Berlin's Myne is one business thinking on smarter ways to market exceptional vacation properties, using the co-ownership model to lower price points.
In the last two years, Myne has grown market share for its holiday property platform, with homes available for a first time investment of just €50,000.
MYNE's holiday home portfolio allows 2 to 8 customers to club together for a stake in prime vacation destinations, like the Austrian Alps, Portugal or Majorca.
Originally focused on DACH customers, MYNE is now active across the EU. It's announcing its acquisition of German competitor VillaCircle to add the latter's luxurious lodgings in Spain, Austria and Croatia, as well as in the French Riveria. Accordingly, MYNE's looking to the future by ramping its portfolio into more European destinations.
Modernising access to vacation homes increasingly is a pan-European theme, following on the heels of US innovators, including the unicorn valuation Pacaso which claims to have attained a $1 billion+ valuation in record time for a US-based company.
With that in mind, VillaCircle founder and managing director Roland Schaber says joining hands with Myne is a vindication of his company's growth journey.
"Since VillaCircle was founded almost two years ago, we have enabled our customers to achieve their dream of owning a holiday property with our managed co-ownership model," Schaber.
"As a result of us joining forces with MYNE and the resulting stronger market position, we can now offer customers and partners an even broader high-quality range, and at the same time achieve the necessary scaling to make co-ownership a reality for more people. We look forward to overseeing the transfer of the VillaCircle offering to the MYNE platform.”
A €23.5 million seed round for MYNE was closed off last year with the deal then touted as pathway into the Italian and French vacation markets, followed by potential growth across Europe.
MYNE managing director and founder, Nikolaus Thomale, adds: "Acquisitions play an important role for us in further growth and underline our claim to be the leading platform for investments in holiday properties in Europe. With the expansion of the portfolio to additional destinations, and a strengthening of the offer in the luxury segment.
"MYNE is appealing to an even larger target group. Our strong growth is aided by globally high interest rates, inflation, and significantly increased maintenance costs for real estate.”"