WhyHotel rebrands itself as Placemakr and announces over $90 million equity investment

WASHINGTON, March 15, 2022 /PRNewswire/ — WhyHotel, a technology hospitality platform and operator, announced the rebranding of its company, now known as Placemakr. The rebranding comes with $90 million in equity investments raised for growth and real estate acquisitions. Along with these investments, the company has also secured committed capital towards its goal of $1 billion real estate acquisitions over the next 18 to 24 months. With $250 million of these real estate acquisitions finalized in 2021 and programmatic equity committed to acquire $750 million of ownership, Placemakr is poised to be one of the largest mixed asset holders of apartments and hotels in United States. In addition to driving expansion into new markets, starting with Placemakr Premier SoBro in Nashville, TN, the growth funding will be used to further integrate the best aspects of home and hospitality into a single experience. This positions Placemakr to meet the needs of a market that has changed and accelerated due to the Covid-19 pandemic.

The main driving force behind Placemakr is the belief that the future of hospitality lies in flexible living. As new societal norms are rapidly forming, such as remote working, consumer demand for flexible living options has grown rapidly. Placemakr serves the needs of the next generation of people living and staying, while simultaneously increasing property value and NOI for its real estate partners. Placemakr offers two types of products: a pop-up hotel experience that will now be known as WhyHotel, by Placemakr, and the company’s collection of hospitality properties. The latter, at different levels of equipment, will be known as Placemakr Premier, Placemakr and A Placemakr Experience. In addition to continuing to partner with property developers and investors through property management, the company will seek to expand its portfolio of owned properties, such as Placemakr Premier SoBro, under this new umbrella.

“When we launched the company, we envisioned a flexible future, where the needs surrounding where we live and how we travel converge. We realized this would create the opportunity to design a new class of real estate assets that connects the world of hotels and apartments and is more valuable than either product alone. Well, this future has come even faster than we imagined and has allowed Placemakr to to be the premier real estate brand, technology stack, operator and investor in this new world. We are excited to double down on our growth to cater to this market,” said Jason Foudin, CEO and co-founder of Placemakr. “By investing in our flexible platform technology, growing 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 from Nashville vibrant downtown scene. The luxury tower offers more than 300 units in total, of which a third will offer unfurnished residential apartments with hospitality amenities and the remaining units will be furnished for short and medium term stays from 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 high-end amenities such as a state-of-the-art fitness center and sauna, an outdoor pool and hot tub with downtown views, fire pits and gas grills, a lounge area including televisions, arcade games and a pool table and a 24-hour concierge. As the first Placemakr Premier location to launch, Placemakr Premier SoBro is a truly flexible experience tailored for today’s consumers.

To date, Placemakr has partnered with Davidson Kempner Capital Management, Gaw Capital and Bernstein Management Corporation for real estate investments, and has had traditional real estate players invest in the operating company, including Suffolk Technologies, Geolo Capital and JBG Smith. . As the company looks to expand its market throughout 2022, it continues to engage in new partnerships with real estate companies to grow. To view the renamed website and learn more, please visit [www.placemakr.com]

About Placemark
Placemakr is a flexible hotel life platform, property manager and property investor. Its technology 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 offer its guests and residents the flexibility to stay a night, a year, or anywhere in between. Visit placemakr.com to learn more.

6th North Agency for WhyHotel
Shayla Ridore
[email protected]

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SOURCE Placemark

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