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Wohlfert leaves RESIDE to start own venture

US: RESIDE Worldwide co-founder and co-CEO Jon Wohlfert is leaving the company to create The AltAccom Group, LLC.

The new company is focused on acquiring and repurposing apartment buildings to operate as alternative accommodations properties including corporate housing, co-living, and other types of serviced apartments.

With more than 30 years of hospitality and development experience, Wohlfert "helped lead the RESIDE brand family, including global temporary housing provider, ABODA by RESIDE, to redefine flexible accommodations".

"Teaming up with Jon to create the RESIDE brand this past 18 months has been an incredible experience," said Lee Curtis, now sole CEO for RESIDE Worldwide. "RESIDE has rapidly become a leader in this new alternative accommodation space and I am thankful for his contributions and leadership. I look forward to teaming up with Jon and The AltAccom Group to continue to deliver alternative accommodations options globally."

Wohlfert said: "Over the last few years, the demand for alternative accommodations has grown at a meteoric pace while the professionally managed supply side has lagged. During my time at RESIDE, we developed a disciplined process to identify and reposition real estate for the alternative accommodations industry. I'm looking forward to continuing the mission of innovation by partnering with capital providers to deliver alternative accommodation properties to this space."

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"ULF is a long needed innovative approach. The blend of content demonstrates that hospitality provides the increasingly crucial thread through so many real estate classes and not only refers to traditional hotels and serviced apartments but has already permeated the residential markets in their increasingly varied formats. Now these services are expanding into the residential innovative care and office markets in the UK and overseas. We are witnessing the market converging at pace as investors seek optimum yield across a variety of urban asset classes. These are exciting and pioneering times and I look forward to expanding my horizons at this unique event"

Laurence Geller CBE, CEO Geller Capital Partners

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