AUSTIN, Texas, April 16, 2019 /PRNewswire/ -- Locale, an Austin-based aparthotel brand, today announced it has secured $2.5 million in Seed Round funding led by Amplo and Susa Ventures.
This is Locale's first funding round since launching in Austin in late 2016. Locale has since expanded to Houston and Nashville, now leasing and managing more than 150 furnished apartments for short and extended stays. With the new financing, the company will focus on enhancing their product through accommodation and technology upgrades, growing brand awareness and expanding into new markets.
Locale has planned expansions with developers of upscale Class A multifamily properties in San Francisco, Houston's Texas Medical Center, Santa Monica, and Denver, which will be available for bookings in Fall 2019.
"What attracted me to Locale is how thoughtful they are in building the next generation of accommodations," said Sheel Tyle, founder and CEO of Amplo. "Locale is redefining the short-term rental category by introducing a premium, boutique apartment hotel brand centered around well-designed, locally curated and hospitality-driven accommodations."
Founder Nitesh Gandhi, a seasoned hotelier, has brought his first-hand industry knowledge about building a loved hospitality brand, and that means being intentional at every touchpoint. With Gandhi's creative direction, Locale hits the mark both on form through hotel quality linens, locally roasted coffee, smart appliances, contemporary furnishings and function by instantly confirmed reservations, keyless entry with built-in security systems, and 24/7 guest service.
"We're excited that our investors and partners share our vision for bringing a premium aparthotel brand to the market, something that delivers a consistently higher quality guest experience than what's provided by the current group of short-term rental operators," said Nitesh Gandhi, Founder and CEO of Locale. "Locale is addressing the evolving needs and desires of today's business and leisure traveler, who seeks intentionality in their travel experience. From an elevated in-room design to high quality product partners, we're curating a unique experience that will elevate the Locale brand and bring much needed differentiation to this category of accommodations."
Behind the scenes, the company is committed to working with local governments and only operating within commercial and mixed-use zones. Locale partners directly with real estate developers, owners, and lenders to determine where Locale's business model will work best for the building, its residents, the brand, and neighborhood.
"Locale is best in class. We have worked with lots of different short-term rental operators and they are by far and away the most professional and effective," said Brian Dinerstein, President, The Dinerstein Companies. "They have an owner's mentality and are focused on adding long-term value to our properties."
Locale has grown its team to over 25 people, hiring top talent from the hospitality and real estate industries. Recent senior hires include Keith Amaker, Director of Guest Experience, formerly at the Four Seasons and TurnKey; Jim Hill, VP of Sales formerly at Hilton and TravelClick; Heather Haberkorn, Director of Revenue Management formerly at InterContinental Hotels Group, and Boyce Rigby, Director of Real Estate, formerly at Stream Realty Partners and ARA.
Locale is a hospitality-driven, boutique aparthotel brand that creates and manages thoughtfully designed, furnished apartments for leisure, business, and extended stay travelers. Locale partners with owners and developers of modern, urban apartment buildings in the best neighborhoods to offer Locale guests the amenities of an upscale boutique hotel with the freedom and comfort of residential living. For more information, visit StayWithLocale.com, and follow us on Facebook and Instagram @StayWithLocale.
Amplo is a global venture capital firm helping build companies that matter. Amplo portfolio companies include Robinhood, Andela, and Two Chairs.
About Susa Ventures
Susa Ventures is an early stage technology fund investing in entrepreneurs building defensible products, technologies and tools that create, capture, distribute and leverage proprietary and unique data. For many of our investments, data is an enabling platform as well as a monetization engine.