How Life House is Building a 'New-Age' Hotel Management Company
Jul 26, 2022
Fine-Tuned Technology Stack Drives Success for Third-Party Owners
26 July 2022
The 12-room Blue Iris by Life House in Nantucket, Massachusetts, recently opened and is part of Life House's management portfolio. (Life House) — Photo by HotelNewsNow
Since its founding in 2017, asset-light, tech-enabled hotel brand and management company Life House has set out to be a "new-age management company," according to Managing Director and Head of Growth Bryan Dunn. With a management portfolio of more than 60 independent hotels representing more than 2,500 rooms, Life House's primary goal is to create value for its third-party real estate partners, Dunn said. The company's portfolio has a presence in more than 18 U.S. states, Puerto Rico, Canada and Mexico. Ranging from roadside motor lodges with average daily rates of the middle to high $100s to luxury hotels with ADRs of $1,400 to $1,500, Life House has proved it can add value across the chain scales, Dunn said. Life House is backed by venture capital and last fall closed on $60 million Series C financing co-led by Booking Holdings, through its Kayak subsidiary, as well as Canada-based Inovia Capital, Dunn said. "An exciting time for us. We have about 60 or so projects underway right now, all signed under management contracts," he said. "We don't own any real estate, we are an operator, and we've built a technology stack that enables us to add incremental value to independent hotels for our third-party real estate owners."