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- Comment: Please note that press releases are not reliable independent sources and the draft still reads as blatant advertising , Wikipedia has no interest in promoting your business. Theroadislong (talk) 22:08, 19 March 2024 (UTC)
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Ember is an American hospitality company that acquires or builds co-ownership vacation homes for 1/8th to 1/2 shares per owner.[1] The Ember co-ownership model allows buyers to share the expenses and benefits of vacation home ownership. This model is part of a broader movement in real estate known as fractional ownership, where multiple buyers collectively own a property through a limited liability company. [2]
Ember was founded by Kurt Avarell and James Sukhan in 2021. The company is headquartered in Utah, and has co-ownership properties in multiple American states.[1]
History
editEmber was founded in 2021 by Kurt Avarell and James Sukhan.[1]
In February 2022, the company announced venture financing equal to $17.4M from lead investor Peter Theil, co-founder of Paypal. This funding was directed towards expanding Ember's portfolio of properties.[1]
Business Model
editEmber's approach to second home ownership includes purchasing and furnishing luxury vacation homes, which are made available for purchase in fractions ranging from 1/8 to 1/2 ownership.[3] The company manages all aspects of managing and maintaining the property.[4]
Property owners have access to an Ember mobile app for scheduling and communications with a concierge.[4] Ember has property management teams in Utah, Florida, and California.
The organization claims its model differs from the traditional and wide-spread timeshare model, due to purchased shares being real estate acquisitions, and can thus incur equity, and be sold for a potential profit.[3]
Additionally, Ember has announced the program to have unused nights be made available for rent for the owner's profit. Ember manages short-term rentals through AirBnB or Vrbo.[3][5]
Ember's website can be found here: https://emberhome.com/
References
edit- ^ a b c d Craig, Austin (24 February 2022). "Ember Raises $17.4 Million Series A". Techbuzz.news. Retrieved 19 March 2024.
- ^ Lauren, Amanda. "Fractional Home Ownership—Smart Investment Or Real Estate Scam?". Forbes. Retrieved 19 March 2024.
- ^ a b c Ember. "Co-ownership vacation homes: 3 reasons they are on the rise". KSL.com. Retrieved 19 March 2024.
- ^ a b Ember. "Ember Raises $17.4M Led by Peter Thiel to Bring Vacation Home Co-Ownership Mainstream". PR Newswire (Press release). PR Newswire. Retrieved 19 March 2024.
- ^ EIN Presswire (12 October 2023). "Ember Expands Luxury Vacation Home Co-Ownership Footprint Into Destin/30A Florida". kxan.com. Retrieved 19 March 2024.