Patriot Family Homes closes $60m Series B investment

United States: Patriot Family Homes, a veteran-owned short-term rental property management company, closed a $60 million Series B funding round to meet demand in an underserved market.

The round was led by two family offices, TRT Holdings and Miramar Holdings.

Patriot Family Homes said it plans to use the funds to acquire, renovate and operate single-family rental homes, as well as invest in infrastructure and management talent to accelerate growth in the hospitality segment.

At the same time, the company, which has 400 locations in 13 US states, announced the appointment of Christian Hempel as President and Chief Operating Officer. [COO]Having previously held executive and sales roles at next-generation lodging properties Sonder and InterContinental Hotels Group, Mr. Hempell now leads the team to deliver on Patriot’s aggressive growth strategy and is the founder of He reports to Joe Riley, the company’s CEO.

Mr Riley said: Securing this round of funding and attracting Christians to the company will allow us to accelerate the growth of our brand and business and continue to be a leading multi-regional operator of economical short-term rentals. ”

Mr Hempell said: The company’s unique strategy, leadership culture and market opportunities make it an attractive long-term growth business for investors and employees.

“I am excited to work with Joe and management to bring guest-focused innovation and operational excellence to the market,” he added.

Riley founded Patriot Family Homes in 2018, shortly after returning from a military deployment to Afghanistan. During the deployment, he and his family rented a house on his Airbnb, recognizing the need for short-term rentals around military bases, Riley built the company while offering tours in Ukraine and the White House’s National Security Council. I kept doing it.

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