DENVER–(BUSINESS WIRE) – Life House – a technology-based brand and management company – has acquired the management contracts of IMPRINT Hospitality’s independent hotel portfolio, which includes a range of properties on the west coast. The transaction is Life House’s first M&A deal. More are expected to be completed in 2021.
Founded in 2017 by an experienced boutique hotel and technology team, Life House has transformed the complex hotel tech stack into a holistic hotel operating system that dramatically increases revenue and lowers costs for independent hotel owners. The company is backed by leading travel tech and private equity investors including Thayer Ventures, JLL, Tiger Global, Rocket Internet, Trinity Ventures, Sound Ventures by Ashton Kutcher and Guy Oseary, Blue Flag Partners and David Hamamoto. Today the company has signed 27 hotels, open or under development – 12 of which are labeled Life House.
The IMPRINT Hospitality portfolio includes unique independent hotels in inspiring locations on the West Coast, including the historic Taos Inn in Taos, New Mexico; Casa Secoya on the banks of the Russian River in Sonoma County, CA; Loyal Duke Lodge in Salida, CO; and Salida Inn and Monarch Suites in Salida, CO, among others, which will be announced at a later date. The hotels will operate with their existing independent branding, with Life House actively looking for opportunities to assign selected properties to one of its current or future lifestyle brands.
IMPRINT Hospitality was founded by hotel industry veterans Alexandra Walterspiel and Matthew Seim. Upon completion of the transaction, IMPRINT’s founders will join Life House’s advisory board and remain long-term owners of the properties through various affiliated investment vehicles.
“We are pleased to have found a like-minded and future-oriented partner in Life House who can significantly improve the performance of our portfolio,” said Alexandra Walterspiel, Managing Partner of IMPRINT Hospitality. “As we have become more familiar with Life House and its value proposition, it is clear that you are the right partner to manage our unique hotels, giving our team additional bandwidth to focus on future property deals in our target markets,” Matt added Seim, Managing Partner of IMPRINT Hospitality, added.
The deal is a commitment by Life House to its west coast expansion efforts following the opening of Life House Lower Highlands in Denver in November. With five other contracts currently under contract on the West Coast, Life House is rapidly expanding its network of independent and boutique properties throughout the United States.
“We are very excited to complete this transaction with IMPRINT Hospitality and their seasoned management team and look forward to helping hotel owners and our colleagues in the industry solve problems during these difficult times,” said Rami Zeidan, Founder and CEO of Life House. “Matt and Alex have been great to work with, and we’re excited to expand our presence in Colorado after opening our Denver hotel, while also entering strategic submarkets in California and New Mexico.”
Following the latest $ 30 million financing round, Life House and its partners are actively seeking additional M&A opportunities in the independent hotel businesses. Life House is optimally positioned to acquire asset light management companies from owners and operators who wish to focus their time and energy on real estate ownership. In this context, Life House can create a liquidity event through its management platform and add value to the property.
The transaction between Life House and IMPRINT Hospitality was facilitated by Destination Capital, a Denver-based real estate advisory firm led by Bryan Auchterlonie.
ABOUT THE LIFE HOUSE
Life House is a New York-based, venture-backed, and vertically integrated hotel branding, management, and software company. Life House has developed a proprietary technology stack to power a platform that makes hotels more seamless and profitable for hotel owners, and makes travel more meaningful and accessible to travelers. Life House operates and marks 4-star hotels and operates independent hotels across the chain.