The new brand is the result of the merger of four of the largest short-term rental companies in Europe
The European real estate market is boiling. And Portugal is at the center of all this change. Four of Europe’s leading local housing companies have announced a merger of their operations never before seen in the industry. The new company is called ALTIDO and will have management, marketing, and unified operations in its more than 1,700 properties in 21 European cities. The headquarters will be in London with offices in Lisbon, Milan, Edinburgh, and Rome.
The Portuguese company RentExperience joins Hintown (Italy), as well as BnbBuddy (Scotland) and The London Residents Club (UK). The four companies that have been growing solidly in their markets. They give rise to ALTIDO, which has plans to double its portfolio by the end of 2019 and develop new markets in Europe. The initial expectation is to double the number of properties in 12 months.
“We want to become the most beloved and trusted brand of hospitality in the world. ALTIDO will continue to increase the success of the four founding companies, with ownership management and relationship management, cleaning and maintenance, 24-hour service seven days a week. In the coming months, we will focus on expanding the local market, increasing B2B partnerships, implementing technologies in the areas of business intelligence and automation, as well as centralizing specialized operations in Bulgaria, “said Gonçalo Correia Ribeiro, CEO of RentExperience and co-founder of ALTIDO.
ALTIDO’s mission is to maintain the success of the four founding companies. The key point for the new company is that customers, owners, investors and partners have a perfect and definitive experience, as well as creating solid and permanent relationships.
“We are very excited to be partnering with three other companies. Among us, we represent a unique route to the market with the vision of a pioneer in the global hospitality industry. Our primary focus is on quality for guests and owners, and on delivering a projected portfolio of short-term rentals and services in the hotel standard, “said Davide Ravalli, one of ALTIDO’s founders and CEO of Hintown.
The new company has the necessary capacity to improve operational management and guest experience while still focusing on the mid-high-end segment for guests to enjoy the best hotel services during their stay. ALTIDO’s portfolio includes urban apartments, serviced apartments, and guesthouses.
“ALTIDO is bringing a new paradigm to end-to-end property management and hospitality in the world of a short-term lease,” said Simon Lehmann, AJL Consulting’s CEO and merger advisor.