Project Luxury

This company is based in Australia and manages thousands of apartments via its platform for owners in Australia, who put their apartments into online letting pools, within apartment hotels and as stand-alone homes. The platform is a profitable, growing, tech-enabled hospitality platform with over 8,500 apartment lot facilitites under management which is more that double what it was in FY2019 (4,077 apartment lots under managment). Moving forward, it is anticipated to reach 15,000 apartment lots by FY2024. Despite COVID-19 limiting travel, Project Luxury has remained profitable. In FY2021, revenue and operating profit were $26.1 m and $7.5m respectively. In comparison - prior to the pandemic - during FY2019, the revenue and operating profit were $21.2m and $7.7m respectively. Long term, it is expected to reach an estimated $90.6m and $13.8m respectivley by FY2024. The company has been successful in running both long stay (tenanted apartments) and short stay accomodation and remains profitable despite the pandemic Project Luxury aims to build on the growing trend of apartment hotels as a flexible option for vacationers and corporate travelers, by acquriing further managment rights in Australia.