NUMA, the Germany-based hospitality brand, has acquired serviced apartment platform YAYS from real estate investment company Proprium.
Terms of the deal have not been disclosed, but a statement says the deal adds 489 units to NUMA's portfolio and claims the deal creates the leading player across Germany, Austria, Switzerland and the Benelux region of Belgium, the Netherlands and Luxembourg.
The statement said an additional 124 YAYS units in Frankfurt, Madrid and the Hague will further boost NUMA's presence.
NUMA said it now has €1.5 billion in real estate assets under management and almost 5,000 rooms and apartments across 28 cities in Europe. The acquisition of Amsterdam-based YAYS will increase the total units to more than 5,200.
Christian Gaiser, co-founder and CEO of NUMA Group, said, “Our mission is to create a new category in hospitality that meets the needs of modern consumers. We have only scratched the surface in terms of digitizing and enhancing the entire travel experience and are always striving to better connect our guests with their favorite cities.”
He added that YAYS brings a "very attractive and compatible portfolio ... in markets where NUMA is not present yet."
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Javier Perez-Lecumberri of Proprium said, “We acquired YAYS in 2017 with a view to back a strong platform in one of the most exciting sectors of hospitality [serviced apartments]. Over the past six years, the YAYS team has delivered outstanding performance, navigating through the ups and downs of a growing sector, including the unprecedented challenge of a global pandemic. As the sector matures, attractive opportunities for consolidation will continue to appear.”
Zachary Schwartz, CEO of YAYS Group, said, “This marks a pivotal moment for the YAYS story, which began more than 15 years ago, driven by a pioneering team spirit and strong connection to the Dutch market. While the company grew to a leading regional boutique player in Benelux and France, the company’s legacy of ingenuity and entrepreneurship drove more recent development, innovation and expansion beyond those original parameters.”
NUMA recently announced funding of $59 million and said it planned to put the investment towards expansion.