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Former CFO of Better Place Forests and Mynd Joins Executive Team to Drive Growth at the Hospitality Brand
LOS ANGELES, Sept. 21, 2022 /PRNewswire/ -- AvantStay, the premier hospitality platform transforming short-term rentals for the way people travel and invest today, announces the appointment of Ankur Jain as Chief Financial Officer. Jain joins AvantStay as a seasoned finance and startup executive with more than a decade in the real estate sector, including his previous roles as CFO of Better Place Forests (BPF); CFO and Founding Team Member at Mynd; and Vice President of Finance of Starwood Waypoint Residential Trust (now Invitation Homes), where he took the company public. Invitation Homes is the largest single family residential REIT in the world.
In his new role at AvantStay, Jain will lead the finance team across accounting, financial planning, strategic finance, and finance operations to drive growth and profitability for the business as it matures. Jain will also join the rest of the AvantStay executive team as they continue to advance the business as a leader in the short-term rental industry.
"AvantStay is at a pivotal point in its development and I'm impressed by the team and all the foundational pieces that they've already set in place to enable them to scale rapidly as a leader in the space," says Jain. "Short-term rentals will be the fastest growing segment within real estate in the coming years with the charge to institutionalize short-term rentals as an asset class, and it reminds me of the exciting early days of single family residential when we were writing the playbook ourselves."
Prior to joining AvantStay, Jain was CFO of BPF where he focused on building and driving financial discipline, as well as raising capital to expand the business. Before BPF, Ankur was the CFO and a founding team member at Mynd, a real estate technology company serving the $85 billion+ property management and real estate investment market. He raised multiple financing rounds for Mynd, led the development of its in-house accounting system, and advised on acquisitions of regional property managers, enabling Mynd to grow into the largest tech-enabled single family residential property management company in the country with more than 10,000 homes.
Ankur also served as the VP of Finance at Starwood Waypoint Residential Trust (now Invitation Homes), where he helped take the company public in 2014 and subsequently raised over $1.5 billion in debt and equity capital to fuel the company's growth from 4,000 to over 20,000 homes in two years, making them the second largest publicly traded REIT in the world.
"Ankur's wealth of expertise leveraging technology to institutionalize and scale residential real estate platforms is the ideal addition to our executive team," says Sean Breuner, Chief Executive Officer & Founder of AvantStay. "Ankur's arrival is a testament to what we are building. With his leadership, we'll continue to pioneer world-class financial infrastructure tailored to our industry and solidify our position as the premier short-term rental platform across the country."
For more information on AvantStay, please visit: www.avantstay.com.
About AvantStay
AvantStay is the best way to travel for groups, offering a diverse portfolio of 1,500+ premier vacation rental properties across 100+ destinations. As the next generation hospitality platform redefining the way in which people travel and invest, AvantStay delivers a highly curated experience customized to guests' needs, using a proprietary tech platform to power bookings, seamlessly operationalize in-field and remote management, and activate authentic and elevated consumer touch points. In 2019, AvantStay became one of the initial twelve partners of Homes & Villas by Marriott International, and currently offers distribution on more than 65 OTAs. AvantStay was founded by experienced real estate and technology entrepreneurs Sean Breuner and Reuben Doetsch.
Contact: AvantStay@quinn.pr
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SOURCE AvantStay