Mint House has acquired Locale, a residential hospitality company with a collection of furnished apartments and aparthotels.
The residential hospitality operator offering long and short-term accommodations has acquired Locale as it seeks to expand its footprint this year. The company recently announced the upcoming launch of its fourth location in Nashville, Tennessee and will open its first location in Washington DC in Spring 2025.
Locale’s acquisition adds to this growth, with planned openings in existing and new markets such as California, Wisconsin and Arizona. Locale’s properties will be rebranded and integrated into Mint House’s portfolio, bringing the company to a total of 22 properties in 13 markets across the US including in Texas, New York, South Carolina and Florida.
The transaction consideration includes both cash and stock and Mint House investors are supporting the deal through the investment of additional capital.
What they said
Christian Lee, CEO of Mint House said: “The alternative lodging sector is at an inflection point and as we kick off 2025, we see this as a timely and strategic opportunity to scale. Locale shares Mint House’s focus on a premium hospitality offering in high-end multifamily properties and this combination will leverage the strengths of both companies to drive greater scale, efficiency and an enhanced offering for all guests. It also positions us as the premier partner for multifamily developers looking to maximize building profitability.”
Nitesh Gandhi, founder & CEO of Locale added: “From day one, our mission at Locale was to provide exceptional, tech-driven stays in premium multifamily and apart-hotel properties. Mint House shares that same high standard and I’m thrilled to join as a senior advisor to help drive growth and deepen our category leadership.”