Dash Living Boosts Hong Kong Presence with New Co-Living Expansions

Hong Kong's flexible accommodation provider, Dash Living, is significantly expanding its co-living footprint in the city. The company has announced plans to take over the management of the Travelodge Central on Hollywood Road, rebranding it as Dash Living on Hollywood, and adding 148 rooms to its portfolio. This move follows recent expansions and acquisitions, underscoring Dash Living's aggressive growth strategy in the Asia Pacific region.

Key Takeaways

• Dash Living is set to manage the Travelodge Central, adding 148 rooms to its Hong Kong portfolio.
• The company has experienced substantial growth, with booking values increasing by 200% year-on-year in 2021.
• Dash Living recently expanded its international presence by acquiring Japan's IntheHood Hospitality.

Expansion in Hong Kong

Dash Living has entered into an agreement to manage the Travelodge Central, located on Hong Kong's Hollywood Road. This property will be rebranded as Dash Living on Hollywood and is expected to be integrated into the company's offerings in the second half of 2022. Founder Aaron Lee expressed enthusiasm for collaborating with institutional real estate investment managers on this "flagship" property, aiming to provide high-quality co-living experiences enhanced by extensive perks.

This expansion is part of a broader trend for Dash Living, which reported a 200% year-on-year increase in booking values for its 1,300 units in 2021. The company's co-living model emphasizes community and connection, offering shared common spaces for tenants to interact while also providing private rooms with individual facilities. Previously, Dash Living also announced its second Hong Kong co-living project in Mong Kok, featuring 36 units and a dedicated community space with an open-air deck.

International Growth and Acquisitions

Dash Living's expansion is not limited to Hong Kong. The company recently acquired Tokyo-based IntheHood Hospitality through a share-swap based merger and acquisition. This strategic move significantly bolsters Dash Living's presence in Japan, adding over 100 co-living units in Tokyo to its portfolio and bringing its total managed units across the Asia Pacific to over 1,800.

IntheHood Hospitality specializes in converting residential real estate into hospitality products, offering apartments in prime Tokyo locations. This acquisition aligns with Dash Living's asset-light approach and its mission to provide affordable, flexible, and tech-enabled accommodation options for young urban professionals. The integration of the IntheHood team, comprised of former executives from international hospitality and real estate firms, is expected to drive further growth in Japan and the wider APAC region.

Dash Living, backed by venture capital firms such as MindWorks Ventures, Grosvenor, and Chinachem, aims to create a global accommodation community through sharing economies and technology, catering to the evolving needs of discerning urban professionals.

Sources

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