Placemakr Hits Profitability for the First Time in June 2024

Placemakr, a flexible-use hospitality and multifamily operator, has announced that June 2024 marked a significant milestone as the company achieved profitability for the first time, with a positive EBITDA month. This achievement follows the opening of new properties throughout 2024, including expansions into new markets like Atlanta and further growth in existing markets such as Washington, DC, and Texas. This milestone is crucial as Placemakr continues its expansion efforts with the goal of reaching sustained profitability in the near future.

Founded in 2017, Placemakr set out to create a resilient business that could deliver on its mission to make real estate more flexible. Despite facing significant challenges in the real estate industry, including the COVID-19 pandemic, economic difficulties, and high interest rates, Placemakr's adaptable business model has allowed it to navigate these obstacles. Today, the company boasts over 300 employees nationwide and nearly $150 million in annualized bookings, demonstrating robust growth despite ongoing industry challenges.

As Placemakr continues its journey to institutionalize the flex living asset class, it anticipates additional property launches later this year.