If you’re walking near the Reedy River in downtown Greenville, passing just beyond Art Crossing and heading toward Academy Street, you might be fooled into thinking the seven-floor RiverWalk building at 101 Falls Park Drive is an apartment complex.
For most of its life, it was.
Mint House specializes in “Flex multi family”
But in the last few years, all 44 units inside RiverWalk have been converted into a new kind of guest lodging that blurs the line between hotel, Airbnb and apartment.
Founded in 2017, Mint House is a concept that provides luxurious apartment-style accommodations with the premium branding of a hotel. Not to be confused with an Airbnb, in which property owners rent out their lodgings independently, Mint House operates much like a hotel would – indeed, the building has a formal hoteliers license from South Carolina.
What makes it unique is the space and services it offers.
“Say you’re like me, and when you travel, you’re usually traveling with two kids and your spouse, and all are stuck in one small 350-square-foot hotel room,” said Yorden Petrov, general manager of Mint House Greenville. “It can get cramped very quickly.”
A new asset class that is more profitable, they claim, than both hospitality and traditional multifamily units.
Given its past life as a luxury apartment building, Mint House provides the same amenities one would expect at home, such as a kitchen, common area and a bedroom or bedrooms (units range from one to three bedrooms). Prospective guests can book units from popular hotel sites like Expedia or Travelocity as well as through Airbnb, according to Anderson native Yana Korshikova, who serves as hospitality manager at Mint House Greenville.
Founded by private equity veteran William Lucas
Units can also be fully stocked upon arrival, with options for filling up the fridge and freezer with food from Whole Foods and supplies from other retailers.
“Anything from toilet paper to organic chicken,” Petrov said. “You have plenty of options when it comes to food especially.”
The concept has been growing steadily, with Mint House having raised $ 35 million in a year when hotels were projected to end 2022 down 25% from pre-pandemic levels, according to the American Hotel and Lodging Association. Mint House grew more than 200% in 2021 alone and tripled its property count. The brand now has 22 locations spread across the South and Midwest.