NEW YORK--(BUSINESS WIRE)--Blueground, the largest global operator of furnished rentals for 30+ day stays, announces today the acquisition of Denver-based Travelers Haven, the leading provider of housing on-demand in the U.S. Travelers Haven offers the fast and highly customizable sourcing of flexible rentals on-demand to businesses with access to up to 20,000 U.S. cities. The acquisition of Travelers Haven will now give Blueground the ability to provide accommodations to clients on demand in the U.S. in addition to its already established inventory of apartments around the world. The combined organization will employ over 1,200 people and is expected to reach over $600m in revenue in 2023.
This acquisition comes at a time of growth for Blueground. Blueground’s focus has always been the core, urban centers – having apartments in 11 cities in the U.S. and 19 cities internationally – however, through the acquisition, the company will offer furnished apartments across a wider geographic scope. The acquisition will see more housing options in more locations for corporate clients in the U.S. while also growing Blueground’s corporate client base.
Blueground operates the largest, curated global network of furnished rentals for 30+ day stays for individuals and corporate clients alike. The company was co-founded 10 years ago by CEO Alex Chatzieleftheriou, who, after many years as a business traveler, had experienced first-hand the pain points of living out of hotels for work for months at a time. He aspired to create a way that people could feel settled and at home, while free to explore the world.
“When I set out to create Blueground, my goal was to offer a simple way for people to move freely between neighborhoods, cities, and countries around the world, while providing high quality service, so they can explore easier and more efficiently,” says Alex Chatzieleftheriou, CEO and Co-founder, Blueground. “We have deep admiration for the Travelers Haven team and what they’ve built over the last 15 years. I am excited about this next chapter together to provide turn-key, tech-enabled homes both on-demand and readily available at a global level.”
Founded in 2008 by Elia Wallen, Travelers Haven caters to a wide range of clients, providing stays that are tailored to their specific needs and location, with options to search by length of stay, budgetary requirements, and more. In 2022, the company provided more than 10,000 people with rentals by sourcing apartments on an on-demand basis through industry-leading software and a network of vendors making up a virtual inventory of 2,700+ apartments that spans every U.S. city and town. Headquartered in Denver, Colorado, Travelers Haven is a bootstrapped business, showing a strong financial profile with steady year-over-year revenue growth and sustained profitability; the company exceeded $100M of revenue in 2022.
“We’re proud of Travelers Haven’s success over the last 15 years, as we’ve bridged the workforce housing gap and created a niche in the market with flexible rentals on-demand,” said Carlos Abisambra, President and CEO, Travelers Haven. “Travelers Haven and Blueground have the same goals and vision for the future of housing, and we’re ready for this next chapter to bring the on-demand category to a global audience.”
For now Blueground and Travelers Haven will continue to operate as separate entities, with plans to fully integrate in the future. In the meantime, the two companies will be sharing best practices and offering their combined services to each other’s clients, while working together to merge tech platforms and service offerings.
This acquisition adds to the offerings available through Blueground for Business, the corporate service of the company. Blueground for Business provides a seamless booking experience for HR and Travel Managers with custom benefits including a dedicated account manager and direct booking links for clients. Currently, 35% of Blueground's revenue is from Blueground for Business. This figure climbs to 50% for the group with the addition of Travelers Haven's revenue, and plans to double in amounts in 2023.
This is Blueground’s second acquisition in three months; the company recently entered the Latin American market with the announcement of the acquisition of Brazilian PropTech startup Tabas in December 2022.
For more information, please visit www.theblueground.com.
About Blueground
Blueground is a global PropTech company that is reinventing the way people live with its curated network of thousands of quality, turnkey homes in sought-after neighborhoods around the globe, available for stays of a month or longer. Blueground’s tech-enabled platform provides a fully digitized experience from viewing and booking available apartments within minutes to managing the entire stay through the Blueground Guest App. Now renters can book where they want, when they want, and on the terms they want. Blueground is headquartered in New York City, with a portfolio of over 12,000 move-in ready apartments in 30 cities worldwide as well as access to apartments on-demand in ~20,000 cities and towns in the U.S. In 2022, Blueground announced the acquisition of Brazilian PropTech startup, Tabas, supporting the company’s expansion in Latin America. In 2023, Blueground acquired Travelers Haven – the leader in workforce on-demand housing – allowing Blueground to now offer on-demand housing in over 20,000 cities and towns in the U.S. for corporate clients. Blueground plans to expand to 50 cities by 2025. Find us on Facebook, LinkedIn, Instagram, Twitter or at www.theblueground.com.
About Travelers Haven
Travelers Haven is the leading provider of housing on-demand. Since 2008, Travelers Haven's proven network, relationships and services has offered the fast and highly customizable sourcing of temporary housing, anywhere in the U.S. Travelers Haven secures the best housing at the best rates, and manages every aspect of the short-term housing process to save clients money, time and stress. Travelers Haven offers unparalleled support and a complete suite of tools and features to inform and optimize every housing program. For more information, go to www.travelershaven.com.
