Passing Cloud receives $15m in investment
China: Shenzhen-based high-end boutique lodging company Passing Cloud has received at least $15 million [100 million renminbi] in strategic investment. The investment round was led by Jiangsu Wenfeng Group. Founded in 2015, Passing Cloud [or Po Xin Yun She in Chinese] creates “high-end boutique lodges” under a number of brands in China’s ancient cities, towns […]
The Laundry Rooms targets expansion in Canada
Canada: Luxury short-term rental property management company The Laundry Rooms has announced a partnership with brokerage firm Urban Reform Realty to source locations across Canada and develop the roll-out of its extended stay residential hotel model. Based in Waterloo, Ontario, The Laundry Rooms has an existing presence in five locations [including Quebec] which are currently under development, and […]
Tripadvisor to raise $300m through convertible note offering
US: Online travel site Tripadvisor has announced that it plans to raise $300 million in convertible notes via a private offering, in a move that may include “repayment of existing debts”. The issue of convertible notes is set to fund the costs of “capped call transactions and other general corporate purposes” and the private offering is due […]
Virdee partners with ASSA ABLOY
US: Virdee, an SaaS company serving the lodging, multifamily and commercial real estate industries, has announced that it has entered into the Certified Partner programme by ASSA ABLOY Global Solutions, a global leader in access solutions, to deliver a robust contactless check-in and mobile access solution to joint hospitality customers and third-party integrators. Virdee’s secure, […]
Holidaymakers posing as key workers to “hoodwink” hosts
UK: Hosts across the UK are reporting having to defend their accommodation reserved for emergency workers during the latest lockdown against increasing numbers of people with “dishonest” claims posing as key workers, in order to get a holiday. The Old Bike Shop serviced apartments received a booking from one guest using the letterhead and […]