Nov 15, 2019

Cozystay , avacation rental platform serving Chinese travelers, has added its first propertiesin China with the acquisition of Oak Properties. Oak Properties, which willcontinue to operate under that name, manages about 300 private rentals in Chinain cities including Taiyuan, Tianjin and Suzhou. “We’ve had an incredible year ofrapid growth, and Cozystay’s reputation has been gaining major recognition withChinese tourists,” says Galen Cheng, CEO of Vancouver, Canada-based Cozystay. “While most of our propertiesare in North America, we are excited to able to serve customers domestically inChina as well.” The Phocuswright Conference is for three days - here's your daily bulletin for the other 362! Subscribe to the PhocusWire newsletter below Submit Cheng says about 22% of properties in that country are vacant and could be income-generators for their owners. Cozystay says Chinese travelers expect a high level ofservice from vacation rentals, and Oak Properties has met that need by offeringservices such as cleaning and butler service in its accommodations. “Non-hotels are becoming increasingly popular, and we havedifferentiated by offering higher levels of service to the guests, which theyappreciate and which Cozystay also recognizes and delivers to their guests,” saysLixia Guo, co-founder of Oak Properties. In September, Tujia subsidiary Sweetome invested in CozyLiving Suites, a subsidiary of Cozystay that manages vacation rental propertiesin Vancouver, Seattle, Los Angeles and Toronto. Tujia is China’s biggestshort-term property rental firm. Cozystay says it has about 60,000 customers and 200,000listings on its platform, which is available in both English and Chinese. It isalso partnering with Singapore-based Share Everything Lab to integrateblockchain into its platform to improve security and transparency.