Finnish tech-driven hospitality provider has acquired its Estonian competitor
Finnish climate-neutral, sustainability-focused technology company Bob W acquires its Estonian competitor Estonishing Stay Apartments which is the Finnish company’s first acquisition. Estonishing Stay Apartment is one of the largest operators that provide short-stay apartment services. The Helsinki-based startup’s marketplace brings the best features of home and hotel together. This way, it offers a high-quality experience during short-stay accommodations. By joining the forces, two startups are expecting to dominate the market in Estonia.
Bob W acquires regional competitor Estonishing Stay, becomes market leader in
Bob W has acquired Estonia’s largest short-stay serviced apartment operator, Estonishing Stay Apartments, thus tripling their coverage in Estonia. Bob W is a tech-driven hospitality provider offering a smarter alternative to hotels and short-stay rentals. Backed by venture capitalists and real estate investors, they currently operate in Estonia, Finland, Spain, and the UK with publicised expansion to Germany and the Netherlands.
Despite being founded just before the pandemic, Bob W has quickly grown to become a rising star in the hospitality space, growing revenues a staggering 18X year on year along with healthy unit economics and the happiest customers on the market (4.8/5 average ratings since inception). Bob W has more than 1200 signed apartments in its pipeline representing an excess of 37M EUR in annual revenue potential, across 28 properties in 15 cities across Europe. They service consumers as well as companies, including international startups and next generation companies in fields such as tech and creative industries.
Bob W is actively expanding across Europe and is looking to grow across markets with real estate partners and investors. Estonishing Stay marks Bob W’s first acquisition and the beginning of a ramp-up in their M&A efforts in the Baltics and beyond.
“We’re pleased to join forces with Bob W since we share the vision for a new category of hospitality. We’re looking forward to working together to expand our real estate network regionally with new real estate investors,” tells Gerdi Arst, Co-founder at Estonishing Stay.
“Team ESTonishing is a strong believer in smart digital services combined with superb virtual customer service. With our new joint team, we can provide better solutions both for our investors, and also customers,” adds Evelin Org.
Bob W CEO and Co-founder Niko Karstikko is equally excited about the acquisition: “We’re really lucky to have Estonishing Stay join the Bob W family. We’ve got an amazing pool of talent and properties between us, and we’ll be leveraging Bob W’s technology, resources, and capabilities to improve the performance of these assets.”