AI Innovation Strategy · Series II · Confidential
Three innovations.
Three innovations.
One platform.
The real estate creates the guests. The guests generate the data. The data trains the AI. The AI turns every guest into an annuity — and lifts platform EV from €430M to €580–685M.
Innovation 01
€4–13M/yr
Pharma licensing income + strategic exit €50–250M
Innovation 02
€4–7M/yr
Savings from a lower cost of capital — pure profit
Innovation 03
€9M+/yr
SaaS subscriptions + additional stays, 96% gross margin
EV uplift (AI)
+€150M
Additional valuation from the three AI layers
Innovation 01 · Data · Pharma · Double Exit
The longevity
The longevity
data asset.
Every guest who passes through an ETERRA clinic generates longitudinal health data over years. Aggregated across 10–15 sites, it becomes one of Europe's most valuable clinical datasets — at zero additional capex.
Pharmaceutical companies, biotechs and insurers already pay hundreds of millions for datasets like this: affluent adults with a preventive focus, consistent methodology, years of follow-up. ETERRA owns the real estate that serves as the acquisition channel. The data asset builds up as a by-product — and can be sold independently of the property portfolio.
i
Arrival & diagnostics
Full biomarker panel. Genetic markers. History. The AI builds a personalised biological model of the guest.
ii
During the stay
Daily biomarker readings. Protocol-response tracking. AI-guided adjustments in real time.
iii
Between stays
AI-companion data stream. Wearables. Lab results. Continuous model refinement over months.
iv
Longitudinal dataset
Anonymised · aggregated · 10–15 European sites · years of follow-up · scientifically usable
→ Pharma
Pharma company
€50–200M
Per dataset licence · clinical validation
Annual licence
€4–13M
From year 5 · biotech + insurers + research
Strategic exit
€50–250M
One-time data sale · independent of real estate
Additional capex
€0
Data arises as a by-product of operations
Why investors love it
ETERRA gets paid twice: when it sells the real estate — and when it sells the data. Two separate exit channels. Two entirely different buyer groups.
Innovation 02 · Institutional Capital · WACC Reduction
AI-driven NOI forecasting
AI-driven NOI forecasting
→ a rated financial product.
The biggest problem with wellness real estate is the predictability of rental income. AI solves it — turning "hotel risk" into a rated longevity-income certificate that pension funds and insurers can buy.
An AI model computes a probability distribution of future rental income from comparables, booking patterns and market data — with transparent confidence intervals. The forecast is auditable, back-testable and can be assessed by rating agencies. Pension funds, insurers and sovereign funds that today cannot invest because of their mandates suddenly become accessible.
AI model · NOI probability distribution · Mallorca · 10,000 Monte-Carlo simulations
Bear (€7M)
5%
Low (€8M)
15%
Base (€10M) ★
55%
High (€13M)
20%
Bull (€16M)
5%
Without AI rating
✗ Pension funds
✗ Insurers
✗ Sovereign funds
Only family offices & PE accessible
With AI rating
✓ Pension funds
✓ Insurers
✓ Sovereign funds
Trillions in new capital unlocked
Without AI rating
8–10%
Cost of capital · family offices and private equity
With AI rating
5–6%
Institutional infrastructure-debt rate
Saving p.a.
€4–7M
On €150M of debt — pure earnings gain from year 1
WACC model
8.5%
Ke 10.83% @ 65% + Kd 4.5% @ 35% — applied in the DCF
Why investors love it
You stop competing for the same family-office capital. You unlock trillions in institutional capital that has systematically excluded this asset class.
Innovation 03 · Smart Devices · Active Rebooking · SaaS
The AI longevity
The AI longevity
companion.
The AI never sleeps. It watches daily — and when something is off, it sends the guest back. The guest doesn't decide when to come. The AI decides for them.
After every stay, the guest is continuously monitored through smart devices and wearables: sleep, heart-rate variability, cortisol, blood glucose, inflammation markers. The personalised AI model knows the guest's baseline from their stay — and detects immediately when something drifts. If stress rises over weeks, sleep deteriorates, early signs of inflammation appear — the AI flags it, and recommends the next stay precisely. The guest doesn't come once a year to relax. They come three times — because their own data demands it.
i
Smart devices measure daily
Wearables, sleep trackers, continuous glucose monitoring, heart-rate variability, blood-pressure cuff — all feeding the AI model in real time.
ii
The AI detects the drift
The model compares daily against the personal baseline from the last stay. Poor sleep over 14 days. Cortisol elevated. HRV below threshold. The AI registers it instantly.
iii
The AI recommends the next stay
Not a generic notification — a personalised recommendation: "Your stress markers signal that a 5-day regeneration protocol would be optimal now. Mallorca has availability in three weeks."
iv
The guest books — because their own data says so
The guest trusts the model because it knows them better than they know themselves. They don't come out of habit. They come because the AI identified the right moment.
→ NOI
—
Without the AI companion: a guest comes on average 1× per year — on their own initiative, when planning a holiday.
—
With the AI companion: a guest comes 2–3× per year — because their data recommends a stay they trust.
—
Each additional stay per 100 subscribers = directly additional NOI for ETERRA — without acquiring a single new guest.
—
€200–500 per subscriber per month for the AI companion service — at near-zero marginal cost and 96% gross margin.
—
Data history, protocol history and the personalised model stay with ETERRA — switching provider means starting from zero. No guest does that.
Visits without AI
1×/yr
Industry standard · the guest decides when to come
Visits with AI
2–3×/yr
Data-driven · the AI identifies the right moment
NOI multiplier
2–3×
Same guest. Same beds. Double to triple the NOI.
Total impact
€19M+/yr
SaaS €5.4M + visit-doubling €13.6M at 1,500 subscribers
The AI is an active sales channel
No other wellness resort has an automated, data-driven channel that actively brings guests back at the right moment. ETERRA needs no marketing for repeat visits — the model handles it.
Biological data lock-in
Years of longitudinal biomarker data are not transferable. Switching provider means losing your entire health history and starting from zero. No guest will.
Personalisation that deepens daily
The AI model improves with every data point. After three years a guest has a far more precise picture of their own health than they could ever have without ETERRA. That is the real lock-in.
The decisive insight
The guest doesn't decide when to come. Their own data decides. ETERRA earns from a guest not once a year — but two to three times. Same beds. No added cost.
All three layers · Valuation uplift · 2030
When all three run,
When all three run,
ETERRA is no longer
a real-estate company.
The real estate creates the guests. The guests generate the data. The data trains the AI. The AI makes rental income ratable, locks every guest in as a subscription, and enables a data sale at exit. The loop runs continuously.
| Valuation component | Amount |
|---|---|
| Base platform EV (without AI) | ~€430M |
| + AI companion SaaS premium (5× ARR) | +€60–95M |
| + Data asset capitalised | +€40–80M |
| + Lower cost of capital (capitalised at 8.5%) | +€50–80M |
| Expanded platform EV with AI | €580–685M |
Entry · 2026
€100–120M
Pre-money · AI layers not yet priced in
Target EV · 2030
€580–685M
Base platform plus all three AI innovations
Money multiple
4.8–5.7×
Implied · 4-year hold · before RAIF carry
AI investment
~€1.5M
Over 3 years · under 0.5% of platform capex
The key message
You buy real estate at real-estate multiples — and get the AI platform for free. Today's entry price prices in neither the data asset, nor the SaaS companion, nor the lower cost of capital.
Direct · Confidential · By Invitation
The conversation.
SB
WM
The conversation.
One email.
Forty-five minutes by call or in person. A mutual NDA enables the data room. Site visit to Mallorca optional. No pitch.
SB
Founder & Chairman
Sven Bading
ETERRA AG · Steinhausen, Switzerland
sven@eterra.ch
+49 151 6156 6664
WM
CIO & CAIO
Wencke Mühlenberg
ETERRA AG · Steinhausen, Switzerland
wencke@eterra.ch
+49 176 4389 6696
Website
Office
ETERRA AG · Sumpfstrasse 15 · CH-6312 Steinhausen · Switzerland