Hospitality operator Numa Group has bought serviced apartment platform Yays from Proprium Capital Partners for an undisclosed amount.
Headquartered in Amsterdam, Yays operates 489 units in the Netherlands, Belgium and France and has a pipeline containing properties to be opened in Madrid, Frankfurt, and The Hague with additional 124 units.
The transaction was supported by DLA Piper, CBRE and EY on the sell side and Greenberg Traurig, Taylor Wessing and Eight Advisory on the buy side.
Numa Group recently reached €1.5bn in real estate assets under management and currently has over 4,700 rooms and apartments across 28 major European cities. Yays will add approximately 20 percent new units to Numa’s live property portfolio, bringing the total to over 5,200 units.
Numa claims its technology, pricing tools, and utilisation of anonymised data drives both operational savings and higher revenues.
What they said
Christian Gaiser, CEO and co-founder of Numa Group, said: “Our mission at Numa is to create a new category in hospitality that meets the needs of modern consumers. We have only scratched the surface in terms of digitizing and enhancing the entire travel experience and are always striving to better connect our guests with their favorite cities”.
Javier Perez-Lecumberri of Proprium said: “We acquired Yays in 2017 with a view to back a strong platform in one of the most exciting sectors of hospitality (serviced apartments). Over the past six years, the Yays team has delivered outstanding performance, navigating through the ups and downs of a growing sector, including the unprecedented challenge of a global pandemic. As the sector matures, attractive opportunities for consolidation will continue to appear. We have followed the Numa success story for some time now, and we are convinced that the combination of Yays and Numa will generate value for both guests and real estate partners.”