Alloggio expands its east coast footprint by acquiring A Perfect Stay an Boutique Stays for $11 million

Alloggio said the acquisition of a Perfect Stay, based in in Byron Bay and Melbourne with more than 270 holiday properties, would be made with "existing cash reserves and available debt facilities".

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In a statement, the company said the acquisition "adds additional scale" and provided Alloggio entry into the key tourism destination areas of the Gold Coast, NSW North Coast and Melbourne's CBD.

"This further establishes Alloggio as a leading operator of short-term rental accommodation in Australia with a portfolio of over 2,200 holiday properties under management," it said.

Alloggio's founder and CEO Will Creedon said the acquisition came at the start of the key summer holiday period.

"After the first quarter of calendar year 2023, A Perfect Stay will be integrated onto Alloggio's proprietary cloud-based technology platform that will further drive organic growth opportunities and efficiencies over time,'' he said.

"Importantly, the acquisition powers Alloggio's further expansion into the Victorian corporate, leisure and medium-term accommodation markets and enhances Alloggio's footprint on the east coast of Australia.

Mr Creedon said the acquisitions "are consistent with Alloggio's strategy of growing holiday property management rights in regions that attract holiday makers from Australia and abroad."

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