Apartment-style lodging provider Mint House has raised $35 million in a Series B round of funding, the company announced Wednesday. Founder and CEO Will Lucas in a statement said Mint House would use the funding to accelerate “our product roadmap and market expansion.”
The round was led by Mohari Hospitality. Allen Smith, Mohari’s managing director and former CEO of Four Seasons Hotels and Resorts, will join Mint House’s board of directors. Existing investors Revolution Ventures, Allegion Ventures and Ingleside Investors also participated.
Founded in 2017, Mint House now operates 22 properties in 14 markets, including New York City, Miami and Nashville. Its properties feature full kitchens and workspaces in downtown areas. The company has a partnership with American Express Global Business Travel.
Mint House has said it views business travel as a key segment, and Lucas in a statement said post-Covid corporate trends had boosted demand and claimed the company increased’s revenue in 2021 had more than 200 percent.
“Secular megatrends including ‘explosive work from anywhere’ and the mixing of business and leisure travel are driving demand for flexible apartment-style accommodations in lieu of legacy hotel rooms,” Lucas said.
Mint House has raised more than $80 million to date, according to the company.