Serviced Apartments Platform AG acquires Acomodeo

George Sell George Sell Uploaded 27 August 2021

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Switzerland/Germany: Zurich-based Serviced Apartments Platform AG, which has invested in Acomodeo since 2020, has completed the total acquisition of the online booking platform.

Acomodeo is a German start-up headquartered in Frankfurt, founded by Eric-Jan Krausch.

"It has been a turbulent year. Due to refinancing needs in the middle of the Corona crisis, we were dependent on new shareholders," said Krausch. "In addition to the support from customers and suppliers, it was the backing of Serviced Apartments Platform AG that got us through this challenging time and enabled us to continue to further develop and grow."

Since Krausch raised more than €10 million in venture capital for Acomodeo, which enabled him and his co-managing director Peter Ashworth to continuously develop their technology platform, grow a global client portfolio and build a close co-operation with inventory and booking partners. As a result, Acomodeo became the first portal "to enable customers to book accommodation from one night up to two years within a fully integrated and customisable application that meets the needs of both companies and travellers".

Acomodeo has gained more than 40 major client companies, including several DAX heavyweights.

Anja Graf, chair of the board of directors of Serviced Apartments Platform AG, said: "Serviced apartments represent an important strategic pillar in our company. The technical infrastructure, services, client base and experienced team acquired through Acomodeo, further ensure the efficiency of our business travel services while also underlining their strategic significance."

Graf's goal is to further expand Acomodeo and is already investing in international sales offices to this end.

"Acomodeo is recognised worldwide and strongly established in German-speaking countries. Now Serviced Apartments Platform AG, will take the next step," said Krausch. "By selling my shares, I'm taking the opportunity to take my first time off in over six years and focus on my son born this July."

As a part of its integration, the management team of Serviced Apartments Platform AG will be taking over the reins of Acomodeo from Krausch and Ashworth, effective from September 1, 2021.

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