean more income; it’s how you create real, lasting value,” he explains. Unbooked rooms can also serve as a write-off, allowing Waters to maintain cost efficiency even in fluctuating market conditions.
Creating Authentic Experiences that Resonate
Once rehabilitated, these motels reflect the unique local character of their locations. emphasizes creating spaces that resonate with guests on a personal level. “It’s not just about having a nice room; it’s about giving people a sense of place. We want guests to feel like they’re part of the community, not just passing through,” he says. To that end, Waters partners with local vendors, features regional artwork, and cultivates an atmosphere that speaks to the local culture. This approach not only increases guest satisfaction but also attracts return visitors, building loyalty in a way large hotel chains struggle to replicate.
A Strategic Approach to Growth and Scalability
With a strategic focus on NOI and cap rate, these motels achieve significant valuation gains after renovation and stabilization. This value creation model allows him to pull out equity through cash-out refinancing, which he then reinvests into the next property, building a scalable portfolio. “It’s about taking the momentum from one success and letting it fuel the next. Each project builds on the last,” he explains. Jace’s vision isn’t just about financial growth but about cultivating properties that become landmarks in their own right.
Building Relationships with Integrity
But Jace’s vision for boutique motels is more than a formula for profit—it’s a mission to create value that goes beyond the numbers. He approaches each deal with transparency, fostering partnerships that share in his commitment to excellence, service and purpose. This focus on authentic connection is evident in his investor relationships as well. “It’s not just about raising money; it’s about finding people who see the value in creating something meaningful. We’re not just making investments; we’re creating destinations,” Jace says.
The Road Ahead: Expanding with Purpose
As he continues to expand, Jace remains selective, focusing on properties that allow him to innovate within the boutique motel space without compromising quality. His disciplined approach is shaped by market insights and the changing demands of today’s travelers, who increasingly seek genuine, memorable experiences. With each property, Waters isn’t just transforming real estate; he’s redefining what it means to create lasting, impactful guest experiences.
In a world where the hotel industry often prioritizes volume over uniqueness, Jace Waters stands apart. His journey from football fields and military logistics to the world of boutique motels is a testament to adaptability, vision, and a commitment to meaningful work. Jace’s unique blend of strategy, creativity, and respect for place, makes it possible to build more than just profitable properties; he makes it possible to create experiences that linger long after checkout!
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Published by: Annie P.
