Silicon Valley-backed Life House launched a collection of lifestyle hotels that are experience-driven, locally-rooted, and accessible to everyone on October 30. The first two hotels are located in Miami’s Little Havana and South Beach neighborhoods. The company also unveils its proprietary technology platform, which provides a frictionless direct booking journey, mobile app, and social network for travelers.
Life House is founded by Rami Zeidan, a seasoned hotel and real estate executive and Yury Yakubchyk, a software entrepreneur. The company has raised $70 million in funding to date between venture and real estate capital, with investment from Global Founders Capital, Comcast Ventures, Trinity Ventures, Henley Investments, among others. As the first US-based lifestyle hotel company to be backed by venture and real estate capital, Life House is positioned to modernize an antiquated industry.
“The problems in the hotel industry are multi-faceted and stem from technology and real estate —not solely price, or solely experience,” said Zeidan. “The ability to bring prices down and improve the guest experience requires a holistic solution to the technology, real estate, operations, and branding. Life House is focused on all of these components, and our capital and expertise provide us with the opportunity to make it happen.”
Life House remains asset-light and signs long-term management agreements instead of leases, a rarity in Silicon Valley. Despite the popularity of leases in the real estate tech space, the company is being cautious of signing leases with mismatched duration in a cyclical hotel market. This approach allows the company to scale its revenues without increasing its expenses, much like a SaaS product.
To power the company’s digital marketing, pricing and distribution, finance and accounting, and on-property operations, Life House created its own technology platform, a single hub of data that can be used to nimbly target the right customers, and innovate as needed. In addition to the back-end technology, the company offers an intuitive and branded booking experience, akin to what modern consumers have become accustomed to from other direct to consumer brands.
An industry first, and one of Life House's most defining features is its social network—a product that allows guests traveling on the same dates to opt into an online community where they can make plans, meet spontaneously, join forums based on interest, and ultimately meet in person on-property. Additionally, verified local members will belong to the community to foster community and conversation between guests and locals, and organize events and activities.
For more information, visit www.lifehousehotels.com.
Source: Life House