London: Four leading European short-term rental property management companies have announced a merger to create a brand called ALTIDO, which will be headquartered in London.
The merger will combine the business operations of UK-based BnbBuddy and The London Residents Club, Hintown in Italy and RentExperience in Portugal. The brand will bring together the marketing, management and operations of over 1,700 properties across 21 European destinations.
As well as having its centralised head office in London, ALTIDO will have satellite offices in core locations, such as Lisbon, Milan, Edinburgh and Rome.
The four companies at the heart of the merger say they are fast growing, privately owned, profitable and have enjoyed organic growth in their core markets respectively. ALTIDO also has immediate plans to expand its operations and develop into further markets across key European locations with the aim to double its inventory in the next 12 months.
Davide Ravalli, co-founder of ALTIDO and CEO of Hintown, said: “We are very excited to be combining forces with the other three companies. Between us, we represent a unique route to market with a vision to be a pioneer in the global hospitality industry.
“Our core focus is on quality for both guests and owners; offering a design-led portfolio of short-term rentals with hotel standard services to match,” he added.
ALTIDO will look to continue the success of the four founding companies with localised property management and teams on the ground taking care of owner relations, cleaning and maintenance, 24/7 guest communications and a heightened guest experience. A key focus for ALTIDO will be on creating a definitive and branded guest experience throughout the customer journey, as well as forging strong and long-lasting relationships with owners, property investors and partners.
The new firm has leading technical capabilities for enhancing operational automation and improving the guest experience; ensuring costs for property management are reduced and guests enjoy increased hotel-like services during their stay. The ALTIDO portfolio includes a diverse range of distinctive private rentals, serviced apartments, apart-hotels and guesthouses.
Simon Lehmann, CEO of AJL Consulting and advisor to the merger, said: “ALTIDO is bringing a new paradigm for the end-to-end property management and guest hospitality in the global short-term rental industry. One that will change the way the industry is looking at scaling the business of property management and building a totally new approach to consolidation.
“It is a vision that is global in scope, but local in operation – ensuring that the ‘boots on the ground’ management and branded guest experience are second to none,” he added.
For more information, visit the ALTIDO website here.