Hometime, a property management service company for the short-term rental market Airbnb, has announced the acquisition of Hey Tom, a Sydney-based Airbnb property management provider.
Hometime CEO and co-founder Dave Thompson said that the acquisition strengthens Hometime’s position in the short-term home rental market.
“Hometime has experienced and managed substantial growth through a combination of our technology and platform, outstanding host and guest support, and the direct benefits that our close relationship to Airbnb provide.
“The Hey Tom team shared our vision, ambition and commitment to ensuring we are collectively the best choice for a host to manage their home — which we do with great care and consideration.”
William Crock, Hometime co-founder and COO, said that there were substantial synergies to be had in the move.
“We are delighted the Hey Tom team chose to combine forces with Hometime,” Mr Crock said.
“We were impressed by the quality and professionalism of their operation and believe, in combination, we will continue to advance our leadership in the Australian market.”
Hey Tom was founded in 2015 by Joel Cacciotti, Phillip Rose and Luke Baker.
Mr Cacciotti said that the fit was a good one.
“We are thrilled to join Hometime in the journey to become a leading global provider of Airbnb property management services. Phillip, Luke and I felt that the scale, technology platform, Airbnb professional co-host status, and ambitions of Hometime demonstrated that they were the right partners to join forces with.
“We will continue in the business as part of the Hometime management team. We will ensure a seamless transition for our property hosts and look forward to accelerating our growth together.”
Hometime was advised by Asia Principal Capital for the transaction.
A partner of APC, Martin Dalgleish, an ex-PBL and Optus senior executive and experienced technology investor and director, is chairman of Hometime.