Skift Travel News Blog

Blueground, the New York-based operator of furnished, flexible rentals for stays lasting 30 days or more, entered its first franchise agreement with real estate and hospitality company Mitsubishi Estate to introduce Blueground in Japan. 

This comes under Blueground’s partner network launched in summer 2023, to help the company expand beyond its current 15,000 apartments in 32 cities —Mitsubishi Estate will establish a network of 13,000 furnished apartments in major Japanese cities. Mitsubishi Estate will have access to Blueground’s toolkit that includes its proprietary technology, a dynamic pricing model, and the Guest App, and a dedicated implementation team. 

“We are excited to bring Blueground to Japan in collaboration with such a reputable partner,” Christos Misailidis, Blueground’s chief strategic partnerships officer said in a statement. “Mitsubishi Estate’s unparalleled understanding of the Japanese market combined with our innovative technology and expertise in flexible  stays guarantees the success of this new project.”

Blueground, founded in 2013, offers a curated global network of furnished rentals for extended stays. In May 2023, Blueground acquired German rival housing platform Nestpick to launch its partner network listing vetted third-party inventory — bringing over portfolios from companies including Kasa and Placemakr and now the Mitsubishi Estate. 

Greek startup Blueground has bought corporate housing specialist Travelers Haven to grow its footprint across the U.S.

Denver-based Travelers Haven sources apartments on-demand through its software and a network of vendors, giving it access to up to 20,000 U.S. cities.

Terms of the deal were not disclosed, but Travelers Haven reported $100 million of revenue in 2022.

Blueground focuses on urban centers, with apartments in 11 cities in the U.S. and 19 cities internationally. It said the combined organization will employ 1,200 people, and is expected to reach over $600 million in revenue in 2023.

Traveler’s Haven currently employs 100 people. “Nobody will be laid off following the acquisition, and their day-to-day work will not change as a result as the two companies will continue to operate independently for the near future,” a spokesperson said.

This acquisition is also expected to add more clients to Blueground for Business, its corporate service division for human resource and travel managers.