Kasa Living diversifies into single-home vacation rentals
US: San Francisco-based operator Kasa Living is diversifying its offering from tech-powered, professionally-managed apartments and hotel rooms into the luxury single-family vacation rental market.
The real estate startup, which launched in 2016 and serves business and leisure travellers alike, has partnered with an unnamed real estate investor to provide luxury single-family homes as vacation rentals, beginning in Miami-Fort Lauderdale. The homes will come equipped with amenities including private swimming pools and kitchens, as well as luxury household items and a 24/7 customer support.
Kasa Living leverages its proprietary technology and institutional expertise to transform vacant and under-utilised real estate into high-quality, trustworthy accommodations for travellers. The company now has more than 40 property partners and 75+ properties across the United States, enabling its partners to unlock new streams of income and realise the full potential of their buildings.
To date, Kasa Living has raised more than $56 million in funding, including a $30 million Series B raise in October 2020 and a $20 million round less than a year before that. The company has received backing from the likes of Ribbit Capital, FirstMark Capital, RET Ventures, Zigg Capital, Allegion Ventures and BoxGroup.
Roman Pedan, founder and CEO of Kasa Living, said: “We are excited to enter the single-family leisure sector and offer our guests the same high-quality experience they have come to expect from Kasa, but now in the form of a luxurious single-family vacation home. This is an extension of our core value proposition, which is to unlock the power of livable space.
“We see this as a significant opportunity to meet the growing demand for premium vacation rental options and offer a consistent, branded experience that has existed for years in the hotel market but has been lacking in the vacation rental market,” he added.