On May 27th, Roami filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of Florida.
The Miami-based hospitality company currently operates more than 500 units across South Florida and New Orleans. According to the filing, the company holds approximately $5 million in assets against $15.9 million in liabilities.
The Backstory:
Founded in 2016, Roami set out to blend the professionalism of hotels with the value of vacation rentals. Their approach: control the entire building, not just a few units, to deliver a seamless and branded guest experience without compromise.
Between 2019 and 2022, Roami reported 800% growth, generating $40M+ in revenue in 2022. The company earned a spot on the 2022 Inc. 5000 list and saw two co-founders recognized on Forbes’ 30 Under 30 list.
In March 2023, Roami raised a $14 million Series A, bringing its total funding to $29 million.
The Situation Today:
The company hasn’t disclosed the full reasons behind the bankruptcy. But on a recent podcast, Roami’s COO Brandreth Canaley emphasized that the company is going through a corporate restructuring and that they’re not going out of business.
Canaley said that Roami is in the process of being acquired, but couldn't get into the details of that yet, with a formal announcement expected this summer. She added that most employees are going to keep their jobs, Roami is keeping most of their buildings, and they’ll continue to serve guests.
While bookings remain open on Roami’s website, the coming months will reveal whether a strategic acquisition can stabilize the company’s ambitious model.
