Domio, a NYC-based technology hospitality company focused on the apartment hotel, acquired Chicago-based Reserve Rentals, for $1.4M.
The acquisition will enalbe Domio to expand its apart-hotel accommodations to Chicago. The acquisition will give the company instant access to its eighth market in America. Reserve Rentals’ 32 multi-room, units will join existing properties on its platform in Austin, Nashville, San Diego, Boston, New Orleans, New York City and Honolulu, which have hosted more than 80,000 guests to date.
The Reserve Rentals real estate team, led by co-founders Grant Hosking and George Savaricas, which primarily offers two and three-bedroom leisure and business travel rentals in the Loop, South Loop and Gold Coast, will also join the Domio team with the goal of expanding its presence in Chicago to 500 units by early 2020.
Led by CEO Jay Roberts, Domio is a travel technology platform providing a branded apartment-hotel concept.
The acquisition comes a week after the company announced a $12m investment from Tribeca Venture Partners, with participation from SoftBank Capital NY and Loric Ventures.