Exclusive: Dash Living buys HK hotel via Mindworks JV

Dash Living, a Hong Kong-based rental solutions provider, has acquired local hotel Travelodge Central Hollywood through a joint venture with Mindworks Properties, a global real estate asset manager.

Hotel Travelodge/ Photo credit: Dash Living

Dash Living, which talked about the deal in an exclusive interview with Tech in Asia, said it will rebrand the property, which has over 58,000 square feet in gross floor area consisting of 148 rooms and common spaces for long-term and short-stay needs. To be called Dash Living on Hollywood, it will be renovated to include communal facilities and co-working and leisure areas.

Dash Living on Hollywood will be fully managed by the joint venture and Dash Living, pushing its total portfolio to over 2,000 units in the Asia-Pacific region. Earlier this year, Dash Living was appointed as the sole operator of Travelodge.

“Over the recent years, we have been a strong believer in several value-add themes across various asset classes to advance our owners’ investment portfolio in Asia Pacific namely digital transformation, generational change in living needs, the sharing economy, and work-from-home trends,” said Dash Living founder Aaron Lee in a statement.

The company expects its newest acquisition to help attract returning expats, students, business people, and leisure travelers, bolstered by its positioning as a co-living hotel amid the reopening of Hong Kong’s borders. Dash Living on Hollywood is expected to launch in early 2023.

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In 2022, Dash Living acquired Inthehood in Japan, added Dash Living on Mackenzie and Dash Living on Kinta in Singapore, and Dash Living on Prat in Hong Kong.

Meanwhile, MindWorks Properties focuses on non-traditional real estate sectors such as co-living and hospitality, logistics and storage, and data centers. It is affiliated with MindWorks Capital, a VC firm that manages over US$1 billion in total net asset value across its various funds.