Life House, a technology-forward hotel management company, has added three new hotels located in Texas to its portfolio. The three new additions include Hotel Dryce in Fort Worth, The Flats at St. Mary in San Antonio and a third property which will be announced soon.
The owners of Hotel Dryce and The Flats were looking for an independent hotel operator to run the daily operations and free up their time to focus on development projects.
Located near Cultural District in Fort Worth, Hotel Dryce was recently developed and is owned by Jonathan Morris and Allen Mederos.
The 21-room boutique hotel includes a lobby bar and an outdoor courtyard. A portion of the building is a former dry ice warehouse, which was transformed into a hotel space while the rest of the building was newly constructed.
Hedrick Building, a former historic, high-rise building, underwent a complete renovation to open as the Flats. Owned by Frank & Shelly Markey and Craig Glendenning from Bright Lakes Estate, the building was restored to function as a high-end hotel.
Founded in 2017, New York-based Life House offers institutional-quality hotel management. The vertically-integrated hotel management company uses advanced software and operating systems to increase reliability and profitability for independent hotels in North America.
Currently, the company operates more than 50 hotels.
The company raised $60 million in a Series C round of funding, co-led by new investors Kayak and Inovia Capital in December 2021. Existing investors — Tiger Global, Derive Ventures, Thayer Ventures, JLL, Trinity Ventures, Cooley LLP, Sound Ventures, and others — also took part in the funding, which brought Life House’s total raised since 2017 to more than $100 million.