Bob W, a Finland-based short-term rental company, has acquired serviced apartment operator KOTI Hotel.
The acquisition of KOTI, which is also Finland-based, is Bob W’s second this year following its acquisition of Estonishing Stays in May.
Bob W, which currently operates 500 apartments across Europe, says it is increasing its revenues eightfold year-on-year.
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In a statement, the company adds that it has an additional 1,300 apartments across Europe in its pipeline.
Niko Karstikko, co-founder and CEO of Bob W, says: “The KOTI team and their Helsinki assets are a perfect addition to Bob W and our portfolio. We share the same vision of combining the best of hotels and shorter-term rentals. I’m looking forward to seeing how we can reinvent the outdated hospitality industry together.”
Hannu Junkkaala, founder and CEO of KOTI, adds that Bob W’s technology will “further elevate the unique KOTI experience for our new and returning guests.”
Helsinki-based Bob W announced €6 million in seed funding in April 2021, a top-up to its previous seed funding of €4 million.
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