Neighborhood Announces The Strategic Acquisition Of Local Knowledge
Neighborhood Announces The Strategic Acquisition Of Local Knowledge. In a move that’s set to shake the landscape of travel and hospitality, Neighbourhood os thrilled to announce the strategic acquisition of Local Knowledge, the next-gen travel experience & technology company! This acquisition is not just a merging of two companies and teams, it’s a marriage of two visionary missions to redefine the way people live, work, and experience a city – all the while fostering meaningful connections and positively impacting local communities.
Neighbourgood is a company that’s on a mission to bring good to neighbourhoods around the world. With over 1000 living and working spaces (and an additional 650 in the pipeline for 2024), the company has established itself as one of the fastest-growing hospitality companies in Africa. On the flip side, the team of Experience Designers at Local Knowledge pride themselves in their ability to create lifelong memories for their customers. Overcoming the shortcomings of traditional, mass tourism through their values of authenticity, personalisation, community and attention to detail.
The next generation of travellers face a variety of challenges when setting out to explore new cities – a lack of authentic cultural experiences, scattered information, and a growing sense of disconnect. This is where Local Knowledge steps in and serves as a bridge, connecting travellers with local communities to craft unforgettable experiences together.
Through this acquisition, Local Knowledge will be brought in to build ‘The Experience Vertical’ – a team dedicated to the sole mission of helping Neighbourgood guests create lifelong memories and meaningful connections through authentic, local experiences and tours, community-centric events, and an intuitive app that provides personalised recommendations and inside access to what’s happening in a city. A digital guide of the best, hidden-gems curated by local experts.
With its Cape Town map well-populated with the best local recommendations, Neighbourhood already has its sights set on launching its second destination in California for early 2024. “This acquisition represents a significant milestone in the travel and hospitality industry. It’s a meaningful step toward a future where travel is not just about destinations but about the friendships, experiences, and communities we build along the way. Neighbourgood and Local Knowledge are well-poised to lead this transformative journey!” said Murray Clark (CEO of Neighbourgood).
“We’re super excited about this next chapter of our journey with the launch of five new Neighbourgood buildings, adding a total of 181 fresh rooms and two extra workspaces, set to roll out before the end of the year. Alongside that, we’re set to unveil the Neighbourgood Experiences and Events offering, introduce the Neighbourgood App, and expand our Neighbourgood Workclubs across the city! But wait, there’s more—mark your calendars for January 2024, when we’ll be kicking off an exciting fundraising campaign to support our USA Expansion.” the company said in a statement.
