Mint House, a New York-based tech-enabled residential hospitality company, raised $35M in Series B funding.
The round was led by Mohari Hospitality, with participation from Revolution Ventures, Allegion Ventures and Ingleside Investors. In addition to its investment, Mohari Hospitality’s Managing Partner, Allen Smith, the former President and CEO of Four Seasons Hotels & Resorts, will join Mint House’s board of directors.
The company intends to use the funds to continue to expand its operations and business reach following growth over 200% in 2021 and tripling of its property count over the last two years.
Founded in 2017 by Will Lucas, CEO, Mint House is a residential hospitality company that offers accommodations powered by technology. The properties are designed with full kitchens, expansive living areas and connected workspaces in prime downtown locations. The proprietary tech stack and mobile-first model powers a feature-rich guest experience including mobile check-in and keyless entry, pre-stocked groceries, 24/7 digital concierge services, on-demand fitness, smart thermostats and shoppable spaces. Its asset-light operating strategy – driven by long-term management agreement structures – differentiates its business model from traditional leases.
The company currently operates 22 properties in 14 markets, including Mint House at 70 Pine – New York, which was recently ranked the #1 hotel in the U.S. by TripAdvisor, and the #1-ranked four-star hotels in Miami, Nashville and Greenville on Booking.com.
FinSMEs
05/05/2022