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September 10th, 2019

REDWOOD VENTURES PARTICIPATES IN INVESTMENT ROUND THAT STRENGTHENS AND ACCELERATES SOJOURN OPERATIONS

The largest Venture Capital fund in the West region of Mexico, Redwood Ventures, announces the addition of Sojourn to its portfolio; multinational company managing short-term rental properties that provides the quality and services of a hotel in each reservation, optimizing its operation and profitability through its different technological platforms.

With more than 160 properties under its administration in Mexico, the United States, Puerto Rico and Colombia; The company operates through two business models, on the one hand with a “Master Lease” scheme, pioneering in Latin America, which solves vacancy problems for real estate developers, and on the other hand, is responsible for the adaptation, operation and optimization of properties for short term rentals, which are listed in specialized search engines of the sector.

Thanks to the integration of technology, its pricing strategy and the high standards of quality and operation in the service, the company manages to increase the income of the properties it manages by up to 40%.

With more than 30 years of joint experience in the real estate and hospitality administration sectors, Ryan Anderson and Daniel Zammata, co-founders of Sojourn, lead the company's expansion efforts in the United States and Latin America, in a sector that is growing six times faster than traditional accommodations.

“It is a fact that the collaborative economy has come to transform the way we consume services every day, and those business models are here to stay and continue transforming our daily lives, it is right there where Sojourn offers added value to property owners of short-term rental lodges, improving its profitability through improvements in occupancy and quality, we are very excited to invest in Sojourn not only because of the market potential that we visualize but because of the great capacity and experience that we see in the team, we hope to grow significantly and support them in their expansion process in Mexico”, said Ian Paul Otero, Managing Partner of the fund.

Redwood Ventures began to invest in March 2018 and since then, it has stood out as an active agent in the detection of disruptive companies in early stages integrating to its portfolio: Ares Materials, Billpocket, Travel Guru, Yotepresto, Troquer, Crabi and Sojourn. With this investment, the fund reaffirms its leadership in the ecosystem by making investments in companies with a solid technological base and with great scalability potential.