Shocking news shakes the flexible accommodation sector. Homelike, a long-stay flat platform focused on corporate travellers, has ceased operations after a decade in the market.. The German-based company announced via a notice on its website that it will no longer accept new bookings, although existing bookings will remain valid.
This closure comes despite significant recent financial moves. In 2023, Homelike announced an "eight-figure" financing from hospitality investment firm QIG, as well as a merger with Q Global Network, an existing company within the QIG portfolio. A press release at the time revealed that Homelike had reached a bookings volume of 100 million in 2023.
Homelike's track record also includes a round of funding from 14 million by mid-2018. It was reported that this investment would be used for platform scaling, technology development and product expansion. At the time, the platform offered 45,000 furnished flats in about 100 European cities. Its geographic expansion began in the Netherlands in 2018, followed by Spain in 2019 and the United States in 2021.
For those users with current bookings or who need to access their information, Homelike has informed that they will be able to do so through their control panel. until the end of this month.
The news of Homelike's closure raises questions about the long-stay Flexible Accommodation landscape for the corporate sector and highlights the dynamics and challenges inherent in this evolving market.
