Cosi, a new Berlin-based startup operating in the hospitality space with an alternative to boutique hotels and managed short-stay apartments, has picked up €5 million in seed funding pre-launch.
To offer a “full-stack” hospitality service that hopes to compete with well-run boutique hotels or traditional local managed apartments, Gaiser says the company signs long-term leases with property owners, and then furnishes those apartments itself to “control” the interior design experience. “On top of that, we offer a digital service along the entire guest journey from initial contact to loyalty. Finally, we rent out our apartments short-term as a hotel replacement,” he explains.
There are potential U.S. competitors, too, with Sonder and Lyric operating a similar model. “They might also look into Europe,” concedes Gaiser, “[but] it will be challenging for them to comply with local regulations and to establish real estate relationships. It is a very local game.”
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