Limehome, a leading operator in the tourist-apartment sector, has secured €75 million to accelerate and deepen its presence in Spain. The investment will fund expansion toward a 10,000-unit portfolio, upgrade technology and guest services, build local partnerships and teams, and drive the company toward projected revenues of €300 million.
Limehome, a major player in the tourist apartment market, has secured €75 million in funding, setting its sights on expanding in Spain and reaching a total of 10,000 units by adding tourist apartments, aparthotels, and hotels. This investment is chiefly sponsored by Cheyne Capital, and will accelerate the company’s growth in key markets like Germany and Spain, while also strengthening its presence in France, Italy, and the UK.
Since its inception in 2018 in Germany, Limehome has expanded to 13 European nations. It has quickly become a significant player in Spain, particularly following its entry into the market during the pandemic in 2020, when it was one of the few businesses still signing contracts despite the market slowdown. Now, Limehome is firmly established as a leading operator in the industry.
Currently, the firm boasts around 1,000 fully operational units in Spain along with 2,500 more on the way, expected to come online in the next five years. This year, the company plans to introduce an additional 600 to 1,000 new units through fresh agreements, enhancing its portfolio, much of which is still under construction or in development stages.
If all signed units were operational today, Limehome would be nearing €100 million in revenue, a significant increase from the €30 million they reported last year.
The growth strategy is centered in large Spanish cities like Madrid, Barcelona, Seville, Valencia, and Malaga, although Limehome is also expanding into secondary markets. The company is now actively operating in 20 cities across Spain and has signed projects in nearly 30, with recent openings in locations like Alicante, Palma de Mallorca, and Benidorm, and anticipates new launches this year in places such as Ourense.
Madrid holds particular importance as a strategic market. “We aim to have 2,000 apartments in Madrid, and there’s a substantial opportunity given the demand and supply gap,” the company noted.
Limehome’s strategy prioritizes central locations while also considering well-connected suburban areas where potential profits align. Their approach combines smaller buildings with larger projects, some being developed from the ground up and others revitalizing older, unused offices.
Innovative Technology
The backbone of Limehome’s operational strategy lies in advanced technology and digitized processes. Approximately 60% of guests do not interact with staff during their stay, utilizing a fully digital check-in system along with automated customer service and billing. With average occupancy rates hovering around 90%, Limehome employs dynamic pricing akin to traditional hotels.
