USA: Blueground has announced the acquisition of Denver-based housing provider, Travelers Haven.
The two together will employ over 1,200 people and is expected to reach over $600 million in revenue in 2023. The acquisition will also bring in more housing options in multiple locations for corporate clients in the US and will also grow Blueground’s client base. The two companies will continue operating as separate entities, with plans to fully integrate in the future.
Currently, 35 per cent of Blueground’s revenue is from Blueground for Business, which is estimated to go up to 50 per cent with the addition of Travelers Haven’s revenue in 2023. The company was co-founded 10 years ago by CEO Alex Chatzieleftheriou, who wanted to create a homey experience for travellers. He said: “When I set out to create Blueground, my goal was to offer a simple way for people to move freely between neighborhoods, cities, and countries around the world, while providing high quality service, so they can explore easier and more efficiently. We have deep admiration for the Travelers Haven team and what they’ve built over the last 15 years. I am excited about this next chapter together to provide turnkey, tech-enabled homes both on-demand and readily available at a global level.”
Travelers Haven, founded by Elia Wallen in 2008, provides stays that are specific to the clients’ needs and location, length of stay and budgetary requirements. In 2022, the company crossed $100 million in revenue by providing more than 10,000 people with rentals by sourcing apartments on an on-demand basis and a virtual inventory of more than 2,700 apartments, across the US.
Carlos Abisambra, the president and CEO of Travelers Haven, said: “We’re proud of Travelers Haven’s success over the last 15 years, as we’ve bridged the workforce housing gap and created a niche in the market with flexible rentals on-demand. Travelers Haven and Blueground have the same goals and vision for the future of housing, and we’re ready for this next chapter to bring the on-demand category to a global audience.”
