Cozystay Partners with More Developers - A Win-win during a Challenging Time for Real Estate
Cozystay, the Vancouver-based new accommodation group, and a Kelowna-based smart micro-living developer have partnered to give globetrotters and other short-term renters a new way to stay in the heart of BC wine country.
This Cozystay’s second centralized property in the Kelowna area in the past 8 months, following Cozystay Signature Lake Okanagan Resort.
The signing ceremony for the Unik-Town partnership happened in early January. “This partnership is a win-win for both companies and also shows a way forward for BC’s real estate development sector, which needs to innovate out of some difficult trends,” says, Cozystay CEO Galen Cheng.
This business relationship is a template for Cozystay’s future line of business, Cheng explains. “In addition to Vancouver, Richmond, Toronto, Kelowna, Kitchener, and Los Angeles, Beijing and other cities in Canada, Cozystay is also actively exploring markets in the United States, Australia, Japan, and China. There are currently nearly 1,000 units under management and operation.
Right on the tail of the Unik-Town deal, another partnership with a Japanese developer has just been confirmed.
As the largest overseas Chinese Airbnb-style hospitality business, Cozystay works with major real estate developers to manage the operation and booking of vacation rental properties. “When we first came on to the scene, people compared us to AirBnB or other players in the short rental space,” Cheng says. “We went down a different path, focusing on select properties creating an authentic lived experience. And now we have a new path.”
Taxes and regulations around short-term rentals are affecting real estate sectors far and wide. “That’s why we have a ready-made digital solution that lets us help the developers and the world travelers who want to enjoy a convenient, local lifestyle in some of the most desirable destinations around.”
Cozystay has helped developers to increase their rental income by applying its global online platform channels and offline professional management.
That type of business is squeezed between high taxes, cooling prices and obstacles to foreign investment in west coast real estate. To respond, developers have looked at how it can improve the return on investment for their investment clients. That’s where Cozystay comes in.
About Cozystay Holdings Inc.
Cozystay is an innovative accommodation group with a growing portfolio of hotels, vacation rentals, and resorts under management. Originally launching as a vacation rental service for short-term stays in select properties, the company today is focusing on selected properties (sub-brand Cozystay Signature) and vacation rental management software.
Author by Jonathon