Furnished apartment rental provider Blueground has acquired Denver-based short-term housing service Travelers Haven, the company announced Thursday. Financial terms were not disclosed.
The acquisition adds “flexible rentals on demand” throughout the U.S. to Blueground’s current portfolio of 11 U.S. and 19 international cities, according to the company.
The deal will add housing options “for corporate clients in the U.S.” while “growing Blueground’s corporate client base,” according to the company. The acquired properties will be added to the company’s Blueground for Business offerings—Blueground’s corporate service, which currently generates 35 percent of the company’s revenue.
“This figure climbs to 50 percent for the group with the addition of Travelers Haven’s revenue, and plans to double in amounts in 2023,” according to Blueground.
Once combined, the organization will employ more than 1,200 people and is “expected to reach over $600 million in revenue in 2023,” according to Blueground. In the meantime, Blueground and Travelers Haven will continue to operate individually with plans to merge tech platforms and service offering “in the future.”
The news follows Blueground’s deal to acquire Brazilian real-estate startup Tabas, announced in December, and acts on Blueground co-founder and CEO Alex Chatzieleftheriou’s play for the corporate market.
