John Derry

Kelowna, BC (CAN)
Role(s):
Founder/Owner/Principal

A Home Away Retreat Inc.

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Location: Kelowna
Industry: Healthcare
Year Founded: 2004
Number Employees: 10-50 people
Business Stage: Growth (profitable)
Entity Type: Limited Liability Company
Description: A Home Away at The Aerie: Taking Sober Living to the Next Step In 2004, John Derry set a vision of creating an innovative approach to helping people affected by addiction. He purchased a bed and breakfast located at 2761 Lakeridge Road, Kelowna, British Columbia. The building was in rough shape with decrepit wooden shingles and aged paint. With a lot of hard work and the discipline of budgeting for a new roof, exterior paint, immense landscaping, and extensive renovations, John was able to transform this bed and breakfast into a world-class, luxury addiction recovery retreat for up to 8 concurrent guests. Over the past 6 years A Home Away Retreat has grown both in revenue and in physical size. John and Jane purchased the 3 adjacent properties and began to expand their dream and vision to develop a larger, more encompassing retreat experience. A Home Away began to integrate the 4 properties, referred to as The Lakeridge Estate, into the business through landscaping and plans for expanded program experiences for the guests. The transformation has been nothing less than amazing and, coupled with the extraordinary views of the Okanagan Lake, The Lakeridge Estate is simply breathtaking. However, the physical size, 2.1 acres, and accommodation for a maximum of 8 guests, plus the residential zoning of the properties, limit what A Home Away can accomplish as a business. As such, John and Jane looked for expansion opportunities that would facilitate both the organic growth of A Home Away and their own aspirations of further development of the successful resort-like concept. On September 28th, 2010 Glover-Drennan Inc, the receiver of the Aerie Resort, accepted John and Jane’s offer, subject to financing, to purchase this 85-acre, 35-room, luxury resort and spa located just 20 minutes north of Victoria, on the coast of Vancouver Island. The Aerie is a mountaintop luxury hotel resort situated in an area of outstanding natural beauty. The business is no longer in operation having officially closed its doors in November 2009. It previously offered 5-star accommodation and a full luxury experience complete with fine dining, in-house spa, helicopter pad, tennis courts, and more. For years before its closure, the Aerie was a staple on the Conde Nast and Travel & Leisure magazines’ “Best Of” lists. However, rife with conflict, a bitter divorce, and low staff morale, it was poor management skills and even worse decision making abilities that brought the Aerie into receivership. What is attractive about the Aerie is that the receiver general has forced the sale of it, which creates a great opportunity for A Home Away to take advantage of a reduced price. Moreover, the current economic crisis has caused a risk-averse market with a drought in capital, especially for real estate development firms that would have otherwise taken advantage of this sale price. The time to act is now. Before the demise of the management and business, The Aerie enjoyed a world-class reputation as a luxury resort for several years that still has a very strong internet presence. This presents a tremendous opportunity to leverage this stellar reputation and brand to further enhance the visibility and profile of A Home Away. In addition to compelling business incentives, the Aerie holds a particular sentiment to John and Jane as this is where they chose to be married just over two years ago! It is clear to them, supported by rigorously sound business analysis, that moving A Home Away to the Aeire is the next step in further realization of the vision. We are seeking equity or mezzanine financing to bridge finance. Please call Richard Tuck at (Phone # removed). Visit our website at (URL removed). Thank you.