Bob W continues acquisition drive with KOTI Hotel addition
Finland: Helsinki-based tech-driven hospitality provider Bob W has acquired Finnish serviced apartment operator KOTI Hotel.
Bob W currently operates 16 assets with 500 apartments in Finland, Estonia, Spain, the UK and Norway, and has a pipeline of an additional 22 assets with 1,300 apartments secured across Europe.
The company is actively expanding across Europe and is looking to grow in partnership with real estate investors and developers across selected markets. KOTI Hotel marks Bob W’s second acquisition – in May this year it bought Estonia’s largest short stay serviced apartment operator, Estonishing Stay Apartments. KOTI Hotel provides furnished apartment properties in Helsinki. It has two properties with around 100 apartments.
KOTI Hotel CEO and founder Hannu Junkkaala said: “I couldn’t think of a better match for KOTI than Bob W. We are both hospitality providers with a strong base in Finland who are rethinking how people travel, live and work. We’re like-minded, but we’re already learning a lot from each other. Bob W’s technology will further elevate the unique KOTI experience for our new and returning guests.”
Bob W CEO and co-founder Niko Karstikko added: “The KOTI team and their Helsinki assets are a perfect addition to Bob W and our portfolio. We share the same vision of combining the best of hotels and shorter-term rentals. I’m looking forward to seeing how we can reinvent the outdated hospitality industry together with this world-class team.”