Renters.pl acquires 100% shares in Rent Like Home
11 April, 2023, 12:10
Warsaw-based company Renters.pl has acquired 100% shares in Rent Like Home, its competitor on the market. The undisclosed deal will help Renters.pl with the consolidation of the Polish market of short term rental services, MamStartup reports.
- Renters.pl is a short term rental management company in operation since 2018. The company serves both individual clients and institutional property owners. The service helps them outs with interior design, advertisement management, guest service, price management, as well as facility maintenance and cleaning.
- The company currently employs about 200 people. It already has over 2,000 apartments and houses for rent throughout Poland in its portfolio. In 2022, the company reported booking revenues of nearly €28 million (PLN 130 million).
- Rent Like Home is its competitor on the Polish market. The company was founded in 2016 and is also based in Warsaw. It currently manages nearly 500 apartments in six Polish cities: Warsaw, Poznań, Gdańsk, Zakopane, Wrocław, and Międzyzdroje.
“The inclusion of Rent Like Home in our portfolio is an important step towards our strategy, as well as important for the clients of both companies. The incorporation of the Rent Like Home brand into the Renters and Renters Prestige or Noclegi.renters.pl brands will allow us to increase our offer reach for more property owners,”Kamil Krzyżanowski, CEO at Renters.pl, comments.
- The acquisition followed shortly after the Polish fund b.Value exited Renters.pl. In turn, another private equity fund Enterprise Fund VIII announced to invest up to €19 million, acquiring up to 80% of the company.
- The transaction begins the process of consolidation of the short term rental sector in Poland and the region.