October 2022 – We’re happy to announce that we’ve acquired a Nordic gem among short-stay serviced apartment operators, KOTI Hotel, to grow our coverage in Finland.
Bob W is a Helsinki-based 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 Bobs in Finland, Estonia, Spain, the UK, and Norway with expansion secured across key cities in Europe.
Despite being founded just before the pandemic, we’ve quickly grown to become a rising star in the hospitality space, growing revenues 8x year-on-year along with excellent margins and an average guest rating of 4.8 out of 5. We currently operate 16 assets with 500 apartments and have a pipeline of an additional 22 assets with 1,300 apartments secured across Europe. We service consumers as well as companies, including international startups and next-generation companies in fields such as tech and creative industries. Happy customers include the likes of Wolt and Reaktor.
We’re actively expanding across Europe and are looking to grow in partnership with real estate investors and developers across selected markets. KOTI Hotel marks our second publicised acquisition as we ramp up our mergers and acquisition strategy across Europe.
KOTI Hotel CEO and Founder Hannu Junkkaala shares his view of the acquisition, “I couldn’t think of a better match for KOTI than Bob W. We are both hospitality providers with a strong base in Finland who are rethinking how people travel, live and work. We’re like-minded, but we're already learning a lot from each other. Bob W’s technology will further elevate the unique KOTI experience for our new and returning guests.”
Bob W CEO and Co-founder Niko Karstikko is equally excited about the acquisition: “The KOTI team and their Helsinki assets are a perfect addition to Bob W and our portfolio. We share the same vision of combining the best of hotels and shorter-term rentals. I’m looking forward to seeing how we can reinvent the outdated hospitality industry together with this world-class team.”
About KOTI Hotel
KOTI Hotel provides high-class and unique furnished apartment properties in the heart of Helsinki. They have two properties with a total of about 100 apartments: KOTI Ullanlinna and KOTI Katajanokka. KOTI Hotel was founded in 2019 by sales and real estate veteran Hannu Junkkaala. The company's customer base is mainly business travellers who required accommodation for a longer period than a typical hotel stay. Due to its unique offering, the company yielded positive results throughout 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.
For Bob W press pack, images, assets, and more visit https://bobw.co/press
For more info and interviews, please chat with Aleksi@bobw.co
In the media
EU Startups – Finnish startup Bob W builds up market reach as it acquires KOTI Hotel
Short Term Rentalz – Bob W continues acquisition drive with KOTI Hotel addition
Serviced Apartment News – Bob W makes second acquisition in six months
Phocus Wire – Bob W continues buying spree, acquires KOTI
Kiinteistouutiset (Finland) – Bob W osti Helsingissä operoivan KOTI Hotellin
Global Travel News (China)
