The Guild, specialist in home-like hotels, gets funding for expansion

The Guild's lobby in its Miami property.
The Guild's lobby in its Miami property.

The Guild, a company that leases space in mixed-use buildings and rents the apartments as hotel suites, has secured $9 million in Series A funding and expanded to Miami and Cincinnati. 

The Austin-based company, established in 2016 by Chris Herndon and Brian Carrico, already had hotel inventory in Austin and Dallas. The Guild plans to be in Denver by the end of the year.

The Guild's rates range from $150-$300 per night. According to co-CEO Carrico, The Guild's units promise more space than a traditional hotel room, typically offering a full kitchen, and are designed to "let people live more normal lives" while traveling.

An Guild apartment in Dallas.
An Guild apartment in Dallas.

Available for bookings starting this week, The Guild's inaugural Miami property totals 80 units, while its Cincinnati property features 50 units. The company plans to launch in Denver with 50 units. The new accommodations join The Guild's existing presence in Austin and Dallas, where the company collectively operates about 250 units across 10 properties.

"Mixed-use properties often have ground floor retail, perhaps some office space, and now they can rent out a few floors as a hotel, and the rest can be residential," says Carrico. "That's the powerful aspect of this business model. You don't have to create purpose-built assets from day one. The world is moving toward a more flexible use of space, and this allows us to move toward that future and create a unique hotel experience."

A typical Guild property lease lasts two to 10 years and is structured much like a retail contract. 

The latest funding round was led by venture capital firm Maveron, with Corigin Ventures and Pernod Ricard's Convivialite Ventures among the other major investors. Chip Conley, former head of global hospitality at Airbnb and the founder of the Joie de Vivre hotel brand, is on board as an investor and advisor. 

By the end of the year, The Guild plans to operate more than 450 units across its five markets. The company expects to grow its reach to over 1,000 units across five to 10 markets by the end of 2019.

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