WhyHotel Rebrands as Placemakr, Announces over $90M in Equity Investment

Tech-enabled hospitality platform and operator expands its brand and business model to meet the evolving needs of a market changed by the Covid-19 pandemic

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Placemakr

Mar 15, 2022, 09:00 ET

WASHINGTON, March 15, 2022 /PRNewswire/ -- WhyHotel, a tech-enabled hospitality platform and operator, announced the rebrand of its company, now to be known as Placemakr. The rebrand comes alongside $90M in equity investment raised for growth and property acquisitions. In conjunction with these investments, the company also secured committed capital toward its target of $1B of property acquisitions over the next 18-24 months. With $250M of those property acquisitions completed in 2021 and programmatic equity committed to acquire $750M of property, Placemakr is on pace to be one of the largest holders of blended apartment and hotel assets in the United States. In addition to driving expansion in new markets, beginning with Placemakr Premier SoBro in Nashville, TN, the growth financing will be used to further integrate the best aspects of home and hospitality into one experience. This positions Placemakr to meet the needs of a market that has shifted and accelerated due to the Covid-19 pandemic.

Placemakr's key driver is the belief that the future of hospitality lies in flexible living. As new societal norms form quickly, like remote work, consumer demand for flexible living options has rapidly increased. Placemakr is fulfilling the needs for the next generation of living and staying, while simultaneously increasing property value and NOI for its real estate partners. Placemakr offers two product types: a pop-up hotel experience which will now be known as WhyHotel, by Placemakr, and the company's collection of hospitality living properties. The latter, at varying tiers of amenities, will be known as Placemakr Premier, Placemakr, and A Placemakr Experience. In addition to continuing to partner with building developers and investors through property management, the company will look to expand its portfolio of owned properties, like Placemakr Premier SoBro, under this new umbrella.

"When we started the company, we envisioned a flexible future, where the needs surrounding where we live and how we travel converge. We realized that this would create the opportunity to engineer a new real estate asset class that bridges the hotel and apartment world and is more valuable than either product alone. Well, that future came even quicker than we imagined and has allowed Placemakr to be the premier brand, tech-stack, operator, and real estate investor in this new world. We are excited to double down on our growth to meet this market," said Jason Fudin, CEO and Co-founder of Placemakr. "By investing in our flex platform technology, scaling our operations, investing in our brand and expanding our portfolio of owned and managed real estate, we are positioning the company to be the leader in what promises to be a multi-trillion dollar asset class."

Placemakr Premier SoBro is located in the heart of Nashville's energetic downtown scene. The luxury high-rise offers over 300 total units, one-third of which will offer unfurnished residential apartments with hospitality amenities and the remaining units will be furnished for short- and medium-term stays beginning in July 2022. The property is minutes away from many local attractions such as: Bridgestone Arena, Nissan Stadium, Music City Center, Schermerhorn Symphony Center, Ascend Amphitheater, Ryman Auditorium, John Seigenthaler Pedestrian Bridge, Lower Broadway, and Riverfront. The building itself offers top-tier amenities such as a state-of-the-art fitness center and sauna, outdoor pool & whirlpool with downtown views, outdoor fire pits and gas grills, lounge space including TVs, arcade games, and pool table and a 24-hour concierge. As the first Placemakr Premier location to launch, Placemakr Premier SoBro is a truly flexible experience custom-designed for today's consumers.

To-date, Placemakr has partnered with Davidson Kempner Capital Management, Gaw Capital, and Bernstein Management Corporation on real estate investments, and has had traditional real estate players invested in the operating company including Suffolk Technologies, Geolo Capital, and JBG Smith. As the company seeks market expansion throughout the remainder of 2022, it continues to engage in new partnerships with real estate firms for growth. To view the rebranded website and learn more please visit [www.placemakr.com]

About Placemakr
Placemakr is a flexible hospitality living platform, property manager, and real estate investor. Its tech-enabled operating platform allows the company to blur the line between hospitality and home, delivering the best experiences of both in a single building. Placemakr's curated spaces in hand-picked neighborhoods allow its guests and residents the flexibility to stay for a night, a year, or anywhere in-between. Visit placemakr.com to learn more.

North 6th Agency for WhyHotel
Shayla Ridore
[email protected]
401-464-1772

SOURCE Placemakr