Dash Living Accelerates APAC Expansion with Hong Kong and Japan Growth

Hong Kong-based co-living giant Dash Living is significantly expanding its footprint across Asia Pacific. The company has announced a strategic move to convert a Travelodge property in Hong Kong into a co-living space and has acquired Japanese flexible accommodation firm IntheHood Hospitality, bolstering its presence in key regional markets.

Key Takeaways

• Dash Living is set to manage 148 rooms at Travelodge Central in Hong Kong, rebranding it as Dash Living on Hollywood.
• The acquisition of IntheHood Hospitality adds over 100 co-living units in Tokyo to Dash Living's portfolio.
• These expansions bring Dash Living's total managed units in the Asia Pacific region to over 1,800.

Hong Kong Expansion

Dash Living has entered into an agreement to manage the Travelodge Central property located on Hong Kong's Hollywood Road. This property will be rebranded as Dash Living on Hollywood and is slated to add 148 rooms to the company's growing portfolio. The transition is anticipated to be completed in the second half of 2022. Founder Aaron Lee expressed enthusiasm for collaborating with institutional real estate investment managers on this flagship Hong Kong property, aiming to deliver quality co-living experiences enhanced by extensive perks.

Dash Living reported a substantial 200 percent year-on-year growth in booking values for 2021, managing a portfolio of 1,300 units that includes serviced apartments, co-living homes, and hotel rooms. The company's co-living model emphasizes shared common spaces for tenants to connect and engage, while also offering private rooms with dedicated facilities.

Japanese Market Acquisition

In a significant move to broaden its reach, Dash Living has acquired Tokyo-based IntheHood Hospitality through a share-swap based merger and acquisition. This strategic acquisition grants Dash Living access to over 100 co-living spaces in Tokyo, further solidifying its aggressive expansion in the region. The company now manages over 1,800 units across the Asia Pacific.

IntheHood Hospitality was founded to address the growing demand for alternative lodging in Japan, particularly for young urban professionals facing high rents and significant upfront costs for traditional apartments. The firm specializes in converting residential real estate into hospitality products, offering apartments in prime Tokyo locations. Dash Living's CEO, Aaron Lee, believes that the company's affordable, flexible, and tech-enabled accommodation options will resonate well with the Japanese millennial demographic and beyond.

The integration of the IntheHood team, comprised of former executives from international hospitality brands and real estate firms, is expected to create powerful synergies. Wesley Wen, Dash Living's Chief Growth Officer, will lead the expansion in Japan alongside former IntheHood team member Joel Yu. The agreement was expected to be finalized in July 2022.

Dash Living's expansion reflects a strong customer demand in the Asia Pacific, with its co-living spaces achieving an average occupancy rate of 90 percent in 2021, even amidst the pandemic. The company, backed by venture capital firms, aims to create a global accommodation community through sharing economies, technology, and unique tenant experiences.

Sources

• Dash Living to convert Hong Kong Travelodge to coliving property, Serviced Apartment News.
• Hong Kong's Dash Living acquires Japan's flexible accommodation firm IntheHood Hospitality, TNGlobal.