US / Japan: Furnished flexible rental operator Blueground has entered into its first-ever franchise agreement with Mitsubishi Estate Co., Ltd. to establish its brand in Japan.
The franchise agreement is seen as integral to Blueground’s new strategic partnership model, aimed at broadening the company’s presence beyond its existing portfolio of 15,000 apartments in 32 cities. Real estate developer Mitsubishi Estate will develop an extensive network of 13,000 furnished apartments across major cities in Japan.
Founded in 2013, Blueground claims to operate the largest curated global network of furnished rentals for 30-plus day stays for individuals and corporate clients alike. By collaborating with Mitsubishi Estate, the two companies aim to redefine the future of living and provide tailored accommodation solutions to meet the evolving needs of global citizens.
Christos Misailidis, CSO and chief strategic partnerships officer at Blueground, said: “We are excited to bring Blueground to Japan in collaboration with such a reputable partner. Mitsubishi Estate’s unparalleled understanding of the Japanese market combined with our innovative technology and expertise in flexible stays guarantees the success of this new project.
“We believe that, together with Mitsubishi Estate, we will set new standards for furnished, medium- to long-term stays in Japan, offering a unique and unmatched living experience to guests,” he added.
Hirofumi Kato, executive officer of Mitsubishi Estate Co., Ltd., said: “We are delighted to announce the signing of a licensing agreement with Blueground. Leveraging the expertise and resources of Blueground and the Mitsubishi Estate Group, we are excited to offer exceptional experiences to guests from around the world in Tokyo and across Japan.”
In preparation for the market launch in Japan, Blueground is providing Mitsubishi Estate with a turnkey toolkit developed and perfected over the last decade. Mitsubishi Estate will gain access to Blueground’s proprietary technology, including operating systems, a dynamic pricing model, and guest app.
In the transitional period, Blueground said that it had established a dedicated implementation team which will be providing ongoing support to Mitsubishi Estate and all franchise partners moving forward.
In 2022 and 2023, Blueground acquired three companies in a strategic growth move and to expand its presence globally, including proptech startup Tabas [Brazil], on-demand housing provider Travelers Haven [US], and furnished rental platform Nestpick [US].
