How Blueground is taking the idea of temporary rentals to its logical conclusion
By Amy Poliakoff
In the age of remote working, traveling while working from “home” is the new norm. And where companies like Airbnb have experienced occupancy drop-offs recently due to a surplus of property owners looking to rent out their second homes, new property tech company Blueground is finding a balance. Blueground allows companies and individuals to book apartments anywhere in the world online, like Airbnb, but only for long-term leases over 30 days and with more amenities and support. Guests can book stays in any city, including Miami, and move easily between apartments based on availability.
“Our mission is to reinvent the way people live, with apartments available where they want, when they want, and on the terms they want,” says CEO and co-founder Alex Chatzieleftheriou. “While our minimum stay is 30 days, Blueground guests stay with us for months, and even years – 45 percent of guests extend their stay [and] 20 percent have stayed in multiple apartments.”
Founded in 2013, the company now has properties in over 30 cities across 16 countries, mostly in North American and Europe, with 1,200 team members worldwide. In the U.S., Blueground’s Miami office, located in the artsy Wynwood area, is one of its most important. “In Miami, we have [apartments in] neighborhoods from Coral Gables to Brickell, Wynwood, and Doral. We even have homes in Fort Lauderdale,” says Agnes Pierre-Louis, general manager of Miami Blueground. “Each neighborhood suits different needs for different types of tenants. Brickell is great for our corporate customers and Wynwood for our younger audience.”
Blueground caters to a wide range of long-term travelers, from those moving for work to individuals looking for a lifestyle change, by offering flexible, fully furnished, turnkey homes for rent. Apartments are available for sharing if renters want a shared space in exchange for a lower price, and guests can manage their stays from start to finish with the Blueground app, where they can make payments, request a home cleaning, and more.
“The app provides knowledge of the apartment, location, access, and support for any requests,” says Pierre-Louis. “Blueground has local teams on the ground to help solve any maintenance issue, which streamlines the typical landlord communication model.”
A separate division within the company, Blueground for Business, works with HR and travel managers to settle new employees into new locations. The division makes up 35 percent of the company’s business and has over 4,400 clients globally, with plans to double this year. Clients range from startups to Fortune 500 companies.
New York-based Blueground’s competitive advantage is that it offers apartments move-in ready, with upscale furniture and supplies already stocked. Welcome kits including snacks, towels, and trash bags, and discounted access to lifestyle partners like Hello Fresh, which supplies meal kits, and Equinox, a high-end gym with locations worldwide. Other lifestyle partners include Naked Wines, Laundry Heap, Hertz, and Anytime Mailbox.
Design is another tenet of Blueground’s philosophy. It recently launched Blueground Bespoke, which incorporates elevated design to push the boundary of typical apartments’ appearances. The first Bespoke apartment was launched in New York City, a five-bedroom penthouse on Billionaires Row in Midtown with patterned wallpapers and designer furniture.
In 2022, Blueground’s revenue reached $300 million and is expected to double this year, partly helped by its acquisition of Tabas, a Brazilian proptech startup that will help Blueground expand in Latin America. Later this year, it will launch a new service allowing guests to book 12-month leases, with the option to change apartments every 30 days. Chatzieleftheriou is hoping to expand to 50 new cities worldwide by 2025, especially in Latin America.
