Locale to expand property footprint in Texas
US: Aparthotel firm Locale is expanding its footprint in Texas with newly signed leases across five luxury residential buildings in Dallas and Fort Worth.
The Dallas and Fort Worth units are scheduled to be available in early September.
The addition of two new markets will take the number of units the Austin-based startup operates to over 250 across 13 buildings in Texas. Locale, which describes itself as a “boutique aparthotel brand”, also offers its concept in Austin and Houston and provides short-term rental and extended stay accommodation in San Francisco and Nashville.
According to CEO and founder, Nitesh Gandhi, the firm is planning to expand into Charlotte, Denver, Minneapolis, and San Diego by early 2020.
Speaking to Dallas Business Journal, Gandhi said: “We are excited to be in Dallas. We’re focused on investing in our units. We’re investing in the product and the experience.”
Locale’s business model revolves around entering long-term leases with apartment buildings and furnishing the units with upscale amenities before renting the rooms to business travellers and leisure guests who typically stay for a week or longer.
Aparthotels aim to provide the same luxuries that travellers expect from a hotel like concierge services, and the privacy and comforts of a home, such as a fully-equipped kitchen, larger living spaces and a washer and dryer.
Gandhi added: “A lot of business travellers stay with us, and Dallas is a tremendous hub of business travel with the airport and the large number of corporate headquarters and other operations. We cater to travellers who are looking for the more curated, elevated experience.”
In April, Locale announced it had raised $2.5 million in seed round funding, which it will partly put towards growing its listings in Texas.
The properties in which Locale will manage units are Locale Victory Park, Locale Uptown, Locale Design District (all in Dallas), Locale West 7th and Locale Magnolia in Fort Worth.
For more information, visit the Locale website here.