Located in Vancouver, Cozystay is a vacation rental platform which has recently announced that it will be opening a co-living space for entrepreneurs in Kitchener-Waterloo.
The property marks Cozystay’s first expansion into Ontario and is meant to serve as an accommodation and co-living space for entrepreneurs in the tech innovation hub.
Founded in 2015, Cozystay’s online marketplace allows users to book hotels, vacation rentals, and resorts. The company has recently been expanding and taking over management of entire properties, including BC-based Lake Okanagan Resort and Abercorn Airport Hotel, which it calls its “Cozystay Signature” properties.
The new Kitchener-Waterloo property will become part of Cozystay’s Signature line, offering a co-living space that the company touts as a place for “members of the innovation economy” to “share with like-minded, industry peers.” The space is set to be located close to Google’s office, and will offer seven suites with more than 20 individual rooms.
The Vancouver-based company is a subsidiary of property management company Cozy Living Suites Inc., which manages vacation rental properties in Vancouver, Seattle, Los Angeles, and Toronto. Cozystay typically looks to serve Chinese-speaking hosts and users and the platform itself can be used in Chinese. Coztstay has been backed by the property management group for Tujia, China’s largest short-term rental property firm that has been called “China’s Airbnb.” According to Crunchbase, CozyStay has raised $4 million to date.
“We see this [Kitchener-Waterloo] property becoming a co-living space for entrepreneurs building innovative technology companies,” said Galen Cheng, CEO of Cozystay. “We are looking to the community to discover what they want in shared accommodation space and welcome new ideas, because, truly, the best ideas come from the community itself.”
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