HOUSE OF MODERN LIVING LIMITED
House of Modern Living provides exclusive, four star serviced apartments for businesses and their employees globally through an easy to use platform. The business has seen phenomenal success and now generates more than £4m turnover per year. They estimate to have reduced accommodation price for businesses by 30% compared to standard hotel rates.
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In an uber-connected world, it is surprising that technology has yet to disrupt the Real Estate and Business Travel industries when the global spends are Trillions per annum (1).
Companies such as Uber, Airbnb, Lending-Club and WeWork represent a glimpse into a future where technology facilitates disintermediation between the asset owner and the end user, eliminating inefficient layers of brokers, aggregators, and service providers.
Our vision for House of MoLi is centered around disintermediation in the leisure and lodging industries.
We see ourselves as a marketplace which enables merchants selling business accommodation to leverage our beautifully designed enterprise technology and integrate into procurement divisions of medium and large businesses. By disrupting accommodation industries, we see ourselves as a hotbed for innovation across related offerings including real estate brokerage, travel and global mobility.
By creating cloud-based software, we are able to achieve cost savings by removing various intermediaries â€“ including Travel Agents, Travel Management Companies, Estate Agents, and the painstaking contract negotiations with thousands of vendors and going direct to the asset owners/managers. In addition to software and physical fulfilment of the product, we are delivering extra value to our customers by negotiating flexible payment and cancellation policies that Corporate customers are used to in their typical hotel procurement.
Where will the funds go?
2 free nights
3 free nights every year, 4 years of the loan
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A. Our current assets for 2013 were 218K, growing to 780K in 2014, which are mostly accounts receivable from extended stay customers.
Our current liabilities have grown from 110K in 2013 to 283K in 2014, and are mainly Commission Agents, Rents and Utilities falling due in next payment cycle, Taxes falling due within one year, etc.
The increase in asset & liabilities from 2013 to 2014 reflects essentially company growth (Financial year turnover: £2millions in 2013 to £3,8millions in 2014).
Concerning long term liabilities, the company currently carries no external debt, but does have some secured asset purchases (company cars for example) categorized as long term liabilities, which represent 7K in 2013, 17K in 2014 and 32K forecast for 2015.
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