MUNICH - limehome, leading technology-based provider and operator of fully digitalized design apartments in Europe, draws a very positive balance of the completed fiscal year 2022.
Cesar de Sousa Freitas and Dr. Josef Vollmayr
In 2022 limehome opened new serviced apartments in 24 cities in Germany and Europe. This gives the Munich-based company over 3300 opened and planned suites in more than 110 locations in Germany, Austria, the Netherlands, Belgium, Spain, Portugal and Hungary.
In Germany, limehome completed its presence in all German A-cities with the opening in Düsseldorf. With signings in Amsterdam, Barcelona, Budapest, Vienna and Porto, the company was able to further expand its presence in European tourist metropolises in 2022.
The start-up increased its revenue by more than 200 percent in 2022
limehome more than tripled its revenue in all four quarters compared to 2021. Despite significant investments in new locations, the technology platform and brand experience, the hospitality provider was already able to show a positive EBITDA result from the middle of the year. This occurred significantly earlier than planned and is not the norm for growth companies in this phase.
The average occupancy rate for the year across all sites was 90 percent, well above the industry average for the year of around 60 percent. The year-on-year increase in demand and the higher price level were reflected in a more than 50 percent increase in RevPar. limehome also grew dynamically in terms of personnel. The number of employees increased from 150 (Q1) by almost 40 new employees at the end of Q4. In the fall of 2022, limehome also gained two internationally recognized experts in Daniel Hermann as Vice President Expansion and Daniel Garner as Vice President Brand & Product.
limehome enters the new financial year with around 45 million euros in growth capital. In the fall of 2022, existing investors HV Capital, Picus Capital and Lakestar renewed their investments. AW Rostamani Group and Capital Four also invested in the hospitality company for the first time.
New growth capital for Europe-wide expansion
limehome plans to use the capital raised for expansion in existing markets, new markets such as Portugal and Italy, and strategic acquisitions of existing operators. The hospitality tech also intends to use the funds to further expand the scalability and high service level of its own technology platform.
"We are delighted with the successful completion of fiscal year 2022. We have achieved our ambitious goals despite a challenging year for the industry, proving once again how great the potential of our business model is. This is a strong signal to the market," says Cesar de Sousa Freitas, CEO of limehome.
"Thanks to our consistently technology-based approach, we were able to continue our rapid growth course in 2022 and confirm the trust of our customers, partners and investors. This is something we are proud of. With the successes of the past year, the limehome team has created an excellent basis for the coming year," adds Dr. Josef Vollmayr, co-founder and CEO of limehome.
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