Hilton partners with Placemakr on apartments

McLEAN, Virginia – Hilton is getting into the furnished apartment business with the U.S. launch of Apartment Collection by Hilton in partnership with apartment brand and operator Placemakr, which offers short-term and extended-stay accommodations in urban and suburban markets.

Initial destinations include New York City, Washington, D.C. and Atlanta with additional growth expected through the partnership with Placemakr and additional franchise agreements with new owners in the multi-family segment. It builds on Hilton’s existing global inventory of approximately 10,000 apartment-style units, adding as many as 3,000 new units through its partnership with Placemakr.

Placemakr has leveraged organic growth and asset-light management agreements with its business model and is centered on partnering with multi-family building owners to convert either an entire building or a subset of units in an apartment building into furnished short-term rentals.

Apartment Collection by Hilton offers studios to four-bedroom furnished apartments that include chef-ready kitchens, separate living areas, on-site laundry, and 24/7 on-site team member support. Guests will also enjoy access to fitness centers and select properties may also feature rooftop pools and terraces, communal gathering and workspaces, and on-site dining and retail.

“Apartment Collection by Hilton represents the next chapter in Hilton’s growth story and the ways we are evolving to meet growing guest demand for this dynamic segment of hospitality,” said Hilton President and CEO Chris Nassetta. “With this new brand, we are continuing to pioneer the future of the hospitality industry, giving guests even more ways to choose Hilton for every stay, backed by our service and reliability.”

“After an extensive search, Hilton is proud to partner with Placemakr to introduce Hilton’s new lodging category,” said Chris Silcock, president, global brands and commercial services, Hilton. “We’ve long seen the opportunity to deliver hospitality-driven apartment stays, offering spacious accommodations, thoughtful amenities, and authentic connections to local neighborhoods, and Placemakr shares that vision. For nearly a decade, they’ve demonstrated a strong commitment to guests through high product standards and exceptional service.”

“Placemakr is proud to bring our deep expertise in the furnished apartment space to this innovative new brand with Hilton,” said Bao Vuong, co-founder and president, Placemakr. “We’re thrilled for Hilton guests and Hilton Honors members to experience what we’ve built over the past decade. We’ve pioneered the furnished apartments asset class property by property, stay by stay, and to continue that work alongside the world’s most valuable hotel brand is so exciting.”

“We’re also excited for what this means for our real estate partners,” added Jason Fudin, co-founder and CEO, Placemakr. “Hilton’s industry-leading commercial engine and scale will help create even more value for our partners while accelerating our mission to maximize the value of real estate through flexibility. This marks a new chapter in flexible real estate, and we couldn’t be more excited.”

PJT Partners and Goldman Sachs & Co. LLC were the strategic financial advisors on this partnership for Hilton and Placemakr, respectively.