Executive Summary  ·  Confidential
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The Line - golden-hour infinity pool with the ocean on the horizon, daybeds and frangipani in the Seseh-Munggu corridor, Bali
The Line
Seseh · Bali  ·  Executive Summary  ·  Accredited Investors Only

A members club
is the asset.

The Exit Is Priced
~16×Soho House, Jan 2026
Underwritten At
12×The Line base case
Base MOIC
~4.3×7-yr hold · ~29% IRR
The Raise
$8.0MFor ~30% of the HoldCo
$250K minimum ticket · 8% cumulative preferred · one round, no follow-on · first close on land control and clean title
The gap is the return
The Line - cinematic performance training hall with a sprint track, board-formed concrete columns and dramatic light shafts
Vertical 01 / 05

Performance training.

A sprint track under shafts of light. The programming members structure their week around: the engine of retention.

The Line - vaulted brutalist-tropical bathhouse with cathedral concrete arches, a turquoise lap pool and warm lantern light
Vertical 02 / 05

Bathhouse & recovery.

Cathedral arches over still water. A recovery ritual that members return to daily, and that compounds into recurring revenue.

The Thesis

Recurring membership revenue compounds like an operating business, and exits at one.

Not a hotel multiple. An operating-business multiple. The residences make the build self-funding; the club makes the return; the platform makes it scale.

01 · The Build
Residences recapitalize it
18 members-only residences (~$23M gross pre-sales at ~$4,460/m²) fund the residence build and backfill. The $8M equity buys the club, owned free of construction risk.
02 · The Return
The club is the asset
Club EBITDA ~$4.5M at stabilization (Year 5) on ~$11.3M revenue, ~40% margin. Profitable from Year 1. It exits at an operating-business multiple.
03 · The Scale
Bali is site one
A Singapore master HoldCo owns the brand, IP and digital membership. Bali investors hold co-invest priority on future markets: Chiang Mai, Hong Kong, Tokyo, Lisbon, Tulum.
The Experience

Five verticals.
One membership.

An integrated club, not an amenity stack. Each vertical is a reason to come in, and a reason to stay. Capped at 1,500 members, never more.

The Line - performance training hall with a sprint track and board-formed concrete columns under dramatic light The Line - vaulted bathhouse with cathedral concrete arches over a turquoise lap pool in warm lantern light The Line - speakeasy listening bar with green velvet booths, a vinyl-record wall and brass detailing The Line - lounge and culture hall with a raw timber ceiling, floor-to-ceiling glass and warm seating The Line - rooftop infinity pool with the ocean on the horizon, daybeds and frangipani
Vertical 01 / 05
Training
A performance hall and sprint track under dramatic light. Programming members build their week around.
1,500
Members · capped
~40%
Club EBITDA margin
~11-20×
LTV : CAC
<6 mo
CAC payback
~295
Members to breakeven
The Line - greyscale 3D architectural massing study of the campus, bisected by a bold diagonal
The Residences

Eighteen.
No more.

Members-only residences in a separate building on the same campus. Pre-sales recapitalize the build; residence hospitality adds to stabilized EBITDA. Capped by design.

  • 18
    Members-only residences
  • ~$4,460/m²
    Pre-sale pricing
  • ~$23M pre-sales
    Recapitalize the build; the $8M equity buys the club
  • +~$1.2M
    Year-5 residence-hospitality EBITDA
The Line - greyscale 3D architectural massing study
The Arbitrage

The market pays 16×.
We underwrite 12×.

Soho House was taken private in January 2026 at ~16× EBITDA ($2.7B, MCR/Apollo), the members-club exit reference. The Line base case is deliberately underwritten at 12×.

That four-turn discount is the margin of safety. It is also the upside: ~$68M operating EV at exit, before any re-rate toward the comp.
Capped by Design

Scarcity is structural.

The asset base cannot dilute. Three numbers are fixed in the model and the membership rules alike.

Capped
1,500
Members · Maximum
Total club capacity. Never more.
Capped
40
Founders Reserve Seats
$25,000 join · $1,250 monthly.
Capped
18
Residences
Members-only. One building. Never more.
The Line - golden-hour infinity pool with the ocean on the horizon, Seseh-Munggu corridor, Bali
The Headline

$8.0M for ~30% of the platform at site one.

~$4.5M
Club EBITDA Y5
+
~$1.2M
Residence hospitality
=
~$5.7M
Operating EBITDA Y5
×12
~$68M
Operating EV · Y7
$8.0M
The Raise
For ~30% of the HoldCo. Single round, no follow-on.
~4.3×
Base MOIC
~29% IRR, 7-yr hold, pre-tax. ~25-26% net of structure. Capital back during 2031, Year 5.
~$4.5M
Club EBITDA · Y5
On ~$11.3M revenue, ~40% margin. Profitable from Year 1.
~$68M
Operating EV · Y7
Club + residence hospitality at a 12× multiple, base.
~$18.7M pre
~$26.7M post-money
8% preferred
Cumulative, ahead of founders
$250K min
Accredited investors only
2.8-5.9×
Full case range
The Line - greyscale 3D architectural massing study of the campus
The Platform · Bali Is Site One

Not a building.
A category, built to be repeated.

A Singapore master HoldCo owns the brand, the IP and the digital membership. Bali investors hold co-invest priority on every market that follows. The first node proves the model; the platform compounds it.

Bali · Site One Chiang Mai Hong Kong Tokyo Lisbon Tulum
The Deeper Read

Everything behind the headline.

Each document below opens the full case: the model, the evidence, and the experience members buy. Start with the one-pager.

Numbers at a Glance
Financial One-Pager
Round terms, the club's stabilized economics, residence financing, operating exit value and base-case returns. The natural leave-behind.
Open One-Pager
The Model
Detailed Financials
The model behind the headlines: use of proceeds, LTV/CAC, the club valuation build-up, the cross-border waterfall, scenarios and the risk register.
Open Walkthrough
The Evidence
Research & Evidence
A fourteen-section evidence base: the Bali visitor economy, the Seseh corridor, the competitive set, demand, pricing comps and valuation benchmarks.
Open Report
The Hub
Full Investor Portal
Every document, in one place. The complete confidential package for the named recipient.
Open Portal
The Deck
Pitch Deck
The full investor deck: the thesis, the market, the raise, club unit economics, terms, the returns matrix and the team.
Open Deck
Source of Record
Strategy
The integrated strategy and the source document for the package: the club as asset, the residences, the platform and the risk register.
Open Strategy
The People
Founders & Advisors
The founder and operating leadership across F&B, culinary, creative direction and club operations, plus the advisors on hospitality and capital structure.
Open Team
Next Step

Speak with the founder.

One round, two closings: first close on land control and clean title, final close December 15, 2026 at a pre-money step-up. There is no follow-on. For the data room and a working session on the numbers, reach Ian Chadsey directly.

Schedule a Call ianchadsey@thelinebali.com +1 347 301 3146

Honest caveat. The 40-are site is a forward acquisition (LOI to be initiated), not yet secured; figures are management estimates pending a detailed monthly cash-flow model. Confidential and intended solely for the named recipient.