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Kasa, an operator of apartment-style hotels and traditional lodging properties, said Wednesday it had acquired Mint House in an all-equity transaction that the company said will create the largest U.S. operator of apartment-style and traditional hotels, with roughly 85 properties and more than $150 million in annual bookings.
Mint House has raised more than $80 million in venture capital since its founding in 2017. Its shareholders, which include Mohari Hospitality and Revolution Ventures, exchanged their holdings for minority stakes in the combined entity.
Roman Pedan, founder and CEO of Kasa, described the acquisition of Mint House to Skift as “cashless” and “immediately accretive to EBITDA.”
Mint House operated 22 properties before the acquisition. Kasa said it would close some locations that did not meet its standard
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