Domio, which designs and rents out aparthotels with kitchens and homelike experiences, has raised $100million (split equally between equity and debt) to expand its business globally from 12 to 25 markets by next year.

Its apartments are around five times bigger and on average 25% cheaper than a hotel room.

The company describes itself as competing with amateur hosts on Airbnb, and as the next Marriott but with a more tech-powered brain and operating model, “the anti-hotel chain”. Seemingly overlooking the serviced apartment sector, one of its investors describes Domio as catering to an ‘under-served audience’ who prefer the combined benefits of an apartment and hotel in a single branded experience.