Urbandoor Launches First Online Corporate And Extended Stay Apartment Booking And Management Platform For The Multifamily Industry

Greystar Signs As Urbandoor's First Corporate Partnership Syndicating Hundreds of Listings Across The U.S.

News provided by

Jul 18, 2017, 11:30 ET

SAN FRANCISCO, July 18, 2017 /PRNewswire/ -- Urbandoor today launched the first corporate and extended stay rental booking and management platform for the multifamily industry. Through the Urbandoor platform, multifamily owners can sustainably increase NOI by listing their unoccupied inventory direct to higher demand bookings such as traveling executives, relocating employees, as well as corporate housing providers booking for their own clients. Urbandoor customers now have the freedom to browse and book a variety of extended stay travel and relocation properties in 600 markets across the United States, including New York, San Francisco, Los Angeles, Chicago and more.

As Urbandoor's initial partner, Greystar is now syndicating and operating its national corporate housing rentals through Urbandoor's platform, allowing for Urbandoor customers to instantly book select Greystar properties in the San Francisco Bay Area, Los Angeles, Houston, Dallas and Austin areas.

"Our vision is a world where booking corporate and extended stay rentals is easy and this is a major milestone in our journey," said Urbandoor's CEO and Co-Founder, Erik Eccles. "With the Urbandoor platform, multifamily operators can now benefit from the fast growing corporate and extended stay rental market and get a better lens into the corporate business occurring in their communities. By connecting multifamily owners to higher demand bookings, owners will have the flexibility to more competitively price their vacant units, allowing for a substantial increase in profits. Once booked, the Urbandoor platform seamlessly allows multifamily companies to operate that inventory with their existing on-site teams."

Different from the 'sharing economy', Urbandoor integrates with multifamily's existing systems and enables quick setup of vacant apartments through its integrated furniture and utilities programs. With simple onboarding, multifamily owners and operators can make apartments available to Urbandoor's high-demand corporate bookings with minimal work.

"We are excited by Urbandoor's innovative ability to allow our properties to directly provide corporate housing options for our otherwise vacant units," said Greystar Founder, Chairman and CEO, Bob Faith. "Their technology makes booking the stay simple for their corporate clients and simple for our onsite teams handling the hospitality functions. The benefit to our properties is additional highly profitable marginal revenue from existing vacant units. Once we roll this out across additional Greystar markets, companies looking for corporate housing will have access to participating communities in our over 415,000-unit portfolio of apartments, which would give us the largest corporate housing inventory globally."

About Urbandoor
Urbandoor's booking platform (urbandoor.com) offers companies a better solution to their typically unmanaged extended stay lodging. Urbandoor enables this through providing apartment owners, managers and corporate housing providers a better way to offer and operate serviced apartments for business travel and relocation. With 100% duty of care compliant inventory in 600 markets, Urbandoor provides a necessary alternative to hotels and vacation rentals. Founded in 2015, Urbandoor is the trusted way to find and experience serviced apartments.

About Greystar
Greystar is a leading, fully integrated multifamily real estate company offering expertise in investment management, development and property management of rental housing properties globally. Headquartered in Charleston, South Carolina with offices throughout the United States, Europe, Latin America and Asia-Pacific, Greystar is the largest operator of apartments in the United States, managing over 415,000 units in over 140 markets globally, with an aggregate estimated value of approximately $80 billion. Greystar also has a robust institutional investment management platform dedicated to managing capital on behalf of a global network of institutional investors with nearly $17 billion in gross assets under management including more than $8 billion of developments that have been completed or are underway. Greystar was founded by Bob Faith in 1993 with the intent to become a provider of world class service in the rental housing real estate business. To learn more about Greystar, visit www.greystar.com.