Chip Gaines and Joanna Gaines' empire just got a whole lot bigger.

Home improvement's favorite couple announced their next project on Thursday, and it's a doozy: a hotel in Waco, Texas. Yes, you read that correctly. Chip and Joanna Gaines are opening a hotel.

The new apple of the couples' eye is the 53,000 square-foot Grand Karem Shrine building, located just a hop, skip and a jump away from another one of their Waco business endeavors, the Magnolia Market. Built in 1928, the couple purchased the sprawling property in 2018 and have their eyes set on a 2021 grand opening.

By all intents and purposes, this hotel sounds like the tourist attraction of Fixer Upper fans' dreams.

"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," the couple said in a press release. "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," they continued, "and that every guest who comes to stay would experience that same sense of belonging and community."

The hotel is going to feature a grand ballroom (which, luckily for the couple, already exists in the building—it just needs a little bit of that famous Gaines TLC), a ground-floor restaurant, a rooftop terrace and café, as well as three stories-worth of rooms to accommodate their guests. The above photo is a rendering of what the finished product will look like.

Of course, the so-far-unnamed hotel will showcase Joanna's interior design expertise.

Friendly reminder that Chip and Joanna Gaines already own a home goods store, a restaurant, a bakery, and they're launching their own TV network. Oh, and they have five children. Why not add a hotel to the list? They're not busy!

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