Eterniti, a luxury rental and property management group focused on villas and ski chalets, has raised €30 million targeted for international expansion and operational improvements.
The capital infusion from Amethyst III, a fund under Limestone Capital, brings the company’s total funding to €50 million, including an earlier €20 million investment.
Eterniti intends to use the funds to expand “selectively," targeting high-demand destinations, the company said. It also plans to improve its operational infrastructure, guest experience and technology platform.
Currently the company manages 800 rentals across 25 locations in the U.S., Europe and the Caribbean. In each destination, Eterniti offers a fully integrated property management and hospitality model with a local operational presence.
The company operates three contemporary brands—Bo House, Verbier Exclusive and Emerald Stay—all targeted at specific categories in the luxury travel sector.
“In luxury hospitality, service excellence alone is not enough if the underlying product is not perfectly maintained,” said Maxime Friess, co-founder and CEO of Eterniti. “If something needs fixing during a guest’s stay, our teams can intervene efficiently. This operational infrastructure is what truly differentiates us from traditional rental agencies.”
Eterniti said it has doubled its revenue year over year for the last four years. During that time it remained profitable.
“This investment reflects our continued conviction in Eterniti’s vision and execution, and in its potential to become the global leader in luxury vacation rental management,” said Benjamin Habbel, founder and managing partner of Limestone Capital. “We are also strongly convinced by the structural growth of the €240 billion luxury hospitality industry, the fastest-growing segment in travel, with an expected CAGR [compound annual growth rate] of approximately 10% over the next five years.”