Kasa, the tech-powered hospitality brand and operator, has secured a $40-million growth investment led by tech investor Silver Lake Waterman (SLW) to accelerate investment in technology and AI capabilities powering its proprietary hospitality operating system.
Kasa partners with real estate owners to operate hotels and aparthotels more efficiently, leveraging technology, nationwide scale and its centralized operating system to deliver streamlined financial results and improve the guest experience.
The company serves as the exclusive short-term rental provider to some of the 20 largest multifamily owners in the U.S. and partners with institutions like Starwood Capital, Berkshire, Prudential and Greystar, among others. In addition, Kasa has surpassed $100 million in annual booking revenue, more than doubling its business in the past year.
“We are building a better way to operate hospitality properties: one that’s lighter, smarter and more profitable,” said Roman Pedan, founder and CEO of Kasa. “This funding allows us to double down on investing in systems to drive performance for our partners. We’re giving independent hoteliers access to the kind of technology and operational backbone that, until now, was only available to the world’s largest hotel brands.”
Kasa operates over 85 properties across more than 45 markets across the US. Its tech-enabled operating model has seen strong adoption among boutique hotels, which now account for more than 35 properties in over 20 markets and represent one of the company’s fastest-growing segments. Some of them include the former Ace Hotel in Pittsburgh, now called The Maverick by Kasa, which the company has managed since 2021.
Kasa was founded by executives from KKR, Apollo, Goldman Sachs and Airbnb to reimagine hospitality through technology-driven scalability. Most recently, the company opened Kasa Little Italy in San Diego.
