In 2018, limehome was founded with a clear vision: to become the hotel with the most locations in Europe.
At the helm of this dynamic company are CEOs Dr. Josef Vollmayr and Cesar de Sousa Freitas. Drawing on their vast experience and unwavering dedication, they have built a team that shares their passion for creating a world-class hospitality brand. Together, they are taking limehome on an exciting journey of growth and success.
In just the past two years, limehome has seen an incredible 400% increase in growth. This remarkable achievement is in no small part due to their innovative and future-proof technological approach, powered by Apaleo.
Limehome has been making waves in the industry with its expansion into new markets like Belgium, the Netherlands, Luxembourg, Portugal, and Italy. They've recently signed 82 flats in the Balgequartier district of Bremen, Germany and now have over 3400 suites under contract across 120 locations in several European countries. With a €45 million venture capital funding round in November last year, limehome is continuing its rapid expansion.
In the constantly evolving world of hospitality, companies like limehome are leading the way with innovative platforms that never go out-of-date. With the unique approach of Apaleo’s 'composable hospitality’, and API-led open property management platform, limehome empowers operators to create a tailored property management and technology ecosystem by combining off-the-shelf tools with in-house developments. This game-changing strategy not only offers unlimited customisation but also ensures cost-effectiveness and scalability for businesses.
This has allowed limehome to create a unique and staffless guest experience, and onboard new properties at speeds previously unheard of - in less than 24 hours - helping the business achieve a fivefold increase in both revenue and the size of its portfolio over the past two years. It forecasts a 60% compound annual growth rate (CAGR) for the next five years and boasts an average occupancy rate of 90%, compared to the market average of 80%.
Limehome has fully digitalised its guest journey, leading to significant cost savings of approximately $200 per unit each month. While traditional property management systems (PMS) do have integrations, limehome needed a platform that would allow it to replace tools that relied on human interaction with its own staffless alternatives. Leveraging Apaleo, they created a seamless digital guest journey from booking to check-out, integrating the reservation and payment solutions of Apaleo with a constellation of proprietary solutions and best-of-breed third-party apps. The open platform approach of limehome has led to incredible levels of customization and efficiency, making their staffless business model highly successful.
"Apaleo is a construction kit that we use to complement our own technology. It allows us to operate the way we operate, and without it, we could not grow at this pace," adds Josef Vollmayr, Co-Founder and Managing Director of limehome. "In a typical stay, traditional hotels might have up to ten manual interactions with every reservation. It's the trivial things that hurt the bottom line. Guests ask for an invoice, the check-in and check-out times, an upgrade, or an extension of the stay. This may not necessarily be inconvenient for the guests as they are used to it, but for the hotel, these interactions are very labor-intensive, time-consuming, and ultimately costly."
One of the most important functions limehome has been able to develop on top of Apaleo is its machine-learning yield management solution. This tool optimises margins on every booking, dynamically adjusting rates millions of times a day in response to demand, local competitors, and seasonal trends. As a result, limehome operates with only one revenue manager across 100 locations, something most hospitality companies would find impossible. While its competitors change prices around 200 times a day — limehome adjusts prices approximately 10 million times in the same period.
“We need all these things to be integrated into our technology. Without the flexibility that Apaleo allows and the seamless integration of our joint technology solution, we would have to operate our current 130 locations with on-site personnel. Hiring and managing these people would not be possible in our lean structure.” Josef concludes.
The hospitality landscape is shifting, and limehome's approach highlights the significance of technology in shaping the future. Moving forward, we can expect more hospitality providers to have tech-savvy CTOs, playing pivotal roles in curating cutting-edge software ecosystems that consistently deliver for their brands.
The realisation of personalised experiences and spacious accommodations hinges on flexible property management technology. For limehome, this meant looking beyond the traditional solutions and embracing a future-proof ecosystem that aligns with their vision.
Limehome now exemplifies the future of hospitality, enabling 100% self-serviced guest journeys, increased guest satisfaction and both operation and financial efficiency for hospitality businesses.
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