Calgary-based ApartmentLove Inc. announced it has acquired an established short-term vacation rental company with operations in the United States, Canada, Mexico, and the Caribbean. The aggregate cash purchase price for the aquisition was $375,000, and the deal is set to close on or before July 15, 2022.
ApartmentLove Inc. is a leading online marketing services provider with rental listings in more than 30 countries around the world. Completing this acquisition represents the company’s foray into the short-term vacation rental space, a segment it refers to as one of the fastest-growing in terms of online listings.
As a “PropTech” company, the goup says it will be actioning growth through a new acquisitions program that will see it buy up competing businesses that have “a history of recurring revenues, positive cashflows, and custom technologies that both accelerate and destress the renting experience around the world.”
The website acts as a free resource for renters seeking vacant rental properties, allowing landlords to connect with interested parties, schedule viewings, and fill vacancies with minimal hassle to all. It commenced trading on the Canadian Stock Exchange under the ticker symbol “APLV” in September, 2021.
