The flexible-use hospitality and multifamily
operator secured its first positive EBITDA month last
quarter
WASHINGTON, Aug. 12,
2024 /PRNewswire/ -- Placemakr, a
flexible-use hospitality and multifamily operator, today announced
that in June of 2024 the company reached profitability for the
first time with a positive EBITDA month. This announcement comes on
the heels of new property openings over the course of 2024,
including new markets like Atlanta
and expansions in existing markets including Washington, DC and Texas. This is an important business milestone
as the company continues expansion on its path to reach sustained
profitability in the near future.
"We are incredibly proud of this achievement, which has been
seven years in the making," said Jason Fudin, CEO and
Co-founder of Placemakr. "I'm grateful to our amazing team and all
of our real estate partners on this journey. Today, we'll celebrate
this milestone but tomorrow we'll roll up our sleeves and get back
to growing our property footprint and continuing to refine our
platform."
Placemakr launched in 2017 with the goal of building an enduring
business with the stability required to deliver on the mission of
making real estate more flexible. In recent years, the real estate
industry has seen many challenges, from the COVID-19 shutdown to a
difficult economic climate and skyhigh interest rates. The
flexibility of Placemakr's business model has enabled the company
to weather these challenges by adapting to the changing market
conditions and needs at the time. Today, in addition to this
important milestone the business has grown to over 300 employees
nationwide with nearly $150M in
annualized booking, despite continued industry challenges.
Placemakr looks forward to additional property launches later
this year as it continues on its journey to institutionalize the
flex living asset class. For more information please
visit www.placemakr.com
About Placemakr
Placemakr is a tech-enabled operating company and real estate
investor. The company transforms multifamily properties into a
unique blend of apartment living and hospitality and has been the
pioneer of the flexible living asset class. Placemakr's innovative
tech-enabled platform provides an unmatched experience for its
guests and residents, combining the advantages of apartment living
with the services and reliability of a hotel, all within a single
building. Placemakr's thoughtfully curated spaces in carefully
selected neighborhoods offer guests and residents the flexibility
to stay for a night, a year, or any duration in between.
Media Contact
N6 for Placemakr
placemakr@n6krma.com
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SOURCE Placemakr