int House, a residential hospitality operator with long and short-term accommodations, acquired Locale, a player in the residential hospitality industry. The transaction consideration includes both cash and stock and Mint House investors are supporting the deal through the investment of additional capital. Other terms were not disclosed.
“The alternative lodging sector is at an inflection point and as we kick off 2025 we see this as a timely and strategic opportunity to scale,” Mint House CEO Christian Lee said in a statement. "Locale shares Mint House’s focus on a premium hospitality offering in high-end multifamily properties. This combination will leverage the strengths of both companies to drive greater scale, efficiency, and an enhanced offering for all guests. It also positions us as the premier partner for multifamily developers looking to maximize building profitability.”
Locale, founded in 2016, has built a reputation for thoughtfully designed accommodations that bridge the gap between hospitality and residential living.
“From day one, our mission at Locale was to provide exceptional, tech-driven stays in premium multifamily and apart-hotel properties,” said Nitesh Gandhi, founder and CEO of Locale. “Mint House shares that same high standard and I’m thrilled to join as a senior advisor to help drive growth and deepen our category leadership.”
Mint House is also expanding its footprint with new openings this year. The company recently announced the upcoming launch of its fourth location in Nashville, at Marathon Village, and will open its first location in Washington, D.C. in the spring. Locale’s acquisition adds to this growth, with planned openings in existing and new markets such as Menlo Park, Calif., Madison, Wis., and Phoenix. Locale’s properties will be rebranded and integrated into Mint House’s portfolio, bringing the company to a total of 22 properties in 13 markets, across the U.S., including:
- Austin, Texas
- Dallas/Fort Worth
- Denver
- Greenville, S.C.
- Houston
- Madison, Wis.
- Menlo Park, Calif.
- Miami
- Nashville
- New York
- Philadelphia
- Phoenix
- St. Petersburg, Fla.
Coming in 2025:
- Washington D.C.
As part of the transaction, all Locale employees will join Mint House.