Pack Your Bags Because Chip & Joanna Gaines Are Opening A New Hotel

It's an exciting time for fans of the Gaineses and their incredible community of businesses in Waco, Texas. That's because Chip and Joanna Gaines' next project will transform a historic building into a new boutique hotel. The couple announced the endeavor Oct. 3, revealing the doors of their venture will open sooner than you might think.

Although Chip and Joanna are no longer on Fixer Upper, it doesn't mean they're taking a break from entrepreneurship. In fact, that couldn't be farther from the truth — not only did Joanna recently opened up Magnolia coffee in downtown Waco, but Chip is busy managing Magnolia Table, a restaurant specializing in "fresh, homegrown ingredients and good, old-fashioned cooking," according to Magnolia's website.

As for their latest venture? The duo revealed their plans to renovate a "historic building in downtown Waco, just a few blocks from Magnolia Market at the Silos" into a boutique hotel.

"We are, without a doubt, firm believers that home is the most important place on earth," Joanna said in the announcement. "But we’ve also learned that home can be found beyond a physical dwelling. It encompasses more than the place where our mail is delivered. Home is a feeling, created by and for the people you love and share your life with; it’s a state of being known and loved just as you are."

She continued, "That is our dream for this hotel—that it would serve as an extension of the way we feel about our own home and all it represents to us, and that every guest who comes to stay would experience that same sense of belonging and community."

The husband-wife team also revealed renovations will start this fall, with an expected open date of sometime in 2021. And it sounds like the duo have their work cut out for them, as the building is 100 years old.

"When we first toured the nearly one-hundred-year-old building—which is nearly 53,000 square feet!—we were amazed by the unique architecture and how much of it was still intact," Joanna said about the space. "Instantly, we knew we wanted to be a part of making this place sing again."

Sounds gorgeous. And I'm confident that if anyone can tackle this project, it's these two.

In terms of fan reactions, people are over-the-moon, with many sharing their excitement in the comments section of Chip and Joanna's video announcement.

"Of course, you're going to do a hotel!" someone said. "You're the same ole goofy couple with those wonderful industrious brains on your shoulders. Amazing that you've been able to build your business in your home town, all this time, and still are. Congratulations on the new adventure."

Another person commented: "Very very exciting!!!!!!!!!! I know where I’ll be staying when in Waco!"

"Book me a room I want to be one of the first to stay there," one person penned. "That will be a dream come true. Love y'all."

I don't know about you guys, but I can't wait for Chip and Joanna's new hotel to open. Waco, here I come!