NEW YORK–(BUSINESS WIRE)–Life House has launched its Growth Affiliate Program to reward industry stakeholders that support its mission to make hotels more profitable and easier to own. Since 2018, Life House has successfully partnered with an array of owners across the US, Canada, Mexico, and Puerto Rico, with its portfolio comprising nearly 60 hotels open or under development. As existing owners and capital partners seek to expand with Life House – a testament to its strong track record as an operator – the company plans to double its presence to more than 100 hotels during 2022.
Through its Growth Affiliate Program, Life House will reward stakeholders who make qualified introductions to existing hotel owners and prospective investors who can benefit from its tech-enabled management platform. If an introduction results in Life House signing a Hotel Management Agreement, Life House will provide a one-time reward in an amount equal to actual 2021 revenue multiplied by 50 basis points, subject to a cap of $50,000 on a per deal basis. This innovative program is the first of its kind in the hotel management space, representing a “win-win” for stakeholders who can add value to their clients while earning incremental compensation for their efforts.
“Each and every day, industry friends lend their time to helping us achieve our goal of creating value for owners of independent hotels,” explained Bryan Dunn, Managing Director & Head of Growth at Life House. “We sought to create a simple, straightforward program that would reward existing peers for their support while captivating a wider base of stakeholders and educating them on the various ways Life House can add value to their client engagements.”
The program is designed to empower an array of players who engage with hotels throughout the ownership cycle, including but not limited to brokers, consultants, appraisers, architects, and designers. Whether an owner is seeking to step away from day-to-day operations or aiming to maximize asset-level profitability ahead of a sale, Life House is prepared to transition any hotel that meets its target criteria and start adding value within 30 days of ownership signing up. Alternatively, if an owner is selling their hotel or portfolio, Life House can reduce deal friction by matching opportunities with buyers in its existing real estate partner network, or arming an existing bidder with a vertically-integrated management and technology solution.
With a proven track record of increasing Net Operating Income between 50%-200% relative to the status quo, Life House is presently supporting hotel owners with the below suite of software-enabled products and services:
Independent Management: With bespoke independent hotels under management with ADRs ranging from $100 – $1,000+, Life House’s portfolio spans roadside lifestyle motels to award-winning luxury properties affiliated with Forbes Five Star, AAA Five Diamond, and Leading Hotels of the World designations;
Life House & Future Brands: Life House’s namesake brand continues to expand with pipeline projects underway from Miami and the Berkshires to Palm Springs and San Juan, PR. Life House will announce its 3-star lifestyle brand later this year with multiple properties already under contract;
Kayak Partnership: Through a unique partnership with Kayak, Life House operates 3 hotels in South Florida and Mexico, with various other flagship projects currently in negotiation. Kayak is actively seeking opportunities to expand its brand through partnering with owners of irreplaceable assets in gateway markets;
Revenue SAAS: After driving 70% of its revenue direct web system-wide, Life House has begun to make its Revenue Management and Marketing System (“RMMS”) available as a SAAS solution to owner-operators who want to maintain control of day-to-day operations while generating industry-leading direct bookings.
Life House’s introduction of its Growth Affiliate Program comes just months after raising $60 million in Series C financing led by KAYAK and Inovia Capital with participation from investors Tiger Global, Derive Ventures, JLL, Trinity Ventures, Sound Ventures, Cooley LLP among others. Nearly 4 years after launching and with a decentralized team of 100+ talented corporate team members, Life House remains the only asset-light hotel operator that has built a proprietary technology stack to deliver outsized value to its real estate owners.
Interested parties can learn more by visiting www.life-house.com/growthaffiliate, emailing growthaffiliate@life-house.com, or contacting one of their Acquisitions or Business Development team members around the country.
About Life House
Life House is a vertically integrated hotel software & operations platform focused on increasing profitability and reliability for independent hoteliers. Life House was founded in 2017 as one of the only vertically integrated asset-light hotel companies backed by institutional venture and private equity investors. The company is ambitiously investing in operational systems to make it far more profitable, predictable, and seamless for owners while making the guest experience more reliable for travelers. Today the company has nearly 60 hotels in its portfolio across North America. For more information visit www.life-house.com.
Contacts
Bryan Dunn
Bryan@lifehousehotels.com
