Limehome closes 2022 financial year with strong performance across Europe

Munich, 18.01.2023. Limehome, the leading technology-based provider and operator of fully digitised design flats in Europe, is reporting a very positive balance sheet for the fiscal year ended 2022.

In 2022, limehome opened new serviced flats in 24 cities in Germany and Europe. This gives the Munich-based company more than 3,300 opened and planned suites in more than 110 locations in Germany, Austria, the Netherlands, Belgium, Spain, Portugal and Hungary. 

In Germany, limehome completed its presence in all German A-cities with the opening in Düsseldorf. With signings in Amsterdam, Barcelona, Budapest, Vienna and Porto, the company could further expand its presence in European tourist metropolises by 2022. 

The start-up increased its revenue by more than 200 per cent by 2022
Limehome more than tripled its revenues in all four quarters compared to 2021. Despite significant investments in new locations, its technology platform and brand experience, the hospitality provider was able to show a positive EBITDA result as early as the middle of the year. This happened significantly ahead of schedule and is not the norm for growth companies at this stage. 

The average occupancy rate for the year across all sites was 90 per cent, well above the industry average of around 60 per cent. The year-on-year increase in demand and higher price levels were reflected in a RevPar increase of more than 50 per cent. Limehome also grew dynamically in terms of staff. The number of employees increased from 150 (Q1) with nearly 40 new employees at the end of Q4. In autumn 2022, limehome also gained two internationally recognised experts in Daniel Hermann as Vice President Expansion and Daniel Garner as Vice President Brand & Product. 

Limehome enters the new financial year with around EUR 45 million in growth capital. In autumn 2022, existing investors HV Capital, Picus Capital and Lakestar renewed their investments. AW Rostamani Group and Capital Four also invested in the hospitality company for the first time. 

New growth capital for expansion across Europe
Limehome plans to use the capital raised for expansion in existing markets, new markets such as Portugal and Italy and strategic acquisitions of existing operators. The hospitality tech also plans to use the funds to further expand the scalability and high service levels of its proprietary technology platform.

"We are delighted with the successful completion of FY2022. We achieved our ambitious targets despite a challenging year for the industry, proving once again the potential of our business model. This is a strong signal to the market," said Cesar de Sousa Freitas, CEO of limehome.

"Our consistently technology-based approach allowed us to continue our rapid growth trajectory into 2022 and confirm the confidence of our customers, partners and investors. This is something we are proud of. With the successes of the past year, the limehome team has laid an excellent foundation for the year ahead," added Dr Josef Vollmayr, co-founder and CEO of limehome.

About Limehome
Limehome is the leading technology-based provider and operator of fully digitised designer flats in Europe. Through the fully digital guest journey from booking to check-out and billing, guests experience maximum convenience, no waiting times and flexibility in travel arrangements. Limehome is "designed to stay": The fully equipped suites meet the highest standards of functionality, comfort and design at all locations and are designed for both short and long-term stays. The technology-based operating model allows the high-quality designer flats to be offered at the price of a standard hotel room. The company employs nearly 190 people and currently has more than 3,300 suites under contract at more than 110 locations in Germany, Austria, the Netherlands, Belgium, Spain, Portugal and Hungary.