ABD’de Turkish entrepreneur's 33,1 million dollar giant move
The company founded by a Turkish entrepreneur in ABD is accelerating growth! A 33,1 million dollar financing opportunity was announced for Budo H. Bunul's KiteVille project, which converts hotels and motels into technology-supported living spaces. Now the focus is on the new growth move covering 11 facilities.
In the United States, Turkish entrepreneur Budo H. Bunul, who founded KiteVille and has attracted attention with a different model in the hospitality sector, has entered a new phase in its growth plans. US Capital Global Securities offered a total debt and equity financing opportunity of $33.1 million for KiteVille Investment LLC to suitable investors.
Planning to Convert 11 Facilities
Under the announced financing plan, a term loan of up to $23.17 million, a third‑party equity investment of $6.62 million, and sponsor equity of $3.31 million are projected.
The financing is planned to be used for the acquisition and repositioning of the 11 hospitality facilities identified in the United States, as well as for refinancing, working capital, and related transaction costs.
KiteVille’s first‑phase acquisition portfolio includes about 780 units in the states of Illinois, Indiana, Ohio, Michigan, and Pennsylvania. It is noted that those facilities are still in the letter‑of‑intent stage.
Transforming Old Motels and Hotels into New‑Generation Living Spaces
Founded in 2018 and headquartered in Philadelphia, KiteVille focuses on acquiring low‑performing motels and limited‑service hotels and converting them into modern spaces for short‑term stays, employee housing, and long‑term living needs.
In the company's model, real‑estate ownership is combined with centralized operations, technology, and AI‑driven optimization systems. The aim is to run many operations—revenue management, acquisitions, maintenance, customer service, and financial reporting—through a central system.
KiteVille's revenue model is planned to comprise nightly, weekly, and monthly rentals, plus ancillary guest services, property management, and direct bookings. The company is also considering licensing the technology it develops in the future to other lodging operators.
Budo H. Bunul: 'We Aim to Build a Scalable Real‑estate Platform'
KiteVille founder and CEO Budo H. Bunul said the company's strategy is built on buying underperforming properties at low cost and re‑evaluating them with a technology‑driven operating model.
Bunul said that by moving centralized operations and the company's own technology platform to the facilities, they aim to create high‑quality, flexible living spaces while also building a scalable real‑estate platform.
He had explained his goals to ABDPost.
Budo H. Bunul had described the emergence of KiteVille and its growth targets in the United States in an interview he gave earlier to Özlem Özgüt Yörekli, the New York correspondent for ABDPost.com.
Bunul, who arrived in the United States at age 17 and studied tourism in Boston, developed various entrepreneurial projects after working for many years in the hospitality sector. He positioned the KiteVille model as a next‑generation solution that responds to changing lifestyles and work habits.
In his statement to ABDPost, Bunul also noted that a significant portion of the project's operational infrastructure is managed from Turkey. He said that the human‑resources, accounting, customer‑service, and technical‑support teams are based in Turkey, adding that this arrangement provides operational advantages and creates jobs in Turkey.
Goal: Grow Nationwide in ABD
In a statement to ABDPost in January, Bunul said that KiteVille had reached roughly 1,000 units and that, in the long term, it aims to expand that figure to 60,000 units to create a widespread network across the United States.
The $33.1 million new financing opportunity announced by US Capital Global Securities was one of the notable new steps in KiteVille's growth strategy.
US Capital Global Securities CEO Charles Towle also stated that KiteVille brings together real estate, flexible living, and AI‑driven operations, adding that the company aims to improve its underperforming facilities through centralized management, investments, and technology.
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