Jack Ieronimo was one of the people on a United Airlines flight from Newark, New Jersey, to Rome, Italy, that made headlines after passengers said they were stuck onboard for seven hours without taking off.
25.08.2023 - 13:33 / skift.com / Srividya Kalyanaraman / Alex Chatzieleftheriou
Blueground, the property management company that operates furnished 30-plus-day rentals, has acquired Nestpick in an equity-based deal. Nestpick’s platform lists month to month rentals of furnished accommodation. The company is registered in Germany, with offices in New York.
The deal comes as Blueground attempts to build a partner network that will list what the company says is vetted third-party inventory. For successful bookings, Blueground will charge a referral fee. This partner network will initially add over 18,000 units to Blueground’s established network of apartments around the world, with the goal of adding 50,000 units within 2024. Blueground has 15,000 apartments. Blueground’s strongest markets include NYC, LA, San Fran, Dubai, London and Paris.
The network will bring over portfolios from companies including Kasa and Placemakr, based on established criteria to meet the needs of current and future Blueground guests.
“The Nestpick team will help us build our partner network,” said Alex Chatzieleftheriou, co-founder and CEO of Blueground. “It’s the merging of Blueground and external operators, and what we are getting is integration, is know-how and speed to bring operators to the platform.”
The companies did not disclose details of the deal.
Nestpick founder and CEO Omer Kucukdere said that the company has been cash flow positive since the last two quarters of 2019 and in 2022 Nestpick’s platform had 15 million visitors and $80 million dollars in booking value.
Blueground, with offices in Greece and the U.S., provides extended stays (one month to one year) furnished corporate housing in urban centers, with apartments in 11 cities in the U.S. and 19 cities internationally. Nestpick is headquartered in Berlin, Germany.
This is Blueground’s second acquisition in five months — In February, the company acquired corporate housing specialist Travelers Haven to grow its footprint across the U.S. At the time of the acquisition Chatzieleftheriou said the combined organization (Blueground and Travelers Haven) will employ 1,200 people, and is expected to reach over $600 million in revenue in 2023.
This deal with Nestpick further bolsters Blueground’s presence in the US, and ties into the company’s larger strategy of building a global accommodation network. Chatzieleftheriou noted that it will also look at strategic partnerships and franchising agreements to scale that network in the future.
Jack Ieronimo was one of the people on a United Airlines flight from Newark, New Jersey, to Rome, Italy, that made headlines after passengers said they were stuck onboard for seven hours without taking off.
TUI is expanding the season in Turkey. Turkey is one of the most popular holiday destinations for TUI guests from all markets. 1.9 million guests travelled to Turkey with TUI in 2022. The country is not only a sought-after destination in the summer season. TUI Deutschland customers can book holidays in Antalya all year round. The region on the Turkish Riviera is TUI’s fifth largest destination in the winter season. Now the offer is also being expanded for British guests: for the winter season 2023/24, capacities for Antalya will be increased by 30 per cent.
Clarity Business Travel, a corporate travel agency based in the UK, plans to purchase two corporate travel businesses for £36.5 million ($46 million).
The deadly wildfires on the island of Maui are likely to affect visitor — and airline — demand to the island for the “foreseeable future,” analysts at T.D. Cowen said Friday.
Blueground is seeing its apartments being rented out as safe havens from political upheavals.
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American Express Global Business Travel has partnered with Emirates Group-owned dnata to offer its global clients more local expertise in the Middle East region.
If you’d thought Silicon Valley’s TripActions was running out of steam as we head towards the year’s end, after its acquisitions and extensive fundraising, think again.
U.S. airlines and airports are preparing for a surge in passengers over the Thanksgiving holiday, with the number of travelers expected to hit the highest level in three years.
Hilton Worldwide’s earnings report on Thursday was a good news-bad news story.
Greek startup Blueground has bought corporate housing specialist Travelers Haven to grow its footprint across the U.S.
Travelport has regained its own corporate booking tool, after buying Deem from private car rental company Enterprise Holdings.