More disruption is to be expected in the global rental accommodation scene as two of Asia and Europe’s biggest flexible living players combine force.
Hmlet, Asia’s leading flexible living company based in Singapore, Hong Kong and Japan is merging with Habyt, the leading player in Europe, to create the first truly global company catering to the fast-growing flexible living sector. The new Habyt group will continue to seek growth opportunities in new markets and living segments to deliver on its mission of driving a revolution in the living industry, enabling people to live effortlessly and flexibly anywhere across the globe.
Flexible living allows members the opportunity to move effortlessly between locations and connect with likeminded communities wherever they go, for long or short stays as they choose. With the onset of the global
“The pandemic has allowed many to choose where they live without being tied to a physical office.”
pandemic, the ability for many to choose where they live without being tied to a physical office has created a huge opportunity for the industry.
ii. Joshua Li, Chief Real Estate Officer of Hmlet
Hmlet is currently based in Singapore, Hong Kong and Japan, with rooms under management on track for 2,300 by year-end.
The newly combined Habyt group will manage over 8,000 units worldwide, accommodating over 15,000 customers each year in 10 countries and 20 cities. Hmlet will continue to operate under the same brand name but form part of the new global Habyt group.
“The industry is expected to grow by 300% in 2022.”
The company has recently closed a funding round to power this growth from existing investors led by Burda Principal Investments and Sequoia Capital India as well as one new investor Sasscorp, all of whom will be shareholders in the new Habyt group. The round is also participated by Vorwerk Ventures, Aldea Ventures and Inveready. This funding, coming as a precursor to an upcoming large Series C that is in the plans, will allow the company to continue deepening its footprint within the core markets and to expand presence in new gateway cities in the Asia Pacific region.
New Accommodations
Hmlet has just launched Hamilton, a new building in Singapore, comprising a row of eight conservation shophouses, 68 rooms, that have been completely refurbished. The property had a pre-opening occupancy of 78% and was fully occupied by the second month of opening.
Hmlet has also signed three new buildings in Hong Kong – Hmlet Knight on Wyndham, Hmlet Portland Street and another centrally located hotel, all projected to open in Q2 this year. Hmlet has a track record of above 90%occupancy rate in Hong Kong.
Hmlet provides its tenants a choice of furnished rooms or full apartments to co-live or live privately based on their budget, duration of stay, and stage of life. Similarly, Habyt offers fully furnished, fully serviced private and shared accommodation globally. APR
