Placemakr, a leading operator in the flexible-use hospitality and multifamily space, has reached a major milestone, achieving profitability in June 2024. This marks a significant achievement for the company, which has been steadily expanding its operations and property portfolio since its founding in 2017.
The company’s profitability comes on the heels of new property openings throughout 2024, including expansion into new markets like Atlanta. Placemakr has also continued to grow its presence in existing markets such as Washington, DC, and Texas. This achievement is particularly noteworthy given the ongoing challenges facing the real estate industry, including the COVID-19 pandemic, economic difficulties, and high interest rates.
Despite these obstacles, Placemakr’s adaptable business model has proven resilient, enabling the company to navigate these complexities and achieve sustained growth. The company currently employs over 300 individuals nationwide and generates nearly $150 million in annualized bookings.
Jason Fudin, CEO and Co-founder of Placemakr, expressed his pride in the team’s accomplishment, stating, “We are incredibly proud of this achievement, which has been seven years in the making. I’m grateful to our amazing team and all of our real estate partners on this journey. Today, we’ll celebrate this milestone but tomorrow we’ll roll up our sleeves and get back to growing our property footprint and continuing to refine our platform.”
Placemakr’s commitment to providing flexible living solutions has resonated with the market, driving the company’s strong performance. As Placemakr continues its journey to institutionalize the flex living asset class, the company anticipates further property launches later this year, further solidifying its position as a leader in the evolving hospitality and multifamily landscape.
