Regional News

US hotel experience service provider Life House raises $40 million

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Hotel company Life House has announced that it has reached $40 million in funding towards developing its brand, and will launch a booking portal in the summer.

The $10 million in venture funding consists of a Seed round in September 2017 led by Comcast Ventures and a Series A round in February 2018 led by Global Founders Capital. The remaining $30 million in private equity was provided by Henley Investment, a real estate investment group.

Life House was founded in 2017 by Rami Zeidan, a hotel and real estate executive, and Yury Yakubchyk. Crunchbase News has spoken with similar companies looking to transform the Airbnb experience, including Spokane-based Stay Alfred which has taken its luxury rental business to 22 cities across the U.S. But Life House is attempting to put an interesting spin on the travel and hotel industry with its experience-centric boutique hotel business. Life House aims to combine the social and community aspect of staying in a hostel, with the amenities and convenience of staying in a nice hotel.

“We are seeking to cater to customers that desire to spend on a lifestyle experience, rather than an isolated expensive hotel room,” CEO Rami Zeidan told Crunchbase News in an email.

Life House plans to attract travelers by using customer information to match individuals with compatible roommates if they book more than 48 hours prior to arrival. Life House is also launching a social network through its platform that allows individuals to connect with roommates after booking.

“The social network makes it easier to book a trip as an individual, and we are really aspiring to encourage more individual travel and provide an efficient alternative to the potentially unsafe, unclean, and remote home sharing products,” Zeidan expressed.

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