The Palms Place penthouse on the 59th floor above the Las Vegas lights
Investor overview · Las Vegas

Utopia Penthouse

Las Vegas's most exclusive wellness members club and private event venue, on the entire 59th floor of Palms Place.

Overview

Utopia will turn the full-floor penthouse atop Palms Place into Las Vegas's most exclusive wellness members club and private event venue. The space is ready to open as-is, and investor funds buy it outright, so the business is built on a hard asset.

Utopia earns from three directions: a small, high-value members club, premium private buyouts during Las Vegas's biggest weeks, and a set of brand, wellness and media revenue streams.

$500KMonthly membership revenue at capacity
$6MYearly membership revenue at capacity
27Members to cover all operating costs
The property

The entire 59th floor

The penthouse takes up the entire 59th floor of Palms Place, about 1.5 miles west of the Strip, with a private elevator, 360-degree views, more than 6,300 square feet inside, 4 king suites and a large wraparound terrace with a pool.

  • Proven demandThe penthouse already has a strong rental history with corporate and celebration events.
  • Ready to openFurnished and already listed for events, so Utopia launches with decor upgrades, not construction.
  • Location12 minutes from the Las Vegas Convention Center, home to CES and the city's largest trade shows.
Great room with floor-to-ceiling glass
Rooftop terrace and hot tub at sunset
Fire pit lounge on the terrace
The members club

Two membership levels

The Club

30 members · three tiers · $2,500 to $7,500 a month

Spa treatments, bio-optimization modalities, weekly member events and activations.

The Deal Makers

35 members · invitation only · $10,000 a month

Private dinners, deal flow sessions and masterminds held just for them.

MembersMonthlyYearly
The Club30$150,000$1,800,000
The Deal Makers35$350,000$4,200,000
At capacity65$500,000$6,000,000

Membership covers all operating costs with just 27 members, so everything above that is profit.

Private events and rentals

Premium rates in the biggest weeks

When members aren't using it, the penthouse is available for private rentals, brand activations and full buyouts. Demand peaks during Las Vegas's biggest weeks, when a private penthouse commands premium rates.

Marquee

The F1 Las Vegas Grand Prix

Top tier

CES, the major fight weekends, AWS re:Invent, the National Finals Rodeo and New Year's Eve

Strong

MAGIC, NAB, EDC, JCK, SEMA, Black Hat and DEF CON, March Madness and Raiders home games

Past rental pricing: the penthouse has rented for about $5,000 a night on weekdays and up to $25,000 a night on weekends. A New Year's Eve corporate party paid $40,000, and F1 week has been listed at $100,000 a night.

Additional revenue

Beyond membership

  1. Brand sponsorships
  2. Corporate wellness packages
  3. Ticketed events
  4. Retreats and masterminds
  5. Referral partnerships
  6. Utopia product line: 24K gold skincare, matcha and ritual kits
  7. Content and media, including a podcast recorded in the penthouse
  8. KYA KLUB nights and hospitality
The investment

Built on a hard asset

Amount
Penthouse purchase$20,000,000
Launch budget: closing, decor, wellness and bio-optimization equipment, sound system, podcast setup and working capitalabout $822,000
Totalabout $20.8M
Year one projection, base case
$3.85MRevenue
$1.9MNet operating income
Month 3Profitable from

All figures are estimates.

Leadership

The founders

Tamar Kaprielle

Tamar Kaprielle

"Kaprielle" · Co-Founder and Managing Partner

The visionary behind Utopia and founder of Kaprielle, a luxury healing skincare brand built on 24K gold and Moroccan rose rituals. She launched the world's first pure 24K gold mask, which went viral worldwide, and was named one of Maxim's "5 Rising Female Entrepreneurs to Watch Right Now." She leads Utopia's design, treatments and product line.

Maria Matarelli

Maria Matarelli

"KYA" · Co-Founder and Managing Partner

Founder and CEO of Formula Ink, an international consulting company that has advised Fortune 100 companies, billion-dollar organizations and startups reaching multi-million dollar valuations. Bestselling author of Workaholic: A 12-Step Guide to Having a Life, Getting Things Done and Personal Agility: Unlocking Purpose, Alignment and Transformation, international speaker, and international DJ and producer, KYA, who has played the Super Bowl pregame, the NHL playoffs, the F1 Grand Prix and Burning Man. She brings more than 10 years of hosting and producing events, from VIP villa gatherings and retreats in Bali to exclusive VIP events in Las Vegas as founder of the KYA KLUB.