Investor Letter · May 2026
VIVLA

The margin is in the bits.
The moat is in the atoms

A man looking out from a terrace at sunset

Most real estate companies are capital-intensive and operationally manual. VIVLA started the same way — but is heading somewhere fundamentally different.

These first years, we focused on building the hardest thing: the physical model. Because the moat is in the atoms.

Physical property is not the cost of the model — it is the competitive advantage. Real assets, real title deeds, and the daily reality of 400+ families who already live the experience. That cannot be replicated without years of friction.

But now we see something bigger: the margin is in the bits.

Real estate operations have always been a ceiling — expensive, hard to scale, and hostage to human bandwidth. That ceiling is about to disappear. AI lets us manage every home with a level of efficiency, proactivity, and intelligence that wasn't possible two years ago. It lets us deliver an owner experience — personal, fast, professional — that simply doesn't exist anywhere in Real Estate or Travel today. And it lets us transform second homes into liquid financial assets. We're not improving a broken process. We're replacing it.

We're not chasing a unicorn. We're building a camel. Profitable early. Resilient by design. Built to last beyond any VC cycle.

When the hype fades and the market consolidates, we'll be the one still standing — and winning.

A view of the sea through a wooden window frame

VIVLA is AI-resilient by design. People will always want a second home — no algorithm changes that. But AI is what turns a capital-intensive, operationally complex business into one that scales to infinity with compounding margins. The moat protects us. The bits make us profitable at scale.

The European second home market holds hundreds of billions in assets that are today illiquid, disconnected, and manually managed. VIVLA is building the infrastructure that transforms them. AI is the core — agents that manage the owner experience, anticipate needs, and coordinate operations without human friction. A property that manages itself. IoT extends the power of AI into the physical asset — sensors and connectivity that feed real-world data into our intelligence layer. Real usage, asset health, energy efficiency, continuously improving decisions and reducing cost.

We're talking about the present, not the future. In the last 12 months our CTO has created a dedicated AI team of five, the entire product and tech team has transitioned to AI-native ways of working, and our data infrastructure is AI-ready. We have three agents already running in production, which in three months have generated measurable impact across our go-to-market operations. This is not a roadmap. It's already happening.

AI opens a door we haven't been able to unlock until now. Today, turning a home into a VIVLA property requires buying the asset. Tomorrow, AI lets us extend the full VIVLA experience — a branded residence, superior customer experience, smart digital property management, and financial peace of mind — to any home. Instantly. Without ownership. From an asset-heavy operator to a platform that scales without capital constraints. That is the long-term prize. VIVLA is built into proptech — smarter, more patient, and looking for exactly what VIVLA has built: real assets, proven operations, and a technology layer that compounds over time.

In ten years, people will still want to drink a mojito by their pool and fire up the chimney after a long day of skiing. No technology changes that. What changes is how they access it, how it's managed, and who can afford it. VIVLA will be there — having turned a niche into the mainstream and the only viable vacation ownership model for a new generation of owners.

Because we are not trendy. We are permanent.

Carlos Gomez
Founder & CEO, VIVLA
Patient. Profitable. Permanent.
VIVLA
Investor Letter · May 2026© VIVLA