Chengjia Apartment Funding, Investors & Competitors

Mews is a cloud-native property management system for hotels, hostels, and serviced apartments serving over 5,000 properties in 85 countries. It automates reservations, payments, and housekeeping via open APIs with 1,000-plus integrations including Stripe and Google. Amsterdam-headquartered Mews won Best PMS at the 2024 HotelTechAwards. Founded in 2013 by hoteliers, it processes millions in bookings monthly across five continents.

Danke Apartment is a Beijing-headquartered apartment rental platform managing over 320,000 units in major Chinese cities including Shanghai, Shenzhen, and Hangzhou. The company offers furnished long-term leases with integrated utilities, cleaning, and maintenance via its app. Danke Apartment partners with property owners for standardized renovations and employs IoT devices for smart home features. Founded in 2015, it dominates the student and young professional rental market with rapid urbanization driving expansion.

Bungalow is a San Francisco-headquartered residential platform founded in 2016 at bungalow.com. It leases multi-bedroom homes in desirable U.S. neighborhoods across seven cities including Los Angeles and New York. Renters select private bedrooms with vetted housemates in fully furnished properties equipped with WiFi, utilities, weekly housekeeping, and community events. Founders Andrew Collins and Justin McCarty emphasize flexible, communal living.

Landing is a subscription-based network revolutionizing apartment rentals across more than 80 U.S. markets. Members access furnished homes for flexible stays from one month to several years, along with services like cleaning, utilities, parking, moving help, and pet accommodations.

Arrived Homes is a real estate investment platform headquartered in Seattle that enables fractional ownership of rental properties. It acquires, renovates, and manages single-family homes across markets like Atlanta and Phoenix, allowing investors to buy shares starting at $100 for passive rental income. The firm handles all property operations and distributes quarterly dividends.

Marriott operates 1.8 million rooms across roughly 30 brands. At the end of 2025, luxury represented roughly 10% of total rooms, premium was 42%, select service was 46%, and midscale was 2%. Marriott, Courtyard, and Sheraton are the largest brands, while Autograph, Tribute, Moxy, Aloft, and Element are newer lifestyle brands. Managed and franchised represented 99% of total rooms as of Dec. 31, 2025. North America makes up 61% of total rooms. Managed, franchise, and incentive fees represent the vast majority of revenue and profitability for the company.

Hilton Worldwide Holdings operates 1.35 million rooms across its 25 brands, serving the premium economy through luxury segments. Hampton and Hilton are the two largest brands, representing 27% and 18%, respectively, of the company’s total rooms, as of Dec. 31, 2025. Recent brands launched over the past few years include Home2, Curio, Canopy, Spark, Tru, Tempo, LivSmart, and Outset. Additionally, there is a partnership with Small Luxury Hotels of the World and acquisitions of NoMad and Graduate Hotels. Managed and franchised hotels represent the vast majority of adjusted EBITDA, predominantly from the Americas.

Oriental Land is a prominent Japanese company primarily known for its ownership and operation of the Tokyo Disney Resort. It includes two theme parks, Tokyo Disneyland and Tokyo DisneySea, as well as hotels, shopping, and dining facilities. Oriental Land collaborates closely with The Walt Disney Company under a licensing agreement until 2076. This partnership has been instrumental in establishing Tokyo Disney Resort as one of the leading tourist destinations in Japan, attracting millions of visitors annually from domestic and international markets. Beyond its entertainment ventures, Oriental Land has also ventured into real estate development and operates Ikspiari, a retail and entertainment complex adjacent to Tokyo Disneyland.

Las Vegas Sands is the world's largest operator of fully integrated resorts, featuring casino, hotel, entertainment, food and beverage, retail, and convention center operations. The company owns the Venetian Macao, Sands Macao, Londoner Macao, Four Seasons Hotel Macao, and Parisian Macao, as well as the Marina Bay Sands resort in Singapore. We expect Sands to open a fourth tower in Singapore in 2031. Its Venetian and Palazzo Las Vegas assets in the US were sold to Apollo and Vici in 2022. After the sale of its Vegas assets, Sands generates all its EBITDA from Asia, with its casino operations generating the majority of sales.