Kasa acquires the operations of Mint House, a premium residential hospitality operator of nearly 1,000 units nationwide. As part of this transaction, Mint House’s properties across U.S. markets will be integrated into Kasa’s platform.
Under the terms of the transaction, Kasa will take over properties in premier U.S. markets, including the 70 Pine building in Lower Manhattan, an iconic Art Deco tower in Lower Manhattan which has a fitness center, gourmet market and the restaurants Crown Shy and SAGA. In addition, the transaction expands Kasa’s footprint across multiple high-growth, markets including Washington, D.C., Dallas, Nashville, St. Petersburg and Tampa.
“This is an exciting opportunity to bring the strong teams and capabilities from both organizations onto a unified Kasa platform," Roman Pedan, founder and CEO of Kasa, said in a statement. We expect our combined scale to deliver meaningful operating efficiencies and stronger commercial outcomes for owners. We’re thrilled to welcome Mint House’s buildings, owners and guests into the Kasa network.”
The transaction will create scale to drivea down costs, strengthens Kasa’s commercial capabilities and expands the platform. That scale enhances performance across distribution, revenue management, sales and marketing and guest engagement, while improving operating efficiency nationwide.
To date, Kasa has completed 35 hotel and apart-hotel management transitions across the country. That transition expertise will be applied to ensure continuity and performance across the Mint House portfolio.
“Kasa and Mint House have always been aligned in our asset-light models and guest-centric operating philosophy," Mint House CEO Christian Lee said. "Our shared focus on operational excellence is why we chose Kasa for this transaction and our close collaboration will ensure a smooth transition. We believe this transaction will drive further benefits to all properties that are part of the Kasa portfolio.”
Through the strategic expansion, the Mint House properties will have mobile-first check-in and 24/7 guest communications.
As part of the transaction, Lee will join Kasa as a senior advisor to support the transition and promote continuity for owners and partners.