WhyHotel, a start-up accommodation company that furnishes vacant apartments and leases them to short-term guests, announced it has secured $3.94 million in seed funding.
Apartments usually are vacant for one to two years after they’re first built and waiting to be filled by long-term tenants. WhyHotel provides a way for developers to take the risk out of their lease and turn to profit what would otherwise be idle capital.
Furthermore, WhyHotel offers long-term renters in the building the benefit of an on-site hotel to host their friends and family at rates half the price of a traditional hotel booking, WhyHotel sites are supported by 24/7 on-site hospitality staff, freeing up the building’s property management team to focus on long-term residents.
“At WhyHotel, we offer fully furnished apartments that combine the luxuries of home, the services of a hotel, and the amenities of a newly built apartment building,” said Bao Vuong, President and Co-founder of WhyHotel.
“Our brand specialises in creating fresh experiences. Not only are the units and amenities gorgeous and new, but the experience is how modern hospitality should be. From ordering fresh towels from our Alexa-enabled rooms to the ability to cast any device onto each rooms TV, we are constantly working to create an unmatched experience for our guests.”
The company currently operates one site, WhyHotel Baltimore, which opens June 29, 2018