New York City-based Life House – a tech-enabled brand and management company with 27 hotels signed, open or under development – has acquired the management contracts of Imprint Hospitality’s independent hotel portfolio across the West Coast. The transaction represents Life House’s first M&A transaction and it said several more are expected to close later in 2021.
Life House was founded in 2017 by Rami Zeidan and is backed by travel-tech and private equity investors, including Thayer Ventures, JLL, Tiger Global, Rocket Internet, Trinity Ventures, Ashton Kutcher & Guy Oseary’s Sound Ventures, among others. Twelve properties in the current portfolio sit under the Life House brand.
The Imprint portfolio includes the Taos Inn in Taos, New Mexico; Casa Secoya in Sonoma County, California; Loyal Duke Lodge in Salida, Colorado, and Salida Inn and Monarch Suites in Salida. The hotels will operate with their existing independent branding, with Life House actively exploring opportunities to reposition select properties to one of its current or future lifestyle brands.
Imprint was founded by hotel industry veterans Alexandra Walterspiel and Matthew Seim. Following the close of the transaction, they will join Life House’s Advisory Board and remain long-term owners of the real estate through various affiliated investment vehicles.
The deal represents a commitment from Life House to its West Coast expansion efforts following the opening of Life House Lower Highlands in Denver in November. Five additional deals are presently under contract across the West Coast.
After its recent US$30 million financing round, Life House and its partners are actively seeking additional M&A opportunities across the independent hotel space.
The transaction between Life House and Imprint Hospitality was facilitated by Destination Capital, a Denver-based real estate advisory firm led by Bryan Auchterlonie.