Serviced apartment operator Limehome is stepping up its growth in the Austrian market. Following the signing of three new contracts and three recent site openings in Vienna and Linz, the company's portfolio in Austria now exceeds the threshold of 1,000 units.
A key focus of the expansion is the Vienna market. The federal capital now accounts for more than 500 units. Vienna thereby ranks alongside Berlin and Madrid among the company's three highest-volume locations in Europe.
Conversions and repositionings in existing urban stock
The current projects are distributed across central locations and encompass various real estate typologies. Alongside classic new-build schemes, the focus is particularly on converting existing office space and repositioning hotel operations, which are transitioned into the technology-based operating model.
To deliver the schemes, the company works with various property owners and developers. Cooperation partners for the current projects include:
- —CPI Europe
- —LAMACO Immobilien
- —United Benefits Holding
- —Majer Immobilien Holding
The recent launches show high occupancy levels. The two most recently opened locations in Vienna have achieved average occupancy rates of over 90 per cent since their respective launches. The newly opened Linz Urfahr location recorded an occupancy rate of more than 93 per cent in its first weeks of operation.
Viability of the technology-based operating model
Matthias Maas, Vice President Expansion DACH & Benelux at Limehome, stated with regard to the developments that Limehome is proving to be a reliable partner for asset holders. He noted that this applies equally to office conversions, repositioning traditional hotel properties, and new-build projects. The company does not pursue growth at all costs, but relies on a sustainably scalable operator model that has proven itself across diverse locations and markets.
