Short-term apartment rental platform BoB W announced its acquisition of German apartment rental agency, Charly Hospitality. The cost of the acquisition remained undisclosed.

The acquisition adds seven properties in Germany and one in Amsterdam to Bob W's portfolio, including 27 properties across Europe and the Charly Hospitality brand operating under BoB W. The company expects Germany to be its largest market by the end of the year and by the end of 2023, aims to operate over 40 properties through a combination of management deals, leases, and further potential M&A activity.

Charly Hospitality is an apartment rental agency that provides short-stay apartments designed to offer guests a hotel-quality experience with the authenticity and functionality of a private apartment. The company's properties are located in Germany, including in Bonn, Munich, Berlin, Lübeck, Cologne, and Amsterdam.

Bob W is a hospitality provider that offers short-stay rentals acquired through rent-to-rent and management arrangements, designed to meet the needs of modern travelers. Its services are catered to both consumers and companies, such as startups and companies in the tech and creative industries. Bob W's currently operates in Estonia, Finland, Spain, the UK, Germany, and the Netherlands. 

Analyst QuickTake: This marks BoB W’s third acquisition, with previous acquisitions aimed to expand its geographical scope such as Finland-based Koti in October 2022 and Estonia’s largest short-term rental operator, Estonishing, in May 2022 . Further, the funds for the acquisition of Charly Hospitality were fueled through the company’s EUR 21 million Series A funding round secured in October 2022 .