Kasa, the apart-hotel operator founded by Roman Pedan, has agreed to take over the assets of Mint House in a cashless, all-equity “strategic combination” that will bring nearly 1,000 managed short-term rental units onto Kasa’s platform.
The move follows a period of consolidation in apartment-style lodging, including Mint House’s 2025 acquisition of Locale and Kasa’s recent takeover of several Sonder properties after Sonder’s financial trouble and bankruptcy.
The transaction, announced January 14, 2026, means Mint House will no longer operate as a standalone company. A small number of Mint House properties were excluded from the deal due to asset quality or contractual issues.
What Kasa is getting
Through the deal, Kasa will assume operations of more than 10 Mint House properties, including the flagship 70 Pine building in Lower Manhattan, an Art Deco tower that houses a fitness center, gourmet market, and Michelin-starred restaurants Crown Shy and SAGA.
The addition expands Kasa’s footprint in several high-growth markets, including Washington, D.C., Dallas, Nashville, St. Petersburg, and Tampa.
Once integrated, Kasa’s portfolio will total roughly 85 properties across the U.S., many backed by institutional partners such as Starwood Capital, Berkshire, and Brookfield.
How Kasa is different from Sonder
Unlike Sonder’s lease-arbitrage model, where the company acted as the tenant and paid fixed rent, all Kasa properties are run under management agreements instead of leases. This means property owners keep the real estate risk, while Kasa earns fees based on how well the properties perform. As a result, Kasa is more asset-light, requires less upfront capital, and should be able to handle downturns better than lease-based operators.
Pedan said this model is more stable and better aligned with property owners interests. He also said the deal shows that the alternative accommodations sector is consolidating around larger, more disciplined operators with strong back-end systems.
The Mint House deal reinforces Kasa’s management-first approach to growth. Mint House already operated mostly under a similar, asset-light model, which makes its integration with Kasa relatively smooth.
Deal structure and economics
The combination involved no cash payment. Kasa said the deal will be “immediately and meaningfully EBITDA-accretive,” citing expected gains from scale efficiencies, operating leverage, and improved unit economics. Pedan did not disclose detailed return metrics.
Transition and leadership changes
Mint House CEO Christian Lee will join Kasa as a senior advisor to support the transition and maintain continuity with owners and partners.
Initially, the acquired locations will operate under a transitional “Mint House by Kasa” brand. Kasa said final brand positioning will be evaluated over time as part of a broader portfolio strategy.
The properties will be folded into Kasa’s standard operating model, including mobile-first check-in, 24/7 guest communications, and centralized revenue management and distribution.
Kasa said it has completed 35 hotel and apart-hotel management transitions to date and will apply the same process to the Mint House portfolio to minimize disruption for owners and guests.
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