DoveVivo Buys Altido to Blend Co-Living With Short-Term Rentals
Photo Caption: A residence on Jermyn Street in London that's available for short-term rental via booking brand Altido. Source: Altido.
Skift Take
Skift has long pointed out that the lines are blurring among formerly separate categories in hospitality. The move to hybrid, or blended hospitality, has only sped up lately, as this latest merger highlights.
DoveVivo, a co-living company, said Thursday it is acquiring Altido, a short-term property management group. The European companies didn't disclose the terms of the deal that still faces regulatory approval.
DoveVivo, based in Milan, manages about 10,000 rooms as non-residential accommodation. U.S. fund Starwood Capital, managed by Barry Sternlicht and focused on real estate, recently took a minority stake in DoveVivo.
"The combination could be positive for demand generation with their target customers," said Simon Lehmann, CEO and co-founder of AJL Atelier. "They have a similar type of customer that they could essentially cross-sell to."
Altido runs more than 2,500 properties as professionally managed short-term rentals. It formed as a roll-up of four property management companies. It had ambi
