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US: Serviced accommodation provider CozySuites has acquired property management company Roami (formerly Sextant Stays), expanding its footprint in Miami and New Orleans.
Roami operates a total of 20 buildings in Miami and New Orleans. The upscale apartments add to CozySuites’ 30 properties nationwide in markets such as Dallas, Phoenix and Nashville.
The Roami brand will be retained as it integrates with CozySuites’ corporate sales platform. Staff will also remain in employment at Roami’s properties, and the company’s founder Andreas King-Geovanis will become an advisor to CozySuites.
King-Geovanis said: “Much to our delight, the bidding process to acquire Roami was quite competitive which is a testament to the brand we built, the team we assembled and the mission we set out to accomplish. Our properties and our brand are in good hands with the CozySuites team and I’m excited to help them with the integration over the coming months.”
CozySuites co-CEO Victor Chen added: “The opportunity to add properties in Miami and New Orleans to the CozySuites offering is what made acquiring Roami an easy decision. Andreas and his team have built an amazing brand and a world-class guest experience that mirrors our mission and has made the transition and integration very smooth for all. We see this acquisition as an initial stepping stone to further scaling CozySuites across the United States.”
Highlights:
- CozySuites has acquired Roami, adding the former’s 20 properties in Miami and New Orleans to its portfolio.
- The Roami brand and its staff will be retained, with founder Andreas King Geovanis transitioning to an advisory role for CozySuites.
- Geovanis noted the competitive bidding process for Roami reflected the brand and team value, and expressed confidence in the integration process.
- CozySuites co-chief executive Victor Chen stated the acquisition adds upscale apartment offerings in key Florida and Louisiana markets and serves as an initial step toward further scaling the company across the United States.
