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REAL ESTATE - COMPANY NEWS

Leading Hospitality Tech Company blueground Launches in United States with Plan to Transform Country's Property Rental Market

Wednesday, July 11, 2018

(PRNewsfoto/blueground)

(PRNewsfoto/blueground)

REAL ESTATE - COMPANY NEWS

Source : blueground

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blueground, a leading hospitality tech company, has officially launched in the United States. The company today announced it has leased 100 apartments in New York City, and plans to add another 600 units to its portfolio by the end of 2018.

Established in 2013, blueground leases carefully selected, high-quality properties, upgrades them into best-in-class rentals, and offers them to renters looking for a turnkey living solution. The company, which is partnering with prominent New York property owners and management companies such as Related Rentals, Stonehenge NYC, Clipper Equity and Pinnacle City Living, is offering apartments in sought-after neighborhoods, including Chelsea, Midtown West, Tribeca, SoHo, West Village and the Financial District.

Keeping in mind people's growing desire to increase flexibility and mobility without sacrificing comfort and luxury, the company is building a network of convenient, fully furnished, beautifully designed apartments in cities around the globe. For the landlords and property management companies that it partners with, blueground is providing an easy and cost-effective solution for leasing unoccupied units. The company leases multiple units before they hit the market, with an aim to continue leasing them for many years, ensuring landlords have 100-percent occupancy for the full duration of the rental agreement.

"Using blueground to fill units ensures steady cashflow and value-added financing solutions that maximize a property's annual yield," said Alex Chatzieleftheriou, CEO and cofounder of blueground. "Our vetted business executives stay for a minimum of one month, and an average of seven months, and blueground is liable to the owner for any potential damages incurred at a space. Additionally, we engage in flexible contracts that allow landlords the option to take their property back for other uses with short-term notice. We look forward to continuing to build on the trust we have received from property owners and managers in New York as we move toward making blueground available in other U.S. cities."

In addition to New York, blueground currently offers apartments in San Francisco, Dubai, Istanbul and Athens. To date, more than 1,000 apartments are a part of the blueground network, and the company has plans for aggressive expansion into other major U.S. markets, including Los Angeles and Chicago.

"blueground is transforming the experience of big city living around the world, and New York City is primed for change," said Saad Cheema, general manager of blueground NY. "As a hub for international business and operations, New York hosts thousands of people in need of medium-term or long-term accommodations. The current stock of corporate housing in the city has left much to be desired, and we are filling a crucial gap by providing modern, tech-enabled residences."

Raising the bar for what long-term travelers can expect from a residence, all of blueground's fully furnished apartments are curated by a team of professional designers, and feature modern and practical amenities and custom-made settings, including designer sofa sets, dining tables and chairs; five-star-quality hotel mattresses, linens, and towels; handmade carpets; and high-end gadgets such as smart TVs and coffee makers. No matter the duration of stay, blueground tenants save the cost and trouble of buying furniture, while living in a decorated apartment that, on average, is larger than the typical hotel room.

Utilizing technology, blueground automates all aspects of the experience. Once the online reservation is made, tenants have access to guest support through the blueground app. Value-added services are available including cleaning, maintenance, bill payment and an easy relocation function that allows guests to experience new apartments in neighborhoods across the city.





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