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Blueground Disrupts the Corporate Hospitality Industry in Dubai
blueground, one of the fastest growing startups in the hospitality industry internationally, has entered the Dubai market a few months ago. It has already gained the trust of over 400 property owners and thousands of corporate guests and has tripled its revenues in the last twelve months.
blueground, which offers stylish, fully furnished apartments to business executives, expats and other travelers for mid to long term duration (of one month or longer), has developed a unique business model that differentiates it from traditional serviced apartment operators, shaking up the stagnant of innovation corporate hospitality market.
Specifically, blueground leases existing high-end residential properties in the most sought after areas, upgrades and converts them into best-in-class rentals, thus avoiding the lengthy and capital intensive construction process of traditional hotel operators, while at the same time providing its guests with a home experience.
Also, the company’s scale, its furnishing standardization, and its in-house developed technology, which automates all aspects of the business, including online bookings, 24/7 guest support through an app, etc., differentiates it from the typical small-scale furnished apartment operators, ensuring the highest level of professionalism.
This is the reason blueground is already counting multinationals such as Samsung, Panasonic, H&M, IKEA, Novo Nordisk, Oracle and Siemens in its client list. The choice of Dubai as the third city blueground enters, is reflecting the company’s strong belief in the region’s significant growth potential.
According to Alexandros Chatzieleftheriou, CEO & cofounder of blueground ”Dubai is an established hub for both investors and businesses from around the world, making it an ideal market for us” and he added “we are very pleased with the trust we have received from property owners, investors and multinational companies in Dubai to date, and we will continue to grow our presence in the region.”
blueground recently raised $5.8 million in Series A funding round led by the European fund VentureFriends and the American fund Endeavor Catalyst. The company’s disruptive business model and its significant growth – tripling its revenues since last year in each of the markets it operates – constituted the reason that led blueground to this new round of funding. Since its founding in 2013, blueground has raised a total of $ 7.4 million.