Coliving operator Outsite lands 300m. euros for European expansion

27.11.2023 - 09:44 / traveldailynews.com / Theodore Koumelis

As part of this collaboration, Keys REIM has committed to allocate 25m. euros of equity per year over the next five years to support Outsite in acquiring and converting hotels into Outsite-managed properties. The targeted properties will typically range between 20 and 70 keys, with an expected yield (IRR) of 10 to 15%, depending on the asset.

PARIS – Outsite, a leading player in the hospitality industry, announce a strategic partnership with Extendam, Keys REIM, and Stone Capital, marking a significant milestone in Outsite’s European expansion journey. The partners have jointly signed an agreement to back Outsite’s expansion plan in Europe with a 300m. euros commitment to secure new properties.

Outsite, a coliving coworking operator, creates properties for digital nomads and remote workers – they currently operate 50 locations across the U.S, Latin America, Africa, Asia and Europe.
This strategic partnership will reinforce their European network with each investor opening doors to future opportunities in the European Union with a strong focus on France, Spain, Portugal and Italy.

Keys REIM and Stone Capital have backed Outsite since their first European launch in 2019, and having seen the benefit of their model first hand, continue to spur on their growth. This collaboration will empower Outsite to scale up rapidly, with a vision to multiply its current inventory by fourfold, reaching over 3500 keys within the next five years. The focus will also  shift towards targeting hotels properties between 20 keys and 50 keys or more…

Vincent Ferat, President of Keys REIM, remarked, “Keys REIM has been a shareholder of Outsite since 2019, and our shared success story continues with this new agreement. We are committed to supporting Outsite’s European growth and focusing on key European gateway cities and Southern Europe leisure destinations.”

Bertrand Pulles, CO-CEO of Extendam, and Maxime Durand, Investment Manager, expressed their enthusiasm for the partnership, stating, “We believe that Outsite’s innovative approach to
hospitality perfectly aligns with Extendam’s investment strategy. This partnership will enable us to expand our footprint in Europe and offer unique experiences to modern travelers.”

Arthur Moreno, Co-Founder & CEO of Stone Capital, added, “Stone Capital is excited to join forces with Outsite in this transformative stage of growth. We see immense potential in Outsite’s
expansion strategy, and we look forward to continuing to work with them to achieve their ambitious goals in Portugal.”

Keys REIM has a history of pioneering investments in emerging hospitality trends, and this partnership solidifies their confidence in Outsite’s vision. The company currently manages a portfolio exceeding 1.6