Startup lifestyle hotel brand Life House has announced a $100 million funding round from real estate development firm Blue Flag Partners. The New York-based hotelier, currently operating four hotels in the U.S., will use the capital to expand further into popular travel destinations, including the East Hamptons and Nantucket, as well as larger metropolitan cities.
The end goal is to outpace established market rivals like Ace Hotels, The Hoxton, and The Standard, according to CEO Rami Zeidan. Each of those hotel groups predate Life House’s founding in 2017, and have less than nine opened locations worldwide. Life House, on the other hand, aims to have 10 hotels opened by the end of the year, with 15 more in the pipeline.Read Complete Article