Germany: limehome, a technology-based provider and operator of fully digitised apartments in Europe, has revealed its expansion plans.
The startup, which offers a completely digital guest journey, from booking to check-out and invoicing, has increased its revenue by more than 200 per cent last year.
The provider has more than tripled its revenue in all four quarters compared with 2021.
At the end of last year, existing investors HV Capital, Picus Capital and Lakestar renewed their investments and AW Rostamani Group and Capital Four also invested in the hospitality company for the first time. As such, limehome enters the new financial year with around €45 million in growth capital.
The provider’s fully equipped suites offer functionality, comfort and design for both short- and long-term stays. The Munich-based company now has more than 3,300 opened and planned suites in more than 110 locations in Germany, Austria, the Netherlands, Belgium, Spain, Portugal and Hungary.
Signings in Amsterdam, Barcelona, Budapest, Vienna and Porto mean it has cemented its presence in key European cities.
In Germany, limehome completed its presence in all A-cities with the opening in Düsseldorf – last year it opened apartments in 24 locations across the country.
limehome plans to use the capital raised for expansion in existing markets, new markets such as Portugal and Italy, and strategic acquisitions of existing operators. The hospitality tech company also intends to use the funds to further expand the scalability and high service level of its own technology platform.
Cesar de Sousa Freitas, CEO of limehome, said: “We are delighted with the successful completion of fiscal year 2022. We have achieved our ambitious goals despite a challenging year for the industry, proving once again how great the potential of our business model is. This is a strong signal to the market.”
Dr Josef Vollmayr, co-founder and CEO of limehome, added: “Thanks to our consistently technology-based approach, we were able to continue our rapid growth course in 2022 and confirm the trust of our customers, partners and investors. This is something we are proud of. With the successes of the past year, the limehome team has created an excellent basis for the coming year.”
The technology-based operator model allows the premium design apartments to be offered at the price of a standard hotel room.