Bob W enters German market with acquisition of Charly Hospitality

Alternative accommodation specialist Bob W has acquired Charly Hospitality, adding seven properties in Germany and the Netherlands that will become Bob W brands this year. Bob W will also transition Charly to its tech platform and suite of apps. The purchase price was not disclosed.

“We acquired Charly because we share a similar tech-enabled approach and design ethos, resulting in a straightforward integration,” the company said in a statement. “We aim to continue expanding quickly across Europe, particularly in Germany, which we expect to be our largest market by the end of 2024.”

Bob W said it expects to operate more than 40 properties by the end of 2023. The company currently operates 27 short-term rental properties in the United Kingdom, Spain, Finland, Italy, Norway, Greece and Estonia.

The startup in 2022 acquired Estonishing Stay, a short-stay apartment operator in Estonia. It also bought Finnish competitor KOTI Hotel and announced €21 million in Series A funding.

Based in Helsinki, Bob W says it offer guests a “five-star contactless experience supported by super responsive digital customer service.” The company was founded in 2018 by Sebastian Emberger from Germany and Niko Karstikko from Finland.

“We are super excited about entering Germany with Charly and adopting their world-class team,” Karstikko said. “Once we apply our tech and brand standards, the next generation of travelers will have yet another place to call home with the most loved hospitality product on the market.

“We will continue to expand quickly but sustainably in existing and new markets where there is high demand for what we offer and the fundamentals add up,” Karstikko said.

Jona Schaeffer, Charly Hospitality founder, called Bob W “the perfect home for our team and our portfolio of boutique [apartment hotels] in Germany and the Netherlands.”

“We strongly believe in Bob W’s potential to become the market leader in alternative accommodations in Europe and are delighted that Charly will play its part in it,” Schaeffer said.

Bob W said it is backed by real estate investors and venture capitalists including NREP, Elevator Ventures, Verve Ventures, IDC Ventures, Flashpoint, Tesi and byFounders with more than €31 million in announced funding.