Chip and Joanna Gaines, stars of Home & Garden Television (HGTV) show Fixer Upper, are opening a boutique hotel in Texas.

Chip and Joanna Gaine
Chip and Joanna Gaine are opening a boutique hotel in downtown Waco ©Roy Rochlin/FilmMagic

Husband and wife design team, Chip and Joanna Gaines, are stretching their home renovation skills further into the hospitality industry by opening a new hotel in their hometown of Waco, Texas. Joanna announced the news on her social media channels and in a post on the Magnolia blog, informing fans that the couple would be opening the hotel downtown, just a few blocks from their insanely popular retail complex, Magnolia Market at the Silos (essentially a Disneyland for Fixer Upper fans).

The couple already operates a Magnolia House bed and breakfast in the town of McGregor, Texas and a rental home called Hillcrest Estate in the heart of Waco. As well as vacation properties, they have a coffee shop, restaurant and an online store that sells clothing, decor and more, among other projects.

The new hotel, which is slated to open in 2021, will be located inside the historic Grand Karem Shrine building, which was built in 1928. The Gaines will undertake an extensive historic restoration of the 53,000 sq ft property, keeping the building's grand ballroom and many of the current exterior details, including its iconic archway. Deadline reports that the hotel will feature a rooftop terrace, ground-floor restaurant and a café.

Shoppers outside the Magnolia Market at the Silos complex in Waco, Texa
The hotel will be located close to the Magnolia Market at the Silos complex in Waco, Texa©Ross Hailey/Fort Worth Star-Telegram/Tribune News Service via Getty

"It’s gonna be a big project, but we cannot wait to restore it back to its former glory. There’s so many details about this building that are gorgeous. If you’ve followed our work, you might notice a pattern — that time and time again, Chip and I are drawn to projects that emphasise the value of home," Joanna wrote on the Magnolia blog. "When a project like the one we’re announcing today comes along, and it bridges what we’re most passionate about — home, hospitality, and restoration — we can’t help but go all-in."

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