Bob W acquires regional competitor Estonishing Stay, becomes market leader in Estonia

Bob W has acquired Estonia’s largest short-stay serviced apartment operator, Estonishing Stay Apartments, thus tripling our coverage in Estonia.

Bob W is a tech-driven hospitality provider offering a smarter alternative to hotels and short-stay rentals. Backed by venture capitalists and real estate investors, we currently operate in Estonia, Finland, Spain, and the UK with publicised expansion to Germany and the Netherlands.

Despite being founded just before the pandemic, Bob W has quickly grown to become a rising star in the hospitality space, growing revenues a staggering 18X year on year along with healthy unit economics and the happiest customers on the market (4.8/5 average ratings since inception). We have more than 1,200 signed apartments in our pipeline, representing an excess of 37M EUR in annual revenue potential across 28 properties in 15 cities across Europe. We service consumers as well as companies, including international startups and next generation companies in fields such as tech and creative industries.

We’re actively expanding across Europe and are looking to grow across markets with real estate partners and investors. Estonishing Stay marks Bob W’s first acquisition and the beginning of a ramp-up in our M&A efforts in the Baltics and beyond.

“We’re pleased to join forces with Bob W since we share the vision for a new category of hospitality. We’re looking forward to working together to expand our real estate network regionally with new real estate investors,” tells Gerdi Arst, Co-founder at Estonishing Stay.

“Team ESTonishing is a strong believer in smart digital services combined with superb virtual customer service. With our new joint team, we can provide better solutions both for our investors, and also customers,” adds Evelin Org.

Bob W CEO and Co-founder Niko Karstikko is equally excited about the acquisition: “We’re really lucky to have Estonishing Stay join the Bob W family. We’ve got an amazing pool of talent and properties between us, and we’ll be leveraging Bob W’s technology, resources, and capabilities to improve the performance of these assets.”

About Estonishing Stay

Estonishing Stay was founded in 2019 by real estate and hospitality experts Gerdi Arst and Evelin Org. Their third co-owner, Maaja Tuuling, joined the team in 2021. In just three years, their joint expertise in investing, sales, marketing,customer service and entrepreneurship has propelled the company to become the biggest short-stay servicedapartment operator in Estonia. Estonishing Stay currently operates properties in multiple Estonian cities and hasgrown almost 600% during the pandemic.

About Bob W

‍Bob’s exceptionally cool short-stay accommodation caters to the 21st-century traveller who wants it all: the consistent quality of a hotel and the authentic flair and affordability of a short stay rental. We combine the best of both worlds in our sustainably operated properties in Europe’s most interesting neighbourhoods. Backed by Europe’s top real estate investors and venture capitalists including NREP, Tesi, Kaamos, and byFounders, we’re building the technology to give every guest a local, contactless five-star experience at scale. Check out our 60-second intro video for more.

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For more info and interviews, please chat with Aleksi@bobw.co