Singapore-based co-living company Hmlet has merged with European flexible living provider Habyt following an equity share swap.
The move follows Habyt’s acquisition of two other co-living players, Milan-based Roomie in March 2022, and Frankfurt-based Homefully in June 2021.
Hmlet will continue to operate under its own brand name
The Singapore start-up will bring its inventory of 1,200 units in Singapore, Hong Kong and Japan under Habyt, which has a portfolio of over 8,000 units worldwide in 10 countries and 20 cities.
As part of Habyt, Hmlet will continue to operate under its own brand name with Hmlet CEO Giselle Markarachvili acting as head of APAC for Habyt. Chief real estate officer Joshua Li will become Habyt’s head of expansion, APAC, and both will report to Luca Bovone, founder and CEO of Habyt.
Makarachvili commented in a statement on April 12 that the company has plans to “deepen our footprint in our existing markets and (is) aiming to expand into new markets as well”.
Hmlet is actively expanding its offerings with the recent launch of Hamilton in Singapore, comprising 68 rooms across a row of eight conservation shophouses that have been refurbished to accommodate the brand’s standards. It also signed three new buildings in Hong Kong that are slated to open this quarter.
Noting the rising in competition in the co-living sector, especially in Singapore where there are 10 players, such as The Assembly Place and lyf, Makarachvili said the consolidation of Hmlet and Habyt is “key for expansion”.
Singapore-based co-living company Hmlet has merged with European flexible living provider Habyt following an equity share swap.
The move follows Habyt’s acquisition of two other co-living players, Milan-based Roomie in March 2022, and Frankfurt-based Homefully in June 2021.
The Singapore start-up will bring its inventory of 1,200 units in Singapore, Hong Kong and Japan under Habyt, which has a portfolio of over 8,000 units worldwide in 10 countries and 20 cities.
As part of Habyt, Hmlet will continue to operate under its own brand name with Hmlet CEO Giselle Markarachvili acting as head of APAC for Habyt. Chief real estate officer Joshua Li will become Habyt’s head of expansion, APAC, and both will report to Luca Bovone, founder and CEO of Habyt.
Makarachvili commented in a statement on April 12 that the company has plans to “deepen our footprint in our existing markets and (is) aiming to expand into new markets as well”.
Hmlet is actively expanding its offerings with the recent launch of Hamilton in Singapore, comprising 68 rooms across a row of eight conservation shophouses that have been refurbished to accommodate the brand’s standards. It also signed three new buildings in Hong Kong that are slated to open this quarter.
Noting the rising in competition in the co-living sector, especially in Singapore where there are 10 players, such as The Assembly Place and lyf, Makarachvili said the consolidation of Hmlet and Habyt is “key for expansion”.