{"id":1004338565,"date":"2019-07-16T03:41:10","date_gmt":"2019-07-16T11:41:10","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004338565"},"modified":"2019-07-16T03:41:10","modified_gmt":"2019-07-16T11:41:10","slug":"life-house-secures-100m-in-equity-capital","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/life-house-secures-100m-in-equity-capital\/","title":{"rendered":"Life House Secures $100M in Equity Capital"},"content":{"rendered":"
\"The<\/a>

The Roberts Collection. Image courtesy of Life House<\/em><\/p><\/div>\n

Life House, a New York-based company specializing in lifestyle boutique hotels, has secured $100 million in equity commitments, or about $250 to $300 million in total asset value, from Boston\u2019s Blue Flag Partners. The sum is expected to let Life House acquire seven to 10 additional hotels.<\/p>\n

The deal comes soon after Life House took over operation of The Roberts Collection, a historic 58-room hotel in Nantucket, Mass., which Blue Flag had acquired in April. Life House will begin restoration of the hotel this coming fall. The investment platform will allow Blue Flag to connect Life House\u2019s management, technology and design capabilities with real estate opportunities in high-barrier-to-entry markets traditionally overlooked by value-add investors.<\/p>\n

\n

READ ALSO: <\/strong>US Hospitality Sector Continues Growth Trend<\/a><\/p>\n

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By 2020, Life House plans to have more than 20 hotels open or under construction across the U.S., in markets including Nantucket, Brooklyn, Denver and Lake Tahoe. Life House has used venture backing from Global Founders Capital, Comcast Ventures and Trinity Ventures to develop proprietary technology intended to drive incremental revenue and automate operational efficiencies, reportedly yielding a 30 to 50 percent higher return on hotel investments for its real estate partners than traditional management companies<\/a>.<\/p>\n

Across its current portfolio of four operating hotels in Miami and Nantucket, Life House reportedly is driving between 50 and 80 percent of bookings direct to its website, representing a two- to three-fold improvement over a typical U.S. independent hotel.<\/p>\n

\"Bryan<\/a>

Bryan Dunn, Vice President of Acquisitions and Business Development, Life House. Image courtesy of Life House<\/em><\/p><\/div>\n

Bryan Dunn, Life House\u2019s vice president of acquisitions and business development, explained to Commercial Property Executive<\/em> that Life House raises two types of capital: venture capital to fund their operating company and \u201cbuild strong value propositions through the use of technology\u201d<\/em> and real estate capital to acquire hotels for their asset-light operating company to manage.<\/p>\n

\u201cBlue Flag Partners has dedicated $100 million equity to acquire future hotels in exclusive partnership with Life House, whereby Life House will be the operator and brand. By capitalizing each real estate deal independently from our OpCo, Life House does not dilute our venture capital investors with real estate returns,\u201d<\/em> Dunn added.<\/p>\n

The challenges of high-tech hospitality<\/h2>\n

\u201cLife House has developed seven proprietary software solutions, including a guest-facing mobile app with a social network, an automated financial accounting and reporting system, a reservation and booking system and software to manage hotel staff,\u201d<\/em> Dunn said. \u201cWe add value from both an expense-management perspective through the automation of repeatable tasks and from a demand-generation standpoint through a fully in-house built technology stack that enables our teams to better convert on direct traffic to our website.\u201d<\/em><\/p>\n

Fewer than half of hotel managers see themselves as tech innovators, and only about one out of three hotels is identified as \u201cleading in customer-facing innovation,\u201d according to Hospitality Technology\u2019s 2019 lodging technology study.<\/p>\n

\u201cHotels are least confident in how they\u2019re leveraging data,\u201d the report said, with only 23 percent stating they are innovators in analytics. This, in turn, aligns with the lack of confidence in customer-facing technology, as technology implementation is often most effective when it\u2019s in lock-step with available guest data. If the data isn\u2019t being utilized, hotels lose confidence in how they utilize customer-facing technology for the greatest impact.<\/p>\n

Priority areas for improving guests\u2019 digital experiences include driving direct reservations, mobile and personalized marketing, and mobile check-in\/out, survey respondents told Hospitality Technology.<\/p>\n","protected":false},"excerpt":{"rendered":"

The funding from Blue Flag Partners is expected to enable the lifestyle hotel brand and management company to substantially expand its portfolio.<\/p>\n","protected":false},"author":882,"featured_media":1004338571,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21825,21751,23891,21742],"tags":[46325],"class_list":["post-1004338565","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-finance","category-hotel","category-national","category-latest","tag-life-house"],"acf":[],"yoast_head":"\nLife House Secures $100M in Equity Capital - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/life-house-secures-100m-in-equity-capital\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Life House Secures $100M in Equity Capital\" \/>\n<meta property=\"og:description\" content=\"The funding from Blue Flag Partners is expected to enable the lifestyle hotel brand and management company to substantially expand its portfolio.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/life-house-secures-100m-in-equity-capital\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2019-07-16T11:41:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/07\/The-Roberts-Collection.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/life-house-secures-100m-in-equity-capital\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/life-house-secures-100m-in-equity-capital\/\",\"name\":\"Life House Secures $100M in Equity Capital - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/life-house-secures-100m-in-equity-capital\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/life-house-secures-100m-in-equity-capital\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/07\/The-Roberts-Collection.jpg\",\"datePublished\":\"2019-07-16T11:41:10+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/life-house-secures-100m-in-equity-capital\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/life-house-secures-100m-in-equity-capital\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/life-house-secures-100m-in-equity-capital\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/07\/The-Roberts-Collection.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/07\/The-Roberts-Collection.jpg\",\"width\":800,\"height\":620,\"caption\":\"The Roberts Collection. 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