Property management company Kasa, which focuses on boutique hotels and apartment-style lodgings, has raised 40million.Thecompanywillusethenewfundingtoinvestintechnologyandartificialintelligence(AI)topoweritsproprietaryhospitalityoperationssystem.“Wearebuildingabetterwaytooperatehospitalityproperties:onethat’slighter,smarter,andmoreprofitable,”saidRomanPedan,founderandCEOofKasa.“Thisfundingallowsustodoubledownoninvestinginsystemstodriveperformanceforourpartners.”SilverLakeWatermanledtheraiseforKasa,asitpartnersrealestateownerstoimprovefinancialresultsandimproveguestexperience.KasaalsohaspartnershipswithStarwoodCapital,Berkshire,GreystarandPrudential.Kasaoperatesover85propertiesinmorethan45marketsacrosstheUnitedStatesandhasmorethan100 million in annual booking revenue, having more than doubled its business in the past year. (View Highlight)
Pedan said that Kasa aims to give independent hoteliers access to technology and operational backbone that’s traditionally been available only to the larger hotel brands.
“Kasa has a deep understanding of the challenges facing independent hoteliers,” said Shawn O’Neill, managing director at Silver Lake Waterman. “Every part of Kasa, from pricing to guest support, is built with their owners and guests in mind.”
O’Neill said his team is looking forward to working with Kasa to scale their platform. (View Highlight)
