Serviced apartment group NUMA doubled its revenues in 2024, as the company executed on a comprehensive growth plan that included new property openings, and corporate acquisitions.
For full year 2024, the company sold over one million room nights, adding EUR80 million in revenues and EUR50 million in gross profits. The company now trades from sites in 36 European cities, across 15 country markets on the continent.
Using technology from the start
One key reason for the strong performance is the group’s technological focus, according to CEO Christian Gaiser. “We are redefining the hospitality industry by leveraging cutting-edge technology-driven solutions to meet the evolving needs of modern travellers. In the last few years, we’ve built a profitable, resilient European business based on sustainable rent coverage ratios and a strong balance sheet.”
One key new market entry during 2024 was a launch into the UK. The opening of NUMA Bloom in London was followed by the acquisition of the Native Places lifestyle apartment brand, bringing with it more than 800 apartments across sites in London, Edinburgh, Glasgow and Manchester. In the Nordics, a partnership with landlord Invesco Real Estate led to NUMA’s first site in Copenhagen.
NUMA also expanded its presence in Spain and Portugal. It opened an apartment complex in Madrid, partnering with owner Alting to reinvigorate a commercial building. In Lisbon and Malaga, new properties were secured, while there was also growth in Italy with additions in Florence, Rome and Venice.
“NUMA plans again for strong national and international growth in 2025 and beyond,” added Gaiser. “These achievements highlight our ability to scale while delivering exceptional guest experiences. We are actively exploring further M&A opportunities to strengthen our position as the most forward-thinking AI-driven operator in the hospitality sector.”
Partnerships with investors and developers helped drive growth. Amundi Immobilier in France allowed NUMA to launch its Grand Paris property, while other developers including Ratisbona Iberia and Deka Immobilien also yielded new hotel buildings in Spain and Germany.
Automated systems drive profits
NUMA has, from the outset, had technology at the core of its business. That feeds through in a number of ways, helping to promote efficiency in operations. Around 65% of guest communication is automated, with rooms assigned using AI agents. Further use of AI will ensure more issues are resolved more quickly, with faster reservation processing. In future, NUMA expects to deploy AI around room cleaning and more proactive maintenance, as well as in future fit out planning.
With the group planning to once again grow at a similar pace in 2025, there is already a strong pipeline of new projects in development. These include two sites in Berlin, Numa Hotel Berlin Mitte and Berlin Koloniestrasse. Also coming in Germany are serviced apartments in Dusseldorf, Hamburg and Munich. Outside Germany, further projects are under construction in Florence, and Rome.
