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WhyHotel is an alternative hospitality service provider that creates pop-up hotels. The company uses yet-to-be-leased units in new apartment buildings as fully furnished hotel suites. As such, the company does not own any real estate listings.
WhyHotel was founded in January 2017 by real estate developers Jason Fudin and Bao Vuong. [1]
The company's first pop-up hotel was a pilot program from January to May 2017 which included 50 empty units at an apartment building in Pentagon City, Virginia, owned by owned by Vornado Realty. [2] WhyHotel then spun off of Vornado Realty and became an independent, venture-backed startup in the summer of 2017. [3]
The company received $3.9 million in seed funding in June 2018, [4] and $20 million in Series B funding in December 2019. [5]
In 2018, WhyHotel opened pop-up hotels in Baltimore and Washington, D.C. [6] [7] [8] T
he following year, in 2019, WhyHotel opened pop-up hotels in Ballston, Virginia in April 2019, Seattle in September 2019, and Tysons, Virginia in December 2019. In 2020, the company has opened a pop-up hotel in Houston and announced new locations in Maryland, and Arlington. [9] [10]
In May 2019, WhyHotel announced a new business arm called Hospitality Living, which aims to deliver flexible use home and hotel buildings constructed by WhyHotel. The company aims to construct the first of this type of building in 2022. [11]
Penn 1 is a skyscraper in New York City, located between 33rd Street and 34th Street, west of Seventh Avenue, and adjacent to Pennsylvania Station and Madison Square Garden. It is the tallest building in the Pennsylvania Plaza complex of office buildings, hotels, and entertainment facilities.
Vornado Realty Trust is a real estate investment trust formed in Maryland in 1982, with its primary office in New York City. The company invests in office buildings and street retail in Manhattan.
Forest City Realty Trust, Inc., formerly Forest City Enterprises, was a real estate investment trust that invested in office buildings, shopping centers and apartments in Boston, Chicago, Dallas, Denver, Los Angeles, Philadelphia, and the greater metropolitan areas of New York City, San Francisco and Washington, D.C. The company was organized in Maryland with its headquarters in Cleveland, Ohio. As of December 31, 2017, the company owned 29 office buildings, 29 shopping centers, and 78 apartment complexes. On December 7, 2018, the company was acquired by Brookfield Asset Management.
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OYO Rooms, also known as OYO Hotels & Homes, is an Indian multinational hospitality chain of leased and franchised hotels, homes, and living spaces. Founded in 2012 by Ritesh Agarwal, OYO initially consisted mainly of budget hotels. As of January 2020, it has more than 43,000 properties and 1 million rooms across 800 cities in 80 countries.
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