ASX-LISTED short-term accommodation provider Alloggio Group has acquired Sydney-based marketing and distribution platform Aabode.com. The deal will provide Alloggio with its own channel manager of luxury-focused holiday rental properties through its operations on the East Coast of Australia, and will facilitate the distribution of its portfolio through key travel retailers to aid the company’s expansion into the Asia and Pacific markets.
The news follows Alloggio’s recent $16 million investment in management acquisitions across some of Australia’s most popular destinations, including the Great Ocean Road Accommodation Centre in Victoria for $8 million at the end of last year.
In January 2022, the operator also agreed to acquire holiday property management business Accom Noosa and the management rights to Fairshore and Noosa International Resort for $4.5 million.
Best of Magnetic in Magnetic Island, Prestige Holiday Homes in Coolum, First National Magnetic Holiday Rent Roll and The Edge Holiday Rent Roll at Coffs Harbour were also added to Alloggio’s line-up.
The acquisitions, which were part of a six-month growth plan, have boosted the company’s portfolio to more than 1,950 holiday properties on the east coast after it generated $16.5 million to go public via an initial public offering last November.
Alloggio Chief Executive Officer Will Creedon said, “we look forward to leveraging our current platform to make further strategic acquisitions, implement organic growth initiatives and extract operational efficiencies for the remainder of 2022 and beyond”.