INSUBCONTINENT EXCLUSIVE:
Yet Airbnb accommodations, which have become the go-to alternative for travelers, can be highly inconsistent.Domio, a two-year-old, New
brand that travelers recognize as upscale yet affordable, more tech friendly than boutique hotels and features plenty of square footage,
which it expects will appeal to both families as well as companies that send teams of employees to cities and want to do it more
home-sharing business called Tribute Portfolio Homes wherein it says it vets, outfits and maintains to hotel standards homes of its choosing
And Marriott is among a growing number of hotels to recognize that customers who stay in a hotel for a business trip or a family vacation
might prefer a multi-bedroom apartment with hotel-like amenities.Property management companies have been raising funding left and right for
Ore.-based vacation rental management company that manages more than 10,000 properties and which just this week closed on $64 million in
branded apartment complexes that lease units to both long-term renters and short-term visitors in partnership with development partner
Niido.Whether Domio can stand out from competitors remains to be seen, but investors are happy to provide it the financing to try
from SoftBank Capital NY and Loric Ventures
The round comes on the heels of Domio announcing a $50 million joint venture last month with the private equity firm Upper 90 to exclusively
fund the leasing and operations of as many as 25 apartment-style hotels for group travelers.Indeed, Domio thinks one advantage it may have
over other home-share companies is that rather than manage the far-flung properties of different owners, it can shave costs and improve the
(It even has partners in China making its furniture.)As CEO and former real estate banker Jay Roberts told us earlier this week, the plan is
to open 25 of these buildings across the United States over the next couple of years
from angel investors in the real estate industry; altogether it has now amassed funding of $67 million.
