Casai, Nomah Merge to Transform Hospitality in Latin AmericaBy Sofía Garduño | Fri, 08/19/2022 - 10:13
A merger agreement between Casai and Nomah will result in the biggest short-term rental company in Latin America. The new company aims to have around 200,000 guests and over 300,000 units in Mexico and Brazil. Loft Group and current investors will fund this project.
“Casai and Nomah together will be able to operate approximately 70 buildings from studios to 2 bedrooms. With now thousands of units across eight of Latin America’s most important leisure and business destinations, our experience will appeal to both travelers seeking authenticity and also bleisure travelers (those who combine business and leisure on the same trip). As an example, our current clients include multinational corporations, embassies, top startups and even local Mexican politicians,” Nico Barawid, Founder and CEO, Casai, told MBN.
Barawid will be the CEO of the new company and Thomaz Guz, Nomah’s CEO, will be named president. The new company’s model will allow both players to maintain their brands while they combine efforts.
“We are very excited about this new chapter on the journey of changing the way people travel by offering a mix of home and hotel experience through flexible apartment stays. We want to build a flexible traveling ecosystem where people can have an authentic accommodation experience without compromising home comfort,” said Barawid.
By offering stock options to its employees, the upcoming company aims to make them feel as if they are part of their own business. This effort is part of the desire of building a company that transforms how people invest in the real estate market.
The new company also aims to boost the hospitality sector as it is an important contributor to the economic development of Latin America. The tourism and hospitality market is growing and currently represents 10 percent of the continent’s GDP, as reported by Edelman.
“Hospitality is one of the largest contributors to the region's economic development. Throughout the past few years, more and more people have discovered the culture, gastronomy, landscapes and history of Latin America. The merger is a giant step forward in the hospitality industry in the region,” said Barawid.
Both companies are transforming the sector through services that aim to reshape the traveling experience. Their offers include a mix of home and hotel experiences through flexible apartment stays. Casai started operations three years ago in Mexico City and it rapidly succeeded in offering a 5-star guest experience both in Mexico and Brazil. “Part of why we are so driven to realize our dreams is that the business of hospitality is both magical and important,” said Barawid.
Nomah was created in Sao Paulo in 2016. Its strong partnerships with key real estate developers allowed the company to experience fast growth. “We always had the dream of revolutionizing this market and positively impacting the lives of thousands of people. Today, we take another important step in our direction, we are becoming a global company and a leader in the region,” said Guz.
The next step for both companies is to integrate their teams, processes, brands and technology to bring to life the company that will reshape the concept of hospitality in Latin America.