Business

Casai expands across Mexico and is set to launch in new Latin American markets this quarter

The Mexican short-term rental startup expects to reach 500 properties in its base by the end of the year

Casai's Co-founder and CEO Nico Barawid. Photo: Casai/Courtesy
  • Short-term rental startup Casai said it saw 40% growth in domestic occupancy, even with travel restrictions liked to the COVID-19 pandemic;
  • The startup has launched a new product focused on the “new normal”: Getaways by Casai;
  • In addition to new Mexican destinations such as Puerto Vallarta and Riviera Maya, Casai expects to launch in other Latin American markets as soon as this quarter.

Mexico-City based startup Casai has announced that is expanding for new tourist destinations within the country, such as Puerto Vallarta and Riviera Maya. The company had previously about 200 units in Mexico City.

Back in October, the Airbnb-like platform raised $48 million, Mexico’s largest Series A, and one of the largest ones in Latin America. Casai, which claims to be the first startup in Mexico to offer accommodation in apartments with hotel amenities, will now operate in new tourism hotspots out of Mexico City through its new product Getaways by Casai.

READ ALSO: COVID-19 pandemic has cost Mexican tourism more than 11.6 million international travelers

The new product includes a range of different accommodation types including contemporary houses and villas aimed at families or small group looking to escape from the routine or people who want to work remotely.

“We are extremely proud to promote tourism at such a difficult time for the industry. In less than a year we have grown our operations to more cities and soon we will do so to new markets,” said Nico Barawid, founder and CEO of Casai.

By 2021, the startup plans to continue growing the number of units offered through Getaways in new regions of the country, estimating about 500 properties by the end of the year. Casai also confirmed the expansion to new Latin American markets by the end of the quarter.

Even with new travel restrictions related to the COVID-19 pandemic being imposed in up to seven neighboring countries to Mexico, Casai says it saw over 40% growth in domestic occupancy of its properties during the last weeks.

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