WhyHotel Rebrands, Scores $90M Equity Investment

Pop-up hotel operator WhyHotel has secured $90 million in equity investment and rebranded as Placemakr, the company announced Tuesday. It also has secured capital will be deployed toward a target of $1 billion in property acquisitions, and Placemakr during the next 18 to 24 months will test the market for residential/flex hybrids, according to the company.

WhyHotel’s a pop-up hotel experience now will be known as WhyHotel by Placemakr, and the company will launch a hospitality living collection to be known variously as Placemakr Premier, Placemakr and A Placemakr Experience. The company will also look to expand its portfolio of owned properties, like Placemakr Premier SoBro, which will launch in Nashville in July 2022.

Placemakr in a statement said it has “partnered with Davidson Kempner Capital Management, Gaw Capital, and Bernstein Management Corporation on real estate investments, and has had traditional real estate players invested in the operating company including Suffolk Technologies, Geolo Capital, and JBG Smith.”

Terri Hardin  www.businesstravelnews.com