Short-term rental accommodation operator Alloggio is breaking into new key tourism markets with the acquisition of A Perfect Stay Pty Ltd and Boutique Stays Pty Ltd for AU$11.0 million.
Founded in 2004, A Perfect Stay offers short-term rental accommodation in top tourist destinations including the Gold Coast, NSW North Coast (including greater Byron Bay region) and Melbourne CBD.
The acquisition will see more than 270 holiday properties join Alloggio’s portfolio, establishing the business as a leading operator with over 2,200 holiday properties under management.
“We are very pleased to announce today that Alloggio has executed binding agreements to further expand into new holiday tourism destinations including the Gold Coast, NSW North Coast and Melbourne through the acquisition of A Perfect Stay, the leading holiday property management company in Byron Bay,” said Alloggio’s Founder and CEO, Will Creedon.
“This acquisition occurs as we head into the key summer holiday period.’’
Daily operations of A Perfect Stay will continue to be overseen by the existing management team initially, and after the first quarter the 2023 calendar year, A Perfect Stay will be integrated onto Alloggio’s proprietary cloud-based technology platform, which Creedon said will drive organic growth opportunities and efficiencies over time.
Creedon said the acquisition is consistent with Alloggio’s strategy of growing holiday property management rights in regions that attract holiday makers from Australia and abroad.
“Importantly, the Acquisition powers Alloggio’s further expansion into the Victorian corporate, leisure and medium-term accommodation markets and enhances Alloggio’s footprint on the east coast of Australia,” he said.
