CozySuites acquires Roami to expand US footprint

US: CozySuites has acquired Roami in a move that expands its presence into Miami and New Orleans, adding 20 buildings to its portfolio.

The acquisition strengthens CozySuites’ national footprint and supports its corporate and business-to-business sales strategy. Financial details were not disclosed.

Founded in 2017, CozySuites operates professionally managed accommodation across 10 US cities, including Dallas, Phoenix, Atlantic City and Nashville.

Roami, founded in 2016 and formerly known as Sextant Stays, operates buildings designed to combine the service standards of hotels with the space and value of short-term rentals.

CozySuites said the Roami brand and booking platform will continue to operate following the acquisition. Staff at Roami properties will remain, while Roami founder and chief executive Andreas King Geovanis will join CozySuites as an adviser.

Victor Chen, co-chief executive of CozySuites, said adding properties in Miami and New Orleans made the acquisition a strategic fit and would support the company’s plans to expand further across the United States.

King-Geovanis said interest from potential buyers had been strong, adding that Roami’s brand and properties were well positioned to continue growing under CozySuites’ ownership.

Highlights:

CozySuites has acquired Roami to strengthen its US presence.

The Roami brand and booking platform will continue to operate after the acquisition.

Roami staff will remain in place, while founder and CEO Andreas King Geovanis will join CozySuites as an adviser.