Placemakr Raises $90 Million for Next-Gen Lodging Including Hotel Pop-Ups
Photo Caption: The interior of the Placemakr Premier SoBro, an apartment complex in Nashville, Tennessee, owned by the startup Placemakr. Source: Placemakr.
Skift Take
What performs better financially than a hotel, on average? A hybrid model of lodging that mixes short-term and long-term stays, according to Placemakr. Is the startup genius? Or is it trying to do too much?
WhyHotel, a next-generation lodging operator, said on Tuesday it had closed a $90 million round of venture equity funding — and that it had rebranded as Placemakr.
"Our thesis is that hospitality and multi-family residential are going to come together over time, especially in urban markets, because it creates a lot of value for the owners and the customers," said co-founder and CEO Jason Fudin.
Before today, the Washington, D.C.-based startup Placemakr had raised $37 million in venture funding.
It said on Tuesday it had also received commitments for up to $750 million in programmatic equity — a type of non-debt financing— that it will use to acquire more blended apartment and hotel assets.
Its financial partners include Davidson Kempner Capital Management, Gaw Capital, Bernstein Management Corporation, Suffolk Technologies, Geolo Capital, and JBG Smith.
While Placemakr began with pop-up hotels, it has since broadened its sc
