Boutique aparthotel brand Locale raises $11M in Series A funding
Locale, a US-based start-up blurring the line between vacation rental and traditional hotels with high-end furnished apartments, has raised a further $11m in Series A funding which it will use for digital product innovation, hiring senior staff and expanding into new cities.
The company’s revenue has grown 200% year-over-year, with a customer base split 50-50 business and leisure guests.
- US investor picks up minority stake in Chinese corporate housing operator
- Why South African property investors are favouring aparthotels
- OYO to support vacation rentals from latest $1.5bn funding round
- US consumers spent more on Airbnb than on Hilton brands last year
- Short-stay start-up AvantStay raises further $5 million
- Domio raises $12 million to build aparthotels across the US
- Airbnb clone Wimdu to close this year, after raising more than $90 million
- Wyndham Worldwide is buying La Quinta for $1.95 billion