Life House, a tech-enabled brand and management company, has acquired the management contracts of Imprint Hospitality’s independent hotel portfolio, which comprises an array of properties across the West Coast. The transaction represents Life House’s first M&A transaction, with several more expected to close later in 2021.
Founded in 2017 by a seasoned boutique hotel and technology team, Life House has reimagined the complex hotel tech stack into a holistic hotel operating system that dramatically increases revenues and reduces expenses for independent hotel owners. The company is backed by top travel-tech and private equity investors including Thayer Ventures, JLL, Tiger Global, Rocket Internet, Trinity Ventures, Ashton Kutcher and Guy Oseary’s Sound Ventures, Blue Flag Partners and David Hamamoto, among others. Today, the company has 27 hotels signed, open or under development, 12 of which are branded Life House.
The Imprint Hospitality portfolio features unique independent properties across the West Coast, including The Historic Taos Inn in Taos, New Mexico; Casa Secoya on the banks of the Russian River in Sonoma County, California; and Loyal Duke Lodge and Salida Inn and Monarch Suites in Salida, Colorado. Others will be announced at a later date. The hotels will be operating 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 Hospitality was founded by hotel industry veterans Alexandra Walterspiel and Matthew Seim. Following the close of the transaction, Imprint founders will join Life House’s advisory board and will remain long-term owners of the real estate through various affiliated investment vehicles.
“We are pleased to have identified a like-minded and forward-thinking partner in Life House who has the ability to materially improve the performance of our portfolio,” said Alexandra Walterspiel, Managing Partner of Imprint Hospitality. “As we’ve become more familiar with Life House and their value proposition, it’s clear they are the right partner to manage our unique hotels and in so doing, providing our team with additional bandwidth to focus on future real estate transactions in our target markets” added Matt Seim, managing partner of Imprint Hospitality.
The deal represents a commitment from Life House to its West Coast expansion efforts following the opening of Life House Lower Highlands in Denver, Colorado in November. With five additional deals presently under contract across the West Coast, Life House continues to rapidly expand its network of independent and boutique properties across all corners of the United States.
“We are thrilled to finalize this transaction with Imprint Hospitality and their experienced management team and happy to be able to help solve problems for hotel owners and our peers in the industry during these difficult times,” explained Rami Zeidan, founder and CEO of Life House. “Matt and Alex have been great to work with and we are excited to expand our presence in Colorado following the opening of our Denver hotel while entering strategic submarkets in California and New Mexico”.
After its recent $30 million financing round, Life House and its partners are actively seeking additional M&A opportunities across the independent hotel space. Life House is optimally positioned to acquire asset light management businesses from owner-operators who seek to focus their time and energy on real estate ownership, in which context Life House can create a liquidity event alongside adding incremental value to the real estate through its management platform.
The transaction between Life House and IMPRINT Hospitality was facilitated by Destination Capital, a Denver-based real estate advisory firm led by Bryan Auchterlonie.