RESIDE Worldwide, Westbridge Capital‘s alternative accommodation brand, has acquired Seattle-based ABODA, a provider of housing solutions. No financial terms were disclosed.
SEATTLE, WA (PRWEB) DECEMBER 05, 2017
Westbridge Capital Ltd. (Westbridge Capital), a private equity management company, announced today that it has acquired an indirect controlling interest in ABODA, Inc. (ABODA), a Seattle-based leading provider of global housing solutions, to be owned by RESIDE Worldwide, Inc. (RESIDE Worldwide).
“Since its inception in 1988, ABODA has evolved into one of the leading providers of corporate housing in the industry. ABODA’s exceptional financial performance, coupled with a culture of quality and service, state-of-the-art technology and an outstanding employee and management team made it the logical choice for our first acquisition in this very exciting segment,” said Michael Meekins, President of Westbridge Capital. Meekins continues, “The acquisition of ABODA fits nicely in the launch of our alternative accommodation brand, RESIDE Worldwide. ABODA will be the launching point of our mission to acquire and roll up the best performing companies in and outside of our industry. In addition to the roll-up, RESIDE Worldwide will pursue targeted real estate acquisitions and building management opportunities.”
Newly named RESIDE Worldwide Chief Executive Officer, Lee Curtis, CCHP, said, “We see RESIDE’s core mission as that of an innovator, bridging the gap between the housing and hospitality markets. RESIDE will be able to satisfy growing consumer demand for alternative housing by offering clients and guests a broader range of choice and flexibility for global accommodations, while still offering high quality, flexible, vetted options coupled with outstanding customer service.”
Curtis goes on to say, “We are very excited about building upon ABODA’s momentum and reputation and maximizing the team’s potential, led by Dave Caple, CCHP, President of ABODA, to carry out the RESIDE Worldwide growth plan.”
For more information, please contact Jocelyn Quall at Jocelyn.quall(at)aboda(dot)com or call (425) 602-5535
Westbridge Capital Ltd.
Westbridge is a private equity management company. Westbridge focuses on real estate and private equity investments that by their nature have little correlation to publicly listed securities and may be used to diversify a portfolio and reduce overall portfolio risk and volatility.
RESIDE Worldwide, Inc.
RESIDE Worldwide is an alternative accommodation firm headquartered in Seattle, WA focused on providing vetted and flexible accommodations options to global travelers no matter the destination or the duration of their stay. RESIDE Worldwide owns a variety of hospitality companies, including RESIDE Management and RESIDE Properties.
ABODA is an innovative leader in global housing management services, providing end-to-end solutions to some of the biggest brands in the world, many headquartered in the Seattle area where the firm is based. ABODA Global Housing Management uses a logistics-focused approach, combining the best of program planning and administration, inventory management, execution, service delivery and technology to help corporate clients operate more efficiently and enhance customer experiences. ABODA also offers furnishings, property management, and cleaning services in the Greater Seattle Area. ABODA is flexible enough to meet clients’ ever-changing business needs through its award-winning customer service. Learn more about ABODA at http://www.aboda.com or call 1-888-389-0500.