Casai, LatAm Hospitality Tech Startup, Acquires The Brazilian Operations Of Q Apartments To Fuel 33x Annual Growth In Brazil

• After just three months of announcing its Brazilian launch, Casai has acquired the Brazilian operations of Q Apartments, multiplying its portfolio in São Paulo immediately.
• Casai also recently announced a partnership with a leading hedge fund to issue a Real Estate Investment Trust (REIT) focused on the short-term rental market in Brazil.
• According to Casai, these partnerships will contribute to an overall 33x annual 2021 growth rate.

Casai , a tech startup serving the hospitality market in Latin America, is today announcing the acquisition of the Brazilian operations of Q Apartments , a global leader in the corporate serviced apartment industry. This acquisition will allow Casai to multiply its Brazilian portfolio immediately and leverage its expertise in short-stay operations to meet the quickly recovering demand in the B2B segment. In addition, Casai will become the primary operating partner for Q Apartments’ business throughout the rest of Latin America.

Casai launched its brand in Brazil in May of this year, first in São Paulo, then in Rio de Janeiro two months later. Casai also teamed up with Navi , a leading hedge fund with >US$1.8B assets under management and extensive experience in equity and real estate strategies, and XP Investimentos to issue a publicly traded Real Estate Investment Trust (REIT) focused on short-term rentals. The REIT is expected to float on the Brazilian stock exchange by the end of 2021.

Even though these investment vehicles are common in the United States, REITs represent only 1% of investments in Brazil. For this reason, Casai’s partnership with Navi and XP sets a precedent in the Brazilian market. This will allow Casai to bring its seamless guest experience to more neighborhoods and cities in the country and prove to existing and future investors that the company is in it for the long haul.

"Brazil will be our biggest operating market by the end of the year. We have closed these long term alliances to bring us one step closer to our goal of redefining the way the world travels. We are honored that our partners have seen potential in our vision and recognize our shared standards for excellence,” explains Nico Barawid, CEO of Casai.

Casai stated that last quarter (Q2 2021) alone, its footprint in Brazil grew 5.5x. Leveraging this growth rate as a stepping stone, the tech company is now expanding further with the Q Apartments Brazilian portfolio acquisition and by managing the new properties monetized by the REIT with Navi. Casai operates hundreds of units across São Paulo's most exclusive commercial and residential districts including Jardins, Itaim Bibi, Pinheiros and Vila Olímpia. In addition, Casai operates in well-known areas like Copacabana and Ipanema in Rio de Janeiro. According to the company, this yields an overall 33x annual growth rate in the country in 2021.

With more than 65,000 apartments in its portfolio spread across 81 countries and 147 cities, Q Apartments combines industry expertise with local knowledge to create tailored solutions for a diverse range of businesses in its main markets, including Latin America and Europe. “We will combine our strength in corporate relocations with Casai’s operational expertise to continue to provide current and future guests with the best experience. We believe that Casai is the ideal partner thanks to its high quality portfolio and operational excellence, in addition to its exponential growth in Latin America,” explains Thiago Hahn, Chief Operating Officer for Q Apartments.

Casai’s business model consists of working directly with real estate developers and funds to deliver beautifully designed apartments in the best neighborhoods. Each unit is carefully curated and equipped with smart-home technology and local art to provide a unique experience to every Casai guest. Backed by world-class investors such as Andreessen Horowitz, Kaszek Ventures, and Monashees Capital, the company has around 600 apartments in its global portfolio operating in additional cities like Mexico City and Tulum.

Media Contact

Ilse Noguez

Communications Manager [email protected] +5217223501018