Mint House Makes Acquires Locale to Dominate Residential Hospitality Offering
- Mint House, a residential hospitality operator, has acquired Locale, a company known for tech-driven accommodations in premium multifamily and apart-hotel properties.
- The deal, structured as a mix of cash and stock, is backed by additional investment from Mint House’s existing investors.
- With this acquisition, Mint House’s portfolio grows to 22 properties across 13 U.S. markets like Menlo Park (California), Madison (Wisconsin), and Phoenix (Arizona) while strengthening its presence in existing markets like Nashville, Dallas-Fort Worth, and Washington D.C.
- Locale’s Founder and CEO, Nitesh Gandhi, will join Mint House as a senior advisor and its employees will transition to the company.
- Mint House CEO Christian Lee positioned the deal as a timely move in an evolving lodging sector, stating that the industry is at an inflection point and that scaling up now is a strategic move.
About Mint House:
Mint House partners directly with property owners, transforming high-end multifamily units into tech-driven, extended-stay accommodations tailored for business travelers and long-term guests.
About Locale:
Locale is a residential hospitality company specializing in premium, fully furnished apartments and apart-hotels for short- and long-term stays. Founded in 2016, Locale has built its brand around tech-enabled, design-forward accommodations that blend the convenience of hotels with the comfort of home.
Snigdha’s Views:
- Mint House and Locale operate in the “flexible living” space, which refers to accommodations catering to both short-term and long-term stays.
- At its core, this is a growth-focused move, giving Mint House instant access to high-demand urban inventory.
- Integrating Locale’s tech—virtual check-in, ID verification, 24/7 concierge, etc, could also streamline Minth House’s operations, reduce costs, and enrich the guest experience. However, successful integration will be crucial to realizing these benefits.
- This deal is another sign of where the industry is headed, brands are merging, and partnering to keep up with growing regulations, travel trends, and guest expectations.
- Even Airbnb is expanding into “Airbnb-Friendly Apartments,” partnering with developers like Greystar to create legally compliant, multifamily STR units.
- For property managers aiming to scale, acquisitions can offer a fast track to growth, tech upgrades, and new markets. Staying competitive means adapting, whether through new models, partnerships, or a more professional approach.
Airbnb Sues New Orleans Over Enforcement Laws – But Could It Backfire?
- Airbnb is suing the City of New Orleans over new regulations that require short-term rental (STR) platforms to ensure the properties they list comply with city laws.
- The regulations in question are set to take effect in June and the city wants Airbnb to make sure that every listed property has a valid permit before it can be marketed on the platform.
- In its lawsuit, Airbnb calls New Orleans’ enforcement model “highly punitive” and argues that the city’s policies violate constitutional rights.
- The company argues that it shouldn’t be responsible for enforcing local policies, compared to social media platforms that aren’t held accountable for user-generated content.
- Airbnb also objected to handing over “confidential, sensitive, and private data,” including taxes, fees collected, and the number of bookings per property in monthly reports to the city.
- New Orleans officials argue they have the right to regulate STRs due to housing and illegal listing concerns, pointing to their impact on housing affordability and illegal listings.
- City Council President J.P. Morrell hinted that if New Orleans cannot effectively regulate short-term rentals, the city may consider banning Airbnb altogether.
Snigdha’s Views:
- Airbnb is suing New Orleans over regulations requiring platforms to verify property compliance with local laws, citing privacy concerns and arguing it’s not their responsibility to enforce regulations.
- In contrast, Airbnb has welcomed new EU-wide regulations that require data sharing with local authorities and random verification checks.
- The key difference is that EU regulations create a unified framework across member states, simplifying compliance, while New Orleans‘ rules are seen as more restrictive and localized.
- In both cases, Airbnb is required to share data with authorities, but the company views EU rules as more manageable than New Orleans’ requirements.
- Airbnb’s contrasting approaches reflect its strategy of adapting to different regulatory landscapes to protect its interests and market position.
- Despite differences, both situations involve ongoing negotiations between Airbnb and local authorities to balance tourism benefits with housing market concerns.
Madrid and Barcelona Mayors Take Opposing Stances on Short-term Rentals Amid the Housing Crisis
- The Madrid and Barcelona mayors’ debate in the European Parliament showcased their opposing approaches to the housing crisis.
- Madrid’s mayor, José Luis Martínez-Almeida, is advocating for increased housing supply through new construction, legal certainty for landlords, and distinguishing between social and affordable housing.
- Barcelona’s mayor, Jaume Collboni, is pushing for stricter short-term rentals (STR) controls, rent caps, and a full tourist rental ban by 2028.
- Collboni has also co-signed a letter with other European city leaders urging the EU to manage housing policy more directly and allocate funds effectively.
- This discussion comes as the European Union takes a more active role in housing policy, with Dan Jørgensen appointed as the EU’s first Commissioner for Energy and Housing.
- His role will be to promote transparency, support local governments, and establish more balanced STR regulations across the bloc.
- Airbnb has begun lobbying efforts, meeting with the EU’s new Housing Taskforce to position itself as a “constructive partner” in solving housing challenges.
Snigdha’s Views:
- The battle over short-term rentals in European cities is intensifying. While Madrid and Barcelona both acknowledge housing affordability as a crisis, their strategies are starkly different.
- Barcelona’s stance is more aggressive on STRs, while Madrid’s approach reflects a more supply-driven, development-focused solution.
- Short-term rentals added €19 billion to the EU’s GDP and supported 300,000 jobs in 2023, bolstering Airbnb’s argument that bans like Barcelona’s 2028 STR ban could hurt local economies and tourism.
- Dan Jørgensen’s appointment signals EU-level oversight on housing and STR regulations, meaning local governments may receive more funding and guidance on regulating STRs effectively.
- his appointment also suggests more coordinated (and potentially stringent?) regulations across member states
- If the EU sets standardized STR rules, property managers may finally see consistency instead of navigating wildly different regulations in each country—but stricter regulations could also follow.
- Will Madrid’s balanced approach prevail, or will Barcelona’s full ban set the standard? With the EU stepping in and Airbnb lobbying hard, the outcome will be crucial to watch.
