From 4703
to the rest of ASEAN
Humble beginnings
Elevate began our journey with a single apartment, number 4703, in Ho Chi Minh (“HCM”).
In between extensive business travel for his prior employment in tourism sector consulting before focusing on Elevate full-time, founder Jae Hoon built Elevate into one of HCM’s most highly rated short-term rental apartment operators.
Despite the greater operational complexity relative to unified locations and deteriorating regulatory environment for short-term rentals in HCM, Elevate has been able to show consistent RevPAR growth across its portfolio and significantly outperformed the HCM market average of roughly 70% occupancy.
Now after these learnings and assembling a management and advisory team who have built large, successful hospitality and other tourism businesses in ASEAN, Europe and the US, Elevate has a solid foundation upon which to scale rapidly across ASEAN.
