Hospitality startup Bob W is tripling its presence in Estonia with the acquisition of Estonishing Stay, the largest short-stay serviced apartment operator in that northern European country. Terms of the deal were not disclosed.
“We’re really lucky to have Estonishing Stay join the Bob W family. We’ve got an amazing pool of talent and properties between us, and we’ll be leveraging Bob W’s technology, resources and capabilities to improve the performance of these assets,” Bob W CEO and Co-founder Niko Karstikko said in a press release on Wednesday (May 18).
Co-founded in 2018 by Karstikko and chief strategy officer Sebastian Emberger and headquartered in Helsinki, Finland, Bob W is a tech-driven hospitality provider that offers an alternative to hotels and short-stay rentals. The company currently operates across Estonia, Finland, Spain and the U.K. with plans to expand to Germany and the Netherlands.
The startup works with consumers and businesses and is on the hunt to grow with real estate partners and investors, according to the release. Estonishing Stay is Bob W’s first acquisition as it moves to ramp up its M&A efforts in the Baltics and more.
Estonishing Stay Co-founder Gerdi Arst said the company aligns with Bob W’s “vision for a new category of hospitality” and looks forward to working together to build out their regional real estate network and investors.