Tech-driven hospitality startup Bob W is ramping up its European reach with another strategic acquisition. The Helsinki-based company has just snapped up Nordic competitor KOTI Hotel, expanding its offering of modern alternatives for short-stays.
The way we move and travel has changed quite a bit over the past couple of years. After being resigned to staying in the confines of our homes for a couple of years now we have the freedom to travel again and demands, wants and needs have changed dramatically. One trend that we’ve seen evolve has been the growing popularity of short-stay rentals.
Short stay rentals give travellers more comfort and affordability whilst still giving a luxurious quality – and they better accommodate those travelling as a digital nomad, those travelling for business, and those travelling for pleasure.
Bob W, a Helsinki-based startup, has been innovating in the hospitality sector since 2018 and is now consolidating itself as a market leader thanks to its tech-driven approach.
Taking control of the market
Now, the company has announced that it has made another key acquisition deal – snapping up Nordic competitor brand, KOTI Hotel. It comes not long after the team acquired Estonian competitor, Estonishing Stay in May this year.
Bob W takes a tech approach to hospitality, offering a ‘smarter’ and ‘cooler; alternative to hotels and short-stay rentals. Backed by venture capitalists and real estate investors, they currently operate Bobs in Finland, Estonia, Spain, the UK, and Norway with expansion secured across key cities in Europe.
The startup aims to cater to the needs of the modern traveller who want both the quality of a hotel and the authenticity of a short-term rental. The properties are sustainability operated and aim to provide guests with a seamless five-star experience, without having face-to-face interactions.
The company’s full-stack tech platform – including their app, chat-based customer service, contactless online check-in, and autonomous operations – not only minimizes human error but also allows the company to craft the entire guest experience, from booking to check-out, at scale.
Now, the startup is adding KOTI Hotel to its portfolio, marking the firm’s second publicized acquisition. KOTI Hotel, founded in 2019, provides quality and unique furnished apartments in Helsinki. The brand has about 100 apartments and mainly caters to business travellers – a growing target audience that Bob W can now tap into.
KOTI Hotel CEO and Founder Hannu Junkkaala: “I couldn’t think of a better match for KOTI than Bob W. We are both hospitality providers with a strong base in Finland who are rethinking how people travel, live and work. We’re like-minded, but we’re already learning a lot from each other. Bob W’s technology will further elevate the unique KOTI experience for our new and returning guests.”
Bob W has quickly grown to become a rising star in the hospitality space, growing revenues 8x year-on-year. The hospitality disruptors currently operate 16 assets with 500 apartments and have a pipeline of an additional 22 assets with 1,300 apartments secured across Europe. They service consumers as well as companies, including international startups and next-generation companies in fields such as tech and creative industries.
Bob W CEO and Co-founder Niko Karstikko: “The KOTI team and their Helsinki assets are a perfect addition to Bob W and our portfolio. We share the same vision of combining the best of hotels and shorter-term rentals. I’m looking forward to seeing how we can reinvent the outdated hospitality industry together with this world-class team.”
By the way: If you’re interested in the future of the travel industry, and exciting innovations in the travel and hospitality world, make sure you check out FutureTravel and the upcoming FutureTravel Summit!
