Life House to operate Miami hotel in partnership with Henley Investments

Eloise Hanson Eloise Hanson Uploaded 17 August 2019


US: Henley Investments has acquired its fourth and largest boutique hotel in Miami in partnership with Life House.

With a total project capitalisation in excess of $40 million, the deal marks Life House's expansion into managing bigger hotels.

As a technology-enabled hotel management company, Life House is backed by institutional venture capital firms, allowing the company to develop powerful software systems.

"We are very pleased with Life House's performance over the past 12-16 months throughout our existing Miami portfolio, whereby their advanced platform has enabled extremely efficient and profitable hotel operations," said Ian Rickwood, CEO of Henley.

In live projects, Life House has proven its ability to leverage its technology to materially decrease operating expenses and drive strong incremental revenue, yielding a 30-50 per cent higher return on hotel investments for their real estate partners than incumbent operators.

"We're proud to have judiciously build a robust asset-light, software-driven platform in less than 18 months and with only $10 million of venture backing," said Rami Zeidan, founder and CEO of Life House. "We're now stable and poised to rapidly scale towards our vision of bringing Life House to every neighbourhood of every city in the US."

Life House will initially operate the Lord Balfour Hotel using its white-label platform, before initiating a comprehensive renovation that will see the hotel rebranded as Life House Ocean Drive.

All 81 guest rooms and suites, as well as public spaces will be upgraded. An additional fitness centre and yoga studio is scheduled to be built.

Garrett Solomon, chief investment officer for North American operations at Henley, said: "We're proud to offer a growing diversity of unique, locally-rooted options to travellers to Miami in partnership with Life House. The Lord Balfour Hotel is a high-quality existing asset, and we expect Life House Ocean Drive will dovetail perfectly with Henley's existing portfolio."


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