B2B Online Furnished Apartment Rental Company

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Asking Price:
$1,775,000

Gross Revenue:
$5,528,514
Cash Flow:
$502,877
EBITDA:
$502,877
Inventory:
 Not Disclosed
included in asking price

FF&E:
$7,000
included in asking price

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Business Description

Specialty online furnished apartment rental company catering primarily to business travelers and others needing temporary furnished apartment space (no real estate included).

Company is based in a major mid-Atlantic city.

Industry is growing rapidly as AirBNB is driving broad awareness of furnished rentals for leisure and business travelers. Company is a perfect stand-alone acquisition, add-on play, or platform for subsequent industry roll-up. Owners have agreed to leverage their industry-wide contacts and their personal industry recognition and reputation to assist strategic buyer in executing a roll-up strategy.

Recent WSJ article (6/26/18) showcased the continued growth in the market. "Last year, revenue in the corporate-housing market—where apartments are typically leased for at least 30 days—rose 13% to $3.62 billion, according to the Highland Group, a hotel consulting firm that studied the market for the Corporate Housing Providers Association, a trade group. It was the fifth consecutive year of growth".

Company has 20+ years of uninterrupted profits and strong cashflow, a stable management team, and sterling industry reputation and recognition. Average five year adjusted EBITDA of $560,000.

About the Business

Year Established:
1998
Number of Employees:
7
Relocatable:
Yes
Real Estate:
Leased
Building Sq. Ft.:
2,000
Facilities:
Centrally located standard office space
Market Outlook/
Competition:
Market is bifurcated into large, national competitors and local players who are generally a similar size or smaller than this company
Growth & Expansion:
Launching a revamped website and real-time booking engine to address increasing trend toward self-booking
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About the Sale

Reason For Selling:
Owners have other investments in areas non-related to this company
Training/Support:
Up to one year

Listing Info

ID:
1504547
Ad Detail Views:
1402

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Business Listed by

Rebecca Dunn

Sugaer, LLC

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Source: American Community Survey (2010-2014), United States Census Bureau.

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