Kasa

Kasa Living is a technology-driven hospitality company that reimagines flexible accommodations for both business and leisure travelers. Founded in 2016 and headquartered in San Francisco, California, Kasa partners with property owners to transform multifamily and boutique hospitality properties into professionally managed units known as "Kasas."

This approach allows travelers to experience high-quality, home-like environments during their stays. The company offers a diverse portfolio of accommodations, including fully equipped apartments, boutique hotels, and vacation homes, catering to various traveler preferences.

Locations

Kasa's properties are located in over 40 cities across the United States, providing guests with a wide range of options in prime destinations.

• Los Angeles, CA, USA

Technology and Guest Experience

Central to Kasa's offerings is its Virtual Front Desk, a proprietary technology that empowers guests to manage their entire hospitality experience seamlessly. This feature enables easy check-in and checkout processes, giving guests full control over their stays.

The user-friendly Kasa Smart app consolidates all aspects of the guest experience, eliminating the need for multiple applications and ensuring a cohesive and efficient service.

Business Model and Growth

Kasa's business model focuses on revenue-sharing management agreements with property owners, rather than long-term leases. This asset-light strategy has led to significant improvements in profitability for property owners, with reported increases of over 50% after Kasa took over operations.

Additionally, guest satisfaction scores have seen notable enhancements, reflecting the company's commitment to quality and service.

Expansion and Recent Developments

As of 2024, Kasa has expanded its operations to include luxury single-family vacation rentals, beginning in the Miami-Fort Lauderdale area. This expansion aligns with the company's core value proposition of unlocking the potential of real estate assets for both owners and guests.

Leadership

Kasa's leadership team comprises industry veterans with deep expertise in real estate, technology, and hospitality. CEO and founder Roman Pedan has a background in real estate private equity investment at KKR & Co.

Funding

In October 2023, Kasa secured a $70 million Series C funding round led by Citi Ventures and FirstMark Capital, bringing its total funding raised to $126.3 million. This capital influx has positioned Kasa with a robust balance sheet to accelerate growth without requiring additional fundraising.

Summary

Kasa Living is at the forefront of transforming the hospitality industry by offering tech-enabled, flexible accommodations that cater to the evolving needs of modern travelers.

Through strategic partnerships, innovative technology, and a commitment to quality, Kasa continues to redefine the standards of temporary lodging.