Blueground: Plans for Expansion and Stock Exchange Listing

Blueground, a leading provider of furnished rentals catering to stays of 30 days or more across 32 cities and 17 countries, is poised for further global expansion.

With a substantial portfolio boasting 15,000 apartments, the company made significant strides in 2023, solidifying its presence in Latin America with operations in Mexico City and gearing up for a Japan launch next month. Additionally, Blueground is actively pursuing franchise agreements and joint ventures to enter new markets.

Reflecting on the company’s growth trajectory, co-founder and CEO Alexandros Chatzieleftheriou hails 2023 as a “year of milestones and growth.” In Athens, where Blueground operates amid robust demand, expansion plans target high-demand areas like Marousi, Kifisia, and Glyfada, with occupancy rates remaining strong. Despite global economic headwinds and environmental challenges, Chatzieleftheriou asserts that Blueground remains resilient.

Addressing regulatory concerns, Chatzieleftheriou notes that recent taxation changes have minimal impact on Blueground’s business model, primarily focused on medium to long-term stays exceeding 30 days. The company strategically avoids heavily touristic areas like Plaka, prioritizing sustainable growth.

In response to questions about competition, Chatzieleftheriou downplays threats from platforms like Airbnb, highlighting collaboration opportunities. He emphasizes that Blueground’s partnership with Airbnb facilitates global exposure and booking accessibility for its properties.

Looking ahead, Chatzieleftheriou reveals the company’s contemplation of a stock market listing with the New York Stock Exchange being potential venue.