INVESTMENT
The Guild grows
HOSPITALITY LIVING PLATFORM
BRIAN CARRICO ON THE GUILD ’ S NEW ACQUISITION AND THE GROWING OPPORTUNITY TO CASH-IN ON THE EXPANDING CONVERGENCE OF WORK , TRAVEL AND LIFE TRENDS .
by JEFF WEINSTEIN , EDITOR IN CHIEF
Living the hospitality lifestyle can be available to everyone , every day , says Brian Carrico , co-founder and CEO of The Guild , a tech-enabled hospitality startup delivering community-based flexible living experiences in walkable urban areas . In January , he told HOTELS his lofty goal : bring more hospitality to both the shortterm and US $ 1.3 trillion long-term rental market , and to build the world ’ s largest hospitality living platform that gives real estate owners a model that can deliver more revenue .
The Guild made its latest move to fulfill its vision last week when it acquired CREA Management LLC , the property management division of Cypress Real Estate Advisors ( CREA ), a multifamily developer and investment firm which actually helped The Guild get its start with its first building in East Austin , Texas , in 2016 . The deal was consummated with an undisclosed amount of equity and CREA taking a seat on The Guild board , according to Carrico . The acquisition – which will add more than 5,000 units to The Guild ’ s portfolio and pipeline – was driven by the companies ’ shared desire to create a turnkey platform with hotellike service and amenities to the full spectrum of renters , especially those identified as Millennials or Gen Z , who relish remote work , desire work-life integration and already
46 hotelsmag . com March / April 2022