In a move that expands its presence in the premium residential hospitality sector, residential hospitality operator Mint House has acquired Locale, the residential hospitality company known for its tech-driven accommodations.
The deal, which includes both cash and stock, aims to increase operational scale and strengthen Mint House’s position in the alternative lodging segment. Mint House investors are also backing the acquisition with additional capital. Other financial details of the transaction were not disclosed.
This is a “timely and strategic opportunity to scale” as the alternative lodging segment is at an inflection point, said Christian Lee, CEO of Mint House.
“Locale shares Mint House’s focus on a premium hospitality offering in high-end multifamily properties. This combination will leverage the strengths of both companies to drive greater scale, efficiency and an enhanced offering for all guests. It also positions us as the premier partner for multifamily developers looking to maximize building profitability,” Lee said.
Founded in 2016, Locale bridges the gap between hospitality and residential living through thoughtfully designed stays in multifamily properties.
“From day one, our mission at Locale was to provide exceptional, tech-driven stays in premium multifamily and apart-hotel properties,” said Nitesh Gandhi, founder and CEO of Locale. “Mint House shares that same high standard and I’m thrilled to join as a senior advisor to help drive growth and deepen our category leadership.”
All employees of Locale will transition to Mint House, ensuring a seamless integration and continued focus on service quality.
The acquisition comes on the heels of several industry recognitions and accomplishments for Mint House. The acquisition also aligns with the company’s broader expansion plans. Mint House recently announced its fourth Nashville location in Marathon Village and its first Washington, D.C. property slated to open this spring.
With Locale’s integration, Mint House will add new locations in Menlo Park, Calif.; Madison, Wis.; and Phoenix, bringing its total footprint to 22 properties across 13 markets in the U.S., including:
- Austin, Texas
- Dallas/Fort Worth, Texas
- Denver
- Greenville, SC
- Houston
- Miami
- Nashville, Tenn.
- New York
- Philadelphia
- Petersburg, Fla.
Founded in 2017, Mint House offers hotels for short-term stays. All hotels offer mobile check-in and keyless entry, pre-stocked groceries, 24/7 digital concierge services, on-demand fitness, smart thermostats and shoppable spaces.
