limehome announces Portugal expansion plans
Germany / Portugal: Munich-based hospitality technology provider and apartment operator, limehome, is continuing its European expansion course with a contract signing in Portugal.
As part of a new construction project, 14 single flats, suites and three-bedroom suites with terraces and views of the Douro River, the Luis I Bridge and other landmarks [such as the Serra do Pilar Monastery UNESCO World Heritage Site] are being built in the coastal city of Porto, in the northwest of the country. The opening of the new limehome location is planned for the end of 2024.
limehome said that it will support the work in collaboration with its strategic partner and developer, Ratisbona.
Ricky Bichel, head of international expansion at limehome, said: “Portugal has become an international destination. We receive many enquiries from investors, family offices and investment funds who are therefore watching Portugal as well as Southern Europe with interest.
“Lisbon and Porto are definitely key cities in our European growth strategy. Without excluding other cities, of course, because thanks to our highly scalable business model we can go live with attractive offers in cities of different sizes.
“In 2023, we will continue to focus here to expand our attractive hospitality offering,” added Bichel.
It has been a busy month for limehome after it announced the appointments of Daniel Hermann as vice president expansion and Daniel Garner as vice president brand & product, and prior to that, the company secured €45 million in a growth capital round. Existing investors HV Capital, Picus Capital and Lakestar were joined by new investors AW Rostamani Group and Capital Four in backing the Munich-based startup, which will use the capital to fund further expansion and acquisitions of other operators.
limehome now employs more than 160 people and currently has over 3000 suites under contract at 100+ locations in Germany, Austria, the Netherlands, Belgium, Spain, Portugal and Hungary.
