EDITOR'S COMMENT
• We're counting down the days until we reveal our 2024 predictions next week, and further consolidation across travel, hospitality and real estate looks inevitable. Now that digital hospitality platform NUMA has bought Dutch serviced apartment operator YAYS, it too will be a company to watch on the acquisition front in the year ahead.
Fuelled by a €55.5 million Series C raise, NUMA is taking its total portfolio to more than 5,200 units and it already manages over €1.5 billion in real estate assets. The investment and acquisition will enable the company to accelerate its growth strategy and target hotel and commercial properties in urban locations across Europe, as NUMA chief revenue officer Nick Abrahams discussed at the recent STRz Summit.
In an increasingly crowded space where more operators are straddling the short- and extended-stay segments, NUMA believes it can flourish at the expense of traditional hotel chains that fail to adapt to new consumer behaviours due to inadequate tech offerings and short-term rental platforms that are facing tightening city regulations across the continent.
While STRs and serviced apartments were once very distinct segments, the two are now converging and accommodation availability is expanding. Corporate accommodation booking agent Situ's purchase of rental software company Rentivo's tech stack reflects this - one wonders if we will soon see a major STR player buy a serviced apartment operator?
• The entries period for our 2024 Shortyz Awards is now open! Submit your no-cost nominations in as many of the 20 categories as you wish - including our new Team of the Year Award - by Monday 4 March at our dedicated platform here. Stay tuned for more news on our social channels and click here for the overview of the categories and their criteria.
• Make sure to register for my favourite STRz webinar next 12 December as I get the crystal ball out to reveal my top predictions for the STR space in 2024. Contributors are already confirmed from Unplugged, I-PRAC and Abode Worldwide - sign up for free now at this link.
Scroll down for the latest industry news.
• Please click here if you have a story you want us to tell the industry, or would like to be considered for a feature, podcast or webinar.
For more information and sponsorship / creative solutions advice, contact us at info@internationalhospitality.media.
