US: Flexible living operator Mint House has acquired residential hospitality company Locale.
The transaction includes both cash and stock with Mint House investors supporting the deal through the investment of additional capital.
Locale’s properties will be rebranded and integrated into Mint House’s portfolio, bringing the company to a total of 22 properties in 13 US markets.
As a result of the acquisition, Mint House will expand into new markets such as California, Wisconsin and Arizona, as well as extend its footprint in cities such as Dallas, Fort Worth, Nashville, and DC.
All Locale employees will also join Mint House as part of the transaction.
Nitesh Gandhi, founder and CEO of Locale, said: “From day one, our mission at Locale was to provide exceptional, tech-driven stays in premium multifamily and apart-hotel properties. Mint House shares that same high standard and I’m thrilled to join as a senior advisor to help drive growth and deepen our category leadership.”
Christian Lee, CEO of Mint House, said: “The alternative lodging sector is at an inflection point and as we kick off 2025 we see this as a timely and strategic opportunity to scale. Locale shares Mint House’s focus on a premium hospitality offering in high-end multifamily properties. This combination will leverage the strengths of both companies to drive greater scale, efficiency, and an enhanced offering for all guests. It also positions us as the premier partner for multifamily developers looking to maximise building profitability.”
Mint House recently revealed the launch of its fourth location in Nashville at Marathon Village and will open its first site in Washington DC in spring this year.
