• Turkish proptech Missafir has acquired Golden Leaf Properties to enter the Central European market and expand its short- and medium-term housing rental management platform.
• The acquisition includes more than 110 high-quality villas and apartments in popular tourist destinations in the Adriatic region, such as Sibenik, Split, the islands of Hvar, Zadar and Trogir.
• Missafir aims to become the largest European accommodation brand in the short to medium term by providing comprehensive services such as furnishing, cleaning, SEO and customer service to owners in these destinations.
The Turkish company’s strategic decision to establish and expand in Croatia has historical significance for it to become a global brand that presents Turkish hospitality to the world, said the company’s founder and CEO. Mehmet Yüksel said.
“We are entering a region that is one of the most popular tourist destinations in recent years, with a broad portfolio and a talented team. This will provide us with a competitive advantage to enter the market and will be a strategic step towards expansion into Central and Eastern European countries which we will continue to pursue rapidly,” Yüksel said in a statement.
Missafir’s property management system provides registration, management and communication with guests on more than 35 platforms. The company’s solution has digitized the entire vacation home rental and management experience, while providing dynamic pricing and full automation, among other benefits for owners.
Golden Leaf Properties was established in 2014 and specializes in high quality short term rentals. According to one of its founders, Maksimilijan Šprung, the Croatian company is now excited to be part of an international brand.
New products in the luxury and VIP segments
With the recent acquisition Missafir will also look to add new products, mainly in the luxury and VIP segments, and offer more services to foreign tourists looking for a luxury travel experience during their vacation.
“In recent years, we have made significant technological investments and believe we have the best technological infrastructure on the European market. With this acquisition, we have created a strong environment to integrate our technology from day one and benefit from their local market and operational experience. This is an experience that allows us to have a snowball effect in Croatia and quickly penetrate other markets. Yuksel added.
The latest agreement also presents a growth trend of investments and transactions in the prop technology space in the region. At the end of 2021, the Turkish startup raised $550,000 and has now expanded its service coverage with over 2,000 households in over 100 popular locations in Turkey, Northern Cyprus, Montenegro and Mykonos.