Flexible travel trends and the ongoing diversification of property uses are driving a convergence of hospitality and property management technologies. It represents the latest chapter in the blend between hotel and short-term rental technology services, but also represents a “battleground,” according to one investor, as property managers take a leaf out of the travel industry’s book to identify new revenue streams. On one side, the growing number of mixed-use properties creates gaps for a new breed of tech-enabled hospitality companies, in particular non-hotel brands, to enter new markets. They’re able to expand almost effortlessly into multifamily buildings, apartment blocks or even converted offices. On the other side, property owners eye lucrative synergies with the travel industry and opportunities to maximize value from tenants and residents. In the current commercial market, landlords are under pressure to deliver. “The value of real estate is the value of its cash flows, and those cash flows are driven by the utilization of the asset and the quality of experiences within the market,” said Jason Fudin, CEO and co-founder of flexible real estate platform Placemakr. “When you have a building that meets either multiple needs for a single customer, if a customer wants to co-work and stay, or live, or whatever else, that drives more revenue for you as the owner.”

AJU CONTINUUM Selects Kasa to Operate Former Ace Hotel, Driving Reimagined Guest Experience and Profitability Under "STILE" BrandLOS ANGELES, June 11, 2024 /PRNewswire/ -- AJU CONTINUUM, a global investment company specializing in real estate, branding, and technology, today announced its partnership with Kasa Living, Inc. ( www.kasa.com ) to manage and operate the historic property at 929 South Broadway in the heart of downtown Los Angeles. Formerly the Ace Hotel Downtown Los Angeles, the reimagined property has been relaunched as STILE Downtown Los Angeles by Kasa.Since assuming management in February, Kasa has driven significant improvements across key metrics, including guest review scores, revenue generation, and profit margins. By implementing its proprietary technology stack and centralized operations, Kasa has lowered operating expenses while maintaining high-quality guest experiences and honoring the property's storied legacy."Partnering with Kasa has introduced us to a modern, efficient approach to hotel management, seamlessly integrating with our lifestyle accommodations brand, STILE," said Jaisun Ihm, Chief Executive Officer at AJU CONTINUUM US. "Kasa's proven expertise in implementing modern hospitality practices has resulted in measurable improvements to our operations and profitability. Kasa has refined traditional hotel management, enhancing profitability while delivering the perfect balance of efficiency, guest experience, and brand DNA.""The neighborhood is continually evolving with a thriving art scene and cutting-edge business developments

TP-Link started off with Kasa and later launched Tapo.