The Japanese market is expanding Blue ground concluding the first franchise agreement with Mitsubishi Estate. According to a related announcement, the franchise agreement is part of Blueground’s new strategic development model, which currently manages a portfolio of 15,000 apartments in 32 cities internationally.
Mitsubishi Estate is active in the development and management of real estate and hospitality. As part of the partnership with Blueground, it plans to develop an extensive network of 13,000 furnished apartments in major Japanese cities under the brand Blueground Japan. It is noted that Blueground is active in the rental and exploitation of furnished apartments, offering the possibility of renting them for 30 days or for a longer period. After reaching an agreement with the owners to lease their properties, he proceeds to furnish and equip them, turning them into high-quality spaces.
Mitsubishi Estate will have access to Blueground’s customer base, expertise and technology, including operating systems, pricing model, etc. In parallel, Blueground has established a dedicated team that will provide ongoing support to Mitsubishi Estate and all future franchise partners. It is noted that in recent years the company has also acquired companies in order to expand into new markets and to include new services. For example, it recently acquired the digital platform for renting furnished apartments Nestpick. The latter specializes in renting furnished homes through agreements lasting more than 30 days, which is also the sector in which Blueground operates. In this context, with the acquisition in question, the Greek company intended to create a network of partners that it calls Partner Network.
This is the third acquisition of Blueground in a row, as it was preceded by the absorption of the American company Travelers Haven. Through this he aimed to expand further into the market of USA and to offer services to more customers, who wish to rent apartments also outside the big urban centers. Travelers Haven provided apartments for rent in approximately 20,000 areas of the US, which were available on demand, i.e. at the request of the customer, furnishing them according to their needs. At the same time, the Brazilian startup had also come under the control of Blueground Tabasa move that allowed it to enter its market of Mexico and its further expansion in Latin America.
