New York, NY 2.15.23 — Primestone Partners, a New York-based, advisory and housing solutions firm, announced today that it has acquired Zenya, a leading developer of guest and property management software for the short-term rental and hospitality sectors. Zenya’s integrated technology facilitates many aspects of property management, quoting, booking, fulfillment, finance and guest communications.
Zenya’s management team, including its founder Jesal Sangani, will continue to lead the company as a standalone division of Primestone Partners that will operate independently of Primestone’s housing business.
“Our plans for Zenya are two-fold. First Primestone will provide the resources and capital needed to support Zenya’s continued product development and growth in both the hotel and the property management sectors,” said Bruce Witherell, Chief Executive Officer of Primestone Partners. “More importantly, Zenya will partner with Primestone to develop marketplace solutions that more efficiently connect the supply and demand sides of the corporate housing ecosystem, including corporate housing clients, property managers and owners, and the many types of vendors that support the industry. The short-term rental industry is highly fragmented, inefficient, and lags other industries in the application of technology to drive productivity and enhance the client experience. Working with Zenya over the past three years to quickly scale our technology-enabled business has provided insights into opportunities for broader market solutions.”
“Zenya and Primestone both envision a streamlined approach to the temporary housing industry.” said Jesal Sangani, Founder and Chief Executive Officer of Zenya. “With Primestone, we now have a partner who shares our commitment to exceptional customer service and provides access to financial resources, connections, and expertise that are essential for taking our platform to the next level.”
Witherell noted that the relationship between Zenya and Primestone Housing Solutions would remain that of developer and client and that there would be no other interaction or data sharing between the two divisions.
About Primestone Partners
Primestone Partners has two primary businesses: an operating company that is creating new, extended-stay housing solutions for corporate, government and developer clients and a senior level advisory practice focused on mortgage, real estate and technology clients. The principals at Primestone Partners have held senior management roles at leading investment banks, PE firms, GSEs and at global and U.S. real estate operations. They have built companies, led multi billion- dollar financings, engineered turnarounds and launched start-ups for major financial institutions.