Switzerland-based short-term rental company GuestReady has acquired French rival BnbLord as part of its expansion drive. GuestReady, founded in 2016, said the acquisition of the Airbnb management company will allow it to become a “leading provider in Europe managing more than 2,000 properties with a wide range of services to property owners, agents and developers”.
GuestReady provides property services to investors, homeowners and Airbnb hosts across the UK, France, Portugal, United Arab Emirates, Malaysia and Hong Kong. Services include listing creation, guest communications, housekeeping, key management and price optimisation.
BnbLord was established in 2015 and last year generated €10m in revenue for clients.
Alexander Limpert, co-founder and CEO of the GuestReady Group, said: “We are extremely excited about this acquisition because it allows GuestReady to propel forward and become the largest service provider in the vacation rental industry.”
The acquisition will see the entire team at BnbLord join the GuestReady Group, with all jobs maintained. Meanwhile, its founding team will take up senior positions at GuestReady. Léo Bonnet, co-founder and CEO of BnbLord, said: “The industry is maturing quickly and we are happy to become part of the technology leader in this space. With our shared experience we will be able to further accelerate growth.”
This isn’t the first acquisition for GuestReady. In December 2018, it acquired Portuguese short-term rental operator Oporto City Flats and also took over the management of French Airbnb manager We Stay In Paris. GuestReady said it wants to further consolidate the market by teaming up with the best local and regional service providers and adding new talent to its 100-person-strong team. Limpert added: “Since we started, we have been very focused on operational excellence and building a property technology system that allows us to automate non-core processes.
“We can run our large portfolio of properties efficiently thanks to a sophisticated tech platform that we have built in-house over the past years. Without much additional added complexity we can scale our portfolio multi-fold over the coming years.”