NUMA Group expands to Italy

Milan / Berlin: Short-term rental technology provider and driver of the “commercial living” asset class, NUMA Group [formerly COSI Group], has announced its expansion into Milan and Berlin. 

With its international expansion to Italy, NUMA is continuing on its growth path in Europe.

Earlier this year, the German company launched in Spain and acquired local property management firm Friendly Rentals a few weeks later, having secured €20 million in investment in March to accelerate its European expansion.

NUMA aims to combine the comfort of a home with the standards of a hotel, developing new technology solutions for the real estate industry, focusing on apartment rentals and hotels in central locations of the cities in which it operates.

Targeting prime neighbourhoods and driving demand for tourists and business travellers, NUMA has already secured two properties in Florence with NUMA Rodo, a hotel directly in front of Florence Cathedral, and NUMA Vita, a renovated villa.

In Milan, NUMA is launching the newly built NUMA Loreto, while in Rome, a location in Piazza Venezia will open later this year. Further projects in well-known Italian destinations are said to be in “advanced negotiations”.

By leveraging its technology solutions, NUMA claims to deliver a superior guest experience and reduce operating costs by up to 60 per cent. The company also reported 90 per cent booking occupancy in its units in Europe in 2020, even during Covid-enforced lockdowns.

In Italy, NUMA is managed by Gabriele Coen, director of real estate expansion, who was previously responsible for the Italian market as general manager at Sonder for four years.

NUMA Group CEO and co-founder, Christian Gaiser, said: “Italy is home to most of the UNESCO heritage sites globally. Based on our strong focus on iconic leisure destinations, Italy is at the heart of our expansion strategy.

“We are pleased to arrive in Italy, opening three iconic locations right from the get-go,” he added.

Coen said: “For NUMA, Italy is one of the most important European markets of the future, and we believe our proven success model fits the local market specificities perfectly.

“NUMA’s hybrid model enabling it to flexibly switch from short- to mid-stay results in an attractive low-risk profile and has already generated strong interest with local property owners, real estate developers, and investors. The demands on Italian hotel operators are growing enormously, especially in times of Corona.

“The optimisation of internal, operational processes can be existentially decisive here. The digitisation of processes shall become a must. Guests shall become ever more demanding and prefer a seamless experience and high-quality product,” he added.