Outsite Lands Private Equity Backing for ‘Social Extended Stays’ – Exclusive
Photo Credit: Santa Teresa Maramar Costa Rica Outsite
Skift Take
The loneliness epidemic has become a concern in the West, and Outsite is positioning itself as a commercial remedy for travelers that's partly fueled by a paid subscription program.
Outsite, a hotel brand focused on "social extended stays," has secured an investment from Limestone Capital, a private equity firm, the companies told Skift exclusively on Tuesday.
Outsite, which has 40 hotels worldwide, is less notable for its size than for its novel attempts to fight the loneliness crisis and develop paid memberships.
"We're creating a new category, social extended stays," said co-founder and CEO Emmanuel Guisset. "It's a bit like a hostel for professionals, except that guests have private rooms instead of bunk beds."
"People are cooking together," he said. "People are working alongside each other. A community organizer helps support social activities."
Outsite and Limestone didn't disclose the size or terms of the deal. The investment includes equity in the hotel brand, a separate real estate vehicle to acquire more properties, and a credit line.
Limestone Capital, with roughly $1 billion in hotel assets, special
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