Las Vegas-based MJ Holdings, Inc. (OTCQB: MJNE), a diversified publicly traded holding company providing complete seed-to-sale services to the regulated cannabis industry, announces the launching of the first of its eight currently planned health and wellness cannabis-based hotels in partnership with well-known hotel developer Roger Bloss.
When Bloss launched the Americas Best Value Inn brand in 1999, it was the first hotel brand to place greater control back into the hands of its owners. With a voice and a vote in the direction of the brand, owners even voted on how much they would pay in marketing and franchise fees.
“You’re crazy!” most said. “It will never work – the market is saturated, and you'll have a mutiny on your hands," said others. But “No Fear” has always been Bloss' mantra, and under his leadership, the Americas Best Value Inn brand soon became the fastest growing hotel chain in the history of the lodging industry. Growing to over 1,100 properties in just 11 years, it was the 10th largest hotel chain in the world and its parent company, Vantage Hospitality Group, was a top 10 global hotel company and the only hotel company to ever be recognized eight consecutive years on the Inc. 500/5000 List of America’s Fastest-Growing Private Companies.
Today, Bloss is CEO & President of Alternative Hospitality, Inc., a division of MJ Holdings. He continues to disrupt the industry, but this time he has his sights set on greener pastures; specifically, the cannabis kind as he becomes the first hotelier to launch a portfolio of health and wellness cannabis-based hotels featuring a dispensary, wellness goods, and services to educate guests about the health-enhancing aspects of cannabis.
Alternative Hospitality’s first hotel will break ground later this year on the 150-room Coachill Inn Resort in Desert Hot Springs, California. Designed by famed architect, David Wallace, the resort features an amphitheater for entertainment and a lazy-river pool that taps into the area's natural hot springs.
“The Coachill Inn Resort will attract travelers who are looking for an experience and the opportunity to safely experiment," said Bloss. “People from all over the world come to the Coachella Valley for business, tourism and the famed Coachella and Stagecoach music festivals. And now they can learn about the health and wellness benefits of hemp, CBD and cannabis.”
To date, there are eight projects under consideration in states that have legalized marijuana, including three in Las Vegas, three in California, one in Michigan and one in Oklahoma. Each upper-midscale property will cost approximately $125,000 per key to build. Land costs are not included in the per key cost because Bloss and Alternative Hospitality have a unique development model that encourages joint ventures with existing landowners.
“Some people call me a disruptor – and I like that. I disrupted the franchise industry with a new franchise model that has become the standard for many brands, and now I’m going to be the first to bring together the hospitality and cannabis industries,” said Bloss.
Bloss and Alternative Hospitality will be at the major hospitality conferences, including AAHOA National Convention, April 23-27 in San Diego, CA at booth #1154; BITAC Operations 2019, April 28-30, in Miami, FL, where Bloss will be a featured speaker; and the Meet the Money: National Hotel Finance and Investment Conference, May 6-8, in Los Angeles, where Bloss will participate in the General Session: The Success, Evolution and Future of Boutique, Lifestyle, and Wellness in Hospitality on May 8 at 10:30 am.
For more information about Coachill Inn Resort, please visit CoachillInnResort.com.
About Coachill Inn
The Coachill Inn vision is to design a unique brand of upper-midscale hotels and resorts that feature 420-friendly wellness amenities, services, and lifestyles. The hotels will also offer education about the health-enhancing benefits of cannabis, hemp, and CBD. The first new construction resort in Desert Hot Springs, CA, will be part of the revolutionary Coachillin’ Canna‑Business Park offering a 420-travel experience.
About MJ Holdings, Inc.
MJ Holdings Inc. (OTCQB: MJNE) is a diversified, publicly-traded holding company providing cultivation, production management, and infrastructure development services. Our management operations currently include a three-acre, outdoor, marijuana cultivation facility in the Amargosa Valley of Nevada and a fully-licensed, indoor, agritourism facility located in the city of Las Vegas - known as the Highland Show-Grow. We also are active in identifying and acquiring revenue producing assets and licenses within legalized cannabis markets both nationally and internationally.
The information provided in this press release may include forward-looking statements relating to future events or the future financial performance of the Company. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as "anticipates," "plans," "expects," "intends," "will," "potential," "hope" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon current expectations of the Company and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties. Detailed information regarding factors that may cause actual results to differ materially from the results expressed or implied by statements in this press release relating to the Company may be found in the Company's periodic filings with the Securities and Exchange Commission, including the factors described in the sections entitled "Risk Factors", copies of which may be obtained from the SEC's website at www.sec.gov. The parties do not undertake any obligation to update forward-looking statements contained in this press release.
Renderings of the planned Coachill Inn Resort in Desert Hot Springs, CA are available upon request.
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